Yahoo Finance 100 Best Cities To Retire on $3,000 or Less Per Month
Retirees on tight budgets may want to consider settling down in Austin, Jacksonville or Philadelphia — as in Austin, Minnesota … Jacksonville, Illinois … or New Philadelphia, Ohio.
Each of these three cities with larger and more famous namesakes made GOBankingRates’ latest list of the best places to retire in the U.S. on $3,000 or less per month. Less populated locations dominate this top 100, with roughly half of the cities on the list coming in at less than 30,000 residents. The smallest city in our top 100 — Canton, Oklahoma — only has about 500 citizens.
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Having just $3,000 a month to get by on isn’t uncommon for retirees these days, with average Social Security benefits for couples coming in under $4,000, and large numbers of baby boomers and Gen Xers approaching retirement with little or no savings.
To compile the top 100 best retirement destinations for this group, GOBankingRates looked at data from the Social Security Administration, the U.S. Census, Sperling’s BestPlaces, the Zillow Home Value Index, AreaVibes and the Federal Reserve. Cities with the best blends of $3,000-a-month affordability and livability topped the list, which counts down from 100 to our overall champion. (You can find our full methodology at the end of this story.)
If you’re looking for places where you could get by on $3,000 a month or less, you might want to start with West Virginia. The Mountain State wound up with 13 cities in our top 100, including the No. 1 city. West Virginia was followed by Illinois and Kansas with 10 each. Indiana and Ohio were next with nine apiece. Here’s a look at where you can retire on $3,000 a month.
100. Okeene, Oklahoma
Population: 1,044
Average monthly mortgage: $653
Average monthly cost of living: $2,556
Livability score: 73
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99. Massillon, Ohio
Population: 32,179
Average monthly mortgage: $1,165
Average monthly cost of living: $2,794
Livability score: 73
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98. Loves Park, Illinois
Population: 22,935
Average monthly mortgage: $1,060
Average monthly cost of living: $2,855
Livability score: 73
97. Canton, Oklahoma
Population: 520
Average monthly mortgage: $590
Average monthly cost of living: $2,501
Livability score: 73
96. Fort Dodge, Iowa
Population: 24,850
Average monthly mortgage: $777
Average monthly cost of living: $2,565
Livability score: 73
95. Quinby, South Carolina
Population: 897
Average monthly mortgage: $1,161
Average monthly cost of living: $2,899
Livability score: 73
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94. Moline, Illinois
Population: 42,452
Average monthly mortgage: $843
Average monthly cost of living: $2,535
Livability score: 73
93. Richton, Mississippi
Population: 1,150
Average monthly mortgage: $830
Average monthly cost of living: $2,665
Livability score: 74
92. Pocahontas, Arkansas
Population: 7,384
Average monthly mortgage: $832
Average monthly cost of living: $2,517
Livability score: 74
91. Kinder, Louisiana
Population: 1,934
Average monthly mortgage: $767
Average monthly cost of living: $2,688
Livability score: 74
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90. Mammoth Springs, Arkansas
Population: 1,037
Average monthly mortgage: $889
Average monthly cost of living: $2,550
Livability score: 74
89. Mansfield, Ohio
Population: 47,630
Average monthly mortgage: $793
Average monthly cost of living: $2,415
Livability score: 74
88. Clinton, Arkansas
Population: 2,508
Average monthly mortgage: $961
Average monthly cost of living: $2,630
Livability score: 74
87. Russellville, Arkansas
Population: 28,946
Average monthly mortgage: $1,203
Average monthly cost of living: $2,824
Livability score: 74
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86. Concordia, Kansas
Population: 5,080
Average monthly mortgage: $625
Average monthly cost of living: $2,344
Livability score: 74
85. Keokuk, Iowa
Population: 9,868
Average monthly mortgage: $485
Average monthly cost of living: $2,251
Livability score: 74
84. Washington, Indiana
Population: 12,076
Average monthly mortgage: $840
Average monthly cost of living: $2,446
Livability score: 74
83. Elyria, Ohio
Population: 52,780
Average monthly mortgage: $991
Average monthly cost of living: $2,726
Livability score: 74
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82. Frankfort, Indiana
Population: 15,976
Average monthly mortgage: $1,102
