5 Spectacular Places to Retire on $6,000 a Month (2024)

You worked hard, invested well and planned for a comfortable retirement. Now you’d like to live in a beautiful place where the cost of living leaves you some money left over every month for small luxuries such as live music performances, dinners out or regular travel to see your grandchildren.

With $6,000 a month, you have more money than the average retiree—Americans aged 65 and older generally spend roughly $4,000 a month—and therefore more options on where to live. Below, we list five spectacular places where you might consider spending your golden years.

For Warm Weather and Plenty of Recreational Activities: Reno, Nevada

Population: 255,601

Share of population 65+: 14.8%

Median monthly homeowner costs, with mortgage: $1,665

Median rent: $1,029

Once known as the place to go if you wanted a quick divorce, Reno has since become a haven for retirees who want to spend their golden years outdoors—or gambling in one of the city’s more than 20 casinos. Located close to Lake Tahoe, Reno has hot, dry summers and moderate winters ideal for golfers and skiers alike. The typical home value is currently around $516,000—over 27% higher than the year before. Condos average $300,000, and the median gross rent is $1,029. The average cost of health care is 4.3% lower than the national average. In addition, Nevada has no state income tax, and the average property tax is just 0.53%.

For White Sand Beaches: Cape Coral, Florida

Population: 194,495

Share of Population 65+: 22.7%

Median monthly homeowner costs, with mortgage: $1,458

Median rent: $1,244

Located on the Gulf Coast of Florida between Sarasota and Naples, Cape Coral has more than 400 miles of waterways that provide both transportation and recreation to residents. If you love the beach, you’ll never get bored. Along with close proximity to Sanibel and Captiva islands, which have crystal-clear water and plenty of wildlife, Cape Coral also offers ready access to Sanibel’s Big Arts, a nonprofit that provides regular cultural programming, as well as a wide range of classes. Cape Coral, which boasts a thriving Latino community, has a typical home value of roughly $309,000. The cost of living in Cape Coral is 3.9% higher, and the cost of health care is 19.6% more than the national average. However, the HealthPark Medical Center in nearby Fort Myers is among the top 100 in the nation for intensive care and cardiology.And Florida has no state income tax, as well as no estate or inheritance tax.

For Intellectual Stimulation: Ann Arbor, Michigan

Population: 119,980

Share of population 65+: 11.7%

Median monthly homeowner costs, with mortgage: $1,941

Median rent: $1,237

Consistently ranked as one of the top cities for aging and retirement, Ann Arbor is 40 miles west of Detroit and home to the University of Michigan, one of the best public universities in the United States. If you don’t mind the cold—it averages 57 inches of snowfall a year here—then Ann Arbor, with its walkable downtown and access to continuing education opportunities, is a delightful place to have a lot of free time. The cost of living, which is 17.5% higher than the national average, and the current typical home value of around $431,000 may seem steep. But there are enticing offsets. The average cost of health care here is 10.5% lower than the national average, and the city boasts the excellent University of Michigan hospital, ranked 11^th in the country. Michigan does not tax Social Security retirement benefits and provides deductions of up to $53,759 for qualifying taxpayers on other forms of retirement income.

For Golf Lovers: Augusta, Georgia

Population: 197,888

Share of population 65+: 13.5%

Median monthly homeowner costs, with mortgage: $1,147

Median rent: $888

Home to the Masters golf tournament every April, Augusta is the place to be if you love golf, azaleas or sweet tea—or all three at once. Known for its temperate winters, Augusta also has plenty of activities along the Savannah River, as well as cultural venues including the James Brown Arena and the Morris Museum of Art. The average cost of living is 19.3% lower than the national average and the typical home value is currently around $144,000, which means that frugal retirees will have plenty of cash left over for an annual golf membership. (The initiation fee at the Augusta National Golf Club, the site of the Masters tournament, runs around $40,000 according to the publication GOLF.) Health care is 4.4% lower than the national average, and Georgia’s tax policies are some of the friendliest in the country. Social Security income is not taxed by the state, and neither are estates and inheritances.

For Fans of Live Music: Nashville, Tennessee

Population: 670,820

Share of Population 65+: 11.7%

Median monthly homeowner costs, with mortgage: $1,420

Median rent: $1,100

Sure, Nashville is home to the Grand Ole Opry, country music’s most famous venue, but it’s also a thriving city with a great food scene and a moderate climate that will allow you to spend plenty of time outdoors, even in the winter. Use your extra money on a ticket to see a show with rising music stars or indulge in a few bourbon co*cktails at the Hermitage Hotel’s Oak Bar. Like most places in America, the typical home values rose in Nashville over the past year, averaging roughly $357,000. The cost of living is 1.4% higher and the cost of health care is 7.4% greater than the national average. Yet Tennessee does not tax any form of retirement income and the state generally has low property taxes.

Brienne Walsh is a writer based in Savannah, Ga. She contributes to Forbes, Rangefinder and MarketWatch, among other publications.

LEARN MORE: 5 Awesome Places to Retire for $1500 a Month or Less