Cheapest City To Retire in Every East Coast State

Popular East Coast cities such as New York City, Hartford, Miami and Boston (as well as several more) all have their uniquely wonderful features, from arts and culture to beautiful beachfront properties to lovely neighborhoods. However, they all also feature shockingly high cost of living when compared to other cities throughout the country.

Indeed, there are a number of cities along the East Coast that are far less expensive than the more famous cities on the Eastern Seaboard. As such, GOBankingRates recently compiled a great deal of information about the cities of the East, measuring such data as population levels for residents over the age of 65, general livability and the annual costs of living, all to determine the cheapest cities for retirees to settle in every East Coast state.

If you are dreaming of an East Coast retirement, consider one of these inexpensive cities.

• Population 65+: 2,004
• Livability score: 85
• Annual cost of living: $40,628

• Population 65+: 772
• Livability score: 75
• Annual cost of living: $39,494

• Population 65+: 254
• Livability score: 66
• Annual cost of living: $31,311

• Population 65+: 582
• Livability score: 65
• Annual cost of living: $25,048

• Population 65+: 1,413
• Livability score: 68
• Annual cost of living: $31,776

• Population 65+: 192
• Livability score: 64
• Annual cost of living: $25,510

• Population 65+: 2,868
• Livability score: 56
• Annual cost of living: $37,959

• Population 65+: 1,838
• Livability score: 65
• Annual cost of living: $33,300

• Population 65+: 7,946
• Livability score: 70
• Annual cost of living: $31,828

• Population 65+: 178
• Livability score: 71
• Annual cost of living: $28,901

• Population 65+: 280
• Livability score: 56
• Annual cost of living: $26,701

• Population 65+: 1,046
• Livability score: 58
• Annual cost of living: $24,108

• Population 65+: 2,037
• Livability score: 64
• Annual cost of living: $47,350

• Population 65+: 506
• Livability score: 55
• Annual cost of living: $25,177

• Population 65+: 2,265
• Livability score: 61
• Annual cost of living: $39,535

• Population 65+: 255
• Livability score: 56
• Annual cost of living: $24,899

Editor’s note: Photos are for representational purposes only and might not reflect the exact locations listed.

Methodology: For this study, GOBankingRates analyzed cities in East Coast states to find the cheapest city to retire in each state. First GOBankingRates identified cities in East Coast states: Connecticut, Delaware, Florida, Georgia, Massachusetts, Maryland, Maine, North Carolina, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, South Carolina, Virginia, Vermont. Once the cities were identified, GOBankingRates found total population, population ages 65 and over, total households and household median income, all sourced from the U.S. Census American Community Survey. Using this data, the percentage of the population ages 65 and over was calculated. 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 and the national average expenditure costs for retired residents, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost for retired residents for each location was calculated. The livability index was sourced from AreaVibes for each location. The average single-family home value was sourced from Zillow Home Value Index for November 2024. Using the average home value, assuming a 10% down payment, and using the most recent national average 30-year fixed mortgage rate (sourced from the Federal Reserve Economic Data), the average mortgage was calculated. Using the average mortgage and average expenditure costs, the average cost of living was calculated. The cities with the lowest cost of living for each state were found to determine the cheapest cities for retirees in each state. All data was collected on and is up to date as of Jan. 8, 2025.