Think retiring on the East Coast with just $500,000 in savings is out of reach? While the region is known for its pricey real estate, there are hidden gems where your savings can go far without you sacrificing comfort. From quaint towns to coastal communities, there are East Coast locations that offer a relaxing lifestyle and the kind of value that makes retiring on a budget totally doable.
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To find the most affordable places to retire on the East Coast, GOBankingRates analyzed cities with data from the 2023 five-year U.S. Census American Community Survey. Here are the top 10 spots on the East Coast to enjoy your golden years if you have just half a million dollars saved.
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Sebastian, Florida
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Annual cost of living: $46,621
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Cost of 20 years of retirement (after Social Security): $451,856
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Cape Canaveral, Florida
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Annual cost of living: $48,232
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Cost of 20 years of retirement (after Social Security): $484,064
See More: How Far $750,000 in Retirement Savings Plus Social Security Goes in Every State
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New Port Richey, Florida
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Annual cost of living: $43,054
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Cost of 20 years of retirement (after Social Security): $380,506
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Stroudsburg, Pennsylvania
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Annual cost of living: $46,958
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Cost of 20 years of retirement (after Social Security): $458,590
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Punxsutawney, Pennsylvania
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Annual cost of living: $45,460
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Cost of 20 years of retirement (after Social Security): $428,633
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North Port, Florida
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Annual cost of living: $33,288
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Cost of 20 years of retirement (after Social Security): $185,194
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Tavares, Florida
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Annual cost of living: $39,374
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Cost of 20 years of retirement (after Social Security): $306,900
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Orange Park, Florida
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Annual cost of living: $45,893
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Cost of 20 years of retirement (after Social Security): $437,281
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South Boston, Virginia
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Annual cost of living: $46,217
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Cost of 20 years of retirement (after Social Security): $443,767
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White Oak, Pennsylvania
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Annual cost of living: $46,269
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Cost of 20 years of retirement (after Social Security): $444,809
Editor’s note: Photos are for representational purposes only and might not reflect the exact locations listed.
Methodology: For this study, GOBankingRates analyzed cities across the United States to find the best places to retire with $500,000 in savings. Using the 2023 U.S. Census American Community Survey, cities with at least 1,000 residents ages 65 and over were identified. The cost of living was sourced from Sperling’s BestPlaces. National average expenditure costs for retired households were sourced from the Bureau of Labor Statistics Consumer Expenditure Survey for retired consumer units. The average Social Security income was sourced from the Social Security Administration’s Monthly Statistical Snapshot. Using the average Social Security income and the total cost of living, the annual cost of living after Social Security income was calculated. The livability was sourced from AreaVibes and is used to determine the overall quality of life, representing the “best” places. 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 on the East Coast To Retire With $500K in Savings