The 10 Best Places To Retire For Under $40,000

St. Louis Missouri

Photo: Wikimedia Commons

Live well for less money.Even a modest nest egg could produce a comfortable retirement in these affordable retirement spots.

Low housing costs coupled with the amenities retirees need make these cities great places to retire on an income of less than $40,000 per year.

Albuquerque, New Mexico

Retirees benefit from Albuquerque's many amenities and low housing prices.

According to 2011 Census Bureau data, the median housing cost for people age 60 and older was $1,150 monthly for those with a mortgage, $358 for homeowners without a mortgage, and $657 for renters.

Augusta, Georgia

The host city of the Masters Tournament is best known for its golf courses.

Housing costs for residents age 60 and older are a median of just $626 for renters, $1,064 for homeowners with a mortgage, and $353 for seniors who have paid off their homes.

Columbia, South Carolina

South Carolina residents age 60 and older can qualify for free tuition to the University of South Carolina.

Monthly housing costs range from a median of $1,107 per month for homeowners age 60 and older with a mortgage, $350 monthly for those who have paid off their mortgage, and $712 monthly for renters.

Jackson, Mississippi

Homeowners age 60 and older paid a median of $1,053 per month in housing costs, which dropped to $329 if they had paid off their mortgage.

Retiree renters paid a median of $624 per month in 2011.

Knoxville, Tennessee

The typical resident age 60 or older with a mortgage in Knoxville pays a median of $1,060 per month.

For those without a mortgage, the median housing cost declines to just $347 monthly.

And retiree renters pay a median of $625 per month.

Little Rock, Arkansas

Homeowners age 60 and older pay a median of $1,059 if they have a mortgage and $360 monthly once the mortgage is paid off.

Retirees who rent pay a median of $656 monthly.

Senior citizens can also get discount admission to the Little Rock Zoo, Arkansas Museum of Discovery, and Clinton Presidential Library.

Louisville, Kentucky

Retirees face reasonable housing costs of $1,068 monthly if they have a mortgage and just $373 if they have paid off their mortgage.

Renters age 60 and older paid a median of $573 per month in 2011.

Pittsburgh, Pennsylvania

People age 60 and older pay a median of $590 per month in rent, $1,079 monthly toward their mortgages, or $435 per month in housing costs without a mortgage.

Senior citizens also have access to one of the nation's top geriatric medical facilities and ride free on the bus, T, or Mon Incline.

St. Louis, Missouri

Barnes-Jewish Hospital/Washington University is ranked 14th in the nation in geriatrics.

Housing costs for retirees are reasonable, including a median of $1,186 monthly for retirees with a mortgage, $442 among seniors with a paid-off house, and $657 monthly in rent.

San Antonio, Texas

San Antonio has an extensive 11,000-acre park system containing more than 68 miles of trails and over 50 golf courses.

Yet housing remains affordable, costing homeowners age 60 and older a median of $1,155 monthly, or $398 if they have paid off their mortgage.

Monthly rent for retirees is a median of $660.

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