10 Best Places in the South To Retire With $500K in Savings

Half a million dollars might not sound like a fortune these days, but in the South it can go a surprisingly long way. Retirees can stretch their dollars much further thanks to a lower cost of living, but without compromising on a nice quality of life. Whether you’re dreaming of coastal breezes, scenic views or outdoor adventures, there are affordable options.

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To help narrow down the search, GOBankingRates analyzed U.S. cities with data from the 2023 5-year U.S. Census American Community Survey and compiled a list of places to retire in the South with a nest egg of half a million dollars. Here are the 10 best spots.

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Sebastian, Florida

• Annual cost of living: $46,621

• Cost of 20 years of retirement (after Social Security): $451,856

Find Out: How Far $500,000 in Retirement Savings Plus Social Security Goes in Every State

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Cape Canaveral, Florida

• Annual cost of living: $48,232

• Cost of 20 years of retirement (after Social Security): $484,064

Discover More: 44 Best Small Towns To Retire in America

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Kerrville, Texas

• Annual cost of living: $41,754

• Cost of 20 years of retirement (after Social Security): $354,516

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New Port Richey, Florida

• Annual cost of living: $43,054

• Cost of 20 years of retirement (after Social Security): $380,506

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Cold Spring, Kentucky

• Annual cost of living: $47,632

• Cost of 20 years of retirement (after Social Security): $472,067

Explore More: 50 Cheapest Places To Retire Across America

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North Port, Florida

• Annual cost of living: $33,288

• Cost of 20 years of retirement (after Social Security): $185,194

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Tavares, Florida

• Annual cost of living: $39,374

• Cost of 20 years of retirement (after Social Security): $306,900

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Orange Park, Florida

• Annual cost of living: $45,893

• Cost of 20 years of retirement (after Social Security): $437,281

Read More: 12 Surprisingly Affordable Cities With Great Weather for Retirees

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South Boston, Virginia

• Annual cost of living: $46,217

• Cost of 20 years of retirement (after Social Security): $443,767

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North Fort Myers, Florida

• Annual cost of living: $30,368

• Cost of 20 years of retirement (after Social Security): $126,789

Methodology: ​​For this study, GOBankingRates analyzed cities cities across the United States to find the best places to retire with $500,000 in savings. Using the 2023 5-year Census American Community Survey, cities with at least 1,000 residents ages 65 and over were identified. Cost of living was determined using Sperling’s BestPlaces and the Bureau of Labor Statistics Consumer Expenditure Survey. The average Social Security income was sourced from the Social Security Administration’s Monthly Statistical Snapshot. The livability was sourced from AreaVibes and is used to determine the overall quality of life, representing the “best” places. Cities with 20-year cost of retirement under $500,000 were sorted to show the highest quality of life, representing the best places you can retire with $500,000 in savings. All data was collected on and is up to date as of June 16, 2025.

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This article originally appeared on GOBankingRates.com: 10 Best Places in the South To Retire With $500K in Savings