7 Cheapest Places to Retire in the U.S.

When you’re set to retire, it’s no surprise that you’d like to settle in a place that has a low cost of living. Why not take advantage of your new retiree status by making your dollar go further?

While there are a number of factors that will affect your choice, below is a list of 7 cheapest places to retire that you may want to consider based on cost of living alone. The cost of living points system featured in this article is thanks to Sperling’s Best Places.

Cheapest Places to Retire: Tulsa, Oklahoma

Cost of Living: 15 points below average

With a median home price of $94,000, Tulsa offers small town prices with a big city feel.

In Tulsa, entertainment is never too hard to find and there are even many free and low-cost options, especially for the 65 and over crowd. And, if the warmer climate is for you, Tulsa offers relatively mild winters and hot, long summers.

Cheapest Places to Retire: Sherman, Texas

Cost of Living: 22 points below average

Sherman is a small city (pop. ~38,000), which is wonderful if you’re looking for a slow-paced lifestyle. Housing costs are an incredible 53 points below the national housing cost average, making Sherman a great place to buy a new home.

While there may not be much in the way of local attractions, Sherman is only an hour’s drive from Dallas, which means you get to enjoy the best of both small city and big city life.

Cheapest Places to Retire: Decatur, Alabama

Cost of Living: 10 points below average

If you’re looking to get away from the hustle and bustle of the city, Decatur may just be the town for you.

Besides its low cost of living, Decatur boasts a low crime rate and offers you all of the water recreation you can handle thanks to it location along the banks of the Tennessee River. Decatur’s location is also great, as it’s less than 90 miles from Alabama’s largest city, Birmingham.

Cheapest Places to Retire: Omaha, Nebraska

Cost of Living: 12 points below average

If you’re thinking of moving, you’ll quickly come to love Omaha and all that the city has to offer.

With a thriving downtown and easy access to public transportation, Omaha is a great place to enjoy your golden years. Omaha experiences the beauty of all four seasons, and the variety in downtown attractions is a bonus for those who love nights out on the town.

Cheapest Places to Retire: Indianapolis, Indiana

Cost of Living: 11 points below average

If you love big city living, then Indianapolis, a city with more than 800,000 residents, offers all that there is to love — attractions for people of all ages, as well as abundant opportunities for sports, recreation, and leisure.

And, if you think big city means big cost, remember that larger cities have a lot more variety when it comes to finding affordable groceries, healthcare, and other necessities. Big cities like Indianapolis also allow you to save on transportation costs, especially since many areas offer discounts available only to seniors.

Cheapest Places to Retire: Pittsburgh, Pennsylvania

Cost of Living: 16 points below average

This bustling city of more than 300,000 residents is sure to please any retiree. There’s plenty to do in Pittsburgh — from visiting the Carnegie Museum of Natural History to taking the famous downtown brews tour.

Pittsburgh is also home to University of Pittsburgh Medical Center — this location is great for seniors with health concerns, or for those who just like the convenience of having numerous health care centers nearby.

Cheapest Places to Retire: Tampa, Florida

Cost of Living: 10 points below average

Tampa is probably not the first area in Florida that you think of when thinking of retirement, but with a cost of living that’s 10 points below the national average, you can’t overlook this southern gem.

Enjoy long walks on the beach or spend time perfecting your golf swing. You can do these and so much more year round in this resort-like location.

If you’re a retiree looking to move to a new city, remember that affordable doesn’t have to mean sacrifice. There are many great cities, including the 7 mentioned above, that can offer you affordability, comfort, and fun.