10 Safest Places To Retire on the East Coast for Less Than $3,500 Month
If you’re looking to retire in a place where you can enjoy the turn of the seasons, some places on the East Coast can be a good pick. From New Hampshire to Georgia, there’s plenty of states to choose from, but which states have the safest places to retire on a limited budget?
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To determine the safest places to retire on the East Coast for less than $3,500 per month, GOBankingRates first looked at NeighborhoodScout’s 2023 Safest Cities in America list for crime data for East Coast cities and also sourced all available rent data for the region. It also used Sperling’s Best cost-of-living index for grocery, utility and healthcare scores and data from the Bureau of Labor Statistics 2021 Consumer Expenditure Survey to find annual expenditures for those same categories in regards to people 65 and over.
GOBankingRates then added monthly rent, grocery, utilities and healthcare costs together for each city to see where a person 65 and older could survive on a budget of $3,500 or less. Here are the 10 safest places to retire on the East Coast for less than $3,500 per month.
10. Merrimack, New Hampshire
Monthly Expenditures: $3,488.88
Average Monthly Rent: $2,210
Crime Rate: 5.7
Merrimack has a population of around 27,000 and is near the city Manchester. If you’re concerned about crime, you have a 1 in 172 chance of being a victim of crime, which is on the lower side. The average monthly grocery cost is right under $400 per month and so are monthly utilities. The average monthly healthcare is a bit higher at approximately $486.
9. Rahway, New Jersey
Monthly Expenditures: $3,452.56
Average Monthly Rent: $2,114
Crime Rate: 7.9
Rahway, which is close to New York City, is safer than about 59% of U.S. cities. The type of crimes that occur there are typically related to property as opposed to violent crimes. Average monthly grocery costs are around $390 per month, while utilities run about $376. Average monthly healthcare costs are higher at around $571.
8. North Andover, Massachusetts
Monthly Expenditures: $3,442.19
Average Monthly Rent: $2,158
Crime Rate: 5.2
North Andover is near Boston. You have a one in 190 chance of being a victim of crime there. Average monthly grocery costs are around $414, while healthcare is higher at $519. Utilities are the most economical at around $350 per month.
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7. Milton, Georgia
Monthly Expenditures: $3,364.62
Average Monthly Rent: $2,066
Crime Rate: 5.9
Milton is safer than 70% of all U.S. cities. Average monthly costs for groceries and utilities are approximately $387 and $332, respectively. Average monthly healthcare costs are higher at around $588.
6. Derry, New Hampshire
Monthly Expenditures: $3,314.90
Average Monthly Rent: $2,031
Crime Rate: 8.3
Derry has a population of approximately 34,000 and is close to Boston. Your chance of being a crime victim is one in 121. Average monthly grocery costs are right under $400 and so are monthly utilities. Average monthly healthcare costs are a bit higher at around $488.
5. Cheshire, Connecticut
Monthly Expenditures: $3,277.46
Average Monthly Rent: $1,800
Crime Rate: 7.4
Nearby to New Haven, Cheshire has a population of 28,628. Residents have a one in 134 chance of being a crime victim here. Average monthly healthcare costs are around $706, but utilities are much less at $365, and groceries are right over $400.
4. Wallingford, Connecticut
Monthly Expenditures: $3,145.14
Average Monthly Rent: $1,672
Crime Rate: 6.8
Wallingford is a little bit larger city with a population of 44,194. It’s safer than 66% of U.S. cities. Average healthcare and grocery costs are on par with Cheshire at $706 and $365, respectively. Groceries are also right over $400.
3. Fort Mill, South Carolina
Monthly Expenditures: $3,127.90
Average Monthly Rent: $1,778
Crime Rate: 6.6
Fort Mill has a population of about 28,000 and is considered one of the fastest growing cities in the state. Average utility costs here are about $324 per month, while groceries run about $371. Healthcare costs are much higher at approximately $653.
2. New Milford, Connecticut
Monthly Expenditures: $3,109.57
Average Monthly Rent: $1,662
Crime Rate: 8.1
New Milford is safer than 58% of U.S. cities and has a population of around 28,000. Average monthly utility and grocery costs run about $391 and $402, respectively, while average healthcare costs are about $655.
1. West Warwick, Rhode Island
Monthly Expenditures: $2,717.72
Average Monthly Rent: $1,438
Crime Rate: 8.5
Living in West Warwick will leave almost an $800 surplus if you have a $3,500 budget. This is not only because rent is lower but average monthly grocery and utility costs are under $400, and healthcare costs are only about $510. Chances of being a crime victim are one in 116.
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Methodology: GOBankingRates determined the safest places to retire on the east coast for less than $3,500 a month by first looking at NeigborhoodScout’s 2023 Safest Cities in America list and sourcing all east coast cities with available 2022 rent data. GOBankingRates then used Sperling’s Best to find the cost of living index for each listed city, looking at grocery, utilities and healthcare index scores. Next, GOBankingRates used data from the Bureau of Labor Statistics 2021 Consumer Expenditure Survey to find the annual expenditure amount for both grocery (“food at home”), utilities and healthcare costs for people aged 65 and older in order to find how much a 65 and over person would spend on groceries, utilities and healthcare in each city on a monthly basis. GOBankingRates then added monthly housing, grocery, utilities and healthcare costs together to find where a person 65 and older could survive on $3,500 or less. All data was collected and is up to date as of February 8, 2023.
This article originally appeared on GOBankingRates.com: 10 Safest Places To Retire on the East Coast for Less Than $3,500 Month
