How Much You Need to Retire in 10 Southern States

Additional Coverage:

The Minimum Savings You Need To Retire At 65 In These 10 Southern States (financebuzz.com)

Southern Comfort: How Much You’ll Need to Retire in the Sun Belt

Americans are packing their bags and heading South in droves! A recent study revealed that nearly 2 million people flocked to the Southern states between 2023 and 2024, making it the fastest-growing region in the nation. It seems the allure of warmer weather and a potentially lower cost of living is a strong draw, especially for those eyeing their golden years.

When it comes to retirement, folks tend to be pretty savvy with their savings. A 2025 study in Financial Planning Review found that couples aged 65 typically withdraw a modest 2.1% from their retirement accounts annually, while singles take out an even more conservative 1.9%. This cautious approach suggests retirees are looking to make their nest eggs last.

If your retirement dreams include a move to the sunny South, you’re likely wondering just how much you’ll need to live comfortably. We’ve crunched the numbers to give you an idea of the minimum amount required to retire at 65 in some popular Southern states.

(Editor’s Note: Retirement income needs are based on typical withdrawal patterns. Home prices from Zillow, rental data from RentCafe, and senior care costs from CareScout.)

1. Florida

Minimum amount needed to retire here: $967,190

The Sunshine State remains a top choice for retirees, and it’s easy to see why. Florida boasts no state income tax, which can help stretch those Social Security and retirement plan dollars further. However, be prepared for some of the highest home insurance costs in the country.

The median home price in Florida is $370,112, slightly above the national median of $357,445. Renters can expect to pay a median of $1,962, also higher than the national median of $1,741. For senior care, assisted living averages $5,610 monthly, while nursing home costs range from $10,342 for a semi-private room to $12,167 for a private room.

2. Texas

Minimum amount needed to retire here: $833,575

Texas saw more new residents than any other state in 2025, thanks to its warm climate and robust economy. Retirees are also finding the Lone Star State charming, with a median home price of $294,807, significantly below the national average. Rent is also a bargain at a median of $1,438.

Assisted living in Texas averages $5,666 per month. Nursing home costs are $5,627 for a semi-private room and $7,604 for a private room. While Texas has no state income tax, be aware that property taxes are among the highest in the U.S.

3. Georgia

Minimum amount needed to retire here: $848,933

Whether you prefer the bustling city life of Atlanta or the tranquility of mountain or coastal living, Georgia offers something for every retiree. The Peach State’s median home price sits at $325,999, and the median rent is $1,637, both below the national average.

Assisted living in Georgia costs an average of $5,300 monthly. Nursing home care averages $8,821 for a semi-private room and $9,429 for a private room.

4. Tennessee

Minimum amount needed to retire here: $825,896

If you’re looking for a vibrant city with a booming business scene, Nashville might just be your retirement sweet spot. Even if you’re mostly retired but still want to dabble in work, Music City offers opportunities.

The median home price in Tennessee is $324,926, and the median rent is $1,526, both slightly below the national average. Assisted living averages $5,845 monthly, with nursing home costs at $9,429 for a semi-private room and $10,038 for a private room. The Volunteer State also boasts no state income tax, though interest and dividends are taxed.

5. North Carolina

Minimum amount needed to retire here: $934,938

North Carolina’s rising popularity has led to an uptick in housing costs, but it remains a more affordable option compared to national averages. The median home price in the Tar Heel State is $328,611, and median rent is $1,549.

Assisted living averages $6,496 monthly, while nursing home care runs $9,733 for semi-private rooms and $10,798 for private rooms. Property taxes are reasonable, and income taxes are among the lowest in states that levy them.

6. South Carolina

Minimum amount needed to retire here: $859,684

If North Carolina feels a bit pricey, a short drive south to the Palmetto State can offer a more budget-friendly lifestyle. The median home price in South Carolina is $298,316, significantly less than its northern neighbor. Median rent is $1,611.

Assisted living is notably more affordable at $5,350 per month, while nursing home costs are similar to neighboring states, ranging from $9,034 to $9,612 monthly. South Carolina also boasts some of the lowest property taxes in the nation.

7. Louisiana

Minimum amount needed to retire here: $862,756

Looking for a charming alternative to Texas that’s still nearby? Louisiana might be your answer. The Bayou State offers incredibly affordable housing, with a median home price of $206,946 and median rent at just $1,248.

Louisiana also offers competitive pricing for senior care: $5,163 for assisted living, $7,604 for semi-private nursing homes, and $8,076 for private rooms. The state has a low 3% flat income tax and modest property taxes.

8. Mississippi

Minimum amount needed to retire here: $752,178

Mississippi holds the distinction of requiring the lowest retirement nest egg on this list, thanks in large part to its remarkably affordable housing. In the Magnolia State, the median home price is a rock-bottom $186,295, and the median rent is $1,324.

Assisted living averages $4,369 monthly. Nursing home costs are $9,581 for a semi-private room and $9,885 for a private room.

9. Alabama

Minimum amount needed to retire here: $789,037

From bustling cities to serene mountains and coastal havens, Alabama offers a diverse landscape for retirees. The state boasts an affordable cost of living, with median home prices at $228,634 and median rent at $1,315. Plus, it has the second-lowest property taxes in the nation.

Assisted living averages $4,425 monthly, and nursing home costs are $8,334 for a semi-private room and $8,787 for a private room.

10. Arkansas

Minimum amount needed to retire here: $810,538

Don’t let its size fool you; Arkansas is an affordable gem for retirees. The Natural State features a median home price of $215,426-one of the lowest on this list-with median rent at just $1,128. It also boasts some of the nation’s lowest property taxes.

Arkansas offers the region’s most budget-friendly senior care at $4,637 monthly for assisted living, with nursing homes starting at $7,452 for a semi-private room or $8,060 for a private room.

Bottom Line

The South continues to attract retirees with its warm climate and appealing cost of living. Many Southern states also offer low, or even non-existent, taxes, which can significantly stretch retirement savings. If you’re planning your retirement, a move to the Southern U.S. could be a smart financial strategy.