Best Places to Retire with $250K Savings The Beautiful & Livable: 30 Cities to Retire with $250K in Savings

By: Alex Freidmen

As you near the golden years of life, the dream of a peaceful retirement fuels a sense of comfort. You may have diligently saved for this stage of life, amassing $250,000 with the expectation that it will carry you through. But reality is not so simple. Along with annual Social Security earnings, averaging at $22,083.24, your nest egg may not provide the buffer you had hoped for.

Undeterred, GOBankingRates embarked on a quest to uncover places where retirees can relish expansive landscapes and embellished livability without exhausting their retirement savings too soon. We crunched the numbers, considering the costs of rent, groceries, healthcare, transportation, utilities, and other sundries, to ascertain how many years your savings could sustain you, if retired at 65.

The study revealed 30 cities, predominately in the Pacific Northwest and the Midwest, where you could bask in the natural splendor for numerous years — possibly even beyond the century mark in a select few locales.

If you’re yearning for a retirement drenched in comfort, take a peek at these cities; they might just be your next abode.

Shelby, North Carolina

  • Natural beauty index: 5.77
  • Livability score: 75
  • Annual expenditures: $32,475.97
  • Annual cost after Social Security: $10,392.73
  • Years to drawdown $250k savings: 24.06
  • Age savings run out (starting at 65): 89.06

Lakewood, Washington

  • Natural beauty index: 8.40
  • Livability score: 73
  • Annual expenditures: $40,811.16
  • Annual cost after Social Security: $18,727.92
  • Years to drawdown $250k savings: 13.35
  • Age savings run out (starting at 65): 78.35

Greensboro, North Carolina

  • Natural beauty index: 5.77
  • Livability score: 82
  • Annual expenditures: $35,831.62
  • Annual cost after Social Security: $13,748.38 $
  • Years to drawdown $250k savings: 18.18
  • Age savings run out (starting at 65): 83.18

Ashland, Ohio

  • Natural beauty index: 4.55
  • Livability score: 71
  • Annual expenditures: $29,223.66
  • Annual cost after Social Security: $7,140.42
  • Years to drawdown $250k savings: 35.01
  • Age savings run out (starting at 65): 100.01

Akron, Ohio

  • Natural beauty index: 4.55
  • Livability score: 81
  • Annual expenditures: $32,003.42
  • Annual cost after Social Security: $9,920.18
  • Years to drawdown $250k savings: 25.20
  • Age savings run out (starting at 65): 90.20





Best Retirement Cities in the US

Exploring Retirement Options in the US: A Comparative Analysis

Athens, Ohio

  • Scenic Beauty Index: 4.55
  • Livability Rating: 82
  • Annual Expenditures: $32,381.09
  • Annual Cost after Social Security: $10,297.85
  • Years to Exhaust $250k Savings: 24.28
  • Exhaustion Age (Starting at 65): 89.28

Parma, Ohio

  • Scenic Beauty Index: 4.55
  • Livability Rating: 80
  • Annual Expenditures: $31,581.93
  • Annual Cost after Social Security: $9,498.69
  • Years to Exhaust $250k Savings: 26.32
  • Exhaustion Age (Starting at 65): 91.32

Cuyahoga Falls, Ohio

  • Scenic Beauty Index: 4.55
  • Livability Rating: 82
  • Annual Expenditures: $32,310.46
  • Annual Cost after Social Security: $10,227.22
  • Years to Exhaust $250k Savings: 24.44
  • Exhaustion Age (Starting at 65): 89.44

Farmington, Utah

  • Scenic Beauty Index: 5.39
  • Livability Rating: 91
  • Annual Expenditures: $41,688.86
  • Annual Cost after Social Security: $19,605.62
  • Years to Exhaust $250k Savings: 12.75
  • Exhaustion Age (Starting at 65): 77.75

Clawson, Michigan

  • Scenic Beauty Index: 5.13
  • Livability Rating: 91
  • Annual Expenditures: $39,456.83
  • Annual Cost after Social Security: $17,373.59
  • Years to Exhaust $250k Savings: 14.39
  • Exhaustion Age (Starting at 65): 79.39

