McAllen Least Costly in US for Retirees

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McAllen has long done its best, and has been quite successful, at attracting Winter Texans to the City of Palms. But now we’re learning that McAllen has been ranked the most affordable place to retire in the United States. Therefore, we suggest that retirees give us another look and perhaps consider living here year-round.

The website analysis by SmartAssets stated that a nest egg of just $369,857 would be sufficient to enjoy a comfortable retirement here, based on the cost of living and current local tax rates. It cited tropical climates, lots of sunshine, low-cost living and lower taxes as making this a wonderful place for seniors to locate permanently.

Compared to Honolulu — which also has great scenery and tropical weather — McAllen is much more affordable. The website says to retire comfortably in Hawaii, a senior needs $1.6 million in savings. Likewise, it dubbed McAllen the “Texas Tropics,” and stated: “Unlike Hawaii, however, you don’t need to be a millionaire to retire in the Texas Tropics.”

The only other Texas cities to make the Top 10 include…

Read more at The McAllen Monitor.

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