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11 US Cities Where You Can Retire on $1,000 Monthly Budget

When you retire, you’ll want to look for ways to keep your cost of living low, while still having a high standard of living. Luckily, there are many US cities where this is possible. GoBankingRates did a study on this and found numerous cities where you can live on $1,000 or less a month. This includes cities throughout the United States, from the Southwest to the Northeast. However, the one caveat is the study assumes that you own your home and have finished paying off your mortgage by the time you retire. If you’re ready to retire for less, here are eleven cities throughout the United States where you can easily retire on a $1,000 monthly budget.

1) El Paso, Texas

The Texan city of El Paso has a low cost of living while still offering plenty of amenities. According to GoBankingRates, you can live in El Paso on about $893.25 a month. Overall, the cost of living in this city is 13 percent less than the national average. AreaVibes gave El Paso a high Livability ranking of 79, and it gave the city’s amenities an A+ rating. Some of these amenities include the El Paso Playhouse, El Paso’s longest-running theater company. This playhouse puts on numerous high-quality plays each season. If you love being outdoors, El Paso also has many parks where you can hike or go for leisurely strolls. There are also many golf courses where you can practice your swing. When you’re living in El Paso, you’ll get plenty of bang for your buck.

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2) Fort Wayne, Indiana

If you want to retire in the Midwest, Fort Wayne is a good choice. You can live in this city on about $822.17 a month. Fort Wayne also has low average utility costs of $242.45, and the cost of living here is 16 percent less than the national average. While Fort Wayne can get chilly in winter, the summers are beautiful, with average highs in the low 80s. Fort Wayne has many amenities you can enjoy in all types of weather. This includes the lovely Foellinger-Freimann Botanical Conservatory, which has both outdoor gardens and an indoor conservatory that’s open year-round. Fort Wayne also has numerous theaters that put all types of shows, from plays to ballets. Plus, if you love classical music, you can go to a performance of the Fort Wayne orchestra at the Fort Wayne Philharmonic. The city of Fort Wayne has tons of amazing amenities available.

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3) Corpus Christi, Texas

If you’re hoping to retire somewhere that’s warm and by the water, Corpus Christi is a good choice. This Texas city is located on Corpus Christi Bay, just off the Gulf of Mexico. When you’re living here, you can spend your days on the beach at Padre Island National Seashore. This beach has gorgeous views of the Gulf of Mexico, and it’s perfect for anyone who wants to spend their retirement boating or fishing. You can also check out the South Texas Botanical Garden and Nature Center, home to tropical flowers and over 2,500 different orchids. When you’re living in Corpus Christi, you’ll get to enjoy sunny weather and beautiful beaches at affordable prices. You can live here on about $945.38 a month, and the cost of living here is 11 percent less than the national average.

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4) Boise, Idaho

The Northwestern city of Boise is a good spot for outdoor enthusiasts to retire. The city is surrounded by stunning mountains and canyons, many of which have hiking trails. Even if you’re not interested in hiking, Boise still has plenty to offer retirees. Boise has a Walkability score of 40, and one of the most walkable parts of the city is their downtown area. Here, you can enjoy local restaurants that serve cuisine from around the world. You can also check out the area’s many locally-owned shops. The city is also considered to be very safe, and NeighborhoodScout gave it a safety ranking of 30. Plus, eleven percent of Boise residents are 65 or older. With such a large community of older residents, it will be easy for you to meet other retirees.

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5) Montgomery, Alabama

The capital of Alabama is a good place to retire on a budget. In Montgomery, your total monthly expenditures should come in at about $878.92. Plus, monthly health costs and housing expenses are typically low. On the downside, Walk Score did give Montgomery a low walkability score of 25, which means you will need a car to get around. Still, Montgomery’s lovely weather and great amenities make this Southern city worth checking out. You can catch plays and musicals at the beautiful Montgomery Performing Arts Centre or the Cloverdale Playhouse. You can also enjoy the warm weather at the city’s numerous parks, gardens, and nature centers. Plus, you can get amazing views of the Alabama River on Montgomery’s Riverwalk. Montgomery’s laidback Southern charm makes this city perfect for every retiree.

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