15 Affordable Places To Retire in the South (#2 Might Surprise You)

Southern states can be good options for retirees who want warm weather and good food.

But what about affordability? Check out these cities that are great for retirees who want to enjoy a stress-free retirement .

Editor's note: All housing cost figures are for September 2024 and come from Redfin.

1. Savannah, Georgia

SeanPavonePhoto/Adobe

As you prepare for retirement , perhaps dreams of living in a city with a rich history will enter your mind. If so, Savannah can be a great choice.

The city is the oldest in Georgia and is well-known for its iconic squares and greenery.

In addition, Georgia doesn’t tax Social Security income and only partially taxes retirement account withdrawals and pensions. However, the median sale price for a home is on the higher side, at $353,000.

2. Myrtle Beach, South Carolina

Kevin Ruck/Adobe

Despite being on the water, Myrtle Beach is a surprisingly affordable place to live.

The median sale price for a home in Myrtle Beach is $265,000, compared to a national median price of $428,096.

3. Chattanooga, Tennessee

Christopher Boswell/Adobe

Chattanooga offers plenty of outdoor activities for active retirees, including strolling the city’s Riverwalk along the Tennessee River.

It’s also affordable, with a median sale price of $325,00.

Check Out: 8 genius hacks every American homeowner should know

4. Huntsville, Alabama

SeanPavonePhoto/Adobe

Huntsville is home to some out-of-this-world sites, such as the U.S. Space & Rocket Center and NASA’s Marshall Space Flight Center.

It also has homes with affordable prices. The city’s median sale price is $345,665.

5. Corpus Christi, Texas

SeanPavonePhoto/Adobe

You don’t have to live in Florida to take advantage of a great location on the Gulf Coast.

Check out Corpus Christi as a possible retirement location. The city’s median home sale price is $278,000, making it an affordable place to live.

6. Little Rock, Arkansas

SeanPavonePhoto/Adobe

The capital of Arkansas has plenty to offer retirees, including shops and restaurants in the River Market District or exploring the outdoors with activities near the Arkansas River.

According to Redfin, the cost of living is 5% lower than the national average. The median sale price for a home is just $245,000.

7. Gainesville, Florida

SeanPavonePhoto/Adobe

Gainesville is home to the University of Florida, which U.S. News & World Report ranked in a tie for No. 6 among all public colleges. Retirees can attend the school to pursue additional education.

The city is also one of the more affordable places for housing in Florida, with a median sale price of $264,900, compared to the state's median sale price of $402,900.

8. Athens, Georgia

Robert Hainer/Adobe

Athens is another college town and is home to the University of Georgia.

You can also afford to shop and eat in the city’s downtown shops and restaurants, as Athens has a cost of living 4% lower than the national average. The median sale price for a home is $350,000.

9. Greenville, South Carolina

digidreamgrafix/Adobe

Greenville is home to a variety of outdoor activities and nearby state parks. The cost of housing is a bit high, with a median sale price of $459,250.

However, South Carolina is considered tax-friendly for retirees. The state doesn’t tax Social Security income and only partially taxes retirement account withdrawals and pensions. In addition, property taxes are among the lowest in the country.

10. Augusta, Georgia

Kevin Ruck/Adobe

Augusta is home to golf’s Masters Tournament, but the city has plenty to offer for retirees, whether or not they like to hit the links.

The median sale price for a home is $221,000, making this a very affordable place to live.

11. Raleigh, North Carolina

Chansak Joe A./Adobe

With its Research Triangle, North Carolina is becoming a destination state for tech companies. The area, which includes Raleigh, is home to three major universities and more than 700 international companies.

Housing is a bit pricey, though, with a median sale price of $410,000.

12. The Villages, Florida

Ryan Tishken/Adobe

Some retirees prefer to live in an area specifically geared for them, and The Villages is one such place. The city is mainly made up of 55-plus retirement communities that cater to retirees.

It’s also affordable, with a median sale price for a home of $364,000. It helps that Florida is a tax-friendly state with no tax on income, Social Security, retirement account withdrawals, or pensions.

13. Baton Rouge, Louisiana

SeanPavonePhoto/Adobe

Baton Rouge has plenty of Southern charm, as well as museums and historic sites to keep you busy when you retire. It's also home to Louisiana State University.

Homes in the city have a median sale price of $205,000.

14. Richmond, Virginia

Kevin Ruck/Adobe

Richmond, the Virginia state capital, might be a good option if you want a Southern city with cooler weather in the fall and winter.

The city’s cost of living is 4% less than the national average, making it more affordable than in other parts of the state. The median sale price for a home is $387,00.

15. Biloxi, Mississippi

SeanPavonePhoto/Adone

Explore the amazing things the Gulf Coast has to offer in Biloxi — including plenty of delicious seafood and a unique nightlife with casinos.

The median sale price for a home in the city is $296,885. And if you're trying to get ahead financially , you'll be happy to learn that Mississippi doesn't tax Social Security, retirement account withdrawals, or pensions.

Bottom line

Whether you plan to retire early or want to work for many more years, the cities on this list offer affordable — and warm — places to spend your golden years.

So, weigh all the most important factors about retirement and decide whether an affordable place in the South is the right destination for you.

Money tips that can work for everyone

No matter what your bank account balance is, there's always an opportunity to optimize and improve your finances. Here's a quick checklist of things you can look at today.

Focus on paying off your debt. Debt can hold you back from making progress with your overall financial well-being. Aside from cutting expenses, there are tools that can help you pay off debt faster like balance transfer credit cards and debt counseling.

Earning extra income can give you breathing room. If finances are tight, earning some extra money to supplement your income can make a huge difference. A new job is one option to consider, but if you're not ready to make a big change or already retired, a part-time side job could be a better choice.

Cut your expenses. It sounds painful and so not fun, but it doesn't have to be. Take a look at your biggest expenses because that's where you'll probably find the biggest savings. For example, auto insurance rates have been soaring so shopping around for a new insurance company can be the fastest way to cut your bill. Also, look for ways to cut your grocery bill (despite rising inflation).