Covering the Land of Lincoln

10 Best Arizona Cities To Retire on $3,000 a Month

  • Monthly expenditures: $2,682.95
  • % of population 65 and older: 23.1%
  • Livability: 84

For the 150,000 or so residents that call it home, it’s no surprise at all that Surprise, Arizona ranks #1 when it comes to the best Arizona cities to retire on $3,000 per month. Utilities and one-bedroom rents are actually higher than the national average in Surprise, but a host of other benefits and amenities boost it to the top of the rankings.

Healthcare and grocery costs are quite low, and the city’s livability score of 84 is off the charts. It’s no wonder that 23.1% of the city’s residents are 65 and older, well above the national average of 16.

More From GOBankingRates

Methodology: For this study, GOBankingRates found the best cities in Arizona to retire on $3,000 dollars or less. GOBankingRates used ApartmentList June 2022 data to find the cheapest cities in Arizona in terms of (1) average 2022 monthly rent for a 1 bedroom apartment. GOBankingRates then used Sperling’s Best to find the cost of living index for every city on the list, looking at (2) grocery, (3) utilities and (4) healthcare index scores. Next, GOBankingRates used data from the Bureau of Labor Statistics’ 2020 Consumer Expenditure Survey to find the annual expenditure amount for both grocery (“food at home”) and healthcare costs for people aged 65 and older in order to find how much a person 65 and over would spend on groceries and healthcare in each city on a monthly basis. GOBankingRates then added monthly housing, grocery and healthcare costs together to find where a person 65 and older could survive on $3,000 or less. In order for a city to be qualified for the study, it had to have a livability score of 65 or higher as sourced from AreaVibes. For final rankings all qualified cities were ranked by (5) total monthly expenditures, (6) % of population over 65 and (7) livability with the lowest score being best. Factor (7) was weighted 1.5x. All data was collected on and up to date as of August 1, 2022.

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More