Many retirees rely heavily on Social Security and need cities where rent won’t take up their entire benefit payment. So, a budget of $1,220 for monthly rent payment seems realistic for many and leaves room for essentials like utilities, groceries, and gas.
Data from the FinanceBuzz best cities for snowbirds study shows that it is more than possible, with at least a dozen cities in the South where you can retire on a modest budget. These destinations may be geared toward snowbirds, but those with even modest retirement plans can enjoy them year-round.
Are you on track for retirement? Take this quiz and find out.
1. Knoxville, Tennessee
Median monthly rent: $1,219…