5 Best Texas Cities to Retire on a Budget of $1

As part of your retirement preparations, saving every penny possible is key – but where you choose to live can be just as critical.

GoBankingRates analyzed data from city ranking site AreaVibes and cost-of-living estimates provided by Sperling’s Best Places to determine the five best Texas cities where one could retire on a budget of $1.

1. San Antonio

One of the greatest advantages of retiring in Texas is that state income taxes don’t apply to Social Security benefits, pensions and retirement account withdrawals – meaning you can put more of your earnings towards investing your wealth and growing it further.

This city offers retirees plenty to keep them active during retirement, from upscale boutiques and shopping malls, to the nation’s largest Mexican market and scenic River Walk. Active retirees will find plenty of parks, lakes and trails as well as golf courses within its boundaries.

Killeen in southeast Texas is considered to be one of the top places for retiring on a budget of just one dollar. Thanks to low costs for groceries, housing, utilities and more – such as groceries for less than $15/week! Additionally, its Veteran’s Administration healthcare centers and other programs make Killeen an appealing retirement location.

Killeen offers its residents an affordable housing option: Amberwood at Fall Creek. This gated community consists of 572 attached and single-family homes ranging from 1,739 to 2,6666 square feet in size, boasting amenities like a clubhouse, two 18-hole golf courses, and a pool – making life in Killeen even better!

Yoakum, Texas stands as the third-best place for those on a tight budget to retire on. Residents here can take advantage of low housing costs – median home costs being $520 monthly – while also benefiting from reduced property tax rates that make this place even more appealing.

Alabama is an ideal state in which to retire due to its low costs and favorable tax policies, with Birmingham in particular offering plenty of activities and attractions. From an active arts scene to culinary offerings such as craft beer production – not forgetting its wide array of restaurants, shops, and bars!

2. El Paso

El Paso, Texas stands out as an excellent place to retire on a budget of one dollar. This border city sits along the Rio Grande (Rio Bravo del Norte), across from Ciudad Juarez in Chihuahua, Mexico and is part of an international metropolitan area known as El Paso-Juarez. University of Texas at El Paso can be found here while military training facilities like Fort Bliss extend north into New Mexico’s White Sands Missile Range and Holloman Air Force Base.

El Paso boasts more than just low costs of living; it also has an amazing restaurant scene featuring everything from Tex-Mex favorites to authentic Mexican fare, delicious BBQ joints such as local favorite L&J Cafe serving delicious barbecue sandwiches and burritos.

El Paso boasts an ideal climate for outdoor activities, from the dry and sunny summers to short and moderate winters – it offers something to fit everyone.

El Paso boasts an active cultural scene with events taking place from January through December. Film enthusiasts should visit the Plaza Classic Film Festival every July; dancers will enjoy dancing their hearts out during June’s Viva! El Paso Festival which celebrates Native American, Spanish and Mexican cultures.

El Paso’s proximity to Mexico makes it an ideal location for experiencing both cultures while taking in stunning vistas, as well as closeness to other Texas travel destinations like Midland and Killeen – both less than an hour’s drive from Austin making these cities even more desirable destinations.

3. Houston

Houston is the most populous city in Texas and one of America’s most vibrant metropolises, boasting over 2.5 million people and boasting one of its biggest cosmopolitan communities. A major transportation hub, it features diverse neighborhoods with melting-pot cultures as well as major international trade shows and festivals that draw thousands from all over the globe. Arts scene are an attraction; music and nightlife venues also attract many. Downtown offers theatres that host concerts, independent films and plays while boutique shops and chain eateries can be found there too.

Houston offers a bustling urban environment, boasting a major port, NASA’s astronaut training and flight control complex and a bustling commercial and retail district. But it also makes an affordable place for retirees, with housing costs being significantly less than average and grocery, housing and utility costs falling well below national norms.

Houston is situated in southeast Texas near Galveston Bay. Often referred to as the “Bayou City”, with many bayous providing both saltwater and freshwater fishing opportunities. Though Houston may seem large due to its sprawling metropolis nature, its relatively compact downtown, theater district, historic district with 19th-century architecture and ample green spaces help its inhabitants feel connected with nature despite living such an urban life.

Houston can be an ideal option for those who seek to remain connected with the outside world while enjoying all the comforts of home. Just don’t plan on retiring here if you have respiratory problems; the area can become extremely polluted due to heavy industry and long runs of rain and humidity that create breeding grounds for mosquitos. Killeen is less costly but offers a quieter lifestyle option nearby.

4. Dallas

Dallas is the vibrant capital city of Texas with a diverse population and bustling culture, known for its shopping, restaurants and live music scene – perfect for retirement on a budget! In fact, 22 Fortune 500 companies call Dallas-Fort Worth home; offering plenty of job opportunities as well.

Dallas residents enjoy a low cost of living according to GOBankingRates, with average expenditure for 65-year-old residents totaling $23,759. Median housing costs are also relatively affordable – retirees can anticipate paying roughly $707 monthly in property taxes.

Retirement in Dallas also benefits from not paying state income tax, making your dollars go further. Furthermore, Texas real estate market is more affordable than many states; making it ideal for retirees looking for homes priced under $100Ks.

Fort Worth is one of the premier locations for retirees in Texas, known for its lively culture and bustling business scene as well as low living costs and affordable housing options. Furthermore, Fort Worth serves as a center for outdoor activities and sports enthusiasts.

Granbury in Hood County offers retirees another great choice. Though the city has only a modest population, Granbury boasts many attractions for residents to enjoy and is known for its lively bar and restaurant scene which attracts young professionals.

Cameron is another west Texas town worth considering for retirement, boasting a medium-sized population and an outstanding ratio of doctors. Residents enjoy mild winters with excellent air quality. Plus, property tax rates here are below state average!

5. Austin

Austin offers something for every taste: live music venues, delicious Mexican fare and celebrity chef restaurants as well as food trucks and food truck options aplenty. Furthermore, Austin is well known for its outdoor spaces and parks such as Barton Springs Pool which is fed by natural springs.

Austin, like other college towns, boasts a vibrant and educated workforce. Many companies maintain headquarters or regional offices there, lending the city an air of sophistication and high-tech appeal.

Austin offers an abundance of jobs and universities that attract students from around the country, while its median income of $99,227 and low unemployment rates make living there easier on a budget.

Austin is famous for its eclectic culture, and locals are happy to provide advice about everything from live music venues and restaurants to parks. Newcomers or veterans alike, Austin residents take great pride in showing visitors around.

Home prices in Cameron are significantly below the state average and come in below average on our list of Texas cities to retire in on a budget. Its weather and access to doctors are excellent while libraries, recreational/fitness facilities and grocery stores may leave something to be desired; nevertheless its affordable housing costs and property taxes make Cameron an excellent option for anyone seeking retirement in Texas – not to mention there being no state income or estate tax levied!