Heres a look at average retirement incomes and how much people spend during their golden years. The overall cost of living is around 38% lower than in the United States, and rent is about 64% lower. Daytona Beach is a popular retirement spot, and a third of the population is age 60 or older. This involves no tax on Social Security benefits, minimal property taxes and a notable retirement-income deduction from your state income tax. The town is home to the Florida Institute of Technology and is only 30 miles east of Orlando, which means that residents have both beach vibes as well as the conveniences of a college town and a major city. And while the island itself is surrounded by waterways, it's not directly on the beach, which is what keeps the cost of living lower than other beach towns. For your next good read, how about a book that will help improve your financial future? Winter tends to be slower, quieter and wetter, though the Shores Acres State Park does an annual holiday lights display that is magnificent. Warning: The following list will provoke serious wanderlust! As of February 2023, homes had a median selling price of $435,000, making beach living cheaper than the national average. With a strong expat presence, this city is still definitely a Mexican city. People enjoy it.. Unsurprisingly, we're starting on Florida's Atlantic Coast in Palm Beach County. Belize offers one of the best retirement programs globally, only taxes on income earned in the country, and retains English as their official language, eliminating language barriers for many. The city is rapidly growing, which means that it won't stay affordable for long. For temporary residence, monthly income of about $2,100 is required, and for permanent residence, the minimum income is $2,700. Consider these tips when purchasing real estate in another country. And for many, life by the beach is that ideal. The day when, for most people, they can not answer to someone, be free, be their boss. But the affordability comes from the fact that Myrtle Beach does have a high crime rate, which has brought home prices down. People love to live here because of the beautiful beaches, the winter climate and the entertainment. The cost of living is low, the people are friendly, and the food is delicious making this country a great retirement destination. Plus, Melbourne is across the bay from the barrier island that has the more famous Cocoa Beach. Whether youre looking to move to the beach or simply visit on a budget, here are 25 of the most affordable beach towns in the U.S., from most to least expensive. Youll find Italians, Argentinians, French, Germans, Americans, Canadiansmany of whom have started businesses.. Located approximately 10 miles south of Myrtle Beach, Garden City, South Carolina, is a small resort town with a population of 10,600 and 38% of residents are 65 years old and up. Where to stay: Stunning Renovated Direct Beachfront. Seals actually do galumph around on the shore. That said, a low cost of living comes with a higher risk in general. and have not been previously reviewed, approved or endorsed by any other Portugal - Best Overall. But its residents love it for its small-town charm. Gozo is a separate island with many beautiful rock formations off the coast of Malta. It has 10 birding sites on the Great Texas Birding Trail and the planets sole migrating flock of over 265 whooping cranes, which passes through the Aransas Wildlife Refuge every winter. If you are someone who wants to live near the beach but aren't sure if you can afford it, there are lots of options around our country that will allow you to live in a beach town without breaking your retirement budget. The cost of living and crime, Read More Is It Good To Live In Miami Beach?Continue. The country faces the shores of both the Caribbean Sea and the Pacific Ocean, so there's plenty of beachfront to go around, in addition to rivers, lakes, and rainforests. Picture a stunning village green, historic homes and plenty of artsy culture. Specifically, she specializes in budgeting, debt repayment, savings and retirement. Several visa categories are available, and the most common Migrant Pensionado Visa requires a minimum monthly income of about $717. Pedas, Panama Naples is more expensive than many other parts of Florida. And as they shift into retirement mode,many are migrating toward the beach. