50 Cheap, Beautiful Places To Retire

If you’re like most people facing retirement, you don’t have an unlimited budget. Even so, that doesn’t mean that you have to settle for living out what are supposed to be your golden years in a less-than-desirable locale just to make ends meet.

Arizona vs. Florida for Retirement: Which Is Best for You?

Retirement should be about enjoying your life with minimal stress and spending some time in the sun. To do that on a budget, though, you’ll need to choose a retirement destination that’s not only affordable but also features a hospitable climate. To assist you in your relocation plans, GOBankingRates looked at hundreds of U.S. cities to find the 50 cheapest places to retire that feature beautiful, sunny weather.

More often than not, retirees will find the most affordable and sunniest retirement destinations in the southernmost state of the continental U.S. — Florida. Eight out of the top 10 U.S. cities on this list are located in Florida. And over 50% of the entire list is made up of cities in the Sunshine State.

If the West Coast is more your preference, you’re in luck, because a few locations in California made the list. And if locations in Florida or California don’t appeal, there’s a handful of other affordable cities to choose from.

To rank in the study, each city had to meet the following requirements: More than 25% of the population had to be age 65 or older, the median home listing price needed to be among the most affordable and the average annual temperature needed to fall in the moderate range. Check out these beautiful places to retire that won’t stretch your bank account.

Prescott, Arizona

• Median list price: $459,000
• Average temperature (Fahrenheit): 55.8
• Total population: 41,468
• Percentage of population 65 and older: 35.5%

Read: Best Cities To Retire on a Budget of $1,500 a Month

Niles, Illinois

• Median list price: $319,500
• Average temperature (Fahrenheit): 49.4
• Total population: 29,823
• Percentage of population 65 and older: 25.2%

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Huntley, Illinois

• Median list price: $271,990
• Average temperature (Fahrenheit): 48.4
• Total population: 26,265
  
• Percentage of population 65 and older: 30.5%

Discover: Most Affordable Places To Retire Near You

Lincoln, California

• Median list price: $510,995
• Average temperature (Fahrenheit): 65
  
• Total population: 46,404
• Percentage of population 65 and older: 27.2%
  

Hilton Head Island, South Carolina

• Median list price: $489,000
• Average temperature (Fahrenheit): 65.7
• Total population: 39,666
  
• Percentage of population 65 and older: 34%
  

Hot Springs Village, Arkansas

• Median list price: $232,000
• Average temperature (Fahrenheit): 54.4
  
• Total population: 13,918
• Percentage of population 65 and older: 61.5%
  

Read: How To Protect Your Retirement Savings During the Pandemic

Marco Island, Florida

• Median list price: $579,900
• Average temperature (Fahrenheit): 71.8
  
• Total population: 17,561
  
• Percentage of population 65 and older: 51.5%

Fountain Hills, Arizona

• Median list price: $515,000
• Average temperature (Fahrenheit): 69
  
• Total population: 24,047
  
• Percentage of population 65 and older: 34.7%
  

Holiday City-Berkeley, New Jersey

• Median list price: $189,000
• Average temperature (Fahrenheit): 54
• Total population: 12,242
• Percentage of population 65 and older: 70.1%

Pictured: Barnegat Inlet in Island Beach State Park in Berkeley Township, New Jersey

Laguna Woods, California

• Median list price: $319,000
• Average temperature (Fahrenheit): 62.4
• Total population: 16,314
• Percentage of population 65 and older: 82.5%

Pictured: Laguna Woods Village Golf Course

Read: How Much It Cost To Retire in the Year You Were Born

Bella Vista, Arkansas

• Median list price: $197,700
• Average temperature (Fahrenheit): 57
• Total population: 28,092
  
• Percentage of population 65 and older: 32%
  

Banning, California

• Median list price: $277,092
• Average temperature (Fahrenheit): 61.8
• Total population: 30,824
• Percentage of population 65 and older: 26.6%
  

