How Much It Costs To Live in the 8 Places With the Happiest Retirees

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Imgorthand / Getty Images

When it comes to retiring, you want to live comfortably. That means settling in a place that has everything you need, where your mental health is high, and your costs are low.

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Some of the most popular places to retire in the United States aren’t always the most affordable. GOBankingRates took a look at some of the best places to retire according to a U.S. News Analysis and broke down exactly how much it costs to live in each of those spots.

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Pensacola, Florida

  • Cost of Living Per Person: $1,735/mo
  • Avg. Rent & Utilities: $1,084/mo

Pensacola was ranked one of the best places to retire by U.S. News, and offers all of the amenities of Florida at a fairly affordable price. You’re close to tons of beaches, and there’s a number of festivals all year round to keep you busy and fed. For example, the Pensacola Seafood Festival offers fresh food straight from the Gulf of Mexico with views that will wow you. 

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Retire Comfortably
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Allentown, Pennsylvania

  • Cost of Living Per Person: $2,169/mo
  • Avg. Rent & Utilities: $1,506/mo

Allentown offers tons of historical sights that have been preserved over hundreds of years that help give this city a lot of character. Residents will enjoy access to many museums in the town, as well as multiple theaters and concert halls. Allentown is only a short drive from Philadelphia or New York, so you the big city is close, but just far enough to let you get away from the hustle and bustle. 

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Ann Arbor, Michigan

  • Cost of Living Per Person: $2,176/mo
  • Avg. Rent & Utilities: $1,423/mo

Ann Arbor is a big retirement hot spot, and it makes sense. The city has a lot to offer, especially if you love sports. Football fans can catch a Michigan game at the University of Michigan. Ann Arbor also offers tons of parks and hiking trails for the outdoorsman. The Huron River is a local favorite for hanging out or taking a canoe on the water for a relaxing ride. 

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Fort Meyers, Florida

  • Cost of Living Per Person: $2,049/mo
  • Avg. Rent & Utilities: $1,294/mo

Fort Myers is another popular Florida destination for retirees. Take a boat to Sanibel or Captiva islands or check out dolphins at Ding Darling National Wildlife Refuge. If you retire in Fort Myers, your cost of living is just under $2,000 a month for renters, and you’ll have access to world renowned bars and restaurants. 

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Tampa, Florida

  • Cost of Living Per Person: $2,403/mo
  • Avg. Rent & Utilities: $1,550/mo

It’s no surprise there are multiple Florida cities on the list. There are 3.5 million people living in Florida who are over the age of 65. And with Tampa’s beach lifestyle, it’s no wonder Tampa makes the list as one of the top spots to retire. There is great fishing and other activities available to enjoy on the water, as well as theme parks to take the grandkids to when they visit. 

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Lancaster, Pennsylvania

  • Cost of Living Per Person: $1,895/mo
  • Avg. Rent & Utilities: $1,121/mo

Lancaster is one of the most affordable and desirable places to retire. Lancaster offers the peaceful, wide open spaces to relax, while still having the amenities of a city. Plus, there are lots of historical landmarks to visit and hiking trails so you can stay fit. Since Lancaster is surrounded by Amish farmland, you’ll have bountiful access to fresh produce, and the opportunity to purchase unique Amish crafts. 

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Melbourne, Florida

  • Cost of Living Per Person: $1,982/mo
  • Avg. Rent & Utilities: $1,323/mo

Of all the Florida cities to retire in, what makes Melbourne special is its proximity to the Kennedy Space Center. Melbourne is located on what’s referred to as the “Space Coast,” meaning residents have the opportunity to watch rockets launch into the last frontier. Additionally, Melbourne has all the perks of other Florida cities on this list, like quick access to the beach and dolphin sightings. 

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Sarasota, Florida

  • Cost of Living Per Person: $2,493/mo
  • Avg. Rent & Utilities: $1,648/mo

Sarasota ranked as the #1 best spot to retire on the U.S. News list. What makes it so great? Sarasota is home to Lido Key, Casey Key, Longboat Key and Siesta Key, two white sand beaches that are extremely gorgeous. Residents also reported having strong relationships with the people in their community. Additionally, Sarasota is one of the country’s top golf destinations, with many courses throughout the city. 

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