When it comes to retirement, the desire for sunny weather, recreational opportunities and a low cost of living usually tops the list of must-haves. While Florida may have once been the go-to state for such desires, escalating costs are prompting retirees to consider alternatives.
Keep reading to learn more.
5 Places for Retirement That Are Cheaper Than Florida
Each of these locations offers its own unique charm and set of benefits that align with the desires of those looking to stretch their dollars in retirement. With the average yearly cost of living in Florida being around $50,689 per person, it’s important for retirees to consider more affordable alternatives. Here are five such alternatives to the Sunshine State, where retirees can enjoy a rich lifestyle without the hefty price tag:
- Athens, Georgia
- Biloxi, Mississippi
- Chattanooga, Tennessee
- Corpus Christi, Texas
- Tucson, Arizona
Known for its vibrant cultural scene, Athens offers a warm climate similar to Florida’s, but with a significantly lower cost of living. The average monthly cost of living in Athens is approximately $1,952 per person, making it an attractive alternative for retirees. With a robust lineup of music festivals, art events and historical sites, Athens is a good option for retirees seeking both entertainment and affordability.
With its sunny beaches, coastal lifestyle and variety of casinos, Biloxi presents itself as a favorable destination for those who love both relaxation and excitement. The average monthly cost of living in Biloxi is approximately $1,729 per person, making it a considerably more affordable option compared to Florida. Biloxi is an appealing choice for retirees on a fixed income, offering a blend of leisure and affordability.
Situated along the Tennessee River, Chattanooga offers retirees a picturesque setting combined with a mild climate and a variety of recreational activities. The city is surrounded by mountains and is known for its vibrant arts scene, extensive walking trails and affordable living costs. With an average monthly cost of living of approximately $1,970 per person, Chattanooga stands out as a more budget-friendly alternative to Florida. Its beautiful landscapes and diverse cultural offerings make it an appealing choice for those seeking an affordable yet enriching retirement experience.
Corpus Christi, Texas
Corpus Christi, located on the Gulf of Mexico, offers a coastal experience akin to Florida. With miles of beaches, rich marine life and affordable housing options, it is a hidden gem for retirees. The average monthly cost of living in Corpus Christi is approximately $1,544 per person, making it a compelling choice for those seeking a balance between coastal living and financial prudence.
While not a coastal city, Tucson offers a warm climate, scenic landscapes and a variety of recreational activities. With an average monthly cost of living of approximately $2,030 per person, it presents a relatively more affordable lifestyle. Tucson’s rich history and diverse cultural events further enhance its appeal, making it a standout choice for retirees. The city’s blend of affordability, natural beauty and vibrant culture offers a valuable alternative for those seeking a fulfilling retirement experience.
Finding a place that feels like Florida but doesn’t stretch your budget can be challenging, but the locations above offer a promising alternative. Whichever place you choose, remember to consider your financial situation, prioritize your needs and explore the local culture and amenities to ensure a comfortable and fulfilling retirement.
Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.
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Data is accurate as of Dec. 28, 2023, and was sourced from Livingcost and SoFi.
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- SoFi. 2023. "Cost of Living in Florida."