In the midst of the rise in prices in various consumer items, derived from inflation in the country, choosing a city to live at a low cost may sound crazy, and even more so if you plan to spend your golden years of retirement there.
The personal finance site GoBankingRates has compiled a ranking of the best cities to retire. For this, it took as a reference the Zumper National Income Report, of March 2022, of the cities with one-bedroom apartments for $1,000 or less.
He then correlated this information with data from the 2020 Consumer Spending Survey, from the Bureau of Labor Statistics, to find the places with the best cost of living, spending on groceries and health care for people 65 and older.
Oklahoma City ranked tenth on the list, with an average monthly budget of $1,725.63. Corpus Christi, Texas followed in ninth place with $1,718.34; Indianapolis in eighth place, with $1,709. $95; Columbus, Ohio, in seventh, with $1,680.50; and Cincinnati in sixth, with $1,640.38.
5. Laredo, Texas
With a budget of $1,588.77 dollars per month, you can live comfortably in this area. According to research, only 9% of the population is 65 or older, which could make it difficult for members of the generation to socialize. Looking on the bright side, grocery costs come to $379.71 a month, already factored into the final calculation.
4. Tucson, Arizona
Tucson can boast the cheapest medical costs on the list, at $351.60 per month. In addition, it is estimated that 20% of the population belongs to the union of 65 years or older; the highest number on the list. The average budget required is $1,584.91 per month.
3. El Paso, Texas
El Paso is characterized by having one of the cheapest rentals on the list; only $810 dollars per month. Also, medical costs are the most affordable, at $374.04 per month. In general, the monthly expenses amount to $1,562.92 dollars, according to the website.
2. Lubbock, Texas
This Texas city has the cheapest rent, averaging $690 per month. In contrast, it has the highest health care costs, at $452.12. The average monthly budget amounts to $1,520.60 dollars.
1. Shreveport, Louisiana
In the first position, this site stood out for having the most affordable food prices, with $374.77 dollars. Plus, it has the second lowest rent on the list, averaging $730 per month. Monthly expenses, on average, amount to $1,498.65 dollars.
To see the complete list, click here.
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