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Retirees looking to spend their golden years on the East Coast have no shortage of choices when it comes to urban centers, climate, geography, lifestyle and price. Many prefer the warmth and sunshine of Florida to the blustery, cold winters of the Northeast, although a growing number of retirees are settling in mid-Atlantic states like Maryland, Virginia and North Carolina.
If affordability is a top priority, then you should avoid retiring in big East Coast cities like New York, Boston, Atlanta, Miami, and Washington, DC. the most affordable and beautiful places to retire on the East Coast.
The analysis took into account three main factors – the average price of a one-bedroom apartment, the livability score and the average monthly expenses. In order for a country to qualify, at least 10% of its population had to be over the age of 65 and had to have a livability score of 75 or higher.
The three places that made the list were Palm Bay, Florida; Lakeland, Florida; and Chester, Virginia. But if those places aren’t on your retirement wish list, here are five other East Coast cities that are just as cheap:
5. Winter Garden, Florida
- 2022 1 bedroom rental: $1,115.83
- Vitality score: 85
- Total monthly expenses: 1965.54 dollars
Winter Garden has the second highest livability score on the list, although you pay a bit more in monthly groceries and health care here than other cities.
4. Panama City Beach, Florida
- 2022 1 bedroom rental: $1106.71
- Vitality score: 76
- Total monthly expenses: $1,946.91
In Panama City Beach, you’ll be too busy enjoying the weather to remember that your monthly groceries are more expensive than other cities on this list. However, you’ll pay an average of less than $840 a month for groceries and health care.
3. Concord, North Carolina
- 2022 1 bedroom rental: $1045.57
- Vitality score: 83
- Total monthly expenses: $1,881.47
Concord, located a short drive from Charlotte, has a high livability score of 83. You’ll pay $421.72 per month on average for groceries and $418.47 per month for health care.
2. Mauldin, South Carolina
- 2022 1 bedroom rental: $944.71
- Vitality score: 88
- Total monthly expenses: $1789.89
Although Mauldin comes in at no. 2 overall, it has the highest livability score on the list. Nearly a fifth (19%) of the population here is 65 or older.
1. Roanoke, Virginia
- 2022 1 bedroom rental: $919.71
- Vitality score: 75
- Total monthly expenses: $1,783.32
Roanoke earns the top spot with a good livability score and a large senior population. You can live comfortably here on a typical retirement budget, with total monthly expenses falling below $2,000.
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