Find Out: 27 Ugly Truths About Retirement

Oro Valley, Arizona

• Median list price: $348,949
• Average temperature (Fahrenheit): 65.4
• Total population: 42,889
  
• Percentage of population 65 and older: 30%
  

Pictured: Sonoran Desert nearby

Georgetown, Texas

• Median list price: $323,990
• Average temperature (Fahrenheit): 64.5
• Total population: 63,062
• Percentage of population 65 and older: 29.8%

Pahrump, Nevada

• Median list price: $239,900
• Average temperature (Fahrenheit): 62.1
• Total population: 35,812
• Percentage of population 65 and older: 31.2%

Saddlebrooke, Arizona

• Median list price: $339,950
• Average temperature (Fahrenheit): 67.5
• Total population: 10,300
• Percentage of population 65 and older: 69.4%

Palm Springs, California

• Median list price: $468,000
• Average temperature (Fahrenheit): 73.9
• Total population: 47,140
• Percentage of population 65 and older: 30%

Palm Beach Gardens, Florida

• Median list price: $455,000
• Average temperature (Fahrenheit): 73.5
• Total population: 53,119
• Percentage of population 65 and older: 29.2%

Palm City, Florida

• Median list price: $425,000
• Average temperature (Fahrenheit): 73.3
• Total population: 24,537
• Percentage of population 65 and older: 29.9%

Green Valley, Arizona

• Median list price: $199,900
• Average temperature (Fahrenheit): 63
• Total population: 21,912
• Percentage of population 65 and older: 77.3%

Aventura, Florida

• Median list price: $399,000
• Average temperature (Fahrenheit): 73
• Total population: 37,875
• Percentage of population 65 and older: 28.3%

Lake Havasu City, Arizona

• Median list price: $333,000
• Average temperature (Fahrenheit): 70
• Total population: 53,463
• Percentage of population 65 and older: 31.5%

New Smyrna Beach, Florida

• Median list price: $341,000
• Average temperature (Fahrenheit): 70.9
• Total population: 25,103
• Percentage of population 65 and older: 36.4%

Palm Desert, California

• Median list price: $399,000
• Average temperature (Fahrenheit): 73.9
• Total population: 51,675
• Percentage of population 65 and older: 33%

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Sun Lakes, Arizona

• Median list price: $333,000
• Average temperature (Fahrenheit): 71
• Total population: 14,800
  
• Percentage of population 65 and older: 78.9%

Sarasota, Florida

• Median list price: $359,000
• Average temperature (Fahrenheit): 73.1
• Total population: 55,103
  
• Percentage of population 65 and older: 26.5%

Naples, Florida

• Median list price: $399,000
• Average temperature (Fahrenheit): 75.1
• Total population: 21,279
  
• Percentage of population 65 and older: 51.5%

Bonita Springs, Florida

• Median list price: $389,450
• Average temperature (Fahrenheit): 74.7
• Total population: 51,890
• Percentage of population 65 and older: 38.7%

Ormond Beach, Florida

• Median list price: $298,450
• Average temperature (Fahrenheit): 70.7
• Total population: 41,238
• Percentage of population 65 and older: 29.4%

Palm Coast, Florida

• Median list price: $269,000
• Average temperature (Fahrenheit): 69.4
• Total population: 82,356
• Percentage of population 65 and older: 27%

Sun City West, Arizona

• Median list price: $$255,950
• Average temperature (Fahrenheit): 69
• Total population: 25,085
• Percentage of population 65 and older: 82.8%

Pictured: Sun City, Arizona

Palm Harbor, Florida

• Median list price: $319,900
• Average temperature (Fahrenheit): 72
• Total population: 61,553
  
• Percentage of population 65 and older: 27.1%
  

Tarpon Springs, Florida

• Median list price: $304,900
• Average temperature (Fahrenheit): 72
• Total population: 24,686
• Percentage of population 65 and older: 28.5%

