5 Places To Retire That Are Just Like San Diego but Way Cheaper
Written by
Sean Bryant
Edited by
Levi Leidy
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San Diego is a dream for many retirees. It offers nearly continuous sunshine, great restaurants and plenty of activities to keep you busy. Unfortunately, it’s also extremely expensive. According to Zillow, the average San Diego home price is $1.03 million.
If you’re seeking a warm, tropical location to enjoy your retirement, San Diego might not fit into your budget. Luckily, there are many other locations that offer the same great features of San Diego without the price tag.
Myrtle Beach, South Carolina
The first location, Myrtle Beach, might be on the opposite side of the country, but it’s a popular spot for retirees. With an average home price of $307,680, owning a home will be much more affordable.
Similar to San Diego, Myrtle Beach is a tourist destination. Its population increases significantly during the summer months, with people coming to enjoy the great beach weather. But don’t let the crowds scare you away — Myrtle Beach has a great laid-back vibe.
One of the best aspects of Myrtle Beach is the abundance of things to do. Located on the Atlantic Ocean and near numerous lakes, there’s an endless supply of fishing holes to enjoy. Plus, the area has more than 90 golf courses. Myrtle Beach is also home to many great restaurants, breweries and distilleries.
One more reason to consider Myrtle Beach is that South Carolina is a tax-friendly state for retirees. Social Security benefits are not taxed, and retirees can enjoy a $10,000 taxable income deduction on other sources of retirement income.
Tampa, Florida
While still offering a warm, tropical climate, Tampa provides a much cheaper cost of living than most coastal California cities, including San Diego. With an average home price of just over $385,000, owning a home will be much more affordable.
Tampa is also full of things to do no matter what you enjoy. It has dozens of golf courses, miles of sandy white beaches and several professional sports teams, including the NFL’s Tampa Bay Buccaneers and NHL’s Tampa Bay Lightning.
Florida is also one of the few states with no state income tax. That means Social Security benefits, income from a pension, 401(k) and IRA will all be untaxed at the state level.
“Housing is much less expensive in Tampa than San Diego, and the sunny warm weather is great for retirees,” said Brian Mollo, CEO of Trusted House Buyers. “Additionally, Tampa has a lot of amenities like a great zoo and easy access to lakes and the ocean.”
Austin, Texas
While Austin isn’t a coastal community like San Diego, it does have a lot of similar aspects that retirees love. The cost of living is slightly higher than the first two cities on the list, but it’s still considerably lower than that of San Diego. Average home prices are just shy of $552,000, meaning your money won’t go as far as it might in Tampa or Myrtle Beach, but you’ll get much more than you would in San Diego.
Austin has a great cultural scene, amazing restaurants and some of the best music venues in the country. Plus, dozens of miles of trails are perfect for hiking and biking. Just be aware that the summer can get hot. Temperatures in July can average above 90 degrees.
Like Florida, Texas has no state income tax, meaning your retirement benefits will go untaxed. However, the state has higher-than-average property taxes, so you’ll want to factor this into your budget if you plan to purchase a home.
Charlotte, North Carolina
Heading back to the East Coast, Charlotte has hot and humid summers with mild winters. What’s great about Charlotte is that you can have the best of both worlds. Downtown Charlotte is full of life, with plenty of activities to keep you busy — not to mention the NASCAR Hall of Fame. But then you can head outside the city and enjoy the rolling hills and lakes.
The cost of living in Charlotte is slightly higher than the national average but well below most California cities along the coast. Real estate prices are also affordable, with the average home priced at $401,432.
North Carolina doesn’t tax Social Security benefits, but other sources of retirement income are taxed at a flat rate of 4.75%. The state also has low property taxes, which is great for homeowners.
“The cost of living in Charlotte is significantly lower (than San Diego), but the city still has a lot of comparable amenities,” said Mollo. “Popular music acts often tour through Charlotte, and the atmosphere is known to be friendly and laid-back, similar to San Diego.”
Charleston, South Carolina
What’s not to love about Charleston? This city is full of history, which is prominently displayed in its beautiful architecture that both city and suburb dwellers get to enjoy. As a coastal city, it also has great weather nearly year-round.
With average house prices at $559,000, it’s slightly above others on this list but significantly more affordable than you’ll find in San Diego. Additionally, healthcare expenses in Charleston are roughly 4% below the national average.
The Bottom Line
Most places in California are expensive and San Diego is no exception. If you’re looking for a place to retire that can offer you some of the same qualities like great weather, amazing restaurants and plenty of things to do, then you’ll want to consider one of these cities.
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