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Since Florida doesnt have income tax or a tax on certain kinds of unearned income, this can offset the slightly higher than average but still affordable cost of living. (Getty . Here, we caught up with Haskins to get her take on three cheap, out-of-the-way beach retreats in Mexicos Yucatn Peninsula that provide the opportunity for a quieter, easier and much more affordable life. The city is about a 20-minute drive from the Pacific Ocean. - Affordability rank: #130. It has seen its fair share of destructive hurricanes over the decades. Many of the retired residents of Hyannis move into their former summer homes, but there are still plenty of boomers relocating to the area. Most people tend to buy property in one of the many beachside communities scattered north and south of Mahahual, where it is still possible to find a true oceanfront home or lot on which to build a home. Weve all had that fantasy of dropping everything and moving to a beach town. And, of course, the international airport offers convenient, low-cost fares to get to the States and Canada. According to International Living, expat Geoff Kent moved to Chelem with his wife and two young kids in 2018, and they are considering opening a small coffee shop or donut store. Unlike the heavily touristed beaches of the Riviera Maya farther north, the Costa Maya is unpopulated and set against a backdrop of lowland jungle for some 62 miles. It's less expensive than other coastal towns in Maryland because it doesn't actually have direct ocean access. The median home sale price was $340,000, as of February 2023, allowing you to live by the beach for less than the national average. Good quality healthcare is available at reasonable prices, and public transportation in many cities makes a car unnecessary. Lets find out what you need to consider when deciding between Capri and Anacapri! Hawaii is certainly known for its beach towns, but it is not known for any of them being affordable. Choose a minimalistic lifestyle, and a couple could retire here on as little as US$600 a month. It has turquoise waters and fantastic sunny weather, with inexpensive property and rich history. A suburb of Baltimore, Middle River has a cost of living that is slightly higher than the national average but less expensive than Maryland's average. The shallow and sedimentary conditions of the beach expose thousands of ancient shark teeth every day. Patricia Doherty is a writer who specializes in covering destinations, resorts, and cruises for. This college town is also home to the University of Southern Maine. The large community has various purchase restrictions, including a minimum age, and in some cases requires all-cash transactions; but to buy in another part of the desirable beach town would cost at least $700,000. Where to stay: Margaritaville Beach Hotel. In most places, U.S. dollars are accepted, and the Nicaraguan government offers tax incentives and encourages investment in the country. Best Parent Student Loans: Parent PLUS and Private, Halifax Health Medical Center of Daytona Beach. Mexico's low cost of living, climate, and affordable healthcare are attractions, with rents about 70% lower than in the United States. While that might rule out a comfortable life in expensive beach towns like Naples, Florida, and Hilton Head, South Carolina, that doesn't mean life by the ocean is out of reach for the average retiree. Cheap housing and proximity to Baltimore are what bring people to settle in Essex. Here's what to consider before you unretire. Brunswick was settled in the early 17th century and is dripping with colonial New England charm. A retirement haven, Venice, Florida, has a population of just over 26,000 61% are age 65 and up. Its home to lots of shopping, plenty of restaurants, nice golf courses, a great sailing scene, and beautiful beaches. Retiring to a quiet place by the beach is a dream for many Americans and others around the world. 1. The town is home to Bowdoin College, and over on Federal Street is where Harriet Beecher Stowe penned Uncle Tom's Cabin. The cost of living in Port Angeles is more expensive than the national average but is less expensive than other places in the state of Washington. Covering about 5.5 square miles, Garden City offers easy access to the beach from anywhere you choose to live. See how your savings stack up against your peers. The majority of beaches in Essex are off Rocky Point Beach and Park, which is open year-round for fishing, boating and picnicking. However, it's also saddled with the highest cost of living in the top 20, running nearly 10% above national averages. The cost of living is lower than many other European countries, and the culture is one in which elders are held with great respect. Mississippi's coast is truly beautiful, even though most travelers opt for Florida's Gulf Coast over the beaches in the other Southern states. Quit your job and live in paradise in three cheap. Retirees can take the grandkids on whale watching tours or picnic at one of the many parks or the beach. Every amenity anyone could possibly want or need can be found in Mrida, including sprawling shopping malls, excellent hospitals and even Costco, says Haskins. Golf, bird watching, camping and dining are among the other activities that visitors and residents enjoy on the Gulf Coast of Texas. Whether youre looking for a place thats quiet and relaxing or a place to catch some waves, Massachusetts