These Are the Best Cities in the World to Retire for $1,500 or Less a Month

Travel + Leisure

14-07-2025

Getting to a comfortable place financially is certainly the common goal. However, saving up all those dollars and cents so you can enjoy those golden years seems to be getting harder and harder. There is, however, one easy solution: moving to a destination where your money stretches further. And, according to a new list by International Living, there are plenty of places you can live for just $1,500 a month as a senior citizen.
"While the costs of everyday life may be rising back home, there are places overseas where $1,500 a month covers you for housing, healthcare, food, fun … the whole nine yards," the website dedicated to helping expats live their best lives, shared. "And that's for a couple. If you're flying solo, you can call these places home for even less."
According to the site, the Iberian Peninsula reigns supreme when it comes to affordable retirement living. It named Bragança, a city in northern Portugal, as a top spot thanks to its furnished apartments, which can be rented for about $400 to $500 a month.
It also noted that the cost of living here is also rather affordable, with electricity, water, and internet costing about $150 a month. Access to health care is also easy, thanks to private health insurance, which costs around $100 a month. Add in a $400 food budget and $30 for transportation, and you're squared away for a retirement under $1500 a month.
Also joining Bragança is the city of Covilhã, located in central Portugal, where you can also find one-bedroom apartments for about $500 a month. Here, International Living shared, a meal out at an inexpensive restaurant can go for as little as $8.50 per person, while groceries remain affordable, too, with "a liter of milk, a loaf of bread, a dozen eggs, a pound of beef, a pound of cheese, and a bottle of wine" totaling around $15. International Living added, "With utilities (electricity, phone, Internet) averaging $175, a couple can live comfortably within a $1,500 budget while still having funds for travel and savings."
Joining Portugal are three destinations in Spain, including Oviedo, close to the Bay of Biscay, where retirees can snag a furnished one-bedroom apartment for about $630 per month, while utilities average about $185, and a monthly public transportation pass costs $34. Alicante, Spain, also made the list, where you can get a city apartment or an ocean-view spot for less than $700 a month. Granada, Spain, rounded out the list; here you can get a city apartment for $600 a month and the overall cost of living for two people averages just $1,000 a month.
Of course, there are other places outside the peninsula that made the list, including several spots in Mexico, Malaysia, and more spread across Asia.
See all the places you can move for an affordable retirement at internationalliving.com.