Pennsylvania has repeatedly been ranked among the best places to retire in the U.S. for myriad reasons. For many retirees, Pennsylvania has major appeal as a retirement destination because it’ doesn’t tax retirement funds, like pensions and Social Security. It also has a wide landscape that has the right mix of cities and towns based on your preferences and hobbies.
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So where in the state can a retiree locate and live comfortably on a $2,000 budget? Here are 25 top Pennsylvania locations where you can retire on $2,000 a month.
Renovo
- Population total: 1,081
- Population 65-plus: 230
- Percentage of population 65-plus: 21.3%
- Household total: 533
- Household median income: $28,750
- Household average value May 2024: $62,795
- Mortgage monthly average cost: $374
- Expenditure monthly average cost: $1,702
- Total monthly cost of living: $2,076
- Total annual cost of living: $24,913
- Total monthly cost of living after Social Security benefits (one person): $208.24
- Total annual cost of living after Social Security benefits (one person): $23,045.03
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Hermitage
- Population total: 16,216
- Population 65-plus: 4,372
- Percentage of population 65-plus: 27.0%
- Household total: 7,631
- Household median income: $66,922
- Household average value May 2024: $201,521
- Mortgage monthly average cost: $1,201
- Expenditure monthly average cost: $1,615
- Total monthly cost of living: $2,815
- Total annual cost of living: $33,781
- Total monthly cost of living after Social Security benefits (one person): $947.24
- Total annual cost of living after Social Security benefits (one person): $31,913.04
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North Belle Vernon
- Population total: 1,598
- Population 65-plus: 325
- Percentage of population 65-plus: 20.3%
- Household total: 750
- Household median income: $51,293
- Household average value May 2024: $133,365
- Mortgage monthly average cost: $795
- Expenditure monthly average cost: $1,667
- Total monthly cost of living: $2,461
- Total annual cost of living: $29,533
- Total monthly cost of living after Social Security benefits (one person): $593.26
- Total annual cost of living after Social Security benefits (one person): $27,665.26
Brackenridge
- Population total: 3,214
- Population 65-plus: 675
- Percentage of population 65-plus: 21.0%
- Household total: 1,551
- Household median income: $49,388
- Household average value May 2024: $114,500
- Mortgage monthly average cost: $682
- Expenditure monthly average cost: $1,690
- Total monthly cost of living: $2,372
- Total annual cost of living: $28,464
- Total monthly cost of living after Social Security benefits (one person): $504.18
- Total annual cost of living after Social Security benefits (one person): $26,596.35
Arnold
- Population total: 4,778
- Population 65-plus: 873
- Percentage of population 65-plus: 18.3%
- Household total: 2,107
- Household median income: $38,150
- Household average value May 2024: $77,462
- Mortgage monthly average cost: $461
- Expenditure monthly average cost: $1,651
- Total monthly cost of living: $2,112
- Total annual cost of living: $25,345
- Total monthly cost of living after Social Security benefits (one person): $244.26
- Total annual cost of living after Social Security benefits (one person): $23,477.24
Luzerne
- Population total: 2,718
- Population 65-plus: 619
- Percentage of population 65-plus: 22.8%
- Household total: 1,403
- Household median income: $39,471
- Household average value May 2024: $146,881
- Mortgage monthly average cost: $875
- Expenditure monthly average cost: $1,676
- Total monthly cost of living: $2,551
- Total annual cost of living: $30,616
- Total monthly cost of living after Social Security benefits (one person): $683.47
- Total annual cost of living after Social Security benefits (one person): $28,747.80
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Erie
- Population total: 94,826
- Population 65-plus: 14,731
- Percentage of population 65-plus: 15.5%
- Household total: 39,180
- Household median income: $43,135
- Household average value May 2024: $179,316
- Mortgage monthly average cost: $1,068
- Expenditure monthly average cost: $1,615
- Total monthly cost of living: $2,683
- Total annual cost of living: $32,199
- Total monthly cost of living after Social Security benefits (one person): $815.43
- Total annual cost of living after Social Security benefits (one person): $30,331.24
Port Carbon
- Population total: 1,748
- Population 65-plus: 416
- Percentage of population 65-plus: 23.8%
- Household total: 798
- Household median income: $54,706
- Household average value May 2024: $118,016
- Mortgage monthly average cost: $703
- Expenditure monthly average cost: $1,781
- Total monthly cost of living: $2,484
- Total annual cost of living: $29,808
- Total monthly cost of living after Social Security benefits (one person): $616.19
- Total annual cost of living after Social Security benefits (one person): $27,940.37
Hydetown
- Population total: 647
- Population 65-plus: 183
- Percentage of population 65-plus: 28.3%
- Household total: 286
- Household median income: $45,179
- Household average value May 2024: $112,739
- Mortgage monthly average cost: $672
- Expenditure monthly average cost: $1,684
- Total monthly cost of living: $2,356
- Total annual cost of living: $28,267
- Total monthly cost of living after Social Security benefits (one person): $487.78
- Total annual cost of living after Social Security benefits (one person): $26,339.45
