The Best US Cities to Retire With a Monthly Income of $3,000

The Best US Cities to Retire With a Monthly Income of $3,000

Southern cities are attractive places to retire because of their warm climate, Southern hospitality, and attractions and amenities rooted in natural beauty and historical significance. However, many retirees are also drawn to the South because finding an affordable city on a fixed income is easier.

As of January 2024, the average monthly Social Security payment is $1,866 for a single person age 65 or older, according to the Social Security Administration. That's less than the average one-bedroom apartment in the United States as of March 2024, according to Rent.com, which is about $1,987.

Housing is one of many expenses you must consider, although it often takes up a significant portion of a person's monthly budget. Once you determine your living situation, creating a budget to cover your other monthly expenses may be easier.

In addition to affordability, it's also important to choose a southern city with a large population of 65 or older for social reasons and to know that you live in a city that supports its older residents. Here are the best Southern cities to retire if you have a smaller budget of $3,000 monthly.

Covington, Kentucky

Monthly expenses: $2,966

Percentage of population 65 and older: 14.2%

Liveability: 85

Covington, population 40,923, is livable at 85. The median household income is $53,770, and total monthly expenses are barely less than $3,000.

Robstown, Texas

Monthly expenses: $2,326

Percentage of population 65 years and older: 24.6%

Liveability: 79

The median household income in Robstown is low, about $35,491. Fortunately, monthly expenses are just $2,326, and the average monthly mortgage is the lowest at $545.

Cumberland, Maryland

Monthly expenses: $2,509

Percentage of population 65 years and older: 23.7%

Liveability: 78

In Cumberland, which has a population of 65 and older, the median household income is $45,915.

Pampa, Texas

Monthly expenses: $2,305

Percentage of population 65 and older: 16.1%

Liveability: 76

Pampa is one of six Texas cities on this list. It has the second-lowest average monthly mortgage payments, at $550 per month, and the median household income is about $53,000.

Brownsville, Texas

Monthly expenses: $2,838

Percentage of population 65 and over: 12.3%

Liveability: 79

Brownsville is a large city with a population of about 187,000 people. Such a large city received a livability score of 79.

Clarksburg, West Virginia

Monthly expenses: $2,666

Percentage of population 65 and over: 17.3%

Liveability: 82

In Clarksburg, not only do you have monthly expenses of less than $2,700, but you also have a high livability score and a low monthly mortgage of $665.

Danville, Virginia

Monthly expenses: $2,621

Percentage of population 65 and over: 21.1%

Liveability: 77

Danville's median household income of barely $42,000 may not be very high, but overall expenses are low, especially the monthly mortgage, at about $867.

Dumas, Texas

Monthly expenses: $2,804

Percentage of population 65 years and older: 11.7%

Liveability: 78

Dumas, Texas, has a population of 14,404 and a median household income of $65,379. The average home value is about $175,000.

Glasgow, Kentucky

Monthly expenses: $2,826

Percentage of population 65 years and older: 22.5%

Liveability: 76

Glasgow has more adults over 65 than many cities, at 22.5% of the population. The average household income is about $44,000.

Campbellsville, Kentucky

Monthly expenses: $2,834

Percentage of population 65 and over: 20.1%

Liveability: 76

In Campbellsville, the median home value is about $190,000, and the average monthly mortgage payment is close to half of the monthly expenses, at $1,139.

Hattiesburg, Mississippi

Monthly expenses: $2,978

Percentage of population 65 years and older: 12.8%

Liveability: 78

In Hattiesburg, retirees have to live on just under $3,000, of which $1,227 monthly goes toward mortgage payments.

Huntington, West Virginia

Monthly expenses: $2,747

Percentage of population 65 and over: 18.1%

Liveability: 81

Huntington retirees have a small family income of at most $40,000, even though their livability score is 81.

Russellville, Arkansas

Monthly expenses: $2,812

Percentage of population 65 and older: 12.0%

Liveability: 74

Russellville, with an approximate population of 29,000, has a moderate livability score of 74. However, the median household income is only $44,000.

Port Lavaca in Texas

Monthly expenses: $2,807

Percentage of population 65 years and older: 17.6%

Liveability: 76

In Port Lavaca, the average home value for retirees is about $179,000, and they pay a monthly mortgage payment of about $1,068.

Charleston, West Virginia

Monthly expenses: $2,938

Percentage of population 65 and over: 20.1%

Liveability: 82

Charleston has a lot going for retirees. With a large population of adults over 65, a high degree of livability, and a median household income of about $59,000 annually, it is a great place to retire.

Borger, Texas

Monthly expenses: $2,300

Percentage of population 65 and over: 15.6%

Liveability: 72

In Borger, the median home value doesn't even reach $100,000, but the monthly mortgage payments are also low, at about $556.

Baltimore, Maryland

Monthly expenses: $2,919

Percentage of population 65 and over: 14.8%

Liveability: 77

Big City Baltimore, with a population of nearly 585,000, has a strong livability score 77. The median household income is about $59,000 per year.

North Little Rock, Arkansas

Monthly expenses: $2,648

Percentage of population 65 years and older: 16.7%

Liveability: 73

Of the $2,648 retirees who pay monthly expenses in North Little Rock, $940 is mortgage payments.