News & Trending Mortgage & Loans News

9 Charming Beach Towns Retirees Can Live on a Monthly Budget of $1,500 or Less

Discover these 9 beach towns where you can live out your retirement comfortably.

By Roxana Loomes

Edited by Lauren Wellbank

Updated March 9, 2025

Are you nervous about planning your retirement budget after discovering you'll only have around $1,500 a month to spend on living expenses?

While $1,500 is less than the average Social Security monthly payment, it is enough to comfortably retire on… if you can find the right area, that is.

An annual income of just $18,000 may seem smaller than what most people consider ideal, but there are some beach towns out there that make retiring on a small budget possible.

Let's discover these beachy havens where you can enjoy a stress-free retirement with your $1,500 a month budget.

Steal this billionaire wealth-building technique

The ultra-rich have also been investing in art from big names like Picasso and Bansky for centuries. And it's for a good reason: Contemporary art prices have outpaced the S&P 500 by 136% over the last 27 years.

A new company called Masterworks is now allowing everyday investors to get in on this type of previously-exclusive investment. You can buy a small slice of $1-$30 million paintings from iconic artists, all without needing any art expertise.

If you have at least $10k to invest and are ready to explore diversifying beyond stocks and bonds,see what Masterworks has on offer. (Hurry, they often sell out!)

Crystal River, Florida

Average Rent: $599

Median Home Price: $333,400

Retirees who are animal lovers will be right at home in Crystal River. The self-appointed manatee capital of the world is perfect for spending time in the wildlife refuge that houses these majestic animals.

Located near Tampa and Orlando, Crystal River offers more than just serene beaches teeming with wildlife. It's the best spot in Florida to enjoy quaint country living and city life and avoid wasting money in retirement.

Want to learn how to build wealth like the 1%? Sign up for Worthy to get ideas and advice delivered to your inbox.

Corpus Christi, Texas

Average Rent: $975

Median Home Price: $150,000

Corpus Christi is another great choice for seniors who want to spend their retirement in an affordable spot. It offers pristine beaches, cultural and historic venues, and a close-knit senior community comprising 16% of the city's population.

Corpus Christi is also on the low end of rent in Texas. In addition, as a Texas resident, you won't have to pay retirement income taxes, enabling you to save more money.

Pensacola, Florida

Average Rent: $950

Median Home Price: $145,000

If you want to live frugally during retirement, look no further than Pensacola. It's a charming town with tons of free activities and sunshine.

Pensacola is also on the low end of the cost of living for an American town. To make things even better, you'll be exempt from paying taxes on your retirement income when you pick this tourist favorite as your new home.

Get a free stock valued between $5 to $200

Secret: You don't need thousands of dollars to buy thousand-dollar stocks or create a diverse portfolio.

Robinhood offers a method of investing called “fractional shares.” On its own, one share of a single stock could cost a lot of money, making it difficult to diversify. Robinhood allows you to buy pieces of stock instead, so you have the option to build a diverse portfolio quickly.

Let’s say you want to invest $250, as an example.

With that amount, you could build a relatively diverse portfolio with an investment of $50 in a big tech stock, $50 in a retail stock, $50 in an energy stock, $50 in a manufacturing stock, and $50 in a bank.¹ This content is for informational purposes only, you should not construe any such information as legal, tax, investment, financial, or other advice. To get stock reward, new customers need to sign up, get approved, and link their bank account. Stock rewards shares cannot be sold until 3 trading days after the reward is granted and the cash value of the stock rewards may not be withdrawn for 30 days after the reward is claimed. Stock rewards not claimed within 60 days may expire. See full terms and conditions at <a href="https://robinhood.com/us/en/support/articles/open-account-pick-your-stock/">rbnhd.co/freestock</a>. Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our Customer Agreement. Robinhood Gold is offered through Robinhood Financial LLC and is a membership offering premium services available for a fee.

Even better news? Add a Robinhood Gold membership, and you’ll get access to 4.00% (as of 12/27/24) APY² Annual Percentage Yield. Rate valid as of April 12, 2024. To earn interest, a cash balance is needed. If you have a margin balance, there is no cash balance to earn interest. Interest rates for cash sweep and margin investing can change at any time. Fees may reduce interest earnings. on your uninvested cash³ Interest is earned on uninvested cash swept from your brokerage account to partner banks. Partner banks pay interest on your swept cash, minus any fees paid to Robinhood. As of Nov 15, 2023, the Annual Percentage Yield (APY) that you will receive is 1.5%, or 5% for Gold customers. The APY might change at any time at the partner banks' or Robinhood's discretion. Additionally, any fees Robinhood receives may vary and are subject to change. Neither Robinhood Financial LLC nor any of its affiliates are banks. All investments involve risk and loss of principal is possible. Robinhood Financial LLC (member SIPC), is a registered broker dealer. and the ability to buy and sell stocks 24 hours a day, 5 days a week.

