You’re getting ready to retire, and you want to go to the beach — possibly every day. Since you don’t currently live in a coastal community, this means you’re going to need to pack up and move.
Learn: How Long $1 Million in Retirement Will Last in Every State
Read: Owe Money to the IRS? Most People Don’t Realize They Should Do This One Thing
Advertisement: High Yield Savings Offers
Living near the beach has been your dream for years. However, since you’ll be on a fixed income, you need to find an affordable spot.
In February, the median home listing price in the U.S. was $386,721, according to Redfin. You might be willing to pay to live by the beach, but you don’t want to stretch your budget too far.
Thankfully, there are plenty of beach towns that offer the best of both worlds — affordable living and a large population of seniors.
Choosing one of these retirement hot spots will offer plenty of opportunities to make friends while living within your means. Here’s a look at affordable U.S. beach towns for retirees, so you can start planning your new life on the beach.
Garden City, South Carolina
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.
Covering about 5.5 square miles, Garden City offers easy access to the beach from anywhere you choose to live. The median home selling price is $232,450, as of February 2023, which is notably less than the national average.
You’ll also enjoy South Carolina’s low taxes. This involves no tax on Social Security benefits, minimal property taxes and a notable retirement-income deduction from your state income tax.
Related: 10 Best Places in Kansas for a Couple To Live on Only a Social Security Check
Save: 10 Ways for Retirees To Cut Back on Expenses in 2024
Sponsored: Owe the IRS $10K or more? Schedule a FREE consultation to see if you qualify for tax relief.
Vero Beach, Florida
Situated along the Atlantic Ocean, Vero Beach, Florida, is a quiet coastal town where you can enjoy your golden years. In fact, it was named the second-best city in the U.S. for senior health by The Mesothelioma Center in 2023.
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. Florida is also one of nine states that doesn’t have an income tax or a tax on certain kinds of unearned income, meaning you’ll keep more of your money in your pocket.
A relatively small community, Vero Beach has a population of approximately 16,707. Nearly 30% of residents are age 65 and up, creating plenty of opportunities for socializing.