The Best Cities To Retire on $15,000 a Month

Understanding how your retirement savings compare to your desired lifestyle can help you find the best place to retire with the lifestyle and amenities you want most. With $15,000 per month, you can live in some of the most desirable destinations in the world, including these top five U.S. cities.

We scoured the nation, focusing on the cost of living, amenities, climate, healthcare access and more to make this list of the best places to retire on $15,000 per month. If you're fortunate enough to have those resources, you might find one of these locations perfect for your golden years.

The Best Places To Retire on $15,000 Per Month

1. Best for Midwestern Lifestyle: Omaha, Nebraska
2. Best for Oceanside Vibes: Punta Gorda, Florida
3. Best for Unique Culture: Huntsville, Alabama
4. Best for Big-City Amenities: Seattle, Washington
5. Best for History Buffs: Washington, D.C.

1. For Midwestern Lifestyle: Omaha, Nebraska

• Cost of living: 7% below the national average¹
• Median home price: $415,352¹
• Median monthly rent: $1,267¹
• Metro population: 983,969²
• State taxes: No taxes on Social Security; 2.46% to 5.84% on other income³

Why retire in Omaha?

Omaha is a comfortable city offering an excellent lifestyle. It has access to many restaurants, a world-class zoo, art museums and the lovely cobblestone Old Market. Downtown Omaha sits on the Missouri River, which separates it from Council Bluffs, Iowa. It experiences all four seasons, with hot summers and cold winters.

Omaha is an affordable city, with a median home price below $420,000 and a median rent of $1,267 per month.¹ If you have a $15,000 monthly budget, you can likely afford a large home or live in luxury in one of Omaha's most desirable neighborhoods. If it's good enough for Warren Buffett, one of the richest people in the world, it's likely good enough for countless retirees on a comfortable budget.

2. For Oceanside Vibes: Punta Gorda, Florida

• Cost of living: 3% below the national average⁴
• Median home price: $408,005⁴
• Median monthly rent: $1,245⁴
• Metro population: 206,134²
• State taxes: No state income tax³

Why retire in Punta Gorda?

While Punta Gorda has just 206,000 residents,² it lies in a popular stretch of the Florida Gulf Coast for retirees. Cities like Tampa and Fort Myers are a relatively short drive away, but residents have little reason to leave if they enjoy the ocean. Punta Gorda's waterfront faces Charlotte Harbor, a large bay that's perfect for boating, fishing and wildlife spotting.

Florida doesn't have any state income tax, so you won't pay taxes on Social Security or other retirement income.³ The cost of living is just below the national average.⁴ Residents enjoy mild winters and warm to hot summers. If you can handle an occasional hurricane, Punta Gorda offers a nice climate where you will rarely experience temperatures below freezing.

3. For Unique Culture: Huntsville, Alabama

• Cost of living: 8% below the national average⁵
• Median home price: $371,760⁵
• Median monthly rent: $1,134⁵
• Metro population: 527,254²
• State taxes: Social Security is not taxable and retirement plan distributions are exempt up to $6,000 per year; 2% to 5% on other income³

Why retire in Huntsville?

Known as Rocket City, Huntsville is home to the sprawling Redstone Arsenal, a major center for NASA and the United States Armed Forces. Traces of its ties to space and aviation are all over town, including the U.S. Space & Rocket Center, home of Space Camp. When you're not exploring the cosmos, Huntsville also offers excellent dining, museums, historic sites, parks and gardens.

The cost of living is below the national average,⁵ and those who have $15,000 per month to retire can likely afford a comfortable home in one of Huntsville's historic neighborhoods or modern suburbs. The city offers a temperate to hot climate and tax-friendly laws for retirees.³

4. For Big-City Amenities: Seattle, Washington

• Cost of living: 45% above the national average⁶
• Median home price: $1,039,360⁶
• Median monthly rent: $3,170⁶
• Metro population: 4,044,837²
• State taxes: No state income tax; some taxes on large capital gains³

Why retire in Seattle?

Seattle is the most expensive city on this list, driven by high housing costs. However, high-income retirees should be able to find affordable living and an excellent lifestyle. As the 15th largest metro area nationwide,² you'll find everything from professional sports teams to renowned museums.

Even better, regular income is not taxable. You'll only pay state taxes on some long-term capital gains if you draw more than $250,000 in a year.³ If you can handle the cost of housing, proximity to attractions like Pike Place Market, Lake Union, the Space Needle and Chihuly Garden and Glass are just a few highlights to keep you busy. Winters are long and rainy, but temperatures are generally mild year-round.

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

5. For History Buffs: Washington, D.C.

• Cost of living: 39% above the national average⁷
• Median home price: $1,213,729⁷
• Median monthly rent: $3,702⁷
• Metro population: 6,304,975²
• State taxes: Social Security is not taxable; 4% to 10.75% on other income³

Why retire in D.C.?

Our nation's capital offers a plethora of walkable restaurants, museums and historic sites. With destinations including the Smithsonian museums, Library of Congress, U.S. Capitol and dozens of other museums and noteworthy government buildings, Washington, D.C., residents never run out of places to explore and learn about America's history from before its founding into the modern era.

The biggest drawback is the cost of living, which is almost 40% above the national average. The median home price is more than $1.2 million. But with an average rent of less than $4,000,⁷ households with a $15,000 budget should be able to find an affordable rental. And if you're willing to move to a nearby suburb like Bethesda or Alexandria, you can find more affordable living with convenient access to the city.

Live Your Dream Retirement on $15,000 Per Month

With $15,000 per month, you can retire nearly anywhere from coast to coast. Knowing what you want from a retirement city can help you figure out what you most value so you can create your wish list. Whether your top priorities are weather, taxes or something else, one of these amazing locales could be the perfect choice.

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