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Cheapest Places To Retire in the South in 2025

August 14, 2025

3 min Read

Written by T. Woods

Edited by Chris Cluff

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Preparing for retirement requires more than just careful saving (though that’s very important as well). A wise retiree also will choose a retirement town or city that is affordable, so the person’s nest egg can last the rest of his or her life.

That’s why GOBankingRates has analyzed the data and compiled a list of the cheapest American cities to retire in. Eleven of the top 20 are located in the South. If you are looking for a city in the South that won’t drain your retirement savings, here are 20 of the best.

20. Louisville, Kentucky

Population 65+: 15.9%
Monthly cost of living (with mortgage): $3,305
Livability: 66

19. Winston-Salem, North Carolina

Population 65+: 14.8%
Monthly cost of living (with mortgage): $3,293
Livability: 63

18. Fayetteville, North Carolina

Population 65+: 12.7%
Monthly cost of living (with mortgage): $3,172
Livability: 73

17. El Paso, Texas

Population 65+: 13.9%
Monthly cost of living (with mortgage): $3,129
Livability: 81

16. Corpus Christi, Texas

Population 65+: 15.0%
Monthly cost of living (with mortgage): $3,119
Livability: 80

15. Oklahoma City

Population 65+: 13.3%
Monthly cost of living (with mortgage): $3,084
Livability: 81

14. Tulsa, Oklahoma

Population 65+: 15.0%
Monthly cost of living (with mortgage): $3,069
Livability: 75

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13. Mobile, Alabama

Population 65+: 17.1%
Monthly cost of living (with mortgage): $3,057
Livability: 73

12. Lubbock, Texas

Population 65+: 12.5%
Monthly cost of living (with mortgage): $3,049
Livability: 78

11. Baltimore

Population 65+: 14.9%
Monthly cost of living (with mortgage): $3,003
Livability: 77

10. Little Rock, Arkansas

Population 65+: 15.2%
Monthly cost of living (with mortgage): $2,988
Livability: 72

9. Amarillo, Texas

Population 65+: 14.8%
Monthly cost of living (with mortgage): $2,903
Livability: 66

8. Brownsville, Texas

Population 65+: 12.6%
Monthly cost of living (with mortgage): $2,885
Livability: 79

7. Augusta, Georgia

Population 65+: 14.8%
Monthly cost of living (with mortgage): $2,836
Livability: 64

6. Macon, Georgia

Population 65+: 16.2%
Monthly cost of living (with mortgage): $2,822
Livability: 75

5. Montgomery, Alabama

Population 65+: 15.6%
Monthly cost of living (with mortgage): $2,771
Livability: 64

4. Columbus, Georgia

Population 65+: 14.4%
Monthly cost of living (with mortgage): $2,750
Livability: 64

3. Birmingham, Alabama

Population 65+: 16.2%
Monthly cost of living (with mortgage): $2,678
Livability: 67

2. Memphis, Tennessee

Population 65+: 14.1%
Monthly cost of living (with mortgage): $2,667
Livability: 70

1. Shreveport, Louisiana

Population 65+: 17.4%
Monthly cost of living (with mortgage): $2,556
Livability: 60

For this study, GOBankingRates analyzed the cities to find the cheapest places to retire. GOBankingRates identified cities with populations of at least 150,000 and a population percentage of residents aged 65 and over of at least 10%. Population and income data was sourced from the U.S. Census American Community Survey. Cost of living was determined using Sperling’s BestPlaces, the Bureau of Labor Statistics Consumer Expenditure Survey for retired households, Zillow and the Federal Reserve. The livability index was sourced from AreaVibes. All data was collected on and is up to date as of Feb. 18, 2025.

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