Best Places to Retire on $30,000 a Year
Retirement planning focuses heavily on finances and having enough income to sustain a comfortable life after leaving the workforce. If you are considering relocating to a new city, AARP the Magazine, has compiled a list of the top 10 locations nationwide to retire on $30,000 a year. The magazine considered a number of financial factors including median home prices, property taxes and mortgage. The survey also took into consideration the affordability of cities’ entertainment, as well as the local eateries, after interviewing 50 or more residents in each location.
1. Bangor, Maine
The big draw here? Maine blueberry pancakes for $5.59 at Geaghan’s restaurant for Sunday breakfast, the AARP says. While one cannot live on pancakes alone, the area’s median home price is $110,400 and the median property tax is $1,303 a year.
2. Daytona/Deltona/Ormond Beach, Fla.
Median home prices are $109,900 while annual media property taxes are $1,161. For a little fund, AARP recommends checking out Tia Cori’s Tacos on North Beach in Daytona, where tacos are $1.50 and margaritas are $4.
3. Erie, Pa.
The median home price in Erie is $106,600 and median property taxes are $1,899. The AARP says the city’s residents’ “favorite freebie” is the 75-foot observation deck at Presque Isle State Park.
4. Grand Rapids, Mich.
Grand Rapids is home to the nation’s No.1 brew pub, HopCat. Home prices here run at a median of $114,200 and annual median property taxes are $1,830.
5. Greenville, S.C.
Property taxes in Greenville come in at under $1,000 annually, with a median of $753. Also residents can find homes for a median price of $127,600 and grab lunch at Legrand Bakery, where petit pain is only 65 cents, the AARP reports.
6. Louisville, Ky.
Median home prices here are $128,200 and median property taxes are $1,116. Residents’ favorite freebies are the yoga classes offered in Cherokee, Shelby and Rubel parks.
7. Pocatello, Idaho
This city offers self-guided walking tours downtown that provide a look at historic buildings and architectural landmarks, the AARP says. The median home price here is $127,500 and median property taxes are $1,179.
8. Pueblo, Colo.
Property taxes here are also extremely low, at $765 a year, and median home prices are $102,600. The city is famous for its Mira Sol green chile peppers, so the AARP suggests picking up a “slopper” sandwich, a cheeseburger with green chile topping at The Sunset Inn.
9. Sherman/Deninson, Texas
Median home prices here are low at $79,400 and the median property tax comes in at $1,158 a year. The AARP says the city’s best freebie is the Hagerman National Wildlife Refuge, with more than 300 species of birds, 36 species of mammals, 60 species of reptiles and amphibians and 61 species of fish.
10. South Bend, Ind.
Home prices in the city are also relatively low at a median of $82,500 and median property taxes come in at $846 a year. The best eats in town are cheeseburgers at CJ’s Pub, the AARP says, and are so popular that they are sold in area supermarkets.