Live well for less money.
Even a modest nest egg could produce a comfortable retirement in these affordable retirement spots.
Low housing costs coupled with the amenities retirees need make these cities great places to retire on an income of less than $40,000 per year.
Albuquerque, New Mexico
Retirees benefit from Albuquerque’s many amenities and low housing prices.
According to 2011 Census Bureau data, the median housing cost for people age 60 and older was $1,150 monthly for those with a mortgage, $358 for homeowners without a mortgage, and $657 for renters.
Augusta, Georgia
The host city of the Masters Tournament is best known for its golf courses.
Housing costs for residents age 60 and older are a median of just $626 for renters, $1,064 for homeowners with a mortgage, and $353 for seniors who have paid off their homes.
Columbia, South Carolina
South Carolina residents age 60 and older can qualify for free tuition to the University of South Carolina.
Monthly housing costs range from a median of $1,107 per month for homeowners age 60 and older with a mortgage, $350 monthly for those who have paid off their mortgage, and $712 monthly for renters.
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