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



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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.Â
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.Â
These places are listed in order according to a factor combining retirement-age population, livability score and cost of living.
Wellington, Kentucky
- Total Annual Cost of Living for Singles After Social Security:Â $6,873
- Total Annual Cost of Living for Couples After Social Security: -$4,067
Nutter Fort, West Virginia
- Total Annual Cost of Living for Singles After Social Security: $9,378
- Total Annual Cost of Living for Couples After Social Security: -$1,563
Bellevue, Kentucky
- Total Annual Cost of Living for Singles After Social Security: $16,556
- Total Annual Cost of Living for Couples After Social Security: $5,616Â
Panhandle, Texas
- Total Annual Cost of Living for Singles After Social Security:Â $11,497
- Total Annual Cost of Living for Couples After Social Security: $557Â
Lynchburg, Virginia
- Total Annual Cost of Living for Singles After Social Security:Â $18,470
- Total Annual Cost of Living for Couples After Social Security: Â $7,530Â
Frostburg, Maryland
- Total Annual Cost of Living for Singles After Social Security: $9,319
- Total Annual Cost of Living for Couples After Social Security: –$1,621
Friona, Texas
- Total Annual Cost of Living for Singles After Social Security: $7,076
- Total Annual Cost of Living for Couples After Social Security: -$3,864
Williamstown, West Virginia
- Total Annual Cost of Living for Singles After Social Security: $14,620 Â
- Total Annual Cost of Living for Couples After Social Security: $3,679
Tangelo Park, Florida
- Total Annual Cost of Living for Singles After Social Security: $20,171
- Total Annual Cost of Living for Couples After Social Security:Â $9,230
Kenova, West Virginia
- Total Annual Cost of Living for Singles After Social Security: $10,595
- Total Annual Cost of Living for Couples After Social Security:Â -$345
Clarksburg, West Virginia
- Total Annual Cost of Living for Singles After Social Security: $9,698
- Total Annual Cost of Living for Couples After Social Security:Â -$1,242
Shinnston, West Virginia
- Total Annual Cost of Living for Singles After Social Security:Â $10,689
- Total Annual Cost of Living for Couples After Social Security:Â -$251
Covington, Kentucky
- Total Annual Cost of Living for Singles After Social Security: $13,281
- Total Annual Cost of Living for Couples After Social Security:Â $2,341
Nash, Oklahoma
- Total Annual Cost of Living for Singles After Social Security: $10,124
- Total Annual Cost of Living for Couples After Social Security:Â -$817
Charleston, West Virginia
- Total Annual Cost of Living for Singles After Social Security:Â $12,965
- Total Annual Cost of Living for Couples After Social Security:Â $2,025Â
Huntington, West Virginia
- Total Annual Cost of Living for Singles After Social Security: $10,532
- Total Annual Cost of Living for Couples After Social Security:Â -$408
Stonewood, West Virginia
- Total Annual Cost of Living for Singles After Social Security:Â $10,264
- Total Annual Cost of Living for Couples After Social Security:Â -$676
Alva, Oklahoma
- Total Annual Cost of Living for Singles After Social Security: $7,296
- Total Annual Cost of Living for Couples After Social Security: -$3,644
Fort Thomas, Kentucky
- Total Annual Cost of Living for Singles After Social Security: $24,480
- Total Annual Cost of Living for Couples After Social Security: $13,540Â
Dundalk, Maryland
- Total Annual Cost of Living for Singles After Social Security: $15,616
- Total Annual Cost of Living for Couples After Social Security: $4,676Â
Shiner, Texas
- Total Annual Cost of Living for Singles After Social Security: $19,489
- Total Annual Cost of Living for Couples After Social Security: $8,549Â
Woodlawn, Kentucky
- Total Annual Cost of Living for Singles After Social Security: $15,830
- Total Annual Cost of Living for Couples After Social Security: $4,890Â
Mary Esther, Florida
- Total Annual Cost of Living for Singles After Social Security: $24,353
- Total Annual Cost of Living for Couples After Social Security: $13,412Â
Marmaduke, Arkansas
- Total Annual Cost of Living for Singles After Social Security: $7,510
- Total Annual Cost of Living for Couples After Social Security:Â -$3,430
Barboursville, West Virginia
- Total Annual Cost of Living for Singles After Social Security: $14,462
- Total Annual Cost of Living for Couples After Social Security:Â $3,522Â
Metairie, Louisiana
- Total Annual Cost of Living for Singles After Social Security: $20,566
- Total Annual Cost of Living for Couples After Social Security:Â $9,626Â
Titusville, Florida
- Total Annual Cost of Living for Singles After Social Security: $20,406
- Total Annual Cost of Living for Couples After Social Security:Â $9,465Â
Florence, Alabama
- Total Annual Cost of Living for Singles After Social Security:Â $14,213
- Total Annual Cost of Living for Couples After Social Security:Â $3,273Â
Ocean Springs, Mississippi
- Total Annual Cost of Living for Singles After Social Security: $18,077
- Total Annual Cost of Living for Couples After Social Security:Â $7,137
Seminole, Texas
- Total Annual Cost of Living for Singles After Social Security: $14,869
- Total Annual Cost of Living for Couples After Social Security:Â $3,929Â
Richton, Mississippi
- Total Annual Cost of Living for Singles After Social Security: $9,554
- Total Annual Cost of Living for Couples After Social Security: -$1,386
Pensacola, Florida
- Total Annual Cost of Living for Singles After Social Security: $18,226
- Total Annual Cost of Living for Couples After Social Security:Â $7,286Â
Mammoth Spring, Arkansas
- Total Annual Cost of Living for Singles After Social Security: $8,173
- Total Annual Cost of Living for Couples After Social Security:Â -$2,767
Lumberport, West Virginia
- Total Annual Cost of Living for Singles After Social Security: $10,090
- Total Annual Cost of Living for Couples After Social Security:Â -$850
Glenville, West Virginia
- Total Annual Cost of Living for Singles After Social Security: $9,155
- Total Annual Cost of Living for Couples After Social Security:Â -$1,785
Mauldin, South Carolina
- Total Annual Cost of Living for Singles After Social Security: $19,710
- Total Annual Cost of Living for Couples After Social Security:Â $8,770
Spruce Pine, North Carolina
- Total Annual Cost of Living for Singles After Social Security:Â $17,415
- Total Annual Cost of Living for Couples After Social Security:Â $6,474Â
West Union, West Virginia
- Total Annual Cost of Living for Singles After Social Security:Â $8,293
- Total Annual Cost of Living for Couples After Social Security:Â -$2,647
Clinton, Arkansas
- Total Annual Cost of Living for Singles After Social Security: $9,125
- Total Annual Cost of Living for Couples After Social Security:Â -$1,815
Glasgow, Kentucky
- Total Annual Cost of Living for Singles After Social Security: $11,465
- Total Annual Cost of Living for Couples After Social Security:Â $525Â
Park Hills, Kentucky
- Total Annual Cost of Living for Singles After Social Security:Â $23,820
- Total Annual Cost of Living for Couples After Social Security: $12,880Â
Oxford, Mississippi
- Total Annual Cost of Living for Singles After Social Security: $24,099
- Total Annual Cost of Living for Couples After Social Security:Â $13,158Â
Ceredo, West Virginia
- Total Annual Cost of Living for Singles After Social Security:Â $12,000
- Total Annual Cost of Living for Couples After Social Security:Â $1,060Â
Pocahontas, Arkansas
- Total Annual Cost of Living for Singles After Social Security: $7,786
- Total Annual Cost of Living for Couples After Social Security:Â -$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.
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