Average monthly cost of living: $2,724
Livability score: 74
81. New Albany, Mississippi
Population: 7,657
Average monthly mortgage: $1,093
Average monthly cost of living: $2,774
Livability score: 74
80. Pekin, Illinois
Population: 32,075
Average monthly mortgage: $743
Average monthly cost of living: $2,570
Livability score: 74
79. Goodland, Kansas
Population: 3,813
Average monthly mortgage: $855
Average monthly cost of living: $2,561
Livability score: 74
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78. Kingman, Kansas
Population: 3,051
Average monthly mortgage: $765
Average monthly cost of living: $2,577
Livability score: 74
77. Bluffton, Indiana
Population: 10,461
Average monthly mortgage: $1,004
Average monthly cost of living: $2,651
Livability score: 74
76. Peoria, Illinois
Population: 113,054
Average monthly mortgage: $731
Average monthly cost of living: $2,742
Livability score: 74
75. Colby, Kansas
Population: 5,403
Average monthly mortgage: $1,012
Average monthly cost of living: $2,700
Livability score: 74
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74. Oxford, Alabama
Population: 22,019
Average monthly mortgage: $1,118
Average monthly cost of living: $2,977
Livability score: 74
73. Ceredo, West Virginia
Population: 1,255
Average monthly mortgage: $886
Average monthly cost of living: $2,869
Livability score: 75
72. Uniontown, Pennsylvania
Population: 9,913
Average monthly mortgage: $875
Average monthly cost of living: $2,530
Livability score: 75
71. Sunbury, Pennsylvania
Population: 9,680
Average monthly mortgage: $894
Average monthly cost of living: $2,799
Livability score: 75
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70. Parsons, West Virginia
Population: 1,524
Average monthly mortgage: $837
Average monthly cost of living: $2,763
Livability score: 75
69. Shelby, North Carolina
Population: 21,712
Average monthly mortgage: $1,161
Average monthly cost of living: $2,948
Livability score: 75
68. North Little Rock, Arkansas
Population: 64,454
Average monthly mortgage: $940
Average monthly cost of living: $2,648
Livability score: 75
67. Alamogordo, New Mexico
Population: 30,996
Average monthly mortgage: $1,244
Average monthly cost of living: $2,889
Livability score: 75
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66. Wisconsin Rapids, Wisconsin
Population: 18,783
Average monthly mortgage: $1,177
Average monthly cost of living: $2,934
Livability score: 75
65. Mishawaka, Indiana
Population: 50,899
Average monthly mortgage: $1,156
Average monthly cost of living: $2,823
Livability score: 75
64. Decatur, Indiana
Population: 9,718
Average monthly mortgage: $1,240
Average monthly cost of living: $2,880
Livability score: 75
63. Guymon, Oklahoma
Population: 12,743
Average monthly mortgage: $935
Average monthly cost of living: $2,828
Livability score: 75
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62. Ottawa, Illinois
Population: 18,708
Average monthly mortgage: $1,104
Average monthly cost of living: $2,909
Livability score: 75
61. McPherson, Kansas
Population: 13,955
Average monthly mortgage: $1,213
Average monthly cost of living: $2,931
Livability score: 75
60. Machesney Park, Illinois
Population: 22,840
Average monthly mortgage: $1,055
Average monthly cost of living: $2,854
Livability score: 75
59. Nederland, Texas
Population: 18,569
Average monthly mortgage: $1,189
Average monthly cost of living: $2,910
Livability score: 75
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58. Bethlehem, West Virginia
Population: 2,577
Average monthly mortgage: $1,200
Average monthly cost of living: $2,989
Livability score: 75
57. Lavaca, Arkansas
Population: 2,467
Average monthly mortgage: $1,138
Average monthly cost of living: $2,826
Livability score: 75
56. West Union, West Virginia
Population: 832
Average monthly mortgage: $653
Average monthly cost of living: $2,559
Livability score: 75
55. Silver City, New Mexico
Population: 9,650
Average monthly mortgage: $1,381
Average monthly cost of living: $2,984
Livability score: 76
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54. Binghamton, New York
Population: 47,617
Average monthly mortgage: $996
Average monthly cost of living: $2,844
Livability score: 76
53. Lock Haven, Pennsylvania
Population: 8,422
Average monthly mortgage: $1,116
Average monthly cost of living: $2,884
Livability score: 76
52. Glasgow, Kentucky
Population: 15,043
Average monthly mortgage: $1,144
Average monthly cost of living: $2,826
Livability score: 76
51. Wilkes-Barre, Pennsylvania
Population: 44,123
