44 Best Southern Cities To Retire If You Have Just $500,000 Saved

You might think you need at least a cool million dollars in the bank to retire in the style you want to — especially if you’re considering retirement in one of the charming cities in the South, where the houses and quality of life can be outsized. 

However, your dream of fine Southern living in your golden years can be a reality even if you have only half that money in your savings. GOBankingRates took a look at some of the best Southern towns and cities where you can retire with $500,000 in your savings. 

These places are listed in order according to a factor combining retirement-age population, livability score and cost of living.

• Total Annual Cost of Living for Singles After Social Security: $6,873
• Total Annual Cost of Living for Couples After Social Security: -$4,067

• Total Annual Cost of Living for Singles After Social Security: $9,378
• Total Annual Cost of Living for Couples After Social Security: -$1,563

• Total Annual Cost of Living for Singles After Social Security: $16,556
• Total Annual Cost of Living for Couples After Social Security: $5,616 

• Total Annual Cost of Living for Singles After Social Security: $11,497
• Total Annual Cost of Living for Couples After Social Security: $557 

• Total Annual Cost of Living for Singles After Social Security: $18,470
• Total Annual Cost of Living for Couples After Social Security:  $7,530 

• Total Annual Cost of Living for Singles After Social Security: $9,319
• Total Annual Cost of Living for Couples After Social Security: –$1,621

• Total Annual Cost of Living for Singles After Social Security: $7,076
• Total Annual Cost of Living for Couples After Social Security: -$3,864

• Total Annual Cost of Living for Singles After Social Security: $14,620  
• Total Annual Cost of Living for Couples After Social Security: $3,679

• Total Annual Cost of Living for Singles After Social Security: $20,171
• Total Annual Cost of Living for Couples After Social Security: $9,230

• Total Annual Cost of Living for Singles After Social Security: $10,595
• Total Annual Cost of Living for Couples After Social Security: -$345

• Total Annual Cost of Living for Singles After Social Security: $9,698
• Total Annual Cost of Living for Couples After Social Security: -$1,242

• Total Annual Cost of Living for Singles After Social Security: $10,689
• Total Annual Cost of Living for Couples After Social Security: -$251

• Total Annual Cost of Living for Singles After Social Security: $13,281
• Total Annual Cost of Living for Couples After Social Security: $2,341

• Total Annual Cost of Living for Singles After Social Security: $10,124
• Total Annual Cost of Living for Couples After Social Security: -$817

• Total Annual Cost of Living for Singles After Social Security: $12,965
• Total Annual Cost of Living for Couples After Social Security: $2,025 

• Total Annual Cost of Living for Singles After Social Security: $10,532
• Total Annual Cost of Living for Couples After Social Security: -$408

• Total Annual Cost of Living for Singles After Social Security: $10,264
• Total Annual Cost of Living for Couples After Social Security: -$676

• Total Annual Cost of Living for Singles After Social Security: $7,296
• Total Annual Cost of Living for Couples After Social Security: -$3,644

• Total Annual Cost of Living for Singles After Social Security: $24,480
• Total Annual Cost of Living for Couples After Social Security: $13,540 

• Total Annual Cost of Living for Singles After Social Security: $15,616
• Total Annual Cost of Living for Couples After Social Security: $4,676 

• Total Annual Cost of Living for Singles After Social Security: $19,489
• Total Annual Cost of Living for Couples After Social Security: $8,549 

• Total Annual Cost of Living for Singles After Social Security: $15,830
• Total Annual Cost of Living for Couples After Social Security: $4,890 

• Total Annual Cost of Living for Singles After Social Security: $24,353
• Total Annual Cost of Living for Couples After Social Security: $13,412 

• Total Annual Cost of Living for Singles After Social Security: $7,510
• Total Annual Cost of Living for Couples After Social Security: -$3,430

• Total Annual Cost of Living for Singles After Social Security: $14,462
• Total Annual Cost of Living for Couples After Social Security: $3,522 

• Total Annual Cost of Living for Singles After Social Security: $20,566
• Total Annual Cost of Living for Couples After Social Security: $9,626 

• Total Annual Cost of Living for Singles After Social Security: $20,406
• Total Annual Cost of Living for Couples After Social Security: $9,465 

• Total Annual Cost of Living for Singles After Social Security: $14,213
• Total Annual Cost of Living for Couples After Social Security: $3,273 

• Total Annual Cost of Living for Singles After Social Security: $18,077
• Total Annual Cost of Living for Couples After Social Security: $7,137

• Total Annual Cost of Living for Singles After Social Security: $14,869
• Total Annual Cost of Living for Couples After Social Security: $3,929 

• Total Annual Cost of Living for Singles After Social Security: $9,554
• Total Annual Cost of Living for Couples After Social Security: -$1,386

• Total Annual Cost of Living for Singles After Social Security: $18,226
• Total Annual Cost of Living for Couples After Social Security: $7,286 

• Total Annual Cost of Living for Singles After Social Security: $8,173
• Total Annual Cost of Living for Couples After Social Security: -$2,767

• Total Annual Cost of Living for Singles After Social Security: $10,090
• Total Annual Cost of Living for Couples After Social Security: -$850

• Total Annual Cost of Living for Singles After Social Security: $9,155
• Total Annual Cost of Living for Couples After Social Security: -$1,785

• Total Annual Cost of Living for Singles After Social Security: $19,710
• Total Annual Cost of Living for Couples After Social Security: $8,770

• Total Annual Cost of Living for Singles After Social Security: $17,415
• Total Annual Cost of Living for Couples After Social Security: $6,474 

• Total Annual Cost of Living for Singles After Social Security: $8,293
• Total Annual Cost of Living for Couples After Social Security: -$2,647

• Total Annual Cost of Living for Singles After Social Security: $9,125
• Total Annual Cost of Living for Couples After Social Security: -$1,815

• Total Annual Cost of Living for Singles After Social Security: $11,465
• Total Annual Cost of Living for Couples After Social Security: $525 

• Total Annual Cost of Living for Singles After Social Security: $23,820
• Total Annual Cost of Living for Couples After Social Security: $12,880 

• Total Annual Cost of Living for Singles After Social Security: $24,099
• Total Annual Cost of Living for Couples After Social Security: $13,158 

• Total Annual Cost of Living for Singles After Social Security: $12,000
• Total Annual Cost of Living for Couples After Social Security: $1,060 

• Total Annual Cost of Living for Singles After Social Security: $7,786
• Total Annual Cost of Living for Couples After Social Security: -$3,155

Editor’s note: Photos are just for illustration and may not accurately reflect the city listed.

Methodology: GOBankingRates analyzed cities in South to find the best places to retire with $500,000 in savings. First GOBankingRates found Southern cities for their population, households, population aged 65 and over, and percent aged 65 and over, all sourced from the US Census American Community Survey. For each city, the average cost of living for retired households was calculated by finding the cost-of-living indexes as sourced from Sperling’s BestPlaces and the national average expenditure costs. The average Social Security benefit was found from the Annual Statistical Supplement from the Social Security Administration, and the average income was removed from the average cost of living to find the average cost of living for retired residents after Social Security benefits. In order to qualify for this study, the subject would have to be able to draw on savings for at least 20 years, taking them to be 85 years old before potentially running out. The livability index was found for each city as sourced from AreaVibes. The percent population aged 65 and over was scored and weighted at 1.00, the livability index was scored and weighted at 2.00, the cost of living was scored and weighted at 1.00. All three scores were summed and sorted to show the best places in the Southern states to retire with $500,000 in savings. All data was collected on and is up to date as of April 29, 2024.