15 Cheapest Places to Retire in the South

Given that the average retired household spends around $60,000 per year, finding an affordable place to put down roots in retirement can make all the difference to your budget. With a cheaper place to call home, you'll leave more room for other important expenses.

But where exactly are the best places to settle down in your golden years? Here are several towns with affordable housing, cheap everyday living expenses, and plenty of amenities that might come in handy when planning for retirement.

Editor's note: Data pulled from BestPlaces.

• Cost of living: 17.9% less expensive than the national average
• Population 65+: 17%
• Median home price: $173,700
• Median rent (1-bedroom): $630
• Estimated annual amount needed per year for a single person: $25,200

Nestled on the banks of the Tennessee River, Florence sits across from Muscle Shoals. Both towns boast a strong connection to the music industry, which has created a lively downtown.

Beyond the music scene, affordable housing options make it possible to keep costs manageable for retirees on a budget.

• Cost of living: 22.6% less expensive than the national average
• Population 65+: 12%
• Median home price: $183,800
• Median rent (1-bedroom): $800
• Estimated annual amount needed per year for a single person: $32,000

Although only 12% of Hattiesburg residents are over the age of 65, its relatively low costs and easy access to medical care could make it a great option for many retirees. And as home to the University of Southern Mississippi, you'll find a surprising number of cultural events on the calendar each year for a town of this size. That means you can stay busy during retirement.

• Cost of living: 29% less expensive than the national average
• Population 65+: 16%
• Median home price: $181,400
• Median rent (1-bedroom): $630
• Estimated annual amount needed per year for a single person: $25,200

As a nationally-recongized Main Street City, Waycross offers a small-town charm for new and old residents alike. With living expenses almost 30% lower than the national average, it's possible to stretch out your hard-earned retirement dollars in this quaint Southern town.

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• Cost of living: 19.6% less expensive than the national average
• Population 65+: 19%
• Median home price: $181,400
• Median rent (1-bedroom): $660
• Estimated annual amount needed per year for a single person: $26,400

Dothan sits in the Southeast corner of Alabama, near Florida, putting beach vacations within an easy drive — without the high costs of coastal living. For retirees on a tight budget, this is an affordable town with a full community events calendar, which might make it start to feel like home immediately.

• Cost of living: 23% less expensive than the national average
• Population 65+: 18%
• Median home price: $163,200
• Median rent (1-bedroom): $660
• Estimated annual amount needed per year for a single person: $26,400

As a 'UNESCO Creative City,' Paduch is home to an established arts scene with international acclaim. Naturally, this attracts a diverse crowd, making it the perfect place to make new friends in retirement.

• Cost of living: 28.5% less expensive than the national average
• Population 65+: 20%
• Median home price: $91,800
• Median rent (1-bedroom): $530
• Estimated annual amount needed per year for a single person: $21,200

The town sits in an idyllic mountain setting, offering cooler summers and plenty of small-town charm, and with 20% of the population aged 65 or older, Bluefield has a strong retiree presence. If you are seeking a relaxing change of pace on a budget, Bluefield could be a good choice.

• Cost of living: 14.1% less expensive than the national average
• Population 65+: 17%
• Median home price: $201,600
• Median rent (1-bedroom): $780
• Estimated annual amount needed per year for a single person: $31,200

Sitting in the serene Bayou State, Thibodaux offers residents easy access to beautiful cypress swamps. For nature lovers, birders, and anglers, this spot might feel like a dream come true. In town, you'll find local Cajun eateries to enjoy, and at just an hour from New Orleans, you'll also have relatively easy access to a major airport.

• Cost of living: 23.7% less expensive than the national average
• Population 65+: 18%
• Median home price: $181,400
• Median rent (1-bedroom): $830
• Estimated annual amount needed per year for a single person: $33,200

Macon's relatively affordable housing options make it easy to stick to a budget as a retiree. But Macon's charm goes far beyond affordable housing. Its extensive local history stretches back for hundreds of years, which means plenty of museums to explore around town.

• Cost of living: 15.9% less expensive than the national average
• Population 65+: 18%
• Median home price: $179,400
• Median rent (1-bedroom): $840
• Estimated annual amount needed per year for a single person: $33,600

Lake Charles sits near the western border of Louisiana. With annual expenses estimated at around $30,000, it's an affordable option compared to many other larger cities in Louisiana.

Another plus? Lake Charles offers a major food scene along with festivals throughout the year, including a massive Mardi Gras celebration.

• Cost of living: 29% less expensive than the national average
• Population 65+: 23%
• Median home price: $94,700
• Median rent (1-bedroom): $530
• Estimated annual amount needed per year for a single person: $21,200

With living expenses around 30% below the national average and over 20% of residents over 65, Union could offer the perfect blend for retirees. This historic town offers entertainment in the form of drag racing at the Union County Dragway, local parks, and a local farm and craft market.

• Cost of living: 28% less expensive than the national average
• Population 65+: 23%
• Median home price: $97,400
• Median rent (1-bedroom): $590
• Estimated annual amount needed per year for a single person: $23,600

Featuring a beautiful backdrop of the Appalachian Mountains, Richlands offers residents serene mountain vistas at an affordable price point. For retirees looking to save money on hobbies and get outside, the extensive hiking opportunities could make it the perfect fit.

• Cost of living: 20.8% less expensive than the national average
• Population 65+: 20%
• Median home price: $182,700
• Median rent (1-bedroom): $660
• Estimated annual amount needed per year for a single person: $26,400

Bristol holds the title of 'birthplace of country music,' and it lives up to this reputation by offering a lively music scene throughout its historic downtown. It's also home to the city's famous speedway for those seeking more adrenaline-packed entertainment options.

• Cost of living: 15.6% less expensive than the national average
• Population 65+: 17%
• Median home price: $153,000
• Median rent (1-bedroom): $700
• Estimated annual amount needed per year for a single person: $28,000

The relaxed pace makes Alexandria a practical and comfortable choice for your golden years. Tucked into Central Louisiana, you'll have quick access to the natural beauty of this 'sportsman's paradise.' With a local farmers' market and ample restaurants, you'll also have ample opportunities to get plugged into the food scene.

• Cost of living: 26.2% less expensive than the national average
• Population 65+: 15%
• Median home price: $123,700
• Median rent (1-bedroom): $570
• Estimated annual amount needed per year for a single person: $22,800

Laurel's current claim to fame is its connection to "Home Town," a popular home renovation show. But whether or not you've watched it on TV, you're still likely to be impressed by the relatively affordable housing costs. Plus, with a historic downtown and a handful of museums, you'll likely find plenty to enjoy here.

• Cost of living: 16.5% less expensive than the national average
• Population 65+: 23%
• Median home price: $231,700
• Median rent (1-bedroom): $650
• Estimated annual amount needed per year for a single person: $26,000

At the gates of Hot Springs National Park, nature lovers will find plenty of opportunities to get outside in retirement. When you retreat into town, you'll find plenty of highly-rated local restaurants and shops, and the town puts on several festivals each year.

According to AARP, over 200,000 retirees relocated in 2024, one of the top reasons being rising home prices and high mortgage interest rates. That's why opting to retire in an affordable local could make all the difference in your golden years.

Keeping your basic living expenses low could set you up for a stress-free retirement, but, if possible, make sure to visit before permanently moving to a new city.