The 15 Best Small Towns in the US for Retirement
When planning your retirement, you don't necessarily have to stay in a place where housing costs eat up a significant portion of your savings. The US has many small towns that financial advisors rarely mention. But it's precisely there that retirement savings are spent more slowly and the standard of living is higher, writes MSN.
These are unheralded destinations. Their advantage lies elsewhere: affordable housing, small, stable communities where people know each other, and the opportunity to live at your own pace.
Paducah, Kentucky
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Housing here is significantly cheaper than the national average. Real estate costs don't put a significant strain on the budget.
Situated at the confluence of the Tennessee and Ohio rivers, the city's urban sprawl is as important as its surroundings. Even after the large chain stores left, the city's downtown remains vibrant. It boasts the National Quilt Museum, which attracts visitors from around the world.
Huntsville, Alabama
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An example of a city that manages to keep costs moderate without compromising quality of life. Housing is approximately 15% cheaper than the national average.
In Alabama, a significant portion of retirement income is tax-exempt, including pensions and distributions from retirement accounts. Home to the U.S. Space Center and Rocket Museum, Huntsville has a long history with the space industry.
The city boasts excellent healthcare, a well-developed infrastructure, and a vibrant cultural scene. And all of this is quite affordable.
Las Vegas, Nevada
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Beyond the touristy side, Las Vegas is a city where people retire, too, just close to world-class entertainment. However, locals tend to stay away from the casinos, and that's part of their way of life.
Nevada has no state income tax or pension tax. Pensions, Social Security, and retirement account funds remain entirely in the hands of the individual.
Housing has become more expensive, but remains more affordable than in coastal cities. Red Cliffs, Lake Mead, and numerous hiking trails are nearby.
Summers are hot, so air conditioning costs are higher, but the climate is comfortable most of the year. At the same time, everyday goods and services are often cheaper than you'd expect in a large city.
Beckley, West Virginia
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The city isn't a popular destination, which is why it remains affordable. Housing here is very affordable, lower than the national average.
The state does not tax Social Security benefits and provides tax breaks for other retirement income. The Appalachian Mountains offer access to nature trails at no additional cost. Healthcare costs are also below average.
Joplin, Missouri
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Following the 2011 tornado, the city was almost completely rebuilt, resulting in more modern infrastructure and a more thoughtful urban environment.
The state exempts Social Security payments from taxation and reduces the tax burden on other retirement income. Housing is approximately 30% cheaper than the national average.
The city is located near the borders of several states.
Cedar City, Utah
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The city is located at an altitude of approximately 2 meters above sea level. Seasons vary here, but the climate is relatively mild. Five national parks are located nearby, including Zion and Bryce Canyon.
There is a tax burden, but overall it is lower than in most states. The city relies heavily on the university, which provides cultural life and healthcare.
The city is surrounded by cliffs, forests, and desert landscapes. So, outdoor recreation requires no preparation.
Cape Girardeau, Missouri
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The city is located on the Mississippi, but that doesn't make it a tourist attraction. The river is simply part of the everyday environment.
Housing is affordable, the state tax system is favorable for retirees, and the university supports cultural life. Healthcare costs are below average. The waterfront is perfect for leisurely strolls.
Jonesboro, Arkansas
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The state doesn't tax Social Security benefits and reduces the burden on other retirement income, making it cheaper to live here.
The city serves as a regional center but remains tranquil. The university provides cultural and medical services. More spacious housing is available here than in more expensive regions.
Cookeville, Tennessee
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The city is located between Nashville and Knoxville, about an hour and a half drive from each major city.
Tennessee offers tax-free retirement income. Housing is significantly cheaper than the national average. The university maintains a vibrant cultural environment, and there are natural recreational areas nearby.
Everyday expenses remain moderate, while access to infrastructure is maintained.
Pocatello, Idaho
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Idaho offers retirees a favorable environment: Social Security benefits are tax-free, and deductions apply to other income.
The city is located in a mountain valley. The university provides cultural and medical services. Life here is quiet, but not boring.
Grand Junction, Colorado
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Some pension income is taxable, but this is often offset by other benefits.
Housing here is cheaper than in most parts of Colorado. The city is located in a location that allows you to enjoy mountain views without paying resort prices. The region is known for its wine production, and the climate is dry and sunny.
Medical facilities serve a large region and operate without overburdening large cities.
Rapid City, South Dakota
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In South Dakota, retirement income is not taxed at all—not pensions, not Social Security benefits, and not funds from retirement accounts.
Rapid City takes advantage of this. The Black Hills, Mount Rushmore, and the Badlands are nearby. Housing and healthcare are readily available. The pace of life is relaxed.
Martinsburg, West Virginia
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The city's proximity to Washington, D.C., means airports and high-quality medical services are readily available, but housing remains affordable despite the city's downtown being modernized.
The Appalachian Mountains are nearby. Major cities are within easy reach.
Great Falls, Montana
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Montana does not tax Social Security benefits and reduces the burden on other retirement income.
Winters here are milder than you might think, and the rest of the seasons are quite comfortable. The Missouri River flows through the city, making for pleasant strolls. Housing is affordable, and the infrastructure is sufficient for a comfortable life.
Kearney, Nebraska
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Some pension income is taxed, but the cost of living here is quite low.
The city is located on the Platte River, a popular destination for migratory birds. The university supports cultural life. Healthcare is accessible, and the small community fosters lasting connections.
Murray, Kentucky
Photo: Murray, Kentucky
The city is located on Lake Kentucky. The state does not tax social security benefits and offers tax breaks for other income.
The university provides cultural and medical infrastructure, and the lake is a wonderful place for recreation.
Housing here is cheap.
To summarize, these areas have excellent basic infrastructure, and the cost of living is significantly lower than in large cities. Affordable housing, tax breaks, and reasonable expenses make it possible to extend your retirement savings over a longer period.
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