Enjoy a lower cost of living in these retiree-friendly cities.


Whether you are looking to stretch your retirement income that little bit further—or simply hoping to retire early—it might make sense to move to a less expensive city. U.S. News recently pored over U.S. Census Bureau and Bureau of Labor Statistics data to identify those places where the average retiree is most likely to cover basic expenses, such as housing and healthcare, for under $100 per day (or $36,500 per year).


If you’re a homeowner, moving may involve downsizing or trading your house for a similar-size property in a less-expensive area, with you pocketing the change. One city on the list, Pittsburgh, has the average mortgage owner paying just $1,227 per month on housing. 


Some more of the “10 Best Places to Retire on $100 a Day” according to U.S. News:


  • Aurora, Colorado
  • Cleveland, Ohio
  • Dallas, Texas


Durham (NC), Jacksonville (FL), Madison (WI), Phoenix (AZ), Minneapolis (MN) and Kansas City (KS) also featured on the list.


To give yourself a general idea of what you’re currently spending on basics like meals and household expenses, you can use this TIAA-CREF budget worksheet. How does the monthly total compare with the monthly income you expect to receive in retirement? If there’s a shortfall, it may be time to consider a move to one of the low-cost locales mentioned above. If you do decide to go through with it, don’t underestimate moving expenses and the emotional effects of leaving behind friends and family.


As well as essential budget items, the TIAA-CREF worksheet includes a column to account for discretionary items—how much you spend per month on home improvement, dining out and other non-essentials. Luxuries such as travel and entertainment were not factored in when U.S. News compiled their list of cities, so part-time work could prove necessary to fund your golf club membership, box at the opera or other extravagances.