25 U.S. Cities Where Retirees Can Live Comfortably on Social Security for Under $2,000 a Month

Affordable Places to Retire on Social Security. Are you looking for affordable places to live on Social Security? A new report lists the best U.S. cities where retirees can enjoy a good quality of life without spending too much.

Many Americans think about retiring abroad to stretch their money further. But according to a new study by GoBankingRates, you don’t have to leave the U.S. to find affordable retirement options—even if Social Security is your main income.

The average Social Security payment is about $2,000 a month. For many retirees, this is their only income. But in most U.S. cities, this amount barely covers housing, food, and healthcare. In fact, according to the Federal Reserve Bank of St. Louis, the average household over age 65 spends about $4,345 a month.

To help, GoBankingRates created a list of 25 U.S. cities where retirees can live well, enjoy warm weather, and keep monthly expenses under $2,000. The study looked at factors like population, number of older residents, cost of living, climate, and livability. Data came from several sources, including the U.S. Census, Bureau of Labor Statistics, Zillow, and the Social Security Administration.

The Best City to Retire Affordably

The report found Tallahassee, Florida, to be the most affordable U.S. city for retirees. Renters spend about $995 a month, while homeowners spend around $1,248—much lower than the national average. By comparison, most U.S. retirees spend about $1,787 per month on housing alone.

About 11% of Tallahassee’s population is retirement age, and the city’s overall cost of living is 10% lower than average. Its livability score is a strong 85/100. Retirees can enjoy parks, hiking trails, cultural activities, and even nightlife. Winters are mild, while summers are hot and humid.

Florida Leads the Way

Florida has eight cities on the list of the most affordable retirement spots. The state’s low cost of living, warm weather, and no state income tax make it very attractive. Retirees in states with no income tax, like Florida, Texas, and Nevada, can save thousands compared to states like California or New York, where income tax can reach 6%–10%.

Transportation costs also matter. The average retiree household spends about $753 a month on transportation, making it the second-largest expense after housing. In cities with strong public transport, like New York or Boston, retirees can save money in this area even though housing costs are higher.

Fort Myers is ranked No. 2 with a livability score of 85. About 22% of its population are retirees, one of the highest in the country. The cost of living is about 4% higher than the U.S. average. Homeowners spend about $1,746 a month, while renters pay around $1,468.

Jacksonville is No. 4 with a livability score of 84. Retired homeowners spend about $1,197 a month, and renters about $1,073. The cost of living is about 4% lower than the national average. With beaches, activities, and nightlife, it’s one of Florida’s best-value big cities.

Pensacola is No. 5 with a livability score of 83. Homeowners spend about $929 a month, and renters about $1,136. The cost of living is 11% below the national average. Along with white-sand beaches and a lively arts scene, it’s one of Florida’s most affordable coastal towns.

Other Florida cities in the top 25 include Orlando (No. 13), Daytona Beach (No. 16), Tampa (No. 19), and Lakeland (No. 25).

Other Affordable Retirement Cities in the U.S.

Texas is another top choice for retirees living on Social Security. It has five cities in the top 25: El Paso (No. 9), Dallas (No. 10), San Antonio (No. 14), Corpus Christi (No. 15), and Midland (No. 22). Texas is attractive because of its low housing costs, warm weather, and no state income tax.

The Southeast is a popular place for retirees. Besides Florida and Texas, many cities in the Carolinas and Georgia are also top choices. In North Carolina, Raleigh ranks No. 3 and Charlotte No. 18. South Carolina has Greenville at No. 6 and Columbia at No. 21. In Georgia, Athens is No. 17 and Savannah is No. 12.

Only three Northern cities make the list—Providence, Rhode Island (No. 8), Milwaukee, Wisconsin (No. 20), and New Haven, Connecticut (No. 24). This shows the South is leading for affordable retirement living.

In the West, the only city to make the list is Las Vegas, ranking No. 7. Homeowners there pay about $2,089 a month, and renters about $1,203. Retirees like it for the entertainment and lower healthcare costs. Even though overall living costs are about 10% higher than the U.S. average, healthcare is about 7% cheaper. That matters because healthcare is one of the biggest retirement expenses. On average, households age 65 and older spend $7,540 a year on healthcare, which is about 13% of their total spending.

The takeaway: Retirees don’t have to move abroad. The U.S. has plenty of affordable and attractive retirement spots.

Ranked: 25 Best U.S. Cities To Retire Affordably

1. Tallahassee, Florida
2. Fort Myers, Florida
3. Raleigh, North Carolina
4. Jacksonville, Florida
5. Pensacola, Florida
6. Greenville, South Carolina
7. Las Vegas, Nevada
8. Providence, Rhode Island
9. El Paso, Texas
10. Dallas, Texas
11. Norfolk, Virginia
12. Savannah, Georgia
13. Orlando, Florida
14. San Antonio, Texas
15. Corpus Christi, Texas
16. Daytona Beach, Florida
17. Athens, Georgia
18. Charlotte, North Carolina
19. Tampa, Florida
20. Milwaukee, Wisconsin
21. Columbia, South Carolina
22. Midland, Texas
23. Atlanta, Georgia
24. New Haven, Connecticut
25. Lakeland, Florida

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