Dunedin, Florida

• Median list price: $299,00
• Average temperature (Fahrenheit): 72.6
• Total population: 36,099
• Percentage of population 65 and older: 30.6%

Apache Junction, Arizona

• Median list price: $220,000
• Average temperature (Fahrenheit): 69
• Total population: 38,452
• Percentage of population 65 and older: 31.3%
  

Estero, Florida

• Median list price: $339,900
• Average temperature (Fahrenheit): 74.7
• Total population: 31,510
• Percentage of population 65 and older: 45.3%

Venice, Florida

• Median list price: $$291,945
• Average temperature (Fahrenheit): 73
• Total population: 22,192
• Percentage of population 65 and older: 61.1%

The Villages, Florida

• Median list price: $269,900
• Average temperature (Fahrenheit): 72.2
• Total population: 74,618
• Percentage of population 65 and older: 78.6%

Englewood, Florida

• Median list price: $299,900
• Average temperature (Fahrenheit): 73.8
• Total population: 15,169
• Percentage of population 65 and older: 49.4%

Sun City, Arizona

• Median list price: $189,000
• Average temperature (Fahrenheit): 69
• Total population: 39,000
• Percentage of population 65 and older: 75.6%

Iona, Florida

• Median list price: $280,360
• Average temperature (Fahrenheit): 74
• Total population: 14,349
• Percentage of population 65 and older: 52.4%

Pictured: Shell Point Golf Course

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Punta Gorda, Florida

• Median list price: $267,500
• Average temperature (Fahrenheit): 73.9
• Total population: 18,656
• Percentage of population 65 and older: 55.3%

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Largo, Florida

• Median list price: $238,000
• Average temperature (Fahrenheit): 72.6
• Total population: 82,433
• Percentage of population 65 and older: 25.6%

Pictured: Taylor Lake

Sebastian, Florida

• Median list price: $235,000
• Average temperature (Fahrenheit): 73
• Total population: 23,923
• Percentage of population 65 and older: 31.6%

Rancho Mirage, California

• Median list price: $247,250
• Average temperature (Fahrenheit): 73.9
• Total population: 17,975
• Percentage of population 65 and older: 51.7%

Bullhead City, Arizona

• Median list price: $260,000
• Average temperature (Fahrenheit): 74.7
• Total population: 39,824
• Percentage of population 65 and older: 29.2%

Sun City Center, Florida

• Median list price: $210,245
• Average temperature (Fahrenheit): 72.4
• Total population: 21,986
• Percentage of population 65 and older: 73.7%

Pictured: Sun City Senior Living in Sun City, Florida nearby

Port Charlotte, Florida

• Median list price: $220,000
• Average temperature (Fahrenheit): 73.9
• Total population: 59,654
• Percentage of population 65 and older: 30%

North Fort Meyers, Florida

• Median list price: $210,950
• Average temperature (Fahrenheit): 75.1
• Total population: 40,916
• Percentage of population 65 and older: 47.2%

Pictured: J. Colin English School in North Fort Meyers, Florida

Tamarac, Florida

• Median list price: $199,845
• Average temperature (Fahrenheit): 75.5
• Total population: 64,262
• Percentage of population 65 and older: 26%

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Methodology: GOBankingRates determined the cheapest cities by analyzing 847 U.S. cities with populations of over 10,000 people, narrowing down the list of cities to only those with greater than 25% share of the population being 65-year-olds and older, sourced from the Census Bureau’s 2017 American Community Survey. From this list of cities, the two main factors used were (1) median home listing price, sourced from Zillow’s July 2019 index; and (2) average annual temperature, sourced from Weather Base. All data compiled on Aug. 27, 2019.

About the Author

Cynthia Measom

Cynthia Measom is a personal finance writer and editor with over 12 years of collective experience. Her articles have been featured in MSN, Aol, Yahoo Finance, INSIDER, Houston Chronicle, The Seattle Times and The Network Journal. She attended the University of Texas at Austin and earned a Bachelor of Arts degree in English.

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