Retirement places cater to different preferences. People love Florida for its beaches and warm climate. But it comes with a hefty price tag. So, let’s look at other cheap retirement options in the US region.
South Carolina
It is a popular retirement destination with a mild climate and stunning beaches. Sunny summers and mild winters make it an ideal place for active retirees. The cost of living is affordable in South Carolina, too. Plus, you can get a retirement income deduction of up to $15,000 if you are over the age of 65.
Georgia
If you are looking for one of the tax-exempt places, retirement homes in Georgia can be a good option. The cost of living is lower than the national average. This is an attractive destination for fixed-income retirees. Besides, the place has access to medical care.
Alabama
A mild climate and a chance for diverse cultural experiences make it a great choice. The cost of living is low, too. It has the lowest property tax in the region, which helps retirees to own a home. However, there are limited healthcare options. The sales tax is the fifth highest in the US.
Texas
The State of Texas Retirement program is a benefit retirement plan for retirees. Here, retirees can get affordable housing options in Texas. Potential retirees get lifetime annuities. Texas is also a low-tax state with no state income, estate tax, or inheritance tax for retirees. Retirees are also eligible for healthcare benefits in Texas.
Arizona
Arizona is an ideal retirement destination, having mild temperature and plenty of sunshine. You can go for lots of outdoor activities, especially in the winter. Yet, the scorching summers can be a bit of a drawback. Arizona has the lowest flat income tax of 2.5%. It is 12th on the list of lowest property taxes.
Mississippi
Retirees enjoy the charming weather in Mississippi. A slow pace of life and a sense of community is an add-on. The state has opportunities for different outdoor activities. Magnolia State in Mississippi is an inexpensive option. But, the state ranks last in every leading health outcome.
Louisiana
Louisiana is in the southern region of the US. This is a popular retirement option other than Florida. A relaxed and vibrant environment makes it a great choice. This is a non-taxed state for retirees. Louisiana has the third lowest property tax in the US.
Tennessee
Tennessee is a place for natural beauty and several options for outdoor activities. It can be an excellent place for retirement. Groceries, utilities, and transportation are affordable as compared to Florida. The low cost of living and non-taxed benefits offer attractive retirement home options.
Arkansas
Arkansas has a mild climate, serene landscapes, and affordable cost of living. Recreational activities are abundant. Healthcare facilities are excellent in the state. Arkansas retirees enjoy lower taxe, especially on income and property, the taxes are lower.
New Mexico
New Mexico is a popular retirement destination other than Florida. Its warm climate, rich cultural heritage, and amenities offer a welcoming environment. Plus, the low cost of living makes it an affordable option. Santa Fe in New Mexico is a popular destination for retirees. Hiking and skiing are popular in the region.
Delaware
You get a peaceful and relaxed environment in Delaware. The slow pace of life attracts potential retirees to the Diamond State. The retirement taxes are low in the region. The beautiful Atlantic Ocean Coastline offers different tax benefits. You pay no tax on social security income and low-value property.
Missouri
Missouri is located in the midwest US region. It is a popular retirement destination for most Americans. An affordable and relaxed environment offers access to different outdoor activities. The cost of living in Missouri is lower than the national average, especially for retirees with a fixed income. The state’s housing and healthcare costs are lower.
Oklahoma
Like Florida, this state has a long coastline, so you can enjoy outdoor activities like fishing, boating, and hiking. The region has a more continental climate than Florida, but you save significantly on the cost of living. Some of the best locations include Oklahoma City, Tulsa, Broken Arrow, and Lawton.
Virginia
If the tourism aspect of Florida attracts you, consider Virginia as an alternative. The state has its unique Southern charm and a variety of historical and cultural attractions. The cost of living in Virginia is lower than Florida’s, particularly in terms of housing and taxes. You can explore Virginia Beach, Norfolk, Richmond, and Roanoke.
North Carolina
Warm weather, beautiful beaches, diverse ecosystems, and a relaxed lifestyle, you get all this and more in this state at a much cheaper price compared to Florida. It has a retirement-friendly tax structure with the best medical care in the world. Plus, the housing is significantly inexpensive. The state ranks high on the list of potential new retirement homes for boomers.
Maryland
Maryland offers beautiful beaches, perfect for outdoor activities like swimming, surfing, and fishing. Like Florida, Maryland offers diverse cultural experiences, with vibrant cities like Baltimore and Annapolis alongside charming historic towns. However, the cost of living is generally lower in Maryland, especially in less populated areas.
Kentucky
Kentucky offers some advantages, including a low cost of living and access to different outdoor activities. It also has a rich cultural heritage and southern hospitality. However, you need to consider other factors, such as limited healthcare options, extreme weather conditions, and limited transportation options. Kentucky ranks lower in the rankings of places to retire.