Knoxville, Tennessee
- Cost of living for seniors: 17.1% below the national average
- State’s tax rating for retirees: Tax-Friendly
The Volunteer State is an excellent choice for retiree nest eggs of any size. On top of its tax-friendly status, most parts of this state have below-average living costs across the board for its retired citizens.
This charming place is exceptionally affordable for retirees compared with bigger cities like Nashville, where the living costs among retired individuals are about the same as the rest of the nation’s average.
Housing costs for retirees in this city are the most significant factor bringing down costs, at nearly 30% below the national average. The city’s average home value is a mere $173,900 compared to $262,900 in Nashville and $229,000 throughout the country.
Clearly, Knoxville is one of the most affordable US cities for aging adults. But besides all this, being home to the University of Tennessee and the gateway to the Great Smoky Mountains, this charming place is also full of attractions and outdoor activities to fill your retirement years.
If you do decide to relocate during retirement, Amazon has an interesting read on real estate investing we think you’ll like. Check it out HERE!
Be sure to let us know in the comments which of these charming places you liked the most! And if you liked this article, we also highly recommend: High Utility Bills? Here Are 9 Hacks To Solve This Problem!
