5 Awesome Places To Retire on $10,000 a Month or Less

Everyone's dream retirement looks different. Whether you want to travel, golf, fish, volunteer, spend time with family, or anything else, having adequate retirement savings is vital to enjoying those plans. Those with enough savings and investments to afford a $10,000 monthly budget in retirement have plenty of options for where to spend their golden years.

If you're looking for places to retire on $10,000 a month, you can choose from beachfront towns, mountain destinations, big cities and nearly anywhere in between. We've scoured the U.S. looking for tax-friendly destinations, comfortable climates and access to world-class recreation that could be a perfect fit for retirees. Here's a closer look at five of the best places to retire with $10,000 per month.

MORE PLACES TO RETIRE FOR: $1,500, $3,000, $4,000, $5,000 or $6,000 per month

The Best Places To Retire on $10,000 Per Month

1. Best for Urban Amenities: Chicago, Illinois
2. Best for Ocean Access: Tampa, Florida
3. Best for Year-Round Recreation: Denver, Colorado
4. Best for a Mild Climate: Vancouver, Washington
5. Best for Low Taxes: Corpus Christi, Texas

1. For Urban Amenities: Chicago, Illinois

• Cost of living: 14% above the national average¹
• Median home price: $681,804¹
• Median monthly rent: $2,080¹
• Metro population: 9,262,825²
• State taxes: No taxes on retirement income; 4.95% on other income³

Why retire in Chicago?

Chicago is one of the biggest cities in America and offers something for nearly everyone. From world-class museums to storied professional sports teams and much more, Chicago is an exciting destination that's affordable when you're looking to retire with a $10,000 monthly budget. Located on the shore of Lake Michigan, you can find recreation and dining locations with beautiful views, all within a short walk of Chicago's towering skyscrapers.

The cost of living is 14% above the national average, with a median home price of $681,804 and median rent of $2,080 per month,¹ though you may pay more in some of the most desirable areas. If you can handle the cold winters, Chicago offers an excellent lifestyle.

2. For Ocean Access: Tampa, Florida

• Cost of living: Equal to the national average⁴
• Median home price: $473,639⁴
• Median monthly rent: $1,445⁴
• Metro population: 3,342,963²
• State taxes: No state income tax³

Why retire in Tampa?

The Tampa area is a popular retirement destination. It offers warm weather all year and coastal access to Tampa Bay and the Gulf of Mexico. It's a major metropolitan area just across the water from St. Pete, and it's home to museums, parks, professional sports teams and plenty of opportunities to take a boat ride.

The cost of living in Tampa is in line with the national average, and a retirement income of $10,000 per month can make homes affordable to rent or own. With no state income tax, your dollars can stretch further than in many other locations. And if you're looking for a day trip or weekend away, the Southwest Florida coast has no shortage of fun destinations and activities.

3. For Year-Round Recreation: Denver, Colorado

• Cost of living: 11% above the national average⁵
• Median home price: $665,641⁵
• Median monthly rent: $2,030⁵
• Metro population: 3,005,131²
• State taxes: Retirement income is partially taxable; 4.4% on other income³

Why retire in Denver?

The Mile High City is a top location for outdoor enthusiasts. During the warmer months, you can hike, bike, climb, raft and camp throughout the Front Range of the Rocky Mountains. In the winter, some of the world's best ski resorts are just a short drive away. The Denver area is also home to excellent parks, museums, theaters and the famous Red Rocks Amphitheatre. Denver residents never run out of things to do.

Although the cost of living is above the national average, driven by higher than average housing costs,⁵ it's still much more affordable than large metro areas on the East and West coasts. Social Security income isn't taxed once you reach age 65, and the flat 4.4% tax rate for other income is reasonable compared to many other states.³ If you're looking for a new place to call home in retirement, Denver could be a good choice.

4. For a Mild Climate: Vancouver, Washington

• Cost of living: 4% above the national average⁶
• Median home price: $481,475⁶
• Median monthly rent: $1,469⁶
• Metro population: 2,508,050²
• State taxes: No state income tax³

Why retire in Vancouver?

Vancouver is about 30 minutes north of downtown Portland, Oregon, and gives residents close access to some of the best features of the Pacific Northwest, including a generally comfortable climate. Washington has no state income tax³ and Oregon has no sales tax,⁷ so Vancouver residents get the best of both worlds when it comes to tax savings.

The cost of living is just above the national average, and coupled with tax savings, the city is very affordable with a $10,000 monthly retirement budget. Portland attractions are just a short drive away, as is the beauty of the Columbia River Gorge. Other regional destinations include the Oregon Coast and Seattle, giving residents plenty of nearby options for a weekend getaway.

5. For Low Taxes: Corpus Christi, Texas

• Cost of living: 9% below the national average⁸
• Median home price: $386,454⁸
• Median monthly rent: $1,179⁸
• Metro population: 448,323²
• State taxes: No state income tax³

Why retire in Corpus Christi?

Located on the Gulf Coast and just a short drive from vacation hot spot Padre Island, Corpus Christi has warm to hot weather year-round and is one of the more affordable beachfront cities. The cost of living is 9% below the national average,⁸ so those with a $10,000 budget in retirement will likely find they can live very comfortably in the area.

Attractions include the Texas State Aquarium, the USS Lexington aircraft carrier and naval museum, and several other museums. But the biggest draw is the waterfront, with beaches, fishing and water sports just out your front door. And with no state income tax, your dollars are likely to go far in Corpus Christi.

Live Your Dream Retirement on $10,000 Per Month

Whether you care most about climate, recreation, culture or affordability, you have many potential destinations with $10,000 per month. But no matter how much you have saved, it's still important to keep a close eye on your spending habits and ensure your savings and investments are working to help you reach your financial goals and ideal lifestyle. If you manage your money well, you could have a long and comfortable retirement.

READ MORE: What's the Median Retirement Savings by Age?