22 Cheap, Beautiful Places To Retire

·4 min read
NaughtyNut / Shutterstock.com
NaughtyNut / Shutterstock.com

If you're like most people facing retirement, you don't have an unlimited budget. Even so, that doesn't mean that you have to settle for living out what are supposed to be your golden years in a less-than-desirable locale just to make ends meet.

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Retirement should be about enjoying your life with minimal stress and spending some time in the sun. To do that on a budget, though, you'll need to choose a retirement destination that's not only affordable but also features a hospitable climate. To assist you in your relocation plans, GOBankingRates looked at hundreds of U.S. cities to find the cheapest places to retire that feature favorable weather.

More often than not, retirees will find the most affordable and sunniest retirement destinations in the southernmost state of the continental U.S. -- Florida. In fact, more than half of 22 U.S. cities on this list are located in Florida.

While the warm weather down south means almost all of the potential retirement spots are in the southern tier, two northern cities make the list because of just they have to offer. And if locations in Florida or up north don't appeal, there's a handful of other affordable cities to choose from.

Read More: 50 Best (and Worst) Cities for an Early Retirement

To rank in the study, each city had to meet the following requirements: More than 25% of the population had to be age 65 or older, the median home listing price must have ranked below the national average and the average annual temperature needed to fall in the moderate range. Check out these beautiful places to retire that won't stretch your bank account.

Read: Best Cities To Retire on a Budget of $1,500 a Month

Kenneth Sponsler / Shutterstock.com
Kenneth Sponsler / Shutterstock.com

Centerville, Ohio

  • Median home value: $289,988

  • Average temperature (Fahrenheit): 52.7

  • Total population: 23,796

  • Percentage of population 65 and older: 28.1%

Read: Best Cities To Retire on a Budget of $1,500 a Month

KenWiedemann / Getty Images
KenWiedemann / Getty Images

Leland, North Carolina

  • Median home value: $307,377

  • Average temperature (Fahrenheit): 62.6

  • Total population: 20,294

  • Percentage of population 65 and older: 25.8%

Take a Look: These Once-Hot Housing Markets Are Cooling Off

Courtesy of Redfin.com
Courtesy of Redfin.com

Kerrville, Texas

  • Median home value: $299,344

  • Average temperature (Fahrenheit): 64.6

  • Total population: 23,370

  • Percentage of population 65 and older: 28%

Discover: Most Affordable Places To Retire Near You

Ken Bosma / Wikimedia Commons
Ken Bosma / Wikimedia Commons

Green Valley, Arizona

  • Median home value: $281,629

  • Average temperature (Fahrenheit): 63

  • Total population: 20,902

  • Percentage of population 65 and older: 79.8%

BlazenImages / Getty Images/iStockphoto
BlazenImages / Getty Images/iStockphoto

Bella Vista, Arkansas

  • Median home value: $259,931

  • Average temperature (Fahrenheit): 59

  • Total population: 28,539

  • Percentage of population 65 and older: 32.5%

Milestone Management / Flickr.com
Milestone Management / Flickr.com

Sun City, Arizona

  • Median home value: $292,905

  • Average temperature (Fahrenheit): 69

  • Total population: 38,877

  • Percentage of population 65 and older: 75.8%

Read: How To Protect Your Retirement Savings During the Pandemic

Susanne Pommer / Shutterstock.com
Susanne Pommer / Shutterstock.com

Vero Beach, Florida

  • Median home value: $306,751

  • Average temperature (Fahrenheit): 73.2

  • Total population: 16,857

  • Percentage of population 65 and older: 28%

DougSchneiderPhoto / Getty Images/iStockphoto
DougSchneiderPhoto / Getty Images/iStockphoto

