Where are the cheapest places to retire in the US?: Report

The article originally appeared on Business Insider.

Many Americans preparing for retirement are wondering how far they can take their finances.

After all, most older adults live on meager incomes, and many rely on the increasingly endangered Social Security system. But for the workers who put in the time, a cheaper place to throw in the towel could be a solution to their economic problems. And of course, many older adults also face an increasing sense of loneliness, making a strong community even more important to a comfortable retirement.

Some states have more retirees than others; It may come as no surprise that nearly one-fifth of Florida is retired.

Share of each state that is retired

Indeed, Florida is home to some of the best places to retire, at least according to a new ranking from the real estate website Realtor.com. Realtor.com ranked the top 10 places to retire, looking at a combination of home prices, average ages and real estate listings that indicate a retiree-friendly area.

While Florida is on the rise, you don’t necessarily have to head south to find an ideal post-career destination; your affordable retirement might be on the Jersey Shore.

Top 10 retirement cities

Here are Realtor.com’s top 10 places to retire, what it costs to live in each place and what the places are best known for.

10. Whiting, New Jersey

Percentage of pension-friendly listings: 78%

Median age of residents: 69

Median list price: $179,000

Famous for: With by far the cheapest average list price of the top 10, Whiting, located in the Pine Barrens, is home to more than 33,000 residents, and its draws include abundant greenery, relatively low prices, and proximity to Philadelphia and New York City.

9. Laguna Woods, California

Laguna Woods, CA.

Laguna forest. Matt Gush via BI

Percentage of pension-friendly listings: 99%

Median age of residents: 75

Median list price: $409,900

Famous for: Orange County’s Laguna Woods has cheaper retirement-friendly offerings than the rest of the county, attracting beach and nature lovers due to its proximity to coastal towns like Newport Beach and Dana Point.

8. Sun City, California

Menifee, CA.

Menifee, California. Matt Gush via BI

Percentage of pension-friendly listings: 86%

Median age of residents: 58

Median list price: $370,000

Famous for: Sun City – a neighborhood in the city of Menifee in California’s Riverside County – is home to retirement facilities such as Pacifica Senior Living and is home to more than 40 social clubs.

7. Seal Beach, California

Seal beach

Seal beach. Kelly Bourquin via BI

Percentage of pension-friendly listings: 72%

Median age of residents: 61

Median list price: $369,000

Famous for: Located in Orange County, Seal Beach is known for its temperate weather that rarely rises above 90 degrees Fahrenheit, its proximity to Long Beach, and the wildlife at the Seal Beach National Wildlife Refuge. California has no Social Security taxes, which means retirees may be a little more inclined to spend money at the many restaurants along Main Street.

6. Monroe, New Jersey

Monroe, NJ.

Monroe. PhotosForTheFuture via BI

Percentage of pension-friendly listings: 70%

Median age of residents: 56

Median list price: $424,000

Famous for: About 15 miles east of Princeton, Monroe features apartments priced around $200,000 with quick access to Philadelphia, New York City, Atlantic City and state parks like Cheesequake State Park.

5. Manchester, New Jersey

Manchester, NJ.

Manchester. Andrew F. Kazmierski via BI

Percentage of pension-friendly listings: 83%

Median age of residents: 65

Median list price: $309,900

Famous for: Manchester, a township east of Philadelphia near the Atlantic Ocean, has relatively affordable housing for retirees in several 55-and-older communities, each with amenities such as clubhouses, indoor pools and fitness centers. Residents get all four seasons and plenty of open space, although taxes are quite high compared to other states.

4. The Villages, Florida

The Villages, Florida

The villages. Michael Warren/Getty Images via BI

Percentage of pension-friendly listings: 84%

Median age of residents: 71

Median list price: $315,000

Famous for: The Villages experienced a population growth of 4.7% between July 2022 and July 2023. The massive complex’s more than 50 golf courses, several restaurants and several town squares – all accessible for $195 per month – have driven this rapid growth among the over-55s. -above community.

3. Kingtown, Oregon

Tulatine River

Parts of King City border the Tualatin River. Justin Bartels via BI

Percentage of pension-friendly listings: 81%

Median age of residents: 63

Median list price: $375,000

Famous for: Twelve miles outside of downtown Portland, King City is located in the Tualatin Valley. It was first established as a retirement community in the 1960s, but is now considered a quiet suburb of Portland.

2. Green Valley, Arizona

Green Valley, AZ.

Green Valley. Manuela Durson via BI

Percentage of pension-friendly listings: 83%

Median age of residents: 74

Median list price: $349,900

Famous for: Green Valley has become a popular winter retreat destination. Just 25 miles from downtown Tucson, Green Valley has plenty to do: clubs, outings and concerts are all sponsored by the nonprofit Green Valley Recreation.

1. Sun City Center, Florida

Apollo Beach

Sun City Center is just a short drive from Apollo Beach. TimothyOLeary BI

Percentage of pension-friendly listings: 84%

Median age of residents: 71

Median list price: $315,000

Famous for: Located between Tampa and Sarasota, Sun City Center is essentially its own retirement community. There are numerous golf courses and indoor and outdoor swimming pools. During nighttime hours, it is legal to drive golf carts on the street.