Yahoo Finance 7 Best Texas Cities To Retire on $2,600 a Month
Where can you retire in Texas if your retirement budget is $2,500 a month?
Read: Retirement Planning: How Much the Average Person 65 and Older Spends Monthly
Learn: How To Get $340 a Year in Cash Back – for Things You Already Buy
GOBankingRates gathered a list of cities in Texas from the U.S. Census: American Consumer Survey and used Zillow Research Data to source the average rental cost in each city. The cost of living across grocery, healthcare, utilities and transportation were sourced from Sperling’s Best Places with expenditure costs added to the rental cost.
While the data GOBankingRates gathered showcases cities where the monthly costs are $2,500 a month or less, we also included four more cities from this data to this list where retirees can retire for under $2,600 a month.
These are the seven best Texas cities to retire on $2,600 a month.
Athens
Population: 12,719
Livability: 73
Monthly rent cost: $975
Expenditures monthly cost: $1,592
Total monthly cost (expenditures and rent): $2,567
See: 10 Ways for Retirees To Cut Back on Expenses in 2024
Also: 5 Things Gen X Should Consider Selling as They Approach Their Retirement Years
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Lufkin
Population: 34,264
Livability: 70
Monthly rent cost: $896
Expenditures monthly cost: $1,664
Total monthly cost (expenditures and rent): $2,560
Next: 10 Things Boomers Should Consider Selling in Retirement
Marshall
Population: 22,862
Livability: 67
Monthly rent cost: $942
Expenditures monthly cost: $1,602
Total monthly cost (expenditures and rent): $2,543
Port Arthur
Population: 55,757
Livability: 60
Monthly rent cost: $911
Expenditures monthly cost: $1,611
Total monthly cost (expenditures and rent): $2,522
Clute
Population: 10,722
Livability: 60
Monthly rent cost: $822
Expenditures monthly cost: $1,674
Total monthly cost (expenditures and rent): $2,497
Related: 5 Places To Retire That Are Similar To Florida But Way Cheaper
Weslaco
Population: 40,393
Livability: 71
Monthly rent cost: $848
Expenditures monthly cost: $1,587
Total monthly cost (expenditures and rent): $2,435
Bay City
Population: 17,918
Livability: 74
Monthly rent cost: $736
Expenditures monthly cost: $1,604
Total monthly cost (expenditures and rent): $2,340
Photo Disclaimer: Please note photos are for representational purposes only. As a result, some of the photos might not reflect the locations listed in this article.
Methodology: To find the Best Texas Cities to Retire on $2,500 a Month, GOBankingRates gathered a list of cities in Texas from the U.S. Census: American Consumer Survey and the average rental cost in each city sourced from Zillow Research Data: Zillow Observed Rental Index. Financial experts recommend not spending more than 50% of your income on housing, so the cities were filtered to cost $1,750 a month or less. For the remaining cities, the cost of living across grocery, healthcare, utilities, transportation and miscellaneous indexes were sourced from Sperling’s Best Places. Each index was multiplied by the average annual costs sourced from the Bureau of Labor Statistics: Consumer Expenditure Survey. The expenditure costs were added to the rental cost to find the cities where the monthly costs are $2,500 a month or less. For each city that qualifies, the livability score was found as supplemental information. All data was collected and is up-to-date as-of July 27th, 2023.
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This article originally appeared on GOBankingRates.com: 7 Best Texas Cities To Retire on $2,600 a Month
