List of Top 10 U.S. Cities Where Retirees Can Live Well on Social Security

Retiring with just your Social Security benefits can present some challenges, especially with the rising cost of living in the U.S. But there are cities where you can retire affordably and comfortably on Social Security. A recent study published by Forbes and Nasdaq identified a number of U.S. cities that stand out due to overall cost of living, access to healthcare, better tax policies, and overall quality of life. 

These cities will allow retirees to enjoy life without worrying about money, with welcoming environments, good weather, and activities to be engaged and active in their retirement years. Whether you want the beaches of Florida, the relaxed style of the Carolinas, or the value and quietness of Texas, there are good options for cities. Let's see the top 10 cities in the country where retirees can live well on just Social Security.

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Top 10 U.S. Cities Where Retirees Can Live Well on Social Security

Here are the top 10 cities where Retirees can live well on Social Security:

1. Tallahassee, Florida

Tallahassee, Florida, is the perfect mix of southern charm, affordability, and health care access for retirees. Homeowners pay about $1,248 a month on average, making Tallahassee one of the lowest-cost cities in Florida. 

Tallahassee has parks, cultural events, and a mild climate for active retirees. Furthermore, retirees do not need to pay state income tax in Florida, so it is also a financial advantage. The college-town environment is full of energy, while the pace of life is peaceful and relaxed. 

2. Fort Myers, Florida

If you prefer coastal living to inland, Fort Myers, Florida, offers coastal vibes of beauty and enjoyment in the retirement city with the highest monthly costs for homeowners at $1,746. Compared to other waterfront communities, Fort Myers is still inexpensive. 

The city has sunshine, beautiful beaches, and plenty of art and dining. Fort Myers also has some of the best access to healthcare facilities and activities such as golf, fishing, boating, and other recreational options. Florida is also tax-friendly, so Fort Myers is one of the best values for retirees who prefer an active lifestyle on the water.

3. Raleigh, North Carolina

Raleigh gives retirees both urban elegance and Southern charm all in one. Living costs for homeowners are moderately high at $2,037 per month, but are matched by the quality of life, excellent medical systems, and mild climate consisting of four seasons. 

Raleigh is located in the Research Triangle, which includes excellent universities, museums, and parks. The optimal density for neighborhoods and low crime rates makes it successful for retirees who want a community with cultural activities and healthcare access.

4. Jacksonville, Florida

Jacksonville is an optimal city for retirees with mortgage worries; the average cost of living for homeowners is just $1,197 per month. Besides the reasonable cost of living, Jacksonville is the largest city by area in the continental US, with neighborhoods, waterfront areas, and 22 miles of beach. 

Retirees can take advantage of Florida's absence of a state income tax and median housing costs that are quite low, yet still provide retirees with great health care insurance, a mild climate, and recreational opportunities, including parks, golf, and waterfront space.

5. Pensacola, Florida

Pensacola is undoubtedly one of the most budget-friendly retirement destinations, with owner-occupied housing costing on average just $929 a month. Located on the Gulf Coast of Florida, you can find sugar-white beaches, historic charm, and a relaxed lifestyle.

Even if it feels like a small town, you have access to military medical resources, local events, and a mild climate year-round. The absence of a state income tax and affordable housing make it easy to stretch your Social Security income while enjoying the affordability of coastal living.