8 Budget-Friendly Beach Towns To Retire to in 2024 (No. 6 May Surprise You!)

As you plan your retirement, you may be thinking about moving to a beach town to enjoy your golden years near the sand and water.

But beach towns can get expensive depending on real estate costs, taxes, and other factors.

So, if you’re trying to save money in retirement, here are a few beach cities to consider that can also help you stretch your budget.

Biloxi, which is located on the Gulf of Mexico, maybe a good option for its affordability when it comes to housing. Visiting before retirement may help you to want to grow your wealth faster to get to retirement as quickly as possible.

The median sale price was $296,885 in September, according to Redfin. Mississippi’s tax laws are also friendly to retirees. You won’t have your Social Security or any potential pension taxed and property taxes are lower than many other states.

Myrtle Beach may be a good option if you want a place on the Atlantic coast.

You can get a home for a median sale price of $265,000. Surprisingly, multiple offers are rare, so you may not have to compete as you would in other cities with hotter housing markets.

You can also feel comfortable if you’re moving from a larger city as other residents moving to the area come from East Coast cities like Boston, New York, and Washington, D.C.

And while your retirement income and pension are partially taxed, property taxes in South Carolina are below the national average, which can help you save money.

Another East Coast easy town is Vero Beach, which is one of the more affordable options you may want to try in Florida.

The area had a median home sale price of $265,000 in September, which was down from the previous month. It’s also seen an increase in the number of days on the market, which could make it less competitive for you to find a home.

Florida is one of nine states that does not tax income, making it more affordable if you’re on a tight budget in retirement. The state also doesn’t tax things like groceries or prescription drugs if you’re worried about ongoing tax costs.

Like Biloxi, Mobile also sits on the Gulf Coast, which may be appealing to you in your beach home search.

The median sale price for a home in Mobile was $200,000 in September, which is a good option for buyers, allowing you to stay financially healthy with some extra cash in your pocket.

Be aware that while Social Security and pensions are not taxed, you will be taxed on any withdrawals you make from retirement accounts.

Along the Texas coast of the Gulf is Corpus Christi, with attractions like a naval museum and the Texas State Aquarium to keep you busy, in addition to the beach.

You can get a home in Corpus Christi for a median sale price of $278,000. And it’s a popular relocation spot for Texans, with residents from Austin, San Antonio, and Dallas making up the bulk of recent transplants.

Social Security, pensions, and retirement account withdrawals are not taxed in Texas, which may be a big incentive if you rely on those options for income.

Lincoln City may be a bit more expensive than other cities on this list, and surprising to see, but it is also a gem if you prefer to stay by the water in the Pacific Northwest.

The median sale price for a home in the city was $526,000 in September, up 41.2% since last year. The good news is that Social Security is not taxed, but you’ll have to balance that with your retirement withdrawal income being fully taxed.

If you don’t mind a mild winter and the change of seasons in your beach town, check out the Delaware Bay town of Milton. Milton has a charming downtown and is the home of the Dogfish Head Craft Brewery.

The median sale price for homes is $512,000. You will be partially taxed on retirement withdrawals and your pension. However, your Social Security will not be taxed. And Delaware has zero sales tax on all purchases, which can save you some extra money.

You can find affordable beach towns in California if you decide to stay on the West Coast. Finding the right one will have you crunching numbers to see if you can retire early. 

Crescent City in northern California had a median sale price of $370,000 in August, which can still work within your budget depending on the home you choose.

One issue you may have with California is taxes, which are higher than in other states. So remember to factor in taxes on pensions and retirement income, as well as retirement withdrawals.

There are plenty of beachy places if you’re going to retire soon or just want to start traveling more since they should all be waiting for you if you still need to grow your wealth before reaching your golden years. 

Make sure you make an estimated budget before you retire so you know how much you can afford to spend each month so that you don't have to supplement your Social Security while in retirement.

And don’t forget to factor in everyday items like groceries and utilities as well as one-time costs such as travel.