9 States Where Retiring Comfortably for Less Than $55,000 a Year Is Possible

If you want to lower your financial stress, you'll want to lower your expenses first. Start with the big things, like housing, taxes, and groceries, which all take a big chunk out of your monthly budget.

But, in some states, that chunk can feel a little smaller, which is important to those living on a fixed income who don't want to worry about whether they'll have enough to cover rent, groceries, and a little bit of fun, too. Plus, if you want to continue to bring in money during retirement, the good news is you can still work from home from these locales while enjoying their low cost of living.

Ready to make a move? Here are the nine states where you can retire comfortably for less than $55,000 a year.

Don't mind the cold? Craving a more outdoorsy lifestyle? Retire to North Dakota, where the median home price is $360,000.

If you're only working with $55,000 a year, you'll still have plenty of money leftover to spend on all of your new winter hobbies, like snowshoeing and ice fishing. If you're looking for a more bustling locale, Bismarck, the capital city, is on the Missouri River, so you'll also enjoy relaxing water activities throughout the gorgeous summers.

While Montana has some expensive enclaves, particularly Bozeman and Whitefish, much of the state is still affordable for retirees looking for an outdoorsy retirement. The average housing costs in the state are $614 to $1,681 per month, which means you can find budget-friendly areas throughout the state, particularly as you move out to more rural areas. Billings, Great Falls, and Butte are all good areas to settle down, and groceries will run you around $331 a month.

South Dakota has the 13th lowest cost of living in the United States, and you can meet the average cost of living with just over $48,000 per year. The average housing costs are $507 to $1,557 per month, depending on where you live.

Aberdeen is one of the most affordable cities, but even Sioux City is reasonable compared to other major metropolitan areas around the country. From Badlands National Park to Wind Cave National Park, this is the place to go if you love outdoor recreation and driving just a few minutes to find yourself in a wild, wonderful landscape.

Want to enjoy the vibrant culture and stunning natural vistas that New Mexico has to offer? This Southwest state has a cost of living that's 5% lower than the national average, and housing is 12% lower than the national average. Las Cruces and Albuquerque are both great choices for a more affordable retirement.

That gives you excess cash each month so that you can enjoy the Land of Enchantment. From exploring the White Sands National Park to experiencing the rich history of Taos, there's plenty to do. Las Cruces and Albuquerque are both great choices for a more affordable retirement.

The cost of living in Idaho is $39,739 per year, so even though it's become a hot spot for transplants in recent years, there are still affordable spots throughout the state where you can find a retirement home.

Housing will cost $762 to $1,776 per month, and cities like Burley and Twin Falls are great for retirees looking for a more affordable way of life. Groceries will only run you $275 per person on average each month, which is great news for those seeking a more rural life in the Gem State.

In addition to gorgeous natural landscapes, you'll find low taxes in Idaho. Your Social Security Retirement Benefits aren't taxed, and both property taxes and sales taxes are low.

New York has a reputation for being expensive, but not every city is like New York City, and the high cost of living there tends to skew the perception of its neighbors. You could retire to a lovely upstate town like Cheektowaga, where you'll only pay $1,132 a month in housing costs.

Upstate, you'll find a gorgeous region full of small towns to explore, rural areas for hiking, and some of the most beautiful fall leaves in the entire country.

Nebraska is known for its tight-knit communities, as well as its vast, open plains. If you're from the Midwest or looking for a way of life that's more connected to the land, this could be the place.

The median home price is $300,000, and even larger cities like Omaha have a cost-of-living that's lower than the national average, which makes this a very affordable and appealing place to retire.

Texas is one of the largest states in the country, so it's no surprise that you'd be able to find more than a few places where you can comfortably retire for less than $55,000 a year. The median home price of $348,000 is below the national median by nearly $70,000, and there's no state income tax.

While cities like Austin or Dallas may be more expensive, you can find affordable suburbs just outside major metropolitan areas where you'll still enjoy the same warm weather, along with lots of land.

The cost of living in Wisconsin is just below the national average, and the median home price is $328,500, which means a retiree can absolutely make it work on $55,000 a year.

When you retire to Wisconsin, you'll find gorgeous seasons, enthusiastic sports fans, and a storied food culture that includes some of the best cheese in the nation, as well as Friday fish fries and supper clubs. Plus, the groceries here are 1% below the national average.

If you're looking to retire to this state, you'll definitely want to check out affordable towns including Eau Claire, Madison, and Lake Geneva.

Even in a low-cost-of-living state, you still might find yourself looking for ways to earn extra income, particularly if you have your sights set on travel and enjoying your retirement to the fullest, or if you're finding your social security paychecks and savings simply aren't cutting it.

In addition to finding a more affordable place to live, you can explore clever ways to help pay your rent and get yourself back on financial track so that you'll be able to spend your golden years following your dreams.