10 Great Places To Retire On The East Coast
“Great places to retire on the east coast”
People planning to retire may question where they will be able to live on a fixed income at this stage of their lives when inflation increases and the cost of living continues to rise. It turns out there are quite a few best and great places to retire on the East Coast, many of them in the lovely sunny state of Florida, where the cost of living is cheaper than the national averages for significant expenses like monthly groceries, rent, and healthcare.
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How We Gathered Information About The Best Cities For Retirement On The East Coast
We used information from ApartmentList to determine the current average one-bedroom rent in order to identify the most picturesque and cost-effective locations on the East Coast to retire. For each of the chosen cities, we used Sperling’s Best to determine the cost of living index, and we utilized the Bureau of Labor Statistics’ 2020 Consumer Expenditure Survey to determine the annual cost of groceries and healthcare for seniors 65 and over.
A locality needed to have at least 10% of its residents over the age of 65, as determined by the Census Bureau’s 2020 American Community Survey, and a livability score of 75 or higher, as determined by AreaVibes, in order to qualify for the study. Here are the 10 great places to retire on the east coast and reasonably priced cities on the east coast for retirees.
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10 Affordable Great Places To Retire On The East Coast
10. Canton, Georgia
•1-bedroom rent: $1,266.29
•Livability score: 78
•Total monthly expenditures: $2,073.51
One of the great places to retire on the east coast. In Canton, not only do you have a high livability score, but monthly grocery cost is only $407.30 and $399.92 for healthcare, lower than the national averages.
9. Melbourne, Florida
•1-bedroom rent: $1,230.29
•Livability score: 75
•Total monthly expenditures: $2,049.79
Melbourne is a place where 21% of the population is age 65 or over, which makes sense. Monthly cost for groceries, $412.25, is about the same as the national average of $411.83, but a healthcare cost of $407.26 per month is lower than the national average of $431.42.
8. Chester, Virginia
•1-bedroom rent: $1,215.14
•Livability score: 80
•Total monthly expenditures: $2,044.88
It’s among the top great places to retire on the east coast. Chester has a great livability score, and it’s not even the highest on the list. You’ll pay less than $830 per month for grocery and healthcare costs combined.
7. Lakeland, Florida
•1-bedroom rent: $1,199.86
•Livability score: 82
•Total monthly expenditures: $2,038.70
Lakeland may only be seventh on this list, but with a livability score of 82 and 20% of the population being age 65 and older, it’s already got a lot going for any retiree who wants to call it home.
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6. Palm Bay, Florida
•1-bedroom rent: $1,196.86
•Livability score: 80
•Total monthly expenditures: $2,012.24
The great places to retire on the east coast – Palm Bay could be another dream location for retirees, with great livability and monthly costs for groceries at less than $410 and healthcare less than $420.
5. Winter Garden, Florida
•1-bedroom rent: $1,115.83
•Livability score: 85
•Total monthly expenditures: $1,965.54
Winter Garden has the second highest livability score on the list, though you do pay a bit more in monthly groceries and healthcare here than other similar cities.
4. Panama City Beach, Florida
•1-bedroom rent: $1,106.71
•Livability score: 76
•Total monthly expenditures: $1,946.91
Another one of the great places to retire on the east coast. In Panama City Beach you’ll be too busy enjoying the weather to mind that your monthly groceries are a bit more expensive than other cities on this list. Still, for groceries and healthcare together, you’re paying less than $840 total per month.
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3. Concord, North Carolina
•1-bedroom rent: $1,045.57
•Livability score: 83
•Total monthly expenditures: $1,881.47
Great places to retire on the east coast, Concord has a very high livability score, as well, at 83. You’ll pay $421.72 per month on average for groceries, and $418.47 per month for healthcare.
2. Mauldin, South Carolina
•1-bedroom rent: $944.71
•Livability score: 88
•Total monthly expenditures: $1,789.89
Though Mauldin comes in at number two overall, it has the highest livability score of the entire list, at 88. No surprise that 19% of the population here is age 65 and older.
1. Roanoke, Virginia
•1-bedroom rent: $919.71
•Livability score: 75
•Total monthly expenditures: $1,783.32
Roanoke wins the top spot, with a solid livability score and 20% of the population is age 65 or older. In addition, you can quite comfortably afford to live here on a retirement budget, with total monthly expenditures falling below $2,000.
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