25 Best Small Towns To Retire Where $100K in Savings Will Last You the Longest
Retirement experts recommend a variety of ways to figure out how much you need saved for retirement, ranging from 10 times your pre-retirement earnings to several million dollars. It can be challenging to know the exact amount — and even harder to save it up.
Find Out: How Can You Withdraw Money From a Bank Account? 3 Ways To Know
Check Out: One Smart Way To Grow Your Retirement Savings in 2024
For people who don’t have a lot of savings, you’ll want to find the most affordable towns to plant yourself in your golden years. Small towns often add a strong sense of community that can help you connect to the things that matter most without money.
To find the 25 best small towns where $100,000 in savings lasts longest, GOBankingRates analyzed small towns across the country that have populations between 1,000 and 10,000 residents, gleaned additional data on rental costs and other expenditures and scored livability via AreaVibes. (See the full methodology at the end of this gallery.)
Deducting the average annual Social Security benefit ($22,344 as of February) from the average cost of living in each city, GOBankingRates also determined how long $100,000 in savings would last.
Read on to find out where $100,000 in savings will last you the longest. And see how far a $100,000 salary foes in 50 big cities.
25. Tea, South Dakota
Total population: 5,922
Percent of the population 65 and over: 5.99%
Total cost of living per year: $36,374
There’s a lot going for Tea, where the median household income is $99,153 per year and the livability score is 79. But you’ll get just seven years out of $100,000 in savings.
Pictured: Lead, South Dakota
Learn More: Check Your $2 Bills — They Could Be Worth a Ton
Discover More: Owe Money to the IRS? Most People Don’t Realize They Should Do This One Thing
Sponsored: Credit card debt keeping you up at night? Find out if you can reduce your debt with these 3 steps
24. Kemah, Texas
Total population: 1,945
Percent of the population 65 and over: 15.22%
Total cost of living per year: $36,311
In a town as small as Kemah, which sits on Galveston Bay, more than 15% of the population being 65 and over feels like even more. The median household income is $93,021 per year, and the livability score is 71. Your $100,000 in savings will be gone in 7.2 years, however.
Pictured: El Paso
Find Out: I’m a Bank Teller: 3 Times You Should Never Ask For $100 Bills at the Bank
23. Fort Mitchell, Kentucky
Total population: 8,667
Percent of the population 65 and over: 10.44%
Total cost of living per year: $36,301
The median household income here is $74,830 per year, and the livability is very high, at 86. But your $100,000 in savings will last just 7.2 years.
Pictured: Rivertown, Kentucky
22. Rawlins, Wyoming
Total population: 8,287
Percent of the population 65 and over: 13.72%
Total cost of living per year: $35,766
Rawlins has a lower percentage of seniors and a lower livability score of 68. Your $100,000 in savings will last about 7.5 years.
Pictured: Cody, Wyoming
21. Jersey Village, Texas
Total population: 7,763
Percent of the population 65 and over: 21.09%
Total cost of living per year: $35,170
Jersey Village is a suburb of Houston. With a higher percentage of seniors in Jersey Village and a median household income of $88,101 per year, it’s a solid place to live. However, $100,000 in savings will last not quite eight years.
Check Out: 7 Things To Know If You Withdraw More Than $10,000 From Your Checking Account
Pictured: Houston
20. Whitehouse, Texas
Total population: 8,512
Percent of the population 65 and over: 12.68%
Total cost of living per year: $35,160
Whitehouse, about 120 miles southeast of Dallas, has a solid median household income of nearly $73,000 per year and a livability score of 79. However, your $100,000 in savings will just under eight years.
Pictured: Dallas
19. Central, South Carolina
Total population: 5,272
Percent of the population 65 and over: 6.41%
Total cost of living per year: $34,158
In Central, the average median household income is quite low, at just under $46,000 per year. The livability score is only 61 and it has an extremely low percentage of seniors. Your $100,000 in savings will last about 8.5 years here.