has the perfect beach for you. It even has an airport and ferry terminal that connects the mainland to Marthas Vineyard and Nantucket. Health care services are provided by Halifax Health Medical Center of Daytona Beach and AdventHealth Daytona Beach. However, one of the reasons it may be more affordable than other beach towns is because its almost too popular with tourists, lacks arts and culture, and is on the seasonal hurricane path. The following countries are popular retirement destinations because of the cost of living, weather, and other benefits. No matter where in the world you live, there is no doubt a great beach retirement destination not too far from where you that wont leave you feeling too far away from your family and friends, and will no doubt open doors for new friendships and the opportunity to meet like-minded people. Youre getting ready to retire, and you want to go to the beach possibly every day. The hurricane risk and the rate of city growth and sprawl are also what keep housing costs low. Of course, if you want something more tranquil, you can just head over the bridge into Ocean Springs. The combination can work well for retirees who are looking for a place to retire near the beach on a budget but don't want to give up the amenities and services of living in a city. On average, residents pay more for goods, services, groceries and healthcare, but pay less for housing and transportation. According to Live and Invest Overseas, an organization dedicated to providing information to businesses moving abroad, a couple can comfortably rent an apartment in Ljubljana for about $720 a month. A bus ride to the nearby town of Progreso is about 50 cents. Second, it has a lack of some of the more tourist-friendly services that thrive on other islands, like malls, large cities and restaurants. Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. Sandwiched between the Kyrenia Mountains and the warm waters of the Mediterranean, Kyrenia features incredible seascapes. While insurance may be a bit dicier, that's likely to be a temporary issue, says Larry Snider, vice president of operations at Casago Property Management and Vacation Rentals. You save for retirement your whole life, you work, at some point, only knowing that you can retire and wont keep having to work, so it feels like, in some ways, its what you work towards for much of your life. Baja California, Acapulco, Cancun, Puerto Vallarta, Rosarita, and La Paz are a few well-known beach areas, and quiet fishing villages might attract retirees with lower costs and casual. There are plenty of beaches around the world (some even in the U.S.) that allow you to live your most stress-free life possible for a fraction of the cost you do now. NASCAR, headquartered in the area, holds several . When you think of retirement locales, Florida is probably the first state to come to mind and for good reason. Tucked between Vero Beach and Port St. Lucie, Fort Pierce is located on the bay behind the Atlantic-facing Hutchinson Island. Rather, here, the residential areas overlook the river. Travel + Leisure is published by Meredith Corporation under license from Travel + Leisure Co. Myrtle Beach attracts plenty of tourists with its SkyWheel, boardwalk and Atlantic Ocean beaches. It is barely above sea level, so most expats that live here tend to be very resilient and/or build very sturdy well-engineered homes on tall pillars, says Haskins. An old village on the Mallorca coast.. Brace yourself for cold, fog and damp conditions the majority of the year. There are, of course, many factors. These are just some of the key factors considered when picking a destination in which to retire. The city is so retiree-friendly, its even home to Latitude Margaritaville, a Jimmy Buffet-inspired 55-plus community. One of my favorite Florida destinations is Port St. Lucie. Leisure World, a gated retirement community located just 12 minutes from the sands of Seal Beach, offers some serious deals. TRAVEL + LEISURE is a registered trademark of Travel + Leisure Co., registered in the United States and other countries. For some, this means relocating to a smaller home or a Jennifer Taylor is a West Coast-based freelance writer with more than a decade of experience writing about anything and everything. Home of the Daytona 500 and so much more, Daytona Beach, Florida, offers 23 miles of white-sand beaches. No matter your motivations or whether its a combination of all of these, beaches are attractive places to live for many reasons. The median home price is $1,426 per month with a mortgage or $1,111 to rent. If you're interested in retiring near the ocean without the humidity of a tropical destination, consider Portland. 