30 Cheap, Beautiful Places To Retire With Just $250K in Savings

Certain criteria need to be met when determining where to spend your retirement. While affordability is certainly one of the top factors, a variety of happiness boosters — warm weather, scenic views and tons of local cultural activities — are equally important considerations for an enriching retirement. Luckily, GOBankingRates has identified 30 places where it’s possible to retire with modest savings and without sacrificing your quality of life.

GOBankingRates was able to determine the most beautiful U.S. cities to retire with $250,000 in savings by studying various beautiful cities ranked by Forbes, Condé Nast Traveler, U.S. News & World Report and Time Out. A variety of factors were found for each location, including the percentage of the population ages 65 and over and the average annual cost of living. GOBankingRates sourced the average Social Security benefits — $22,510 annually — and calculated the total cost of living after benefits in each city. Additional calculations included the time it takes to draw down $250,000 in retirement, assuming a retirement age of 65.

See which 30 beautiful U.S. cities are the best to retire in if you only have $250,000 in savings.

Also see where to retire if you have no savings.

• Population 65+ (%): 21%
• Livability: 68
• Annual cost of living: $49,555
• Annual cost after Social Security: $27,045
• How many years $250K will last: 9.24

• Population 65+ (%): 38%
• Livability: 70
• Annual cost of living: $49,522
• Annual cost after Social Security: $27,012
• How many years $250K will last: 9.26

• Population 65+ (%): 15%
• Livability: 71
• Annual cost of living: $48,354
• Annual cost after Social Security: $25,844
• How many years $250K will last: 9.67

• Population 65+ (%): 11%
• Livability: 78
• Annual cost of living: $47,989
• Annual cost after Social Security: $25,480
• How many years $250K will last: 9.81

• Population 65+ (%): 22%
• Livability: 85
• Annual cost of living: $47,508
• Annual cost after Social Security: $24,998
• How many years $250K will last: 10

• Population 65+ (%): 41%
• Livability: 61
• Annual cost of living: $46,546
• Annual cost after Social Security: $24,037
• How many years $250K will last: 10.40

• Population 65+ (%): 22%
• Livability: 67
• Annual cost of living: $45,172
• Annual cost after Social Security: $22,662
• How many years $250K will last: 11.03

• Population 65+ (%): 19%
• Livability: 68
• Annual cost of living: $44,869
• Annual cost after Social Security: $22,359
• How many years $250K will last: 11.18

• Population 65+ (%): 13%
• Livability: 78
• Annual cost of living: $43,940
• Annual cost after Social Security: $21,430
• How many years $250K will last: 11.67

• Population 65+ (%): 22%
• Livability: 77
• Annual cost of living: $43,341
• Annual cost after Social Security: $20,831
• How many years $250K will last: 12

• Population 65+ (%): 15%
• Livability: 81
• Annual cost of living: $43,139
• Annual cost after Social Security: $20,629
• How many years $250K will last: 12.12

• Population 65+ (%): 14%
• Livability: 84
• Annual cost of living: $43,132
• Annual cost after Social Security: $20,622
• How many years $250K will last: 12.12

• Population 65+ (%): 36%
• Livability: 73
• Annual cost of living: $42,609
• Annual cost after Social Security: $20,099
• How many years $250K will last: 12.44

• Population 65+ (%): 14%
• Livability: 87
• Annual cost of living: $41,761
• Annual cost after Social Security: $19,252
• How many years $250K will last: 12.99

• Population 65+ (%): 12%
• Livability: 74
• Annual cost of living: $40,981
• Annual cost after Social Security: $18,472
• How many years $250K will last: 13.53

• Population 65+ (%): 26%
• Livability: 66
• Annual cost of living: $40,735
• Annual cost after Social Security: $18,225
• How many years $250K will last: 13.72

• Population 65+ (%): 19%
• Livability: 67
• Annual cost of living: $40,037
• Annual cost after Social Security: $17,527
• How many years $250K will last: 14.26

• Population 65+ (%): 14%
• Livability: 76
• Annual cost of living: $39,786
• Annual cost after Social Security: $17,276
• How many years $250K will last: 14.47

• Population 65+ (%): 20%
• Livability: 83
• Annual cost of living: $39,194
• Annual cost after Social Security: $16,684
• How many years $250K will last: 14.98

• Population 65+ (%): 16%
• Livability: 75
• Annual cost of living: $39,129
• Annual cost after Social Security: $16,619
• How many years $250K will last: 15.04

• Population 65+ (%):  13%
• Livability: 80
• Annual cost of living: $38,703
• Annual cost after Social Security: $16,194
• How many years $250K will last: 15.44

• Population 65+ (%): 14%
• Livability: 78
• Annual cost of living: $38,017
• Annual cost after Social Security: $15,507
• How many years $250K will last: 16.12

• Population 65+ (%): 14%
• Livability: 71
• Annual cost of living: $37,683
• Annual cost after Social Security: $15,173
• How many years $250K will last: 16.48

• Population 65+ (%): 14%
• Livability: 80
• Annual cost of living: $36,395
• Annual cost after Social Security: $13,885
• How many years $250K will last: 18.01

• Population 65+ (%): 15%
• Livability: 84
• Annual cost of living: $36,090
• Annual cost after Social Security: $13,580
• How many years $250K will last: 18.41

• Population 65+ (%): 17%
• Livability: 75
• Annual cost of living: $35,988
• Annual cost after Social Security: $13,478
• How many years $250K will last: 18.55

• Population 65+ (%): 11%
• Livability: 79
• Annual cost of living: $35,910
• Annual cost after Social Security: $13,400
• How many years $250K will last: 18.66

• Population 65+ (%): 17%
• Livability: 73
• Annual cost of living: $35,788
• Annual cost after Social Security: $13,278
• How many years $250K will last: 18.83

• Population 65+ (%): 14%
• Livability: 68
• Annual cost of living: $31,984
• Annual cost after Social Security: $9,474
• How many years $250K will last: 26.39

• Population 65+ (%): 16%
• Livability: 65
• Annual cost of living: $30,999
• Annual cost after Social Security: $8,489
• How many years $250K will last: 29.45

Methodology: For this study, GOBankingRates analyzed the most beautiful cities in the United States to find the places to retire with $250,000 in savings. First GOBankingRates found the most beautiful cities from Forbes.com’s Most Beautiful Cities in the U.S., Condé Nast Traveler’s Most Beautiful Places in America, U.S. News & World Report’s Best Places in the U.S. for the Weather, and Time Out’s Most Beautiful Towns in America. For each location, GOBankingRates found total population, population ages 65 and over, median household income, total households, all sourced from the U.S. Census American Community Survey. The cost-of-living indexes were sourced from Sperling’s BestPlaces and include the grocery, healthcare, housing, utilities, transportation and miscellaneous cost-of-living indexes. Using the cost-of-living indexes for grocery, healthcare, utilities, transportation and miscellaneous as well as the national average expenditure costs, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost for each location was calculated. The livability index was sourced from AreaVibes for each location and included as supplemental information. The average single family home value was sourced from Zillow Home Value Index for October 2024. Using the average single-family home value, assuming a 10% down payment, and using the most recent national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage was calculated. Using the average mortgage and average expenditure costs, the average total monthly and annual cost of living was calculated. The average Social Security Benefits for one person was sourced from the Social Security Administration for each city and the total cost of living after Social Security Benefits was calculated for each city. Using $250,000 as a savings buffer, the time it takes to drawdown that amount in retirement can be calculated. The cities were sorted to show the longest time you can survive in retirement on $250,000. All data was collected on and is up to date as of Nov. 18, 2024.