Want to retire in a major city? Here are your 15 cheapest options

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If you’re considering the most affordable cities for retirement, a new ranking makes a strong case for Ohio.

The folks at GoBankingRates.com ranked the 100 largest U.S. cities based on how much annual retirement income would be needed to cover the cost of housing, healthcare, transportation, food, and utilities.

For each city, GoBankingRates also factored in a seven-category “livability score” courtesy of AreaVibes.com — and filtered out cities that have a senior population of less than 9.5%.

When the dust settled from the various algorithms, the crown jewels of cheap retirement emerged. Here are the 15 cheapest major cities for retirement.

Image Credit: DepositPhotos.com.

15. Milwaukee, Wisconsin

Annual Expenditures: $44,588

Image Credit: DepositPhotos.com.

14. Columbus, Ohio

Annual Expenditures: $44,588

Image Credit: DepositPhotos.com.

13. Mobile, Alabama

Annual Expenditures: $43,597

Image Credit: DepositPhotos.com.

12. St. Louis, Missouri

Annual Expenditures: $43,597

Image Credit: DepositPhotos.com.

11. Indianapolis

Annual Expenditures: $43,597

Image Credit: DepositPhotos.com.

10. Winston-Salem, North Carolina

Annual Expenditures: $43,102

Image Credit: DepositPhotos.com.

9. El Paso, Texas

Annual Expenditures: $43,102

Image Credit: DepositPhotos.com.

8. Wichita, Kansas

Annual Expenditures: $42,606

Image Credit: DepositPhotos.com.

7. Lubbock, Texas

Annual Expenditures: $42,111

Image Credit: DepositPhotos.com.

6. Memphis, Tennessee

Annual Expenditures: $41,615

Image Credit: DepositPhotos.com.

5. Greensboro, North Carolina

Annual Expenditures: $41,120

Image Credit: DepositPhotos.com.

4. Fort Wayne, Indiana

Annual Expenditures: $41,120

Image Credit: DepositPhotos.com.

3. Buffalo, New York

Annual Expenditures: $40,624

Image Credit: DepositPhotos.com.

2. Toledo, Ohio

Annual Expenditures: $38,643

Image Credit: DepositPhotos.com.

1. Cleveland, Ohio

Annual Expenditures: $38,147

Image Credit: DepositPhotos.com.

Are you prepared for retirement?

Retiring comfortably continues to grow more challenging. As the cost of living continues to rise many adults are working longer than ever, and many retirement-age Americans do not have enough retirement savings. Expanding the geographical range of your search could ease the pressure. 

This article originally appeared on Considerable.com and was syndicated by MediaFeed.org.

Image Credit: DepositPhotos.com.

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