1. By clicking the 'Subscribe Now' button, you agree to our Terms of Use and Privacy Policy. Why It's Great:With its slower pace and rich culture, Chelem provides the opportunity for a simple life by the beach and is a favorite of expats doing everything from selling real estate to running restaurants. Just like many of you dreaming about a coastal dream life, we can make this a reality through information and inspiration! And now that the coronavirus pandemic makes it unwise to socialize except at a distance, its more important than ever to be able to settle into a forever home where youre free to enjoy the fresh air, long walks on the beach, and the soothing sound of crashing waves. Croatia offers good and affordable healthcare, with low living costs and a relatively easy point of entry visa-wise. With a population of just under 80,000 and a median age of 45, Melbourne is a smaller city with a young population. Many of them seek out single-story homes with attached garages right around the golf course, marina, and beaches. Most Affordable Beach Towns - 2022 Edition - SmartAsset Loading Top 50 Most Affordable Beach Towns Note: All figures shown are averages in each city. Or, at least, for many of us, we wish it were. Yes! The cost of living is low, and there are residency options for retirees requiring a monthly income of at least $600. The small towns on this list are some of the greatest beach towns on the East Coast. The powdery white-sand beaches are a paradise for sunbathersor those who seek shade under an umbrellaand shell seekers. Therefore, its not surprising that the city was named the top destination for snowbirds in 2021-22 by StorageCafe. Sunset Beach is one of the cheapest beachside towns for renters, particularly when compared with the median list price of its homes. Here are the top 10 budget-friendly spots that offer access to the ocean: 1. Over a third of the population is age 60 or older. Finally, in 2000, she said "not another winter in Omaha" and began looking for a place to live where the climate was better, life moved at a slower pace and she could do more of the things she had always wanted to do. Myrtle Beach has a wide variety of golf courses, including designs by Robert Trent Jones and Jack Nicklaus. The downsides, according to Haskins: no shopping, no healthcare facilities and during hurricane season the island is particularly vulnerable. Many Americans underestimate the amount of money theyll receive from Social Security. Get the kids off to school in the morning, help them with homework in the evening.Besides Chelem, there are several other communities along this stretch of coast with good-sized foreign populations, including Progreso, Chuburna, Chicxulub, Telchac Puerto and San Crisanto. These coastal cities provide convenient access to the beach and all the amenities retirees need. What makes Biloxi an amazing retirement destination? Located on the Pensacola Bay near the Gulf of Mexico, this popular beach retirement spot is an ideal place to enjoy Perdido Key, Pensacola Beach and the Gulf Islands National Seashore. Part of Mississippi's "Secret Coast," Ocean Springs is a beach town that features white, soft sand and a vibrant downtown, packed with boutiques, music and great restaurants. Located along the Gulf Coast and the Tampa Bay, Tampa has the powdery sand and swaying palm trees of a beach destination, as well as the skyscrapers and high-rises of a major metro area. Some towns do have their drawbacks, like hurricane risks or higher crime rates, but if you know where to look, you can uncover some truly spectacular hidden beach gems. Far from a sleepy beach town, Myrtle Beach has more than 1700 restaurants, 100 golf courses and 60 miles of beautiful beaches along the Grand Strand. Year-round homes start around $350,000 and reach nearly $4 million. Nearly 30% of residents are age 65 and up, creating plenty of opportunities for socializing. But it turns out, your beach-town dream may not be as far out of reach as you think. The Cost: In Chelem, a four-bedroom, two-bathroom home with a pool one block from the ocean rents for about $600 a month. The Cost:Because it is not as discovered as the Riviera Maya nor does it have nearly as many amenities (any major shopping or healthcare needs are done in the town of Chetumal, an hour away) prices for real estate are much lower than youll find along the Riviera Maya, says Haskins. Hampton and Newport sit to the north of the Chesapeake Bay Bridge and Tunnel. Read on to see where the best places are, what makes them good places to retire, and why exactly retiring at the beach is so popular. Copyright 2022 Travel + Leisure Co. All Rights Reserved. Located on the Gulf of Mexico, the city offers plenty of entertainment, including concerts in the park, festivals and community theater. Source: SmartAsset 2022 Study Get the data Embed Average income for population 65+: $70,291. Historic Lewes has a more natural, small-town feel and (slightly) lower home prices. This lifelong build-up can leave one feeling like theres a lot of pressure to do retirement right: to pick the right place to retire, the right