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The 50 cheapest places to retire

GOBankingRates Logo By Terence Loose of GOBankingRates | Slide 1 of 51: Senior couple riding bicycles

These affordable cities are anything but dull

If you're looking for the best places to retire on a fixed income, you will find many cheap places to live in the U.S. To find the cheapest places to retire, GOBankingRates studied three cost-of-living indexes from Numbeo, an independent, data-driven website that tracks cost of living.

We then used Bureau of Labor Statistics data on average consumer expenditures for Americans aged 65 and older — along with the BLS average cost-of-living, rent and grocery indexes — to further zero in on cheap places for retirees. In our analysis, we looked at large cities and estimated what seniors can expect to pay on average.

What we found might surprise you. The list of the cheapest places to retire does not double as a list of dullest places to retire. These cities are as vibrant as they are affordable, with everything from natural beauty and colorful histories to world-class culture and amenities.

Click ahead to check out the full list, which is ranked from No. 50 to No. 1.

© iStock.com / Kzenon

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