Cary, North Carolina

  • Scenic Beauty Index: 5.77
  • Livability Rating: 90
  • Annual Expenditures: $41,835.79
  • Annual Cost after Social Security: $19,752.55
  • Years to Exhaust $250k Savings: 12.66
  • Exhaustion Age (Starting at 65): 77.66

East Cleveland, Ohio

  • Scenic Beauty Index: 4.55
  • Livability Rating: 69
  • Annual Expenditures: $28,486.20
  • Annual Cost after Social Security: $6,402.96
  • Years to Exhaust $250k Savings: 39.04
  • Exhaustion Age (Starting at 65): 104.04

University Heights, Ohio

  • Scenic Beauty Index: 4.55
  • Livability Rating: 89
  • Annual Expenditures: $34,736.49
  • Annual Cost after Social Security: $12,653.25
  • Years to Exhaust $250k Savings: 19.76
  • Exhaustion Age (Starting at 65): 84.76

Logan, Utah

  • Scenic Beauty Index: 5.39
  • Livability Rating: 86
  • Annual Expenditures: $35,428.82
  • Annual Cost after Social Security: $13,345.58
  • Years to Exhaust $250k Savings: 18.73
  • Exhaustion Age (Starting at 65): 83.73





Top Retirement Cities for Investment

Investment-Worthy Retirement Cities

Exploring the Appeal of Pocatello, Idaho

  • Natural beauty index: 4.37
  • Livability score: 84
  • Annual expenditures: $31,644.00
  • Annual cost after Social Security: $9,560.76
  • Years to drawdown $250k savings: 26.15
  • Age savings run out (starting at 65): 91.15

Insight Into Steubenville, Ohio

  • Natural beauty index: 4.55
  • Livability score: 76
  • Annual expenditures: $29,622.24
  • Annual cost after Social Security: $7,539.00
  • Years to drawdown $250k savings: 33.16
  • Age savings run out (starting at 65): 98.16

Discovering the Charm of Tacoma, Washington

  • Natural beauty index: 8.40
  • Livability score: 77
  • Annual expenditures: $40,877.84
  • Annual cost after Social Security: $18,794.60 $
  • Years to drawdown $250k savings: 13.30
  • Age savings run out (starting at 65): 78.30

Assessing Mansfield, Ohio for Retirement Investment

  • Natural beauty index: 4.55
  • Livability score: 74
  • Annual expenditures: $29,033.39
  • Annual cost after Social Security: $6,950.15
  • Years to drawdown $250k savings: 35.97
  • Age savings run out (starting at 65): 100.97
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Moses Lake, Washington: A Desirable Retirement Locale

  • Natural beauty index: 8.40
  • Livability score: 74
  • Annual expenditures: $36,305.67
  • Annual cost after Social Security: $14,222.43
  • Years to drawdown $250k savings: 17.58
  • Age savings run out (starting at 65): 82.58

Unveiling the Allure of Milwaukie, Oregon

  • Natural beauty index: 6.82
  • Livability score: 88
  • Annual expenditures: $42,307.44
  • Annual cost after Social Security: $20,224.20
  • Years to drawdown $250k savings: 12.36
  • Age savings run out (starting at 65): 77.36

Understanding the Investment Potential of Youngstown, Ohio

  • Natural beauty index: 4.55
  • Livability score: 80
  • Annual expenditures: $29,686.55
  • Annual cost after Social Security: $7,603.31
  • Years to drawdown $250k savings: 32.88
  • Age savings run out (starting at 65): 97.88

Appraising Walla Walla, Washington as a Retirement Investment

  • Natural beauty index: 8.40
  • Livability score: 78
  • Annual expenditures: $37,277.04
  • Annual cost after Social Security: $15,193.80
  • Years to drawdown $250k savings: 16.45
  • Age savings run out (starting at 65): 81.45

Evaluating Spokane, Washington for Retirement Investment

  • Natural beauty index: 8.40
  • Livability score: 80
  • Annual expenditures: $37,701.03
  • Annual cost after Social Security: $15,617.79
  • Years to drawdown $250k savings: 16.01
  • Age savings run out (starting at 65): 81.01





