26 Best Georgia Cities To Retire on $2,600 a Month
There’s good news for retirees with a monthly budget of $2,600. The state of Georgia offers plenty of cities where you can enjoy a comfortable retirement on a fixed income.
To determine which Georgia cities are the best to retire on $2,600 or less a month, GOBankingRates used the U.S. Census American Community Survey to find each city’s total population, population aged 65 and over, median household income and total households. Additional factors cited include cost-of-living indexes, the average single-family home value, average mortgage cost, average expenditure costs and livability index. The total monthly cost of living was calculated for each city along with the total cost of living after Social Security benefits. Each city also received a rank within the data from No. 1 to 218. For the purposes of this article, we are only including cities that rank between No. 1 to 50 and have a total monthly cost of living at $2,600 and under.
In order from highest monthly total cost of living to lowest, retirees with a $2,600 monthly budget may consider retiring in these 26 Georgia cities.
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Roberta
Livability: 64
Population total: 1,462
Number of population aged 65+: 273
Percentage of population aged 65+: 18.7%
Total households: 464
Median household income: $41,500
Average home value (April 2024): $127,041
Average monthly mortgage cost: $763
Average monthly expenditure cost: $1,833
Total monthly cost of living: $2,596
Total monthly cost of living after Social Security benefits: $731
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Colquitt
Livability: 68
Population total: 2,131
Number of population aged 65+: 426
Percentage of population aged 65+: 20.0%
Total households: 895
Median household income: $26,125
Average home value (April 2024): $136,552
Average monthly mortgage cost: $820
Average monthly expenditure cost: $1,758
Total monthly cost of living: $2,578
Total monthly cost of living after Social Security benefits: $713
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Poulan
Livability: 68
Population total: 768
Number of population aged 65+: 186
Percentage of population aged 65+: 24.2%
Total households: 294
Median household income: $63,182
Average home value (April 2024): $121,680
Average monthly mortgage cost: $731
Average monthly expenditure cost: $1,831
Total monthly cost of living: $2,562
Total monthly cost of living after Social Security benefits: $697
Albany
Livability: 64
Population total: 68,926
Number of population aged 65+: 10,682
Percentage of population aged 65+: 15.5%
Total households: 27,709
Median household income: $43,724
Average home value (April 2024): $127,270
Average monthly mortgage cost: $764
Average monthly expenditure cost: $1,796
Total monthly cost of living: $2,560
Total monthly cost of living after Social Security benefits: $696
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Reynolds
Livability: 70
Population total: 793
Number of population aged 65+: 236
Percentage of population aged 65+: 29.8%
Total households: 394
Median household income: $30,333
Average home value (April 2024): $126,764
Average monthly mortgage cost: $761
Average monthly expenditure cost: $1,795
Total monthly cost of living: $2,557
Total monthly cost of living after Social Security benefits: $692
Enigma
Livability: 65
Population total: 1,251
Number of population aged 65+: 185
Percentage of population aged 65+: 14.8%
Total households: 462
Median household income: n/a
Average home value (April 2024): $131,472
Average monthly mortgage cost: $790
Average monthly expenditure cost: $1,766
Total monthly cost of living: $2,555
Total monthly cost of living after Social Security benefits: $691
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Donalsonville
Livability: 65
Population total: 2,824
Number of population aged 65+: 548
Percentage of population aged 65+: 19.4%
Total households: 1,040
Median household income: $37,433
Average home value (April 2024): $128,711
Average monthly mortgage cost: $773
Average monthly expenditure cost: $1,758
Total monthly cost of living: $2,531
Total monthly cost of living after Social Security benefits: $666
Hazlehurst
Livability: 66
Population total: 4,075
Number of population aged 65+: 466
Percentage of population aged 65+: 11.4%
Total households: 1,478
Median household income: $35,208
Average home value (April 2024): $128,028
Average monthly mortgage cost: $769
Average monthly expenditure cost: $1,739
Total monthly cost of living: $2,508
Total monthly cost of living after Social Security benefits: $644
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Moultrie
Livability: 62
Population total: 14,533
Number of population aged 65+: 2,507
