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15 Cheap, Beautiful Places To Retire

·3 min read
Halfpoint / Getty Images/iStockphoto
Halfpoint / Getty Images/iStockphoto

If you're like most people facing retirement, you're working with a limited budget. Even so, that doesn't mean you have to settle for living out your golden years in a less-than-desirable locale just to make ends meet.

Look: Best Cities To Retire on a Budget of $1,500 a Month
More: How Biden Is Impacting Social Security in 2022

Retirement should be about enjoying your life with minimal stress and spending some time in an environment you find pleasing. To do that on a budget though, you'll need to choose a retirement destination that's not only affordable but also features a hospitable climate. To assist you in your relocation plans, GOBankingRates looked at hundreds of U.S. cities to find the cheapest places to retire that feature favorable weather.

More often than not, retirees will find the most affordable and sunniest retirement destinations in the southernmost state of the continental U.S. -- Florida. In fact, one third of the 15 U.S. cities on this list are in Florida.

To rank in the study, each city had to meet the following requirements: More than 25% of the population had to be age 65 or older, the median home listing price must have ranked below the national average of $344,141 and the average annual temperature needed to fall in the moderate range. Check out these beautiful places to retire that won't stretch your bank account.

benedek / Getty Images
benedek / Getty Images

Sebring, Florida

  • Median home value: $215,686

  • Average temperature (Fahrenheit): 74

  • Total population: 10,454

  • Percentage of population 65 and older: 25.8%

POLL: Are You Concerned That Social Security Benefits Will Be Reduced During Your Lifetime?

BlazenImages / Getty Images/iStockphoto
BlazenImages / Getty Images/iStockphoto

Mountain Home, Arkansas

  • Median home value: $178,079

  • Average temperature (Fahrenheit): 69

  • Total population: 12,463

  • Percentage of population 65 and older: 29%

KenWiedemann / Getty Images
KenWiedemann / Getty Images

Tarboro, North Carolina

  • Median home value: $111,114

  • Average temperature (Fahrenheit): 60.8

  • Total population: 10,806

  • Percentage of population 65 and older: 27.6%

MG_Photos / Shutterstock.com
MG_Photos / Shutterstock.com

Zephyrhills, Florida

  • Median home value: $244,653

  • Average temperature (Fahrenheit): 72

  • Total population: 16,062

  • Percentage of population 65 and older: 35.7%

Joseph Sohm / Shutterstock.com
Joseph Sohm / Shutterstock.com

Hot Springs Village, Arkansas

  • Median home value: $272,342

  • Average temperature (Fahrenheit): 73

  • Total population: 15,562

  • Percentage of population 65 and older: 62.8%

Shutterstock.com
Shutterstock.com

Winter Haven, Florida

  • Median home value: $276,740

  • Average temperature (Fahrenheit): 73.2

  • Total population: 42,933

  • Percentage of population 65 and older: 25.5%

Shutterstock.com
Shutterstock.com

Leesburg, Florida

  • Median home value: $278,534

  • Average temperature (Fahrenheit): 72.2

  • Total population: 23,142

  • Percentage of population 65 and older: 25.5%

Ken Bosma / Wikimedia Commons
Ken Bosma / Wikimedia Commons

Bullhead City, Arizona

  • Median home value: $310,565

  • Average temperature (Fahrenheit): 74.7

  • Total population: 40,808

  • Percentage of population 65 and older: 31%

Steve Heap / Shutterstock.com
Steve Heap / Shutterstock.com

Saint Albans, West Virginia

  • Median home value: $129,982

  • Average temperature (Fahrenheit): 55.8

  • Total population: 10,078

  • Percentage of population 65 and older: 25.6%

Trong Nguyen / Shutterstock.com
Trong Nguyen / Shutterstock.com

Rockport, Texas

  • Median home value: $287,717

  • Average temperature (Fahrenheit): 71.2

  • Total population: 10,815

  • Percentage of population 65 and older: 28%

Shutterstock.com
Shutterstock.com

North Fort Myers, Florida

  • Median home value: $328,368

  • Average temperature (Fahrenheit): 73.8

  • Total population: 42,315

  • Percentage of population 65 and older: 47.1%

AlexLinck / Shutterstock.com
AlexLinck / Shutterstock.com

Mount Airy, North Carolina

  • Median home value: $153,561

  • Average temperature (Fahrenheit): 55.2

  • Total population: 10,213

  • Percentage of population 65 and older: 26.7%

Shutterstock.com
Shutterstock.com

Aiken, South Carolina

  • Median home value: $247,935

  • Average temperature (Fahrenheit): 63.5

  • Total population: 31,428

  • Percentage of population 65 and older: 26.1%

Redfin
Redfin

Kingsport, Tennessee

  • Median home value: $195,583

  • Average temperature (Fahrenheit): 57.5

  • Total population: 53,699

  • Percentage of population 65 and older: 25%

stevegeer / Getty Images/iStockphoto
stevegeer / Getty Images/iStockphoto

Godfrey, Illinois

  • Median home value: $177,266

  • Average temperature (Fahrenheit): 55.3

  • Total population: 17,540

  • Percentage of population 65 and older: 27.6%

More From GOBankingRates

Cynthia Measom and Jordan Rosenfeld contributed to the reporting for this article.

Methodology: For this piece, GOBankingRates first (1) selected all U.S. cities with populations greater than 10,000 and at least 25 percent comprised of persons 65-years and older, as sourced from the Census Bureau's 2020 American Community Survey. GOBankingRates then (2) ranked cities whose median home value in April 2022, as sourced from Zillow, was below the national average; and whose average annual temperatures ranged between 50 and 80 degrees (F), as (3) sourced from WeatherBase. All data was compiled on June 8, 2022.

This article originally appeared on GOBankingRates.com: 15 Cheap, Beautiful Places To Retire