Oct 1, 2026

6 Cities Where a $1.5M Retirement Nest Egg Lasts the Longest

A $1.5 million retirement nest egg stretches further in some parts of the country than others. Housing costs, everyday expenses and taxes can all affect how much retirees need to withdraw from savings every year.

For retirees looking for a lower cost of living, some cities stand out. Here are six cities where $1.5 million in retirement savings could last the longest.

Explore More: How Long $1M in Retirement Savings Will Last in Every State

1. Toledo, Ohio

Toledo, Ohio, has a cost of living 15% below the national average and 6% lower than the rest of the state, according to the Economic Research Institute (ERI). The average Toledo home value is $133,536, well below the national average of $368,697, per Zillow, while RentCafe reported an average rent of $998. Ohio also doesn't tax Social Security benefits, according to the Ohio Department of Taxation, which could help retirees stretch their income further.

2. Wichita, Kansas

The cost of living in Wichita, Kansas, is 13% below the national average and 1% higher than the state average, ERI reported. Data from Zillow shows the average home value is $207,080. Rent is also affordable, averaging around $950 per month, about 4% below the national average of $1,7050, according to RentCafe figures cited by The Wall Street Journal. The Journal also reported that utilities, food and transportation costs are lower in Wichita than in the U.S. overall.

3. Oklahoma City, Oklahoma

Oklahoma City is slightly more expensive than the state average, but the cost of living is 15% below the national average, ERI reported. Home values average $207,421, per Zillow, and average apartment rent is $1,068, according to RentCafe. The Greater Oklahoma City Chamber noted that housing costs, along with stable food and energy prices, mostly drive affordability.

4. Tulsa, Oklahoma

Tulsa, the second-largest city in Oklahoma, is also known for its affordability. ERI reported that the cost of living is 9% cheaper than the national average, but it’s 8% higher compared to Oklahoma overall. If you want to buy a house, the average value is $220,221, according to Zillow, while RentCafe reported an average rent of $1,028 for an apartment.

5. Little Rock, Arkansas

The cost of living in Little Rock, the capital of Arkansas, is 1% above average compared to the state, but it’s 15% below the national average, ERI reported. The average home value is about the same as Tulsa, around $221,588, Zillow reported.

According to RentCafe, the average rent for an apartment in Little Rock is $1,098. Arkansas is also tax-friendly for retirees. There are no Social Security taxes, and the state has one of the lowest average effective property tax rates in the country, according to the Tax Foundation.

6. Fort Wayne, Indiana

If you’re thinking of moving to Fort Wayne, Indiana, the cost of living is 9% below the national average, and 2% above the state average, ERI reported. Home values average around $248,442, per Zillow, and RentCafe has the average rent listed at $1,193. Unbiased noted that housing and healthcare costs are generally more affordable here than in other states.

This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.

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Written by

Josephine Nesbit

Edited by

Zuri Anderson