Cheap and Beautiful Places to Retire

Discovering Cheap and Beautiful Retirement Spots

Ellensburg, Washington

  • Natural Beauty Index: 8.40
  • Livability Score: 80
  • Annual Expenditures: $37,556.79
  • Annual Cost after Social Security: $15,473.55
  • Years to Drawdown $250k Savings: 16.16
  • Age Savings Run Out (Starting at 65): 81.16

Yakima, Washington

  • Natural Beauty Index: 8.40
  • Livability Score: 78
  • Annual Expenditures: $34,394.98
  • Annual Cost after Social Security: $12,311.74
  • Years to Drawdown $250k Savings: 20.31
  • Age Savings Run Out (Starting at 65): 85.31

Cheney, Washington

  • Natural Beauty Index: 8.40
  • Livability Score: 78
  • Annual Expenditures: $33,825.57
  • Annual Cost after Social Security: 11,742.33 $
  • Years to Drawdown $250k Savings: 21.29
  • Age Savings Run Out (Starting at 65): 86.29

Spokane Valley, Washington

  • Natural Beauty Index: 8.40
  • Livability Score: 85
  • Annual Expenditures: $38,288.96
  • Annual Cost after Social Security: $16,205.72
  • Years to Drawdown $250k Savings: 15.43
  • Age Savings Run Out (Starting at 65): 80.43

Alliance, Ohio

  • Natural Beauty Index: 4.55
  • Lifability Score: 76
  • Annual Expenditures: $27,724.92
  • Annual Cost after Social Security: $5,641.68
  • Years to Drawdown $250k Savings: 44.31
  • Age Savings Run Out (Starting at 65): 109.31

Mount Pleasant, Michigan

  • Natural Beauty Index: 5.13
  • Livability Score: 82
  • Annual Expenditures: $28,942.01
  • Annual Cost after Social Security: $6,858.77
  • Years to Drawdown $250k Savings: 36.45
  • Age Savings Run Out (Starting at 65): 101.45

Pullman, Washington

  • Natural Beauty Index: 8.40
  • Livability Score: 85
  • Annual Expenditures: $34,531.73
  • Annual Cost after Social Security: $12,448.49
  • Years to Drawdown $250k Savings: 20.08
  • Age Savings Run Out (Starting at 65): 85.08

Methodology: To find cheap, beautiful places to retire with just $250,000 in savings, GOBankingRates analyzed U.S. cities across a variety of factors including: [1] grocery cost of living index, [2] healthcare cost of living index, [3] utilities cost of living index, [4] transportation cost of living index, and [5] miscellaneous cost of living index, all sourced from Sperling’s BestPlaces; [6] livability score sourced from AreaVibes; [7] average rent cost as sourced from Zillow Observed Rental Index; [8] average Social Security benefits as sourced from the Social Security Administration; [9] average expenditure costs as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey; and [10] the natural beauty index as sourced from the Booking.com Natural Beauty Index by state. The Natural beauty index is a measure of the natural attractions a place offers, measured by state parks, national parks, volcanoes, lakes, shoreline and mountains. The higher the number, the more natural beauty a location has. All locations under the average rating were removed, leaving only the places that rate more beautiful than average. The national average expenditure costs are multiplied by each city’s cost of living index for each expenditure category in order to find the average expenditure cost of living in each city. The average expenditure cost was added to the average rent to find the total cost of living in each city. Assuming a person retires at 65 and starts collecting Social Security benefits then, calculations were made to find how long $250,000 in savings would last. The average lifespan in the U.S. is currently 77.2 years old, so all locations where the drawdown ends before the person turns 77 were removed in order to show places a person can survive through the average lifespan. The natural beauty index was scored and weighted at 1.25, the Livability score was scored and weighted at 1.10, the annual total cost was scored and weighted at 1.00, and the years to drawdown savings was scored and weighted at 1.25. All scores were combined and sorted to show places that are beautiful and cheap to retire on savings of $250,000. All data was collected and is up to date as of Oct. 17, 2023.