hobbies, surrounded by the right people. And it turns out, they share some common features that are particularly attractive for folks who are no longer congregating by the water cooler. Welcome to Coastal Dream Life, a website dedicated to helping you achieve your dreams of white sandy beaches and fresh ocean breezes in style. Many people downsize in retirement as a way to cut back on expenses and make their lives simpler. Theres really just one town to speak of: Only a small area on the western end of the island has been developed. Retirees have their pick of beachfront locations in Thailand, including a number of tropical islands. Not far from the energy and vibrancy of Seattle, Port Angeles is one of America's great small towns. Its proximity to Mrida makes it extra appealing. With sublime beaches and a well-established expat community (20% of the islands permanent population), Phuket offers pristine beaches and a warm, tropical climate. Myrtle Beach is one of America's favorite vacation getaways. Coos Bay is no exception when it comes to dramatic views. Vietnam offers one of the lowest costs of living in the world. It is safe, with a strong sense of community and an excellent medical system. Wilmington Island's position between Savannah and the beach-facing islands is what makes it such a great place to live. With exceptional natural beauty and a large variety of biodiversity, the country is rapidly developing while still offering a lower cost of living. The laid-back city boasts a restaurant- and shop-lined Main Street, which spills out to a nice pier and beach. Soak up the sun when you retire to one of these affordable destinations. But a remote beach area isn't always the right fit for retirees, who also need access to amenities and services, such as quality health care and transportation options. Sugar Sands - Riviera Beach, FL Low $200s - High $600s Sugar Sands is a 55+ condominium community located right off the Intracoastal Waterway. 3. If youre wondering what attracts people to the seaside on a more permanent basis, here are a few reasons. There are also many retirement communities in the area, says Andrew Latenko, RV travel blogger at RV Camp Gear. It is equidistant from the historic city of Savannah as it is to the spectacular beaches and seclusion of Tybee Island. Melbourne is an affordable beach town for retirement. Theyre gorgeous stretches of coast, to be sure. According to United Van Lines National Movers Study, in 2018, 39% of the retirees they moved had their GPS systems locked on to Florida. Retirees can get into active adult communities like Bay Crossing in a $239,000 two-bedroom condo all the way up to a fully kitted-out four-bedroom for $620,000. The shoreline of Biloxi is flanked with massive oceanfront casinos, which are the major draw to this coastal community. Daytona Beach has a population of nearly 75,000 and 20% of people are age 65 and up. Please try again later. After trying out Ecuador, Haskins and her husband moved to Mexico in late 2002. https://www.wearejust.co.uk/news/5-reasons-to-retire-to-the-seaside, https://www.liveandinvestoverseas.com/best-places-to-retire/, https://www.thrillist.com/travel/nation/cheapest-beach-cities-to-live-in-world, https://internationalliving.com/the-best-places-to-retire/, https://www.forbes.com/sites/williampbarrett/2019/11/27/the-best-places-to-retire-abroad-in-2020/. Residents love to live here because of the climate and water recreation. There are plenty of options for nature lovers, and with English being commonly spoken, this is a fabulous destination for retirement. But this is not a sleepy seaside community. Costa Rica Costa Rica tops this year's list for its low cost of living (around $2,000 a month for a. Florida is also one of nine states that doesnt have an income tax or a tax on certain kinds of unearned income, meaning youll keep more of your money in your pocket. Homeowners pay a median of $1,485 per month to live in Tampa, and the median rent is $1,160 monthly. Since earning her MBA, personal finance has been her favorite topic, as shes passionate about writing stories that educate, inform and empower. Sara Ventiera is a journalist based in New York City and Los Angeles. They are similar but also have several differences that make them distinct. It all depends on the kind of lifestyle you are after., READ MORE: Cruise Ship Tips: 9 Insider Secrets From A Trailblazing Captain. Part of the states southern outer banks, Cape Carteret is located in the Western Crystal Coast region, known for stunning beaches and tranquil living. How the National Debt Hits Your Wallet Every Day, CD Rates Today: April 27 Special 10-Month Term with 5.25% APY. The city is a UNESCO world heritage site, and the monthly cost of living can be as low as between $500-1000. It offers city living on the shores of clear swimmable waters, with eleven miles of beaches to enjoy on its doorstep. Jacksonville boasts 22 miles of