Massachusetts: Worcester
In Worchester, the median home value is around $258,600 after having risen steadily by 6% over the past couple of years. You may think that’s a lot, and you’re right! But you have to keep in mind that in the state of Massachusetts, the median home price lands at a whopping $388,300.
If you already live in Massachusetts and are looking to downsize while not going too far from your friends and family, we recommend paying Worchester a visit, you may end up paying a lot less by doing so during retirement.
Michigan: Midland
The city of Midland in Michigan is yet another place you might want to settle down where home values have gone up by a mere 1% lately. That means that you might find yourself a nice cosy nest egg for $130,100 or rent for $1,021. The latter option is particularly good seeing as prices went down by 6%.
Seniors who want to stay active and healthy will find many sporting facilities around town. If you’re a tennis fan you’ll love the fact that a centre here even hosts a USTA Pro Circuit event or the fact that it was part of the USTA award to Midland as America’s Best Tennis Town 2009.
Minnesota: Mankato
Mankato, the fifth largest city in Minnesota has a steady housing market, making it easy for seniors to settle down here, especially on a fixed income. Home values have gone down 2%. Rent has also steadily decreased, though not by much, over the last couple of years. You could rent a place here for $1,318.
Mississippi: Tupelo
With home prices $112,800 lower than the national average, it would be crazy if you didn’t consider Tupelo as your retirement destination. After all, you’ll be paying around $114,000 for a place of your own despite values going up by 2%. That’s a pretty stable market!
The city boasts the Tupelo Buffalo Park and Zoo, home to one of the largest American bison herds as well as exotic animals such as Emu, Pythons, and Zedonks. Also, history buffs will love the Tupelo and Brices Cross Roads national battlefields.
Missouri: Springfield
So maybe you’re one of those seniors who aren’t interested in buying a home of your own when you retire. If that’s the case then we welcome you to Springfield, where rent is the by far the cheapest on the list.
For $833 a month, we’d call that a steal. And don’t worry, prices have barely increased by 1% lately. But if you’re still interested in buying a home then you should expect to pay around $123,300 in Springfield.
4 thoughts on “Best Places in Every State to Live On a Fixed Income”
Nothing is said about Medical facilities which are of importance to the elderly.
I’d like to see an article about the best places for people with incomes under $1,000
What is with the “Median” values? A community could have 10,000 homes sold for $200,000 and if one home went for $100, 000 and another for $1,000,000 the median would be $450,000. Median is the half way value and is only used to mislead. It is not an average.
If the financial situation is dire enough that it is life or death, I suppose that these places would be preferable to death. If that is not the deciding factor, I would rather be dead than live in most of these places.