Whether they’re selling a home and moving to a smaller apartment or switching from one lease to the next, seniors on a budget looking to rent their retirement home must choose their city carefully.
To help them do that, GOBankingRates analyzed the places where the average monthly Social Security check — $1,907 in January — is enough to pay the average rent, Zillow reports. The study also considered AreaVibes’ quality of life ratings (higher scores, near 100, are better) to weed out the cheap cities with a lower quality of life.
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Additionally, the study used data from Sperling’s Best Places and the Bureau of Labor Statistics to include average monthly expenses and cost of living (excluding housing).
Here are 20 cities where retirees should consider renting if they want to keep their landlord in check with their Social Security payment alone and still have something left over.
Why these cities stand out: A rental expert analyzes the data
As CEO of rental property management software platform TurboTenant, Seamus Nally analyzes rental markets for a living. When he examined the following list of rent-friendly cities for retirees on a budget, he immediately recognized their appeal.
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“Not every city is a bustling, densely populated metropolis,” Nally said. “That alone means the cost of living tends to be on the lower end. Generally speaking, the larger the population of a city, the more expensive it is to live there. So renters on a tight budget should consider cities that are less densely populated. Rent prices are lower there and people may be able to afford larger apartments or houses at lower prices, which is also quite beneficial. Retirees who want to stretch their fixed income as far as possible should consider cities like these.”
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Wausau, Wisconsin
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Population: 39,906
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Quality of life score: 89
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Average rent: $910.44
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Amount of remaining benefits: $949.79
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Average monthly expenses: $1,720.33
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Richmond, Indiana
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Population: 35,642
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Quality of life score: 81
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Average rent: $792.44
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Amount of remaining benefits: $1,067.79
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Average monthly expenses: 1,611.93 €
Chubbuck, Idaho
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Population: 15,638
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Quality of life score: 86
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Average rent: $950
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Amount of remaining benefits: $910.23
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Average monthly expenses: $1,740.37
Fergus Falls, Minnesota
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Population: 14,108
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Quality of life score: 80
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Average rent: $880
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Amount of remaining benefits: $980.23
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Average monthly expenses: $1,544.38
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Coralville, Iowa
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Population: 22,494
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Quality of life score: 88
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Average rent: $1,097.75
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Amount of remaining benefits: $762.48
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Average monthly expenses: $1,758.41
Mount Pleasant, Michigan
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Population: 21,826
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Quality of life score: 82
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Average rent: $911.67
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Amount of remaining benefits: $948.56
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Average monthly expenses: $1,671.13
Shorewood, Wisconsin
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Population: 13,707
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Quality of life score: 91
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Average rent: $1,197.50
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Amount of remaining benefits: $662.73
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Average monthly expenses: $1,859.58
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Stevens Point, Wisconsin
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Population: 25,549
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Quality of life score: 84
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Average rent: 1,016.67 USD
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Amount of remaining benefits: $843.56
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Average monthly expenses: 1,690.72 USD
Urbandale, Iowa
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Population: 45,591
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Quality of life score: 89
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Average rent: $1,062.50
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Amount of remaining benefits: $797.73
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Average monthly expenses: 1,893.82 USD
Fargo, North Dakota
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Population: 127,319
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Quality of life score: 84
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Average rent: $891.19
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Amount of remaining benefits: $969.04
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Average monthly expenses: $1,839.44
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San Antonio, Texas
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Population: 1,445,662
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Quality of life score: 81
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Average rent: 1,383.65 USD
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Amount of remaining benefits: $476.58
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Average monthly expenses: $1,802.65
Maplewood, Missouri
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Population: 8,205
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Quality of life score: 86
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Average rent: $1,039.44
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Amount of remaining benefits: $820.79
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Average monthly expenses: 1,781.00 €
Ames, Iowa
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Population: 66,265
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Quality of life score: 91
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Average rent: 1,045.78 USD
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Amount of remaining benefits: $814.45
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Average monthly expenses: $2,034.88
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Lynchburg, Virginia
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Population: 79,166
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Quality of life score: 90
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Average rent: 1,158.81 USD
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Amount of remaining benefits: $701.42
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Average monthly expenses: $1,909.68
Normal, Illinois
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Population: 52,920
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Quality of life score: 87
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Average rent: 1,154.61 USD
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Amount of remaining benefits: $705.62
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Average monthly expenses: $1,816.30
Fort Wayne, Indiana
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Population: 264,514
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Quality of life score: 83
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Average rent: $1,107.50
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Amount of remaining benefits: $752.73
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Average monthly expenses: 1,748.08 USD
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Beaver, Pennsylvania
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Population: 85
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Quality of life score: 4,407
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Average rent: $950
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Amount of remaining benefits: $910.23
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Average monthly expenses: $1,867.43
Cleveland Heights, Ohio
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Population: 45,002
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Quality of life score: 87
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Average rent: 1,346.95 €
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Amount of remaining benefits: $513.28
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Average monthly expenses: $1,683.67
Muncie, Indiana
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Population: 65,167
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Quality of life score: 81
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Average rent: $925.57
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Amount of remaining benefits: $934.66
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Average monthly expenses: $1,745.17
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Austin, Minnesota
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Population: 26,156
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Quality of life score: 77
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Average rent: $858.33
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Amount of remaining benefits: 1,001.90 USD
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Average monthly expenses: $1,600.78
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This article originally appeared on GOBankingRates.com: 20 Best Cities for Retirees on a Budget