white-sand beaches along the Atlantic coast. I have been drawn to the ocean and the coastal lifestyle my whole life. Located at the mouth of the Thames River, this seaport citythe second-largest whaling port in the world back in the Moby Dick daysboasts a historic waterfront district that has become the creative hub of the city with art, music, and design venues, unique boutiques, and more than 30 restaurants. Swimming with these gentle giants is an experience not to be missed, says Haskins. Several barrier islands separate the Sarasota Bay from the Gulf of Mexico. Affordable lodging and an energetic nightlife make Biloxi a major vacation destination for the surrounding area. Brunswick is one of the best places to live in the state. The Algarve, with year-round sunshine, excellent medical facilities, a low cost and high standard of living, easy access to Europe and the world, and a good infrastructure, is an obvious choice. The Qualified Retired Person Residency Program, an easy way to establish residency, requires income of at least $24,000 annually along with a background and medical check. With coffee shops, great restaurants, cafes, a marina and a thriving Arts District, Bremerton is much more than just a beach town across the sound from Seattle. Fresh air, seafood, warm water, fishing, or other water sports, as well as beach walks, are available on your doorstep; you need to find the right place to settle. Where It's Located:A former fishing village, Chelem is located on Mexicos Gulf Coast, about a 40-minute drive from the city ofMrida(which was just named by Best Small City in the World by Conde Nast Traveler). Youll also enjoy South Carolinas low taxes. Because it is far from Cancn's international airport, though, you wont find big resorts or the thumping nightclubs and upscale restaurants. READ MORE: 27 Easy Ways To Make Money Online. Pensacola scores high marks for desirability, with many people age 45 and older expressing an interest in moving to the area. I'm a Self-Made Millionaire: These Are the 6 Investments Gen X women are now between the ages of 43 and 58, which means retirement is on the not-too-distant horizon for some of them. With its ample coastline, there is no shortage of great beach towns to choose from, and the cost of living is low. While real estate over in Ocean City may be much more expensive, Ocean Pines is much more affordable. Massachusetts is home to 1,519 miles of coastline, which means plenty of beaches to choose from. With borders on the Gulf of Mexico in the east and the Pacific Ocean in the west, Mexico offers around 6,000 miles of coastline. Where to stay: Hibiscus Elegant Midcentury Beachside House. Since you dont currently live in a coastal community, this means youre going to need to pack up and move. 3 Ways To Recession-Proof Your Retirement. In total, a family of four can live on about $1,800 a month. Most have expat communities, reasonably priced healthcare, affordable homes, and residency options. Bank account requirements are about $36,000 and $149,000 respectively. Median rent: $1,296. Many locals also take whale watching tours by boat, view masterpieces at Coos Art Museum, swing a 9-iron, or watch the pros play golf at the Bandon Dunes Resort, home to the Curtis Cup. Mahahual has a hip-but-rustic feel, says Haskins. This year's list of the 25 Best Places to Retire highlights places with affordable homes, low taxes and high ratings for happiness and health care quality. Today, what brings visitors to Port Arthur are the history, wildlife and beaches. But while it may be one of America's more affordable beach towns, rising costs are starting to become a deterrent. We know people who spend far more and others that spend less, says Haskins. Lewes and nearby Rehoboth Beach have become one of the hottest LGBTQ retirement destinations on the East Coast. The natural harbor that it sits on is one of the best ports along the entire eastern seaboard. If you're interested in retiring near the ocean without the humidity of a tropical destination, consider Portland. From spring to autumn the Atlantic Coast is humming with activity, and the water is always churning with swimmers, jet skiers and parasailers. Located about halfway between Miami and Orlando, Port St. Lucie is more laid back and affordable than these larger cities. Highlight: For those who love the boardwalk and casinos. Being the third safest country in the world with the highest density of blue flag beaches, this country has a low cost of living, tax incentives, and easy residency for expats. Port Arthur was founded in the late 19th century and, at one time, was the center of the largest oil refinery in the world. A recent U.S. News analysis compared the 150 largest metropolitan areas in the United States as potential retirement spots, including data on housing affordability, happiness, desirability, retiree taxes, the job market and access to quality health care.