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Best Places in Every State to Live On a Fixed Income

April 5, 2018 · Retirement Life

South Dakota: Rapid City

Welcome to the “Gateway to the Black Hills”, or should we say, “City of Presidents”? The first is due to the city’s location while the second is due to the life-size bronze president statues located downtown- a place we’re sure you’ll be spending a lot of your retirement in.

Rent here will cost you around $1,270 a month, ideal for seniors on a tight budget compared to other cities in the state. Home values have also increased by 5% lately, but you’ll have no problem finding a place to call your own in the second-most populous city in South Dakota.

A man relaxing by Cherokee Lake in Morristown, Tennessee.
A man and his dog enjoy a peaceful morning of fishing by a misty Tennessee lake.

Tennessee: Morristown

The median home value in Morristown has only risen by 3% lately, so you’ll be looking for a place to stay in a steady, reliable market when you retire. Not only that, but since 2017, despite rent prices going up, you still don’t have to pay any more than $1,000.

The city is filled with historic sites you can visit regularly. There are a number of parks for hiking if you want to stay active and healthy during your golden years- you could even take up golfing at the Morristown Golf and Country Club.

Seniors at a community event in College Station, Texas.
Seniors enjoy a lively social gathering under shaded oak trees near Kyle Field in College Station.

Texas: College Station

College Station, a city in the centre of the region known as the “Texas Triangle”, is great for a multitude of reasons. Firstly, you don’t have to worry about taxes on your income and Social Security benefits, meaning you can spend more on housing. Not that you have to, however, seeing as home values only went up 2% lately.

The only downside to living here is the high property tax rate, which you should look out for before you decide on the move.

A couple hiking with mountain views in Provo, Utah.
Retirees can enjoy breathtaking mountain views and active outdoor lifestyles while living affordably in Provo, Utah.

Utah: Provo

The third-largest city in Utah, Provo, has a lot to offer to active retirees. But let’s start with housing prices, shall we? While the median home value here is pretty high, you can rely on cheap rent to live here, seeing as those prices have gone down by 0.3% lately.

America’s Freedom Festival at Provo hosted every July, is held at the LaVell Edwards Stadium and usually includes notable figures. Bob Hope, David Hasselhoff, Reba McEntire and Mandy Moore, for example, have been featured.

But that’s not all. Provo also organizes Festival Latinoamericano, a family-oriented Labor Day event that focuses on the Hispanic culture.

A woman in an art gallery in Rutland, Vermont.
Residents enjoy vibrant local culture at the Rutland Arts Collective in this affordable Vermont community.

Vermont: Rutland

65 miles north of Massachusetts, you’ll find the lovely city of Rutland. Home values here have gone down by 2% in the last year, making it an ideal retirement destination if you’re worried about downsizing and staying within a tight budget.

The city also hosts a number of events such as Art in the Park, Friday Night Live, Downtown Street Party & Sidewalk Sales, The Summer Concert Series in Main Street Park and summer and winter farmer markets, just to name a few.

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4 responses to “Best Places in Every State to Live On a Fixed Income”

  1. Robert Jones says:
    January 28, 2019 at 2:43 pm

    Nothing is said about Medical facilities which are of importance to the elderly.

    Reply
  2. William Horn says:
    January 28, 2019 at 4:03 pm

    I’d like to see an article about the best places for people with incomes under $1,000

    Reply
  3. Ray says:
    January 29, 2019 at 2:59 pm

    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.

    Reply
  4. Red Winzer says:
    January 29, 2019 at 7:01 pm

    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.

    Reply

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