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Dreaming of a retirement spent sipping cocktails by the ocean? It might be more affordable than you think.
Several beach towns across the U.S. offer comfortable living on a fixed income. Here are thirteen coastal cities where you could potentially live on just Social Security:
1. Corpus Christi, Texas
- Median home price: $264,000
With no state income tax and a cost of living 10% below the national average, Corpus Christi is an attractive option. Enjoy Gulf Coast beaches, deep-sea fishing, and numerous golf courses.
2. Lillian, Alabama
- Median home price: $240,000
Lillian offers a tranquil retirement for those seeking peace and quiet. Outdoor enthusiasts will appreciate the ample opportunities for kayaking, boating, and swimming.
3. Pensacola, Florida
- Median home price: $317,500
Florida’s lack of state income tax is a major draw for retirees. Pensacola offers a budget-friendly beach lifestyle, with a cost of living 5% below the national average and a large retiree community.
4. Brunswick, Georgia
- Median home price: $200,000
Brunswick, part of Georgia’s Golden Isles, provides picturesque living at a below-average cost. Its rich history, stunning views, and peaceful atmosphere are ideal for a relaxing retirement.
5. Sunset Beach, North Carolina
- Median home price: $422,500
While home prices average higher in Sunset Beach, affordable options around $300,000 can be found. North Carolina’s lack of tax on Social Security benefits is another financial perk.
6. Gulfport, Mississippi
- Median home price: $119,950
Gulfport boasts affordable housing and a cost of living nearly 14% below the national average. From hiking to beach strolls, it’s perfect for active retirees.
7. Michigan City, Indiana
- Median home price: $152,200
Michigan City offers a more affordable beach escape for Midwesterners, with the added benefit of cooler temperatures than southern states.
8. Port Arthur, Texas
- Median home price: $142,500
This Gulf Coast town combines affordability with outdoor activities like fishing and hiking in the Texas Point National Wildlife Refuge. The absence of state income tax adds to its appeal.
9. Myrtle Beach, South Carolina
- Median home price: $271,250
Myrtle Beach offers a vibrant retirement with plenty of activities, from golf and shopping to its bustling boardwalk.
10. Atlantic City, New Jersey
- Median home price: $168,750
For those who enjoy casinos and boardwalks, Atlantic City is an affordable beach town with a lower cost of living, leaving more room in the budget for entertainment.
11. Newport News, Virginia
- Median home price: $290,000
Newport News offers an affordable cost of living, a strong healthcare system, and reasonable housing prices. Easy access to Norfolk and Virginia Beach adds to its appeal.
12. Deerfield Beach, Florida
- Median home price: $327,950
With a below-average cost of living and no state income tax, Deerfield Beach offers a financially attractive retirement destination. Enjoy beaches, fishing, restaurants, and that quintessential vacation feeling.
Planning for Your Beach Retirement
A beach retirement is achievable with careful planning and saving. These affordable towns offer the possibility of a relaxing and fulfilling next chapter.
Tips for Improving Your Finances
Regardless of your financial situation, there are always ways to improve. Consider focusing on paying off debt, exploring options for extra income, and finding ways to cut expenses. Look into balance transfer credit cards, debt counseling, part-time jobs, and shopping around for lower insurance rates and travel deals.