Corry
- Population total: 6,209
- Population 65-plus: 1,508
- Percentage of population 65-plus: 24.3%
- Household total: 3,004
- Household median income: $44,138
- Household average value May 2024: $143,108
- Mortgage monthly average cost: $853
- Expenditure monthly average cost: $1,633
- Total monthly cost of living: $2,485
- Total annual cost of living: $29,823
- Total monthly cost of living after Social Security benefits (one person): $617.41
- Total annual cost of living after Social Security benefits (one person): $27,955.01
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Warren
- Population total: 9,353
- Population 65-plus: 1,986
- Percentage of population 65-plus: 21.2%
- Household total: 4,303
- Household median income: $49,609
- Household average value May 2024: $148,004
- Mortgage monthly average cost: $882
- Expenditure monthly average cost: $1,678
- Total monthly cost of living: $2,560
- Total annual cost of living: $30,718
- Total monthly cost of living after Social Security benefits (one person): $692.03
- Total annual cost of living after Social Security benefits (one person): $28,850.44
Franklin
- Population total: 6,066
- Population 65-plus: 1,323
- Percentage of population 65-plus: 21.8%
- Household total: 2,676
- Household median income: $54,235
- Household average value May 2024: $129,370
- Mortgage monthly average cost: $771
- Expenditure monthly average cost: $1,588
- Total monthly cost of living: $2,359
- Total annual cost of living: $28,308
- Total monthly cost of living after Social Security benefits (one person): $491.16
- Total annual cost of living after Social Security benefits (one person): $26,440.09
Altoona
- Population total: 43,821
- Population 65-plus: 7,628
- Percentage of population 65-plus: 17.4%
- Household total: 18,418
- Household median income: $50,435
- Household average value May 2024: $140,427
- Mortgage monthly average cost: $837
- Expenditure monthly average cost: $1,624
- Total monthly cost of living: $2,461
- Total annual cost of living: $29,527
- Total monthly cost of living after Social Security benefits (one person): $592.75
- Total annual cost of living after Social Security benefits (one person): $27,659.14
Monessen
- Population total: 6,876
- Population 65-plus: 1,602
- Percentage of population 65-plus: 23.3%
- Household total: 3,236
- Household median income: $51,364
- Household average value May 2024: $81,437
- Mortgage monthly average cost: $485
- Expenditure monthly average cost: $1,622
- Total monthly cost of living: $2,107
- Total annual cost of living: $25,290
- Total monthly cost of living after Social Security benefits (one person): $239.64
- Total annual cost of living after Social Security benefits (one person): $23,421.79
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Johnstown
- Population total: 18,429
- Population 65-plus: 3,599
- Percentage of population 65-plus: 19.5%
- Household total: 9,061
- Household median income: $33,466
- Household average value May 2024: $96,651
- Mortgage monthly average cost: $576
- Expenditure monthly average cost: $1,698
- Total monthly cost of living: $2,274
- Total annual cost of living: $27,288
- Total monthly cost of living after Social Security benefits (one person): $406.14
- Total annual cost of living after Social Security benefits (one person): $25,419.86
Oil City
- Population total: 9,599
- Population 65-plus: 1,882
- Percentage of population 65-plus: 19.6%
- Household total: 4,054
- Household median income: $48,632
- Household average value May 2024: $89,460
- Mortgage monthly average cost: $533
- Expenditure monthly average cost: $1,602
- Total monthly cost of living: $2,135
- Total annual cost of living: $25,614
- Total monthly cost of living after Social Security benefits (one person): $266.71
- Total annual cost of living after Social Security benefits (one person): $23,746.62
Farrell
- Population total: 4,280
- Population 65-plus: 996
- Percentage of population 65-plus: 23.3%
- Household total: 1,976
- Household median income: $29,063
- Household average value May 2024: $59,524
- Mortgage monthly average cost: $355
- Expenditure monthly average cost: $1,581
- Total monthly cost of living: $1,936
- Total annual cost of living: $23,226
- Total monthly cost of living after Social Security benefits (one person): $67.69
- Total annual cost of living after Social Security benefits (one person): $21,358.35
Meadville
- Population total: 12,929
- Population 65-plus: 2,107
- Percentage of population 65-plus: 16.3%
- Household total: 4,812
- Household median income: $46,157
- Household average value May 2024: $148,350
- Mortgage monthly average cost: $884
- Expenditure monthly average cost: $1,647
- Total monthly cost of living: $2,531
- Total annual cost of living: $30,366
- Total monthly cost of living after Social Security benefits (one person): $662.70
- Total annual cost of living after Social Security benefits (one person): $29,498.48
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Uniontown
- Population total: 9,913
- Population 65-plus: 2,092
- Percentage of population 65-plus: 21.1%
- Household total: 4,845
- Household median income: $37,886
- Household average value May 2024: $149,271
- Mortgage monthly average cost: $889
- Expenditure monthly average cost: $1,588
- Total monthly cost of living: $2,477
- Total annual cost of living: $29,728
- Total monthly cost of living after Social Security benefits (one person): $609.47
- Total annual cost of living after Social Security benefits (one person): $27,859.77
Punxsutawney
