Just a small amount of savings along with Social Security benefits will have you living comfortably in many locations throughout the U.S. Some of the best places to retire also provide retirees with nearby senior services and top medical facilities.
Here are seven best places to retire on $75 a day.
1. Akron, Ohio
, is located in a state that has made remarkable economic progress. The city, known for its rubber and tire production, offers highly rated medical centers and low housing costs. Living expenses are well within the means of many seniors, according to U.S. News and World Report
. Based on 2012 Census Bureau data, seniors pay a median montly housing cost of $1,087 with a mortgage, $420 if they own their homes debt-free, with rent at about $640 a month.
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2. Greenville, South Carolina
, provides lower housing costs than many other areas in the country. People aged 60 or older pay a median monthly housing cost of about $1,000 with a mortgage, U.S. News said. Monthly housing costs without a mortgage are about $300 a month while rents are estimated at about $670 on average.
3. San Antonio, Texas
, is among the friendliest cities for retires. There is no state income tax, making it more attractive. Average rent for seniors in 2012 was $671 monthly, U.S. News reported. Median cost for senior homeowners was $1,184 with a mortgage and $395 without a mortgage. Property taxes, however, may be high.
4. In Knoxville, Tennessee
, the average rent for a one-bedroom unit is about $675, which is lower than most areas throughout the country, according to the Simple Dollar
, which pointed out that CNN Money and Brankrate called Tennessee among the best places to retire because of low-cost living and a variety of outdoor activities. Knoxville is also close to the Great Smoky Mountains.
5. Syracuse, New York
, is below the national average for cost of living and is an attractive spot that makes it one of the best places to retire on $75 a day.
The average price of a house for a retired homeowner is about $77,200, according to the Simple Dollar. Syracuse includes many cultural events and exceptional health care facilities.
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6. Prattville, Alabama
, is attractive to senior homeowners for its lower property tax, which averages annually at about $490, according to Time
. The median home price is about $150,000. There are splendid views of the Alabama River.
7. Sarasota, Florida
, has a median sale price for homes of $136,000, making monthly mortgages affordable, Time said. Inexpensive rents can also be found in a beachside area that also offers cultural activities, including the Florida West Coast Symphony, opera, ballet and festivals. Florida has no state income tax.
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