Pictured: Fort Mill, South Carolina
18. Lindale, Texas
Total population: 6,174
Percent of the population 65 and over:15.18%
Total cost of living per year: $33,808
Lindale is about 90 miles east of Dallas, just north of Tyler. In Lindale, the median household income is on the higher end, at $79,557 per year, and it has a solid livability score of 75. It will take 8.7 years to go through $100,000 in savings.
Read Next: Warren Buffett’s Parenting Rule: The Key to Raising Money-Savvy Kids
Pictured: Dallas
17. Girard, Ohio
Total population: 9,565
Percent of the population 65 and over: 18.24%
Total cost of living per year: $33,739
Girard is about 70 miles southeast of Cleveland, near the Pennsylvania border. The median household income in Girard is on the lower end of these cities, at just over $43,500 per year, with a modest livability of 65, as well. Your $100,000 in savings will last close to nine years.
Pictured: Oxford, Ohio
16. Maplewood, Missouri
Total population: 8,205
Percent of the population 65 and over: 8.48%
Total cost of living per year: $33,722
In Maplewood, a suburb of St. Louis, the median household income is only about $59,000 per year, but the livability is very high, at 86. You’ll get about nine years out of $100,000 in savings.
Pictured: St. Louis
15. Oakmont, Pennsylvania
Total population: 6,734
Percent of the population 65 and over: 24.84%
Total cost of living per year: $33,659
Oakmont is a suburb of Pittsburgh. The median household income in Oakmont is on the higher side, at $82,012 per year. The livability is also quite high, at 81. You can live on $100,000 for nearly nine years.
Pictured: York, Pennsylvania
For You: Suze Orman: 3 Ways To Prepare for the Upcoming Financial Pandemic
14. Willoughby Hills, Ohio
Total population: 9,972
Percent of the population 65 and over: 18.55%
Total cost of living per year: $33,255
Expect to get over nine years out of $100,000 in savings in Willoughby Hills, a suburb of Cleveland. The livability score is 71.
Pictured: Dayton, Ohio
13. Forestdale, Alabama
Total population: 9,138
Percent of the population 65 and over: 21.89%
Total cost of living per year: $33,224
Here, the average monthly expenditures are just over $2,768 per month, and the median household income is almost $63,000. You’ll get nine years out of $100,000 savings.
Pictured: Union Springs, Alabama
12. Alamo Heights, Texas
Total population: 7,417
Percent of the population 65 and over: 16.83%
Total cost of living per year: $32,477
Alamo Heights, a suburb of San Antonio, has the highest median income on this list, by a mile, at nearly $150,000 per year. Your $100,000 savings will last 10 years, and people here can probably afford to save more.
Learn More: 8 Rare Coins Worth Millions That Are Highly Coveted by Coin Collectors
Pictured: San Antonio, Texas
11. Carnegie, Pennsylvania
Total population: 8,067
Percent of the population 65 and over: 20.54%
Total cost of living per year: $32,400
With a sizable percentage of the population aged 65 and over and a strong livability score of 79, you’ll at least enjoy the 10 years you live on your $100,000 in Carnegie.
10. Knob Noster, Missouri
Total population: 2,793
Percent of the population 65 and over: 10.99%
Total cost of living per year: $32,113
The livability is good (73) in the quirkily named Knob Noster, which is between St. Louis and Kansas City, and your $100,000 will last about 10 years.
Pictured: Columbia, Missouri
9. Laughlin, Nevada
Total population: 8,184
Percent of the population 65 and over: 41.70%
Total cost of living per year: $32,071
You’ll get over 10 years out of $100,000 in Laughlin, and you’ll be in good company. Laughlin has the highest percentage of seniors on this list, at almost 42% of the population.
Explore More: 10 of the Most Valuable Pennies
8. Waynesville, Missouri
Total population: 5,372
Percent of the population 65 and over: 19.38%
Total cost of living per year: $31,437
Waynesville has a decent percentage of seniors, at close to 20% of the population, though its livability score isn’t super high, at 61. You’ll get 11 years out of $100,000 in savings here.
