Where to retire in the US to save $ 10 thousands per year - ForumDaily
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Where to retire in the US to save $ 10 thousand per year

If you're used to city life, you may be able to stay in the city after you retire. But if you plan to save money, consider moving to localities with lower living costs. There are several large cities in the United States where retirement living is significantly cheaper than the national average.

Фото: Depositphotos

GOBankingRates analyzed the largest urban cities in the USA by 200 and found those where retirees can save 10 thousands of dollars or even more per year, with an average subsistence minimum for a retired person of 49 542 US dollars. Six of them were the most affordable and comfortable.

1. Akron, Ohio

  • Cost of living per year - $36,166
  • Difference from the national average - $13,376

2. Brownsville, TX

  • Cost of living per year - $37,157
  • Difference from the national average - $12,386

3. Dayton Ohio

  • Cost of living per year - $37,157
  • Difference from the national average - $12,386

4. Cleveland Ohio

  • Cost of living per year - $38,147
  • Difference from the national average - $11,395

5. Toledo Ohio

  • Cost of living per year - $38,395
  • Difference from the national average - $11,147

6. Rockford, IL

  • Cost of living per year - $39,435
  • Difference from the national average - $10,107

Ohio is the most affordable state for retirees who want to live in a city

Of the six US cities where retirees can save money compared to the national average, four are located in Ohio: Akron, Dayton, Cleveland and Toledo. Overall, this is one of the most accessible retirement states, although you still need to save about 1,1 million dollars to retire in this state, according to a separate study, GOBankingRates.

How housing costs affect overall site availability

The average rent in all six cities is less than $1000 per month, and in Akron, Dayton and Toledo it is less than $800. The cheapest place to rent in Dayton is just $734, and the cost of a home is $52400. Toledo also has affordable housing, costing 69% less than the national average.

Brownsville has the highest median home price on the list—$90—but also has the lowest food and utility costs among the cities included in the ranking, which helps keep overall costs down. According to the study, it is one of the best places to live on retirement income alone.

The cost of products and utilities is high everywhere

The overall cost of living in these six cities is significantly lower than the national average, but this does not apply to groceries and utilities. The average annual food expense in the U.S. for people age 65 and older is $3, with Brownsville, which has the lowest average food expense on this list, at $815. The difference is small. The average annual utility cost in the United States for people age 3 and older is $357, compared to $65 in Brownsville.

Where you can save on healthcare

Average annual health care costs in the United States for people age 65 and older are $6; in Cleveland it was $620 and in Akron it was $5428. Affordable healthcare makes Akron one of the best cities to retire to on a $5/month budget.

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