- Population total: 5,730
- Population 65-plus: 1,533
- Percentage of population 65-plus: 26.8%
- Household total: 2,578
- Household median income: $43,160
- Household average value May 2024: $109,479
- Mortgage monthly average cost: $652
- Expenditure monthly average cost: $1,718
- Total monthly cost of living: $2,370
- Total annual cost of living: $28,441
- Total monthly cost of living after Social Security benefits (one person): $502.26
- Total annual cost of living after Social Security benefits (one person): $26,573.25
Seneca
- Population total: 911
- Population 65-plus: 251
- Percentage of population 65-plus: 27.6%
- Household total: 426
- Household median income: $55,357
- Household average value May 2024: $161,498
- Mortgage monthly average cost: $962
- Expenditure monthly average cost: $1,626
- Total monthly cost of living: $2,588
- Total annual cost of living: $31,054
- Total monthly cost of living after Social Security benefits (one person): $720.00
- Total annual cost of living after Social Security benefits (one person): $29,186.12
New Castle
- Population total: 21,863
- Population 65-plus: 4,002
- Percentage of population 65-plus: 18.3
- Household total: 9,145
- Household median income: $39,948
- Household average value May 2024: $137,741
- Mortgage monthly average cost: $821
- Expenditure monthly average cost: $1,578
- Total monthly cost of living: $2,399
- Total annual cost of living: $28,788
- Total monthly cost of living after Social Security benefits (one person): $531.17
- Total annual cost of living after Social Security benefits (one person): $26,920.19
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Sharon
- Population total: 13,143
- Population 65-plus: 2,541
- Percentage of population 65-plus: 19.3%
- Household total: 6,144
- Household median income: $40,089
- Household average value May 2024: $62,642
- Mortgage monthly average cost: $373
- Expenditure monthly average cost: $1,570
- Total monthly cost of living: $1,943
- Total annual cost of living: $23,321
- Total monthly cost of living after Social Security benefits (one person): $75.59
- Total annual cost of living after Social Security benefits (one person): $21,453.17
Titusville
- Population total: 5,262
- Population 65-plus: 1,250
- Percentage of population 65-plus: 23.8%
- Household total: 2,340
- Household median income: $36,071
- Household average value May 2024: $103,403
- Mortgage monthly average cost: $616
- Expenditure monthly average cost: $1,680
- Total monthly cost of living: $2,296
- Total annual cost of living: $27,557
- Total monthly cost of living after Social Security benefits (one person): $428.59
- Total annual cost of living after Social Security benefits (one person): $25,689.25
Homestead
- Population total: 2,905
- Population 65-plus: 767
- Percentage of population 65-plus: 26.4%
- Household total: 1,264
- Household median income: $29,306
- Household average value May 2024: $82,797
- Mortgage monthly average cost: $493
- Expenditure monthly average cost: $1,745
- Total monthly cost of living: $2,238
- Total annual cost of living: $26,854
- Total monthly cost of living after Social Security benefits (one person): $370.03
- Total annual cost of living after Social Security benefits (one person): $24,986.46
Photo Disclaimer: Please note photos are for representational purposes only. As a result, some of the photos might not reflect the locations listed in this article.
Methodology: For this study, GOBankingRates found the best Pennsylvania cities to retire for $2,000 a month. First, GOBankingRates found cities in Pennsylvania along with their total population, population aged 65 and up, total households, and household median income as sourced from the U.S. Census American Community Survey. To qualify for this study, each city had to have data available for all sources. For each city, a number of factors were found, including cost of living indexes as sourced from Sperling’s BestPlaces, and by using the national average expenditure cost for retired residents, as sourced from the Bureau of Labor Statistics 2022 Consumer Expenditure Survey, the average expenditure cost for each city can be calculated. The average mortgage cost can be calculated by using the Zillow Home Value Index to find the average single-family home value from May 2024. By assuming a 10% down payment and using the national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated for each city. The mortgage and expenditure costs are used to find the average monthly total cost of living. The livability index was sourced from AreaVibes for each city. Three cities qualify for this study without Social Security benefits sorted to show the highest to lowest livability. The average full Social Security benefits for one person were sourced from the Social Security Administration. The monthly total cost of living after Social Security benefits was calculated. The percentage of the population aged 65 and over was scored and weighted at 1.00, the monthly average expenditure cost was scored and weighted at 1.50, the average mortgage cost was scored and weighted at 1.50, and the livability index was scored and weighted at 1.25. All the scores were summed and sorted to show the best places to retire on $2,000 a month after Social Security. All data was collected on and is up to date as of July 12, 2024.
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This article originally appeared on GOBankingRates.com: 25 Best Pennsylvania Cities To Retire on $2,000 a Month
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