Pictured: Sedalia, Missouri
7. Benton Harbor, Michigan
Total population: 9,101
Percent of the population 65 and over: 9.15%
Total cost of living per year: $31,380
Benton Harbor, which sits on Lake Michigan, does not have a great livability score, just 55, which probably explains its very low percentage of seniors. Your $100,000 would last about 11 years here.
Pictured: Ann Arbor, Michigan
6. Oak Grove, Kentucky
Total population: 7,895
Percent of the population 65 and over: 3.20%
Total cost of living per year: $30,912
Oak Grove has a low number of seniors and one of the lowest livability scores on the list, at 58. Maybe after the 12 years you’ll get out of $100,000, you might consider moving somewhere else.
Be Aware: Warren Buffett: 6 Best Pieces of Money Advice for the Middle Class
Pictured: Frankfurt, Kentucky
5. Wahpeton, North Dakota
Total population: 7,983
Percent of the population 65 and over: 18.44%
Total cost of living per year: $30,404
Wahpeton is right on the Minnesota border and just 200 miles from Indianapolis. With a monthly average expenditure of over $2,500, you can expect to get over 12 years out of $100,000. Livability here is not good, however, at just 64.
Pictured: North Dakota Enchanted Highway
4. Big Rapids, Michigan
Total population: 7,915
Percent of the population 65 and over: 8.39%
Total cost of living per year: $30,382
It will take you 12.4 years to spend down $100,000 in Big Rapids, which is about an hour north of Grand Rapids by car. But you’ll enjoy doing it, with a 76 livability score.
Pictured: Holland, Michigan
3. Millvale, Pennsylvania
Total population: 3,377
Percent of the population 65 and over: 15.19%
Total cost of living per year: $29,231
With a median household income of just over 59,000, you’ll have about 14.5 years to live on $100,000 in this Pittsburgh suburb. The livability score in Millvale is a stunning 84.
Learn More: 9 Bills Frugal People Don’t Pay
Pictured: Pittsburgh
2. Windcrest, Texas
Total population: 5,825
Percent of the population 65 and over: 32.34%
Total cost of living per year: $29,198
With total monthly expenditures of over $2,300, but a higher median household income of nearly $86,000, your $100,000 will last 14.6 years in Windcrest, a suburb of San Antonio.
Pictured: San Antonio, Texas
1. Ambridge, Pennsylvania
Total population: 6,937
Percent of the population 65 and over: 14.37%
Total cost of living per year: $27,881
Ambridge, a suburb of Pittsburgh, takes the No. 1 spot on this list as you could live here on $100,000 savings for 18 years. The median household income is $46,059, but it has a high livability score of 76.
Pictured: Pittsburgh
Methodology: For this study, GOBankingRates analyzed small towns across the country to find the best places to retire with $100,000 in savings. First GOBankingRates limited small towns to places that have [1] a population quantity between 1,000 and 10,000 residents, as sourced from the U.S. Census American Community Survey. For each city on the list, the [2] average rental cost was found, as sourced from Zillow Observed Rental Index. For all remaining cities on the list, the cost-of-living index was found for multiple expenditures, including [3] grocery cost-of-living index, [4] healthcare cost-of-living index, [5] utilities cost-of-living index, [6] transportation cost-of-living index, [7] miscellaneous cost-of-living index, all sourced from Sperling’s BestPlaces. Using the [8] national average expenditure costs for residents aged 65 and over, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, and combining the average expenditure costs with the average rental cost gives the monthly and annual total cost of living. The average Social Security benefit was sourced from the Social Security Administration’s Monthly Statistical Snapshot. Using the annual cost of living, the Social Security income and assuming $100,000 in savings, a yearly drawdown was calculated. The yearly drawdown was sorted to show the places that someone with $100,000 in savings can live the longest. For the remaining places, the livability index was sourced from AreaVibes as supplemental information. All data was collected on and is up to date as of March 13, 2024.
More From GOBankingRates
How Much Does the Average Middle-Class Person Have in Savings?
5 Reasons You Should Consider an Annuity For Your Retirement Savings
This article originally appeared on GOBankingRates.com: 25 Best Small Towns To Retire Where $100K in Savings Will Last You the Longest