Hermitage, Pennsylvania

  • Median home value: $203,499

  • Average temperature (Fahrenheit): 51.3

  • Total population: 15,693

  • Percentage of population 65 and older: 26.8%

Shutterstock.com
Shutterstock.com

Tamarac, Florida

  • Median home value: $307,476

  • Average temperature (Fahrenheit): 75.3

  • Total population: 65,874

  • Percentage of population 65 and older: 25.6%

fotoVoyager / Getty Images/iStockphoto
fotoVoyager / Getty Images/iStockphoto

Sun City Center, Florida

  • Median home value: $293,010

  • Average temperature (Fahrenheit): 72.4

  • Total population: 24,286

  • Percentage of population 65 and older: 71.7%

Read: How Much It Cost To Retire in the Year You Were Born

Shutterstock.com
Shutterstock.com

Sebastian, Florida

  • Median home value: $293,415

  • Average temperature (Fahrenheit): 73

  • Total population: 25,107

  • Percentage of population 65 and older: 34.6%

Shutterstock.com
Shutterstock.com

North Fort Myers, Florida

  • Median home value: $282,533

  • Average temperature (Fahrenheit): 71

  • Total population: 42,770

  • Percentage of population 65 and older: 46.3%

Find Out: 27 Ugly Truths About Retirement

Newtonian / Shutterstock.com
Newtonian / Shutterstock.com

Bullhead City, Arizona

  • Median home value: $295,847

  • Average temperature (Fahrenheit): 74.7

  • Total population: 40,252

  • Percentage of population 65 and older: 29.4%

Shutterstock.com
Shutterstock.com

Lady Lake, Florida

  • Median home value: $268,723

  • Average temperature (Fahrenheit): 70.7

  • Total population: 15,426

  • Percentage of population 65 and older: 50.8%

jthomasweb / Shutterstock.com
jthomasweb / Shutterstock.com

Port Charlotte, Florida

  • Median home value: $278,730

  • Average temperature (Fahrenheit): 73.7

  • Total population: 62,327

  • Percentage of population 65 and older: 30.7%

Shutterstock.com
Shutterstock.com

Tavares, Florida

  • Median home value: $270,127

  • Average temperature (Fahrenheit): 72.1

  • Total population: 16,752

  • Percentage of population 65 and older: 33%

Chris Pruitt / Wikimedia Commons
Chris Pruitt / Wikimedia Commons

Foley, Alabama

  • Median home value: $238,093

  • Average temperature (Fahrenheit): 65.2

  • Total population: 18,533

  • Percentage of population 65 and older: 26.1%

benedek / Getty Images/iStockphoto
benedek / Getty Images/iStockphoto

New Port Richey, Florida

  • Median home value: $269,426

  • Average temperature (Fahrenheit): 72.6

  • Total population: 16,223

  • Percentage of population 65 and older: 28.3%

Stephen B Calvert Clariosophic / Wikimedia Commons
Stephen B Calvert Clariosophic / Wikimedia Commons

Edgewater, Florida

  • Median home value: $259,342

  • Average temperature (Fahrenheit): 71.3

  • Total population: 23,324

  • Percentage of population 65 and older: 27.7%

bauhaus1000 / Getty Images/iStockphoto
bauhaus1000 / Getty Images/iStockphoto

Aiken, South Carolina

  • Median home value: $217,469

  • Average temperature (Fahrenheit): 63.5

  • Total population: 30,671

  • Percentage of population 65 and older: 26%

Shutterstock.com
Shutterstock.com

Winter Haven, Florida

  • Median home value: $241,457

  • Average temperature (Fahrenheit): 73.2

  • Total population: 41,248

  • Percentage of population 65 and older: 25.3%

MG_Photos / Shutterstock.com
MG_Photos / Shutterstock.com

Zephyrhills, Florida

  • Median home value: $217,890

  • Average temperature (Fahrenheit): 72

  • Total population: 15,573

  • Percentage of population 65 and older: 33.6%

More From GOBankingRates

Cynthia Measom contributed to the reporting for this article.

Methodology: GOBankingRates determined the cheapest cities to retire by analyzing all U.S. cities with populations of more than 10,000 people, narrowing down the list of cities to only those with greater than 25% share of the population being 65 and older, sourced from the Census Bureau's 2019 American Community Survey. GOBankingRates narrowed the list down even further by making sure the September 2021 median home value of each city was below the national average. From this list of cities, the two main factors used were (1) median home listing price, sourced from Zillow's September 2021 index; and (2) average annual temperature, sourced from Weather Base. All data compiled on Nov. 9, 2021.

This article originally appeared on GOBankingRates.com: 22 Cheap, Beautiful Places To Retire

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