Open and fund a Robinhood account and earn up to $200 in stock

Odessa, Texas

aerial view of texas beach without any people with sun through the clouds

Average Rent: $1,321

Median Home Price: $194,568

Odessa doesn't have the pedigree of some of its more famous Texan neighbors. Still, this town is a great place to live if you appreciate the great outdoors and affordable prices.

Between its beautiful beaches and vibrant culture, Odessa welcomes retirees who enjoy a no-frills living. The best part? Finding affordable rents that leave more money in your pocket each month.

Bay St. Louis, Mississippi

Average Rent: $1,000

Median Home Price: $155,000

Have you always wanted to live in a small town? If so, Bay St. Louis is the place for you. This beach town offers majestic views and the perfect climate year-round.

Mississippi is another state that doesn't tax retirees, which makes this idyllic town the perfect spot to live on a budget. If you're not sold already, consider this: New Orleans is within driving distance, at only an hour or so away.

Sunset Beach, North Carolina

johnnie mercers fishing pier at sunrise in wrightsville

Average Rent: $1,183

Median Home Price: $477,500

North Carolina is a retiree-friendly state. Besides its natural beauty and coastal beaches, it doesn't tax Social Security. It also helps you keep from wasting your retirement funds thanks to the state's low 4.75% income tax.

Sunset Beach is the best North Carolina offers as a quiet seaside paradise for retirees. If you enjoy all the amenities of a big city but don't want to live in a crowded place, it's perfect.

Grow Your $$: 11 brilliant ways to build wealth after 40

Lake Charles, Louisiana

Average Rent: $1,048

Median Home Price: $244,900

Lake Charles is a small town that blends its southern charm with beautiful nature — perfect for retirees who want to take it easy after decades of busy work.

Located between New Orleans and Houston, this quaint town is perfect if you enjoy traveling without breaking the bank. It's also a close-knit community that welcomes like-minded seniors with lively festivals and great food.

Punta Gorda, Florida

sunrise southwest florida at punta gorda

Average Rent: $1,272

Median Home Price: $400,000

Like Pensacola, Punta Gorda is a savings paradise for retirees who want to avoid paying income tax during their golden years. Unlike Pensacola, Punta Gorda is a small community that sports a large retiree population.

This town also offers residents a lot of attractions, including various festivals each year. Given the affordable rent prices, Punta Gorda's beach feel makes it the perfect home for financially savvy retirees.

Astoria, Oregon

Average Rent: $1,272

Median Home Price: $565,000

While not many consider Oregon's coast prime beach country, Astoria begs to differ. This small town is quaint, quiet, and full of charm. Oregon is also one of the more affordable states when it comes to grocery prices.

Retirees who love the outdoors will enjoy the breathtaking vistas of the Columbia River. Those who prefer to stay indoors have several options, including wine tastings and cultural venues to explore.

Earn up to a $300 bonus and grow your money with up to 3.80% APY

This powerful combination checking + savings account from SoFi® allows you to earn up to a $300 bonus with direct deposit and grow your money with up to 3.80% APY.⁴ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. See full bonus and annual percentage yield (APY) terms at <a href="http://www.sofi.com/banking#1">sofi.com/banking#1</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.

This is one of the top accounts we’ve seen, and offers like this can be rare. You work hard, and now it’s time to make your money work for you — with SoFi, you can grow your money with hardly any effort!

SoFi has no account fees⁵ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a> or overdraft fees⁶ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A.  The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the "30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY.  Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage. and additional FDIC insurance up to $3 million on deposits is available through a seamless network of participating banks.⁷ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>. Plus, you can receive your paycheck up to 2 days early.⁸ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

How to earn up to $300: Sign up and make a direct deposit within the first 25 calendar days of the promotional period, then collect a $300 cash bonus with a direct deposit of $5,000 or more.

SoFi is a Member, FDIC. ⁷ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.

Open your SoFi account and set up direct deposit

Bottom line

With these nine beach towns, you can retire to a gorgeous location with balmy weather and enjoy your well-earned time off.

Larger towns like Pensacola and quaint fishing villages like Punta Gorda have one thing in common: They are affordable and help you maximize your retirement savings.

Besides finding a low-cost beach town, you can save money and enjoy retirement by picking up a free hobby like bird-watching. What's a better way to enjoy your warm-weather paradise than being outdoors?

Supercharge your investments: See what could happen if you add fine art to your investment portfolio

Build passive income with shares of rental homes

Ark7 - Real Estate Investing Benefits

Invest in cash-flow-generating, professionally managed rental properties without having to buy the whole property
Sell shares at will at no cost
3% sourcing fee and 8-15% monthly management fee
$20 minimum investment
Ark7 investors have earned 5%+ annualized distributions from monthly income alone⁹ The 5%+ return is the portfolio average and is based on figures since Q4 2022.

Get started