The average household of people between 65 and 74 spend $45,633 per year on housing, healthcare, food, and other costs. But, those expenditures vary by location.
MarketWatch ranked the regions of the U.S. where retirement is the least, and most, expensive.
People between 65 and 74 spend only $28,540 in West South Central, which counts Texas, Oklahoma, Louisiana, and Arkansas. West South Central was found to be the cheapest place for retirees, in part due to low housing and healthcare costs. Neighboring East South Central (Mississippi, Alabama, Tennessee and Kentucky) is the second-least expensive region.
New England, at $46,019, was found to be most expensive. Housing costs and healthcare are both pricey in states such as Massachusetts and Maine. The South Atlantic region, which goes from Delaware to Florida, is second-most expensive.
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