Percentage of population aged 65+: 17.3%
Total households: 5,745
Median household income: $41,228
Average home value (April 2024): $134,030
Average monthly mortgage cost: $805
Average monthly expenditure cost: $1,702
Total monthly cost of living: $2,507
Total monthly cost of living after Social Security benefits: $643
Sylvania
Livability: 61
Population total: 2,618
Number of population aged 65+: 668
Percentage of population aged 65+: 25.5%
Total households: 957
Median household income: $36,682
Average home value (April 2024): $128,027
Average monthly mortgage cost: $769
Average monthly expenditure cost: $1,731
Total monthly cost of living: $2,500
Total monthly cost of living after Social Security benefits: $636
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Elberton
Livability: 60
Population total: 4,627
Number of population aged 65+: 820
Percentage of population aged 65+: 17.7%
Total households: 1,838
Median household income: $38,562
Average home value (April 2024): $132,847
Average monthly mortgage cost: $798
Average monthly expenditure cost: $1,700
Total monthly cost of living: $2,498
Total monthly cost of living after Social Security benefits: $633
Sparks
Livability: 65
Population total: 2,459
Number of population aged 65+: 163
Percentage of population aged 65+: 6.6%
Total households: 613
Median household income: $37,226
Average home value (April 2024): $119,071
Average monthly mortgage cost: $715
Average monthly expenditure cost: $1,760
Total monthly cost of living: $2,476
Total monthly cost of living after Social Security benefits: $611
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Sandersville
Livability: 71
Population total: 5,727
Number of population aged 65+: 971
Percentage of population aged 65+: 17.0%
Total households: 2,083
Median household income: $45,502
Average home value (April 2024): $130,426
Average monthly mortgage cost: $783
Average monthly expenditure cost: $1,679
Total monthly cost of living: $2,462
Total monthly cost of living after Social Security benefits: $597
Omega
Livability: 63
Population total: 1,302
Number of population aged 65+: 113
Percentage of population aged 65+: 8.7%
Total households: 418
Median household income: $43,269
Average home value (April 2024): $123,615
Average monthly mortgage cost: $742
Average monthly expenditure cost: $1,710
Total monthly cost of living: $2,453
Total monthly cost of living after Social Security benefits: $588
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Soperton
Livability: 63
Population total: 2,905
Number of population aged 65+: 528
Percentage of population aged 65+: 18.2%
Total households: 1,068
Median household income: $28,607
Average home value (April 2024): $107,718
Average monthly mortgage cost: $647
Average monthly expenditure cost: $1,801
Total monthly cost of living: $2,448
Total monthly cost of living after Social Security benefits: $583
Ocilla
Livability: 63
Population total: 3,338
Number of population aged 65+: 555
Percentage of population aged 65+: 16.6%
Total households: 1,216
Median household income: $33,208
Average home value (April 2024): $115,351
Average monthly mortgage cost: $693
Average monthly expenditure cost: $1,751
Total monthly cost of living: $2,443
Total monthly cost of living after Social Security benefits: $579
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Homerville
Livability: 60
Population total: 2,049
Number of population aged 65+: 538
Percentage of population aged 65+: 26.3%
Total households: 746
Median household income: $29,815
Average home value (April 2024): $120,093
Average monthly mortgage cost: $721
Average monthly expenditure cost: $1,716
Total monthly cost of living: $2,438
Total monthly cost of living after Social Security benefits: $573
Rochelle
Livability: 61
Population total: 992
Number of population aged 65+: 279
Percentage of population aged 65+: 28.1%
Total households: 429
Median household income: $27,404
Average home value (April 2024): $108,921
Average monthly mortgage cost: $654
Average monthly expenditure cost: $1,769
Total monthly cost of living: $2,424
Total monthly cost of living after Social Security benefits: $559
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Jeffersonville
Livability: 67
Population total: 968
Number of population aged 65+: 225
Percentage of population aged 65+: 23.2%
Total households: 294
Median household income: $40,500
Average home value (April 2024): $92,276
Average monthly mortgage cost: $554
Average monthly expenditure cost: $1,869
Total monthly cost of living: $2,423
Total monthly cost of living after Social Security benefits: $559
Ashburn
Livability: 65
Population total: 4,223
Number of population aged 65+: 850
Percentage of population aged 65+: 20.1%
Total households: 1,589
Median household income: $35,987
