If you’re a retiree living on a fixed income, steady cost-of-living increases can significantly impact your financial health and sense of freedom.
If you live in a fairly pricey retirement hotspot, like Miami or Phoenix, you’re probably well aware that there are much cheaper cities in the U.S. to hang your hat throughout your golden years. But do these cheaper cities offer you that sprawling community of fellow retirees who also know how to stick to a budget?
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In an exclusive new study, GOBankingRates analyzed cities across America to find cheap places to live with the largest retiree populations.
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12. Timber Pines, Florida
Total population: 4,790
Percentage of population ages 65 and older: 84.5%
Average single-family home value: $302,494
Total cost of living annually: $45,061
Livability: 67
11. Green Valley, Arizona
Total population: 21,581
Percentage of population ages 65 and older: 79.8%
Average single-family home value: $316,570
Total cost of living annually: $43,970
Livability: 58
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10. Weaverville, California
Total population: 3,198
Percentage of population ages 65 and older: 42.5%
Average single-family home value: $278,531
Total cost of living annually: $43,910
Livability: 55
9. Welton, Arizona
Total population: 2,470
Percentage of population ages 65 and older: 52.6%
Average single-family home value: $267,486
Total cost of living annually: $43,801
Livability: 68
8. Wildwood, Florida
Total population: 16,739
Population ages 65 and older: 42.6%
Average single-family home value: $296,813
Total cost of living annually: $43,188
Livability: 69
7. Hot Springs Village, Arkansas
Total population: 16,509
Percentage of population ages 65 and older: 59.9%
Average single-family home value: $298,405
Total cost of living annually: $43,025
Livability: 66
6. Crystal River, Florida
Total population: 3,443
Percentage of population ages 65 and older: 46.1%
Average single-family home value: $284,381
Total cost of living annually: $42,388
Livability: 66
5. Golden Valley, Arizona
Total population: 7,999
Population ages 65 and older: 42.2%
Average single-family home value: $241,580
Total cost of living annually: $41,546
Livability: 56
4. Micco, Florida
Total population: 9,053
Percentage of population ages 65 and older: 56.9%
Average single-family home value: $233,770
Total cost of living annually: $38,919
Livability: 65
3. Quartzsite, Arizona
Total population: 1,805
Percentage of population ages 65 and older: 64.4%
Average single-family home value: $202,460
Total cost of living annually: $38,102
Livability: 62
2. The Plains, Ohio
Total population: 2,584
Percentage of population ages 65 and older: 41.4%
Average single-family home value: $167,390
Total cost of living annually: $32,725
Livability: 74
1. Fairfield Bay, Arkansas
Total population: 2,247
Percentage of population ages 65 and older: 60.7%
Average single-family home value: $146,591
Total cost of living annually: $30,784
Livability: 61
Methodology: For this study, GOBankingRates analyzed cities with a large retirement population to find cheap places to live. Using data from the US Census American Community Survey, the cities with at least 1,000 households were identified. Cities with at least 40% of the population aged 65 and over were selected for this study, representing only cities with a large retiree population. Along with the population ages 65 and over, the total population, total households, and household median income were also sourced from the US Census American Community Survey. The cost-of-living indices were sourced from Sperlings BestPlaces and include the grocery, healthcare, housing, utilities, transportation and miscellaneous cost-of-living indices. Using the cost-of-living indexes and the average expenditure costs for retirees, as sourced from the Bureau of Labor Statistics’ Consumer Expenditure Survey for households with residents aged 65 and above, the average expenditure cost can be calculated. The average single-family home value was sourced from Zillow Home Value Index. 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 can be calculated. Using the average mortgage and expenditure cost, the total cost of living can be calculated. The cities were sorted to show the cheapest places to live with a large retiree population. All data was collected on and is up to date as of May 29th, 2025.
Nicole Spector contributed to the reporting for this article.
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This article originally appeared on GOBankingRates.com: 12 Cheap Places To Live With a Large Retiree Population
