Cheapest states are being looked into by a huge number of retirees due to the current unstable economic climate, many seniors are opting for cheaper retirement options than the luxurious custom-built retirement communities that were once so popular.
To make their savings go further, retirees should consider the cheap states in the US in order to lower their living costs. When determining the affordable states to live in, it is not only house prices and rental rates that are compared.
Other important factors are taxes, utility bills and living expenses such as groceries and gas, which can vary in price from state to state more than you might think.
Low Cost States on Real Estate Purchase or Renting
In general, the inexpensive states to live in, whether you are a college student, a young family or a retired couple, are the Midwest and Southern states, such as Oklahoma, Texas, Tennessee and Arkansas.
Oklahoma offers many inexpensive cities that also offer a great quality of life. Either Oklahoma City or Tulsa could be considered as one of the cheapest city in Oklahoma; they both have high pay rates and low costs of living.
If you are renting in Oklahoma City, expect to pay under $500 per month for a 900 square foot home. You could rent a new 600 square foot apartment in Tulsa for the same amount, which may include your utilities.
If you are looking to buy a home, a 220 square foot home in Oklahoma will cost around $130,000.
Compare this to average sale prices on comparable properties in Dallas ($180,000); Atlanta ($240,000) and Portland ($250,000) and you can see what a bargain you can snap up.
Apart from the cheap housing, Oklahoma offers retirees international airports making going on vacation and visiting family easy, plenty of social activities and the security of living in some of the safest places in the US.
Another cheap retirement option is Fort Smith, Arkansas; the average house price is $87,000.
Other perks for potential retirees are lower cost of goods, a pleasant, welcoming community, excellent medical services and senior support programs.
Texas states that appeal to retirees are Brownsville, Harlingin and Forth Worth. In the Benbrook suburb of Fort Worth, the average house price is around $145,000; a fantastic price for an area that boasts of endless recreational opportunities, beautiful scenery and no income tax.
For the more adventurous retiree, moving abroad is an exciting option and one that may save even more money. Three of the most popular retirement destinations are Mexico, Thailand and Costa Rica, and for good reason.
Mexico is a cheap state and a perfect choice as it is still close to the US but offers a very cheap lifestyle compared to the US and Canada. An annual retirement income of $29,000 (the average of a typical American retiree) will go a very long way in Mexico, with housing costs close to $500 per month, groceries around $300 per month and utility bills around $200 per month.
If you want to go further afield, Thailand offers the best of all the Asian countries. Comfortable retirement living there will cost around $17,000 per year, and this could be far lower depending on which part of Thailand you retire to. Food, housing and recreational activities are all far cheaper than in the US.
For a tropical paradise go for Costa Rica and enjoy the benefits of saving a huge amount of money.
Utilities are very cheap and good quality housing can be found whether to buy or to rent.
Even if you want to build your own home, you can expect to buy the land and pay for the construction for less than $30,000.
You would then own your own home outright and not have to worry about monthly rent or mortgage payments, something you are unlikely to be able to do in any part of the US — even the cheapest states.
Click here to Return from Cheapest States to Cheapest Places to Retire
The reasons why you should retire to Missouri are many. Missouri is a small southern state that has much to offer to any retiree. While it is not one of the most popular states to retire to, thousands of retirees have come to Missouri and are convinced that it is the best possible spot to […]
The cheapest places to live in Florida for retirees will be based on the activities they enjoy the most and how much they plan to spend monthly on those activities. Finding affordable housing is not hard to accomplish but will require strategic planning. The price of everyday living expenses in the Sunshine State will vary […]
The cheapest places to live in California are usually the most popular places in this state, and there are lots of understandable reasons for this. In California, the weather is beautiful, the scenery is to die for, and of course there are all those super hot celebrities you wish you could run into. All of […]
For cheap states, although one person’s idea of what makes somewhere cheap will differ from another person’s, there are certain basic factors everybody must consider when working out the cost of living in a particular town, city or state. In 2009, Oklahoma was ranked with the lowest cost of living by the Missouri Economic Research […]
You can retire in Missouri relatively easily when you already know what you want out of your retirement. There are many reasons why retirees choose Missouri including planned retirement communities and plenty of activities. The humid-continental climate includes hot and humid summers and the mild winters typical of a southern climate. The costs of homes […]
Retiring on the cheap in Seattle, which is one of the most livable cities in the country, may seem nearly impossible, given the city’s high cost of living. However, many retirees have succeeded in living comfortably in Seattle, and others can do the same. Seattle offers affordable housing, a rich culture, and is home to […]
Cheapest states to retire in were selected through a criteria in which retirees can avail and enjoy most. The world is filled with baby boomers retiring at a rapid rate. More communities are being filled with people not rushing out the door each day to go to work and communities need different amenities to be […]
Finding the cheapest place to retire in USA is when everyone dreams of the perfect retirement community and envisions activities, beauty, and tranquility where nothing bad ever happens. Working hard for decades and saving instead of living extravagantly, brings to mind the need to extend the retirement savings by leaving the hustle and bustle of […]
What is the best place to retire in America? Well, that is a broad question. And quite frankly, it depends on everyone’s personal interests. But for the sake of argument, we will assume you are looking for a place that is not extravagantly price, has decent weather, and offers different types of entertainment. Arizona and […]
Research the cheapest places to retire in the United States if you are approaching your Golden Years to find the best location to settle to and live comfortably. Because your retirement is a period in your life that you should enjoy, it is important to research every possible factor to ensure you are making the […]
Cheap retirement areas should not just be chosen solely because of the ability to live there inexpensively there are other factors that need to be taken into consideration before deciding on an area where you will be living permanently in your older years. A cheap retirement area should offer features and amenities that suit your […]
Cheap places to retire in the United States are few and far to come by. However, careful scrutiny and a watch on the local conditions might prove beneficial when the time to take a decision comes. Most of these places are listed based on prevalent economy in local area, access to medical help, reasonable cost […]
Looking for the best place to retire in the US can seem like a challenge because there are so many great locations to choose from. When you are on a budget and need a place to relax though, no other place seems to compare to Durham, North Carolina. Listed below are a few features of […]
What are the best towns to retire in? Not all seniors are desperate to flee from the United States and settle overseas. Many people want to stay in their home country after they retire, but may decide to move to another town. This may be for financial reasons, or simply for a change of scenery. […]