7 Cheap Beach Locations To Retire With Just $250,000 in Savings

Enjoying your golden years at the beach might sound pretty good, but perhaps you’re not sure you can afford it. You’ll likely be collecting Social Security each month, but if you have just $250,000 in savings, you will need to plan carefully.

Beach towns are notoriously expensive. Even if you’re planning to take on a side gig in retirement, you don’t want to spend all of your savings in a matter of years.

The good news is you can still live a relatively affordable lifestyle in certain beach towns. GOBankingRates conducted research to find seven beach locations to consider.

Located in several states, the average home value all of these cities, except one, is lower than the national average of $358,734, according to Zillow. If you’re not planning to buy, you’ll likely be relieved to know the median gross rent in all seven beach cities is cheaper than the national average of $1,300 per month, according to the U.S. Census Bureau.

Of course, you may also want to be in a city with a high percentage of retired citizens. In all but two of these beach cities, the percent of the population 65 years and older is higher than the national average of 17.3%, according to the U.S. Census Bureau.

If you’re planning to retire at the beach on a budget, one of these locations might be a good spot. Here’s a look at seven cheap beach cities to consider for your retirement.

• Average home value: $307,680
• Median gross rent: $1,093 per month
• Percent of population 65 years and older: 22.3%

Make this popular tourist destination your home in retirement. Nearly one-quarter of the population is 65 years and up, meaning it probably won’t be too hard to make friends.

Home to 60 miles of Atlantic Ocean coastline, you’ll have your choice of local beaches. Some of the most popular include the aptly named Myrtle Beach, North Myrtle Beach, Atlantic Beach, Surfside Beach, Garden City Beach and Litchfield Beach.

• Average home value: $377,117
• Median gross rent: $1,182 per month
• Percent of population 65 years and older: 34.5%

The average home value in Vero Beach is slightly higher than the national average. However, the trade-off is one-third of the population is retirement age.

Located on the Atlantic Ocean side of the state, there’s no shortage of beaches to choose from. Some of your new favorites might include Treasure Shores, Ambersand Beach, Humiston Park, Tracking Station Beach, Wabasso Beach, Seagrape Trail Beach and Turtle Trail Beach.

• Average home value: $266,546
• Median gross rent: $1,150
• Percent of population 65 years and older: 20.2%

An all-around win, the average home value in Pensacola is notably lower than the national average and one-fifth of the population is at least 65 years old. Known for its sugar-white beaches and beautifully clear waters, every day will feel like a vacation in this Florida panhandle beach town.

• Average home value: $224,231
• Median gross rent: $1,163
• Percent of population 65 years and older: 15.5%

When you think beach town, Texas might not be the first state to come to mind. However, there’s more than 100 miles of shoreline between the Gulf Coast and Corpus Christi Bay.

The retirement-age population is slightly less than the national average. However, this could be a small price to pay, considering the seriously affordable average home value in this town.

• Average home value: $192,821
• Median gross rent: $1,000
• Percent of population 65 years and older: 18.7%

A retirement gem, Gulfport offers seriously below-average housing costs and an above-average retirement population. The local area has 26 miles of soft, white sandy beaches, and is filled with other fun beach towns to explore.

• Average home value: $240,951
• Median gross rent: $952 per month
• Percent of population 65 years and older: 16.3%

Part of the Golden Isles, which consists of Brunswick and four barrier islands — St. Simons Sea Island, Jekyll Island, Little St. Simons Island — this beachside city is rich in history. While the percent of the population 65 years and up is slightly below the national average, housing costs are notably low.

• Average home value: $170,035
• Median gross rent: $825 per month
• Percent of population 65 years and older: 17.4%

Seriously affordable, housing costs in Michigan City are well below the national average. Located on Lake Michigan, you’ll get two miles of beautiful beach at Washington Park.

This can be a great choice if you want to live near the beach but don’t want to move south. You’ll still be able enjoy the seasons and won’t have to endure brutal summer heat.