Jackson among top towns for low-cost retirement, U.S. News says

October 16, 2012

Banking & Finance

U.S. News & World Report is touting Jackson as the 4th best place in the nation to retire on under $40,000 a year. “Your retirement budget will stretch much further in Mississippi’s state capital than in many other places,” said the report in the most recent issue of the national magazine.

The article cites Jackson’s low-cost housing and plentiful entertainment and cultural opportunities.

Homeowners age 60 and older paid a median of $1,053 per month in housing costs, which dropped to $329 if they had paid off their mortgage, U.S. News reports. Renters age 60 and older paid a median of $624 per month in 2011, it adds. The article also notes Jackson is known for its music, especially gospel and blues, and also has a zoo, ballet, planetarium, and opera.

The best opportunity for retiring on under $40,000 a year?

That would be Albuquerque, N.M., followed by Augusta, Ga., and Columbia, S.C.

After Jackson comes Knoxville, Tenn., Little Rock, Ark., Louisville, Ky., Pittsburgh, St. Louis and San Antonio, Texas.

You want a place to retire where it’s always sunny?

That wouldn’t be Philadelphia. You’ll need to take the 3:10 to Yuma (Arizona) for that, U.S. News says.

Here’s the rundown on low-cost retirement locales in the United states.

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