Average home value (April 2024): $113,708
Average monthly mortgage cost: $683
Average monthly expenditure cost: $1,734
Total monthly cost of living: $2,417
Total monthly cost of living after Social Security benefits: $553
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Plains
Livability: 67
Population total: 781
Number of population aged 65+: 162
Percentage of population aged 65+: 20.7%
Total households: 235
Median household income: $36,138
Average home value (April 2024): $109,219
Average monthly mortgage cost: $656
Average monthly expenditure cost: $1,759
Total monthly cost of living: $2,415
Total monthly cost of living after Social Security benefits: $550
Pearson
Livability: 61
Population total: 1,826
Number of population aged 65+: 191
Percentage of population aged 65+: 10.5%
Total households: 714
Median household income: $30,455
Average home value (April 2024): $112,722
Average monthly mortgage cost: $677
Average monthly expenditure cost: $1,732
Total monthly cost of living: $2,409
Total monthly cost of living after Social Security benefits: $544
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Edison
Livability: 62
Population total: 1,229
Number of population aged 65+: 290
Percentage of population aged 65+: 23.6%
Total households: 392
Median household income: $36,250
Average home value (April 2024): $94,376
Average monthly mortgage cost: $567
Average monthly expenditure cost: $1,776
Total monthly cost of living: $2,343
Total monthly cost of living after Social Security benefits: $478
Montezuma
Livability: 66
Population total: 3,040
Number of population aged 65+: 536
Percentage of population aged 65+: 17.6%
Total households: 1,185
Median household income: $46,315
Average home value (April 2024): $91,677
Average monthly mortgage cost: $551
Average monthly expenditure cost: $1,783
Total monthly cost of living: $2,333
Total monthly cost of living after Social Security benefits: $469
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Arlington
Livability: 63
Population total: 1,141
Number of population aged 65+: 173
Percentage of population aged 65+: 15.2%
Total households: 465
Median household income: $43,750
Average home value (April 2024): $85,015
Average monthly mortgage cost: $511
Average monthly expenditure cost: $1,770
Total monthly cost of living: $2,280
Total monthly cost of living after Social Security benefits: $416
Lumber City
Livability: 66
Population total: 1,127
Number of population aged 65+: 250
Percentage of population aged 65+: 22.2%
Total households: 290
Median household income: $31,429
Average home value (April 2024): $92,571
Average monthly mortgage cost: $556
Average monthly expenditure cost: $1,722
Total monthly cost of living: $2,278
Total monthly cost of living after Social Security benefits: $413
Methodology: For this study, GOBankingRates analyzed cities across Georgia to find the best places to retire on less than $2,600 a month. First GOBankingRates found cities in Georgia by using the U.S. Census American Community Survey along with the total population, population aged 65 and over, median household income, and total households. For each city a number of factors were found including; cost-of-living indexes as sourced from Sperling’s BestPlaces, average single family home value as sourced from the Zillow Home Value Index for April 2024, and livability index as sourced from AreaVibes. By assuming a 10% down payment and using the national 30-year fixed mortgage rate as sourced from the Federal Reserve Economic Data, the average mortgage cost can be calculated. Using the national average expenditure costs for retired residents, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure costs for each city can be calculated. Using the expenditure costs and the mortgage cost the total monthly cost of living can be calculated for each city. Using the average Social Security Benefits for retired residents aged 65 and higher, as sourced from the Social Security Administration, the total cost of living after Social Security benefits can be calculated. All cities over $2,600 were removed for this study. The livability index was scored and weighted at 1.75, the expenditure cost was scored and weighted at 1.00, and the mortgage cost was scored and weighted at 1.00. All the scores were summed and sorted to show the best places to retire on less than $2,600 a month. All data was collected on and is up to date as of May 31, 2024.
Photo disclaimer: Photos are for illustrative purposes only. In many cases, the closest major city outside of the city/county mentioned in the article was used.
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This article originally appeared on GOBankingRates.com: 26 Best Georgia Cities To Retire on $2,600 a Month