Where you retire, and how much the housing costs are in that location, can mean the difference between a better or worse quality of life, advance or delay your retirement date, or just give you a bit of a cushion—or bite into your retirement savings.
(Related: 20 Best US Cities for Retirement: 2018)
So reminds a report from U.S. News, which decided to see which places offered the best opportunities for seniors in search of affordable housing. They settled on the following 10 as the best in that category:
- Pittsburgh, Pennsylvania │Median Home Price for Older Homeowners: $142,800 │ Median Rent for People 60+: $667/month
- Grand Rapids, Michigan │ Median Home Price for Older Homeowners: $171,100 │ Median Rent for People 60+: $769/month
- Nashville, Tennessee │ Median Home Price for Older Homeowners: $234,000 │ Median Rent for People 60+: $829/month
- San Antonio, Texas │ Median Home Price for Older Homeowners: $161,800 │ Median Rent for People 60+: $830/month
- Lakeland, Florida │ Median Home Price for Older Homeowners: $146,500 │ Median Rent for People 60+: $826/month
- El Paso, Texas │ Median Home Price for Older Homeowners: $107,600 │ Median Rent for People 60+: $621/month
- Daytona Beach, Florida │ Median Home Price for Older Homeowners: $185,300 │ Median Rent for People 60+: $924/month
- Palm Bay-Melbourne, Florida │ Median Home Price for Older Homeowners: $191,200 │ Median Rent for People 60+: $899/month
- Greenville, South Carolina │ Median Home Price for Older Homeowners: $157,400 │ Median Rent for People 60+: $699/month
- McAllen,Texas │ Median Home Price for Older Homeowners: $72,900 │ Median Rent for People 60+: $577/month
To make its determinations, U.S. News had a look at the facts and figures for the 100 largest metropolitan areas in the U.S. to see how they score on five different indexes, taking into account numerous factors from housing costs to cost of living to the job market and affordable health care.