Average monthly mortgage: $883
Average monthly cost of living: $2,618
Livability score: 76
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50. Merrill, Wisconsin
Population: 9,266
Average monthly mortgage: $1,130
Average monthly cost of living: $2,823
Livability score: 76
49. Altoona, Pennsylvania
Population: 43,821
Average monthly mortgage: $826
Average monthly cost of living: $2,556
Livability score: 76
48. Abilene, Kansas
Population: 6,489
Average monthly mortgage: $1,021
Average monthly cost of living: $2,788
Livability score: 76
47. Cortland, New York
Population: 17,574
Average monthly mortgage: $1,106
Average monthly cost of living: $2,936
Livability score: 76
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46. New Philadelphia, Ohio
Population: 17,602
Average monthly mortgage: $1,127
Average monthly cost of living: $2,865
Livability score: 76
45. Belleville, Illinois
Population: 42,155
Average monthly mortgage: $832
Average monthly cost of living: $2,632
Livability score: 76
44. Moberly, Missouri
Population: 13,708
Average monthly mortgage: $728
Average monthly cost of living: $2,575
Livability score: 77
43. Fairfield, Iowa
Population: 9,474
Average monthly mortgage: $924
Average monthly cost of living: $2,752
Livability score: 77
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42. Hoisington, Kansas
Population: 2,675
Average monthly mortgage: $492
Average monthly cost of living: $2,207
Livability score: 77
41. Lumberport, West Virginia
Population: 783
Average monthly mortgage: $754
Average monthly cost of living: $2,709
Livability score: 77
40. Jacksonville, Illinois
Population: 17,639
Average monthly mortgage: $768
Average monthly cost of living: $2,558
Livability score: 77
39. Pratt, Kansas
Population: 6,588
Average monthly mortgage: $584
Average monthly cost of living: $2,305
Livability score: 77
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38. Austin, Minnesota
Population: 26,156
Average monthly mortgage: $1,027
Average monthly cost of living: $2,622
Livability score: 77
37. Boone, Iowa
Population: 12,482
Average monthly mortgage: $1,045
Average monthly cost of living: $2,825
Livability score: 77
36. Sioux City, Iowa
Population: 85,469
Average monthly mortgage: $1,132
Average monthly cost of living: $2,903
Livability score: 77
35. Marmaduke, Arkansas
Population: 1,513
Average monthly mortgage: $856
Average monthly cost of living: $2,495
Livability score: 78
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34. Michigan City, Indiana
Population: 31,983
Average monthly mortgage: $991
Average monthly cost of living: $2,621
Livability score: 78
33. Winona, Minnesota
Population: 26,083
Average monthly mortgage: $1,374
Average monthly cost of living: $2,987
Livability score: 78
32. Manitowoc, Wisconsin
Population: 34,500
Average monthly mortgage: $1,232
Average monthly cost of living: $2,818
Livability score: 78
31. Wapakoneta, Ohio
Population: 9,879
Average monthly mortgage: $1,267
Average monthly cost of living: $2,894
Livability score: 78
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30. Urbana, Illinois
Population: 38,741
Average monthly mortgage: $1,090
Average monthly cost of living: $2,889
Livability score: 79
29. Glenville, West Virginia
Population: 1,172
Average monthly mortgage: $729
Average monthly cost of living: $2,631
Livability score: 79
28. Brownsville, Texas
Population: 186,999
Average monthly mortgage: $1,139
Average monthly cost of living: $2,848
Livability score: 79
27. Bedford, Indiana
Population: 13,802
Average monthly mortgage: $1,199
Average monthly cost of living: $2,871
Livability score: 79
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26. Kenova, West Virginia
Population: 3,019
Average monthly mortgage: $772
Average monthly cost of living: $2,751
Livability score: 79
25. Findlay, Ohio
Population: 40,408
Average monthly mortgage: $1,393
Average monthly cost of living: $2,987
Livability score: 79
24. Hillsboro, Kansas
Population: 2,744
Average monthly mortgage: $875
Average monthly cost of living: $2,589
Livability score: 79
23. Springfield, Illinois
Population: 114,214
Average monthly mortgage: $940
Average monthly cost of living: $2,959
Livability score: 79
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22. Youngstown, Ohio
Population: 60,048
Average monthly mortgage: $342
Average monthly cost of living: $2,011
Livability score: 80
21. Huntington, West Virginia
Population: 46,637
Average monthly mortgage: $732
Average monthly cost of living: $2,746
Livability score: 80
