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15 Cheap, Beautiful Places To Retire

·3 min read
RyanJLane / Getty Images
RyanJLane / Getty Images

If you're like most people facing retirement, you don't have an unlimited budget. Even so, that doesn't mean that you have to settle for living out what are supposed to be your golden years in a less-than-desirable locale just to make ends meet.

Learn: 25 Things To Sell When You're Ready To Retire
Find Out: 20 Best Places To Live on Only a Social Security Check

Retirement should be about enjoying your life with minimal stress and spending some time in the sun. 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 $331,266 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: $207,496

  • Average temperature (Fahrenheit): 74

  • Total population: 10,454

  • Percentage of population 65 and older: 25.8%

KenWiedemann / Getty Images
KenWiedemann / Getty Images

Tarboro, North Carolina

  • Median home value: $107,526

  • Average temperature (Fahrenheit): 60.8

  • Total population: 10,806

  • Percentage of population 65 and older: 27.6%

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

Mountain Home, Arkansas

  • Median home value: $171,770

  • Average temperature (Fahrenheit): 69

  • Total population: 12,463

  • Percentage of population 65 and older: 29%

Shutterstock.com
Shutterstock.com

North Fort Myers, Florida

  • Median home value: $315,928

  • Average temperature (Fahrenheit): 73.8

  • Total population: 42,315

  • Percentage of population 65 and older: 47.1%

MG_Photos / Shutterstock.com
MG_Photos / Shutterstock.com

Zephyrhills, Florida

  • Median home value: $235,248

  • Average temperature (Fahrenheit): 72

  • Total population: 16,062

  • Percentage of population 65 and older: 35.7%

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

Saint Albans, West Virginia

  • Median home value: $126,358

  • Average temperature (Fahrenheit): 55.8

  • Total population: 10,078

  • Percentage of population 65 and older: 25.6%

Shutterstock.com
Shutterstock.com

Winter Haven, Florida

  • Median home value: $266,200

  • Average temperature (Fahrenheit): 73.2

  • Total population: 42,933

  • Percentage of population 65 and older: 25.5%

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

Hot Springs Village, Arkansas

  • Median home value: $264,819

  • Average temperature (Fahrenheit): 73

  • Total population: 15,562

  • Percentage of population 65 and older: 62.8%

Shutterstock.com
Shutterstock.com

Leesburg, Florida

  • Median home value: $260,604

  • Average temperature (Fahrenheit): 72.2

  • Total population: 23,142

  • Percentage of population 65 and older: 25.5%

AlexLinck / Shutterstock.com
AlexLinck / Shutterstock.com

Mount Airy, North Carolina

  • Median home value: $146,089

  • Average temperature (Fahrenheit): 55.2

  • Total population: 10,213

  • Percentage of population 65 and older: 26.7%

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%

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

Rockport, Texas

  • Median home value: $285,679

  • Average temperature (Fahrenheit): 71.2

  • Total population: 10,815

  • Percentage of population 65 and older: 28%

Redfin
Redfin

Kingsport, Tennessee

  • Median home value: $185,975

  • 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: $172,004

  • Average temperature (Fahrenheit): 55.3

  • Total population: 17,540

  • Percentage of population 65 and older: 27.6%

Shutterstock.com
Shutterstock.com

Aiken, South Carolina

  • Median home value: $237,763

  • Average temperature (Fahrenheit): 63.5

  • Total population: 31,428

  • Percentage of population 65 and older: 26.1%

More From GOBankingRates

Cynthia Measom contributed to the reporting for this article.

Methodology: GOBankingRates determined the cheapest cities by analyzing all U.S. cities with populations of over 10,000 people, narrowing down the list of cities to only those with greater than 25% share of the population being 65-year-olds and older, sourced from the Census Bureau's 2020 American Community Survey. GOBankingRates narrowed the list down even further by making sure the February 2022 median home value of each city was below the national average. From this list of cities, the two main factors used were (1) median home value, sourced from Zillow's February 2022 index; and (2) average annual temperature, sourced from Weather Base. All data compiled on April 11, 2022.

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