1. El Paso, Texas
- Average housing cost: $550
- Population age 65 or older: 11.2
- Walkability score: 41
- Safety score: 29
Our top pick for best places to retire where rent is under $1,000 is also the least expensive on the list — El Paso, Texas — where the average rent is only $550 per month. El Paso also received the highest safety score, 29, on this list. Situated along the waters of the Rio Grande, the low cost of living is matched with a plethora of natural wonder and outdoor amenities. There’s something for everyone, such as hiking, backpacking, biking, horseback riding, climbing and bouldering.
El Paso is perfect for people who enjoy a Mexican flair as the city is located in west Texas, right where Texas, New Mexico and Mexico meet. The top industries are healthcare, education and the military. Many residents speak both English and Spanish.
Next Up: Top Retirement Communities in America and the Cost to Call Them Home
Methodology: GOBankingRates.com used the following factors to identify the best places to retire on $1,000 a month: 1) average rental prices for 1-bedroom apartments pulled from Zillow data for March 2017-May 2017 (the average was used for each city); 2) age population of those 65 and older sourced from 2010 U.S. Census data; 3) safety score sourced from Neighborhood Scout; and 4) walkability score sourced from Walk Score.