3 Places To Retire That Are Just Like Connecticut but Way Cheaper

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Connecticut is one of New England’s beloved states. Many upcoming retirees look to Connecticut for its mix of rural and urban areas, as well as access to the coast.  It’s known for its quaint, natural environment and smaller towns, according to Unbiased. That being said, the state also has a cost of living 17% to 25% higher than the national average, along with higher health care and housing costs. Connecticut’s premier educational institutions, corporate headquarters, insurance industry and manufacturing scene account for its prosperous economy.

An article from CNBC revealed that it was the seventh most expensive state to retire to in 2023, behind Hawaii and Maryland. If Connecticut sounds like a place you’d like to be but find that the cost of living is too high, read on. We’ve used the cost of housing (own), cost of housing (rent) and healthcare as three metrics for reference points to gather three states that are similar to Connecticut but much cheaper.

1. Georgia

Georgia features plenty of natural attractions and coastline access for beach lovers. According to Kiplinger, it also features strong health care, with one of the lowest average annual costs, at $8,200. Renters can expect to pay around $1,600 monthly, while the average home value is $320,000.

2. Michigan

Michigan’s local lakes offer great fishing and outdoor opportunities, comparable to Connecticut. The average home value in Michigan is $236,000, which is substantially less than Connecticut’s $362,100. Retirees can also expect to save over $2,000 annually on health care, with an average expenditure of $9,500. The average monthly rent is $1,300.

3. Pennsylvania

The state has its fair share of small town comforts, not to mention the draw of culture and history. Individuals and families can also enjoy hiking along the many rivers and forests. While Pennsylvania’s healthcare is only slightly lower, at $11,200, retirees would still benefit from the much more affordable housing, where the typical home value is $257,000. The average monthly cost to rent is $1,660.

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