- When deciding on a place to retire, questions like weather, taxes, and housing affordability all need to be considered.
- We teamed up with Zillow to find US cities where homes are more affordable than the average price of a new car — roughly $37,000.
- Based on median home value, cities in the south and Midwest are the most affordable places to retire.
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Picking a place to retire boils down to a number of factors.
There’s weather and climate, retiree taxes, access to healthcare, cost of living, and housing affordability to consider. But depending on how much you’re saving for retirement, the latter might be the most important item to check off the list. Homes are getting more expensive — the median home value is currently $226,300, according to Zillow.
But that’s not to say more affordable homes don’t exist. We teamed up with Zillow to find some of the most affordable places to retire, where the median home value is less than the average cost of a new car (and therefore the car’s current value) — around $37,000, according to Kelley Blue Book. While a few of these cities are located in the Carolinas, most are sprinkled throughout the midwest.
Below, take a look at places you can retire in the US for less than the cost of a new car.
14. Eldorado, Illinois
Median home value: $35,900
Eldorado is located in Saline County, Illinois. Its cost of living is around 25% lower than the US average.
13. Blair, South Carolina
Median home value: $35,300
Located in Fairfield County, South Carolina, Blair is near the Broad River and is home to three different plantations.
12. Princeville, North Carolina
Median home value: $34,400
Princeville, North Carolina, was founded after the Civil War. As of 2010, it had a population of 2,082.
- Bruce Willis is selling his 11-bedroom Turks and Caicos compound for $33 million — and it could shatter the area’s real-estate record. Here’s a look inside.
- There’s a $1,000 price difference for a room in the ‘world’s most luxurious hotel’ and its 5-star sister hotel next door. I stayed in both to see how they compare — and the winner was clear
- Jeff Bezos is reportedly looking to buy an NYC apartment. Here’s a look at the 6 massive properties his family already owns across the US, from a sprawling Seattle estate to a set of historic NYC condos