20. Alva, Oklahoma
Population: 5,020
Average monthly mortgage: $583
Average monthly cost of living: $2,475
Livability score: 80
19. Akron, Ohio
Population: 190,273
Average monthly mortgage: $764
Average monthly cost of living: $2,505
Livability score: 80
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18. Waterloo, Iowa
Population: 67,256
Average monthly mortgage: $872
Average monthly cost of living: $2,704
Livability score: 80
17. Mount Pleasant, Iowa
Population: 9,214
Average monthly mortgage: $1,089
Average monthly cost of living: $2,868
Livability score: 80
16. Ellsworth, Kansas
Population: 3,081
Average monthly mortgage: $793
Average monthly cost of living: $2,553
Livability score: 80
15. Muncie, Indiana
Population: 65,167
Average monthly mortgage: $821
Average monthly cost of living: $2,556
Livability score: 81
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14. Richmond, Indiana
Population: 35,642
Average monthly mortgage: $847
Average monthly cost of living: $2,454
Livability score: 81
13. Stonewood, West Virginia
Population: 2,428
Average monthly mortgage: $813
Average monthly cost of living: $2,724
Livability score: 81
12. Shinnston, West Virginia
Population: 2,328
Average monthly mortgage: $838
Average monthly cost of living: $2,759
Livability score: 81
11. Friona, Texas
Population: 4,125
Average monthly mortgage: $801
Average monthly cost of living: $2,458
Livability score: 81
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10. Mount Pleasant, Michigan
Population: 21,826
Average monthly mortgage: $1,211
Average monthly cost of living: $2,875
Livability score: 82
9. Erie, Pennsylvania
Population: 94,826
Average monthly mortgage: $1,052
Average monthly cost of living: $2,844
Livability score: 82
8. Clarksburg, West Virginia
Population: 15,977
Average monthly mortgage: $674
Average monthly cost of living: $2,676
Livability score: 82
7. Fredonia, New York
Population: 9,710
Average monthly mortgage: $1,141
Average monthly cost of living: $2,902
Livability score: 82
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6. New Ulm, Minnesota
Population: 14,055
Average monthly mortgage: $1,354
Average monthly cost of living: $2,929
Livability score: 82
5. Cuyahoga Falls, Ohio
Population: 50,916
Average monthly mortgage: $1,200
Average monthly cost of living: $2,954
Livability score: 82
4. Charleston, West Virginia
Population: 48,415
Average monthly mortgage: $919
Average monthly cost of living: $2,950
Livability score: 83
3. Panhandle, Texas
Population: 2,743
Average monthly mortgage: $1,103
Average monthly cost of living: $2,828
Livability score: 83
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2. Frostburg, Maryland
Population: 7,118
Average monthly mortgage: $1,011
Average monthly cost of living: $2,646
Livability score: 84
1. Nutter Fort, West Virginia
Population: 1,700
Average monthly mortgage: $762
Average monthly cost of living: $2,650
Livability score: 87
Heather Taylor contributed to the reporting for this article.
Disclaimer: Images are for representational purposes only and may feature the nearest city instead of the town mentioned.
Methodology: For this study, GOBankingRates analyzed cities across the United States to find the best places to retire for $3,000 or less a month. GBR sourced each city’s number of households, top population, population aged 65 and over, and median household income from the U.S. Census American Community Survey. Cost-of-living indexes were sourced from Sperlings BestPlaces. Average home value as of April 2024 were sourced from the Zillow Home Value Index, and the livability index was sourced from AreaVibes. The average mortgage cost was calculated by using the average home value and the national 30-year fixed mortgage rate as sourced from the Federal Reserve Economic Data. Combining the average mortgage and the average expenditure cost provided the average total cost of living for each city. To qualify for this study, the total cost of living had to be $3,000 or below. The cities were then sorted by livability. The average Social Security benefit was sourced from the Social Security Administration’s Monthly Snapshot. Using the average Social Security benefit and the total cost of living, the total cost of living after Social Security benefits was calculated. All data was collected on and is up to date as of May 3, 2024.
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This article originally appeared on GOBankingRates.com: 100 Best Cities To Retire on $3,000 or Less Per Month
