New Jersey city ranks among cheapest beach towns for retirement

If it’s all about the location, New Jersey has it!

Retirees looking to live out their golden years on the coast that’s affordable don’t need to relocate to Florida.

There are 50 Cheapest Places To Retire by the Beach and the top 5 spots are not located in the Sunshine state, according to GOBankingRates.

The personal finance website referred to a variety of media outlets, such as Travel + Leisure and U.S. News & World Report, to source these beach towns and factored in the percentage of retirees, average household income, monthly cost of living and livability score across them.

Here’s why this New Jersey city made the list.

 Atlantic City, New Jersey

• Population Ages 65+ of retired people: 16.6%
• Median household income: $41,028
• Monthly cost of living: $3,193
• Livability: 55

Key Findings of the study:

• Florida did not rank in the top five. The five cheapest beachside places are Corpus Christi (Texas), Duluth (Minnesota), Salisbury (Maryland), Atlantic City (New Jersey) and Columbus (Ohio). The monthly cost of living does not exceed $3,300 in these five cities.
• Most of the top 10 beach towns are in the South and on the East Coast.
• Florida is still home to plenty of cheap retirement hotspots.

10 cheapest places to retire by the beach

1. Corpus Christi, Texas
2. Duluth, Minnesota
3. Salisbury, Maryland
4. Atlantic City, New Jersey
5. Columbus, Ohio
6. Pensacola, Florida
7. Ocean Springs, Mississippi
8. Crystal River, Florida
9. Daytona Beach, Florida
10. Jacksonville, Florida