Cedar City Utah Named A Top Mountain Town For Retirees On $50,000

Apparently, you don't have to be a millionaire to retire like one. At least that's the conclusion of a new financial publication that has put Cedar City, Utah, at the top of its list of 12 mountain towns where retirees can live like millionaires on $50,000 a year.

FinanceBuzz recently examined mountain communities across the country, looking for places where retirees can enjoy the scenery, recreation and lifestyle associated with mountain living without having to spend a fortune to do it. Cedar City came out as one of the best in America.

Seniors sharing a photograph while having tea — Photo by Vitaly Gariev on Unsplash

According to the publication, the average home price in Cedar City is approximately $403,487, while average monthly rent comes in at about $1,470. FinanceBuzz suggests that a $50,000 annual retirement budget, or roughly $4,167 per month, can provide a comfortable lifestyle in the community.

Four Seasons, University, National Parks, Cedar Has It All

The appeal isn't difficult to understand. Cedar City offers four distinct seasons, access to outdoor recreation, and a location that puts some of Southern Utah's most spectacular scenery within relatively easy reach. Brian Head Resort is just up the mountain, while national parks, red-rock country and numerous hiking and fishing opportunities are part of the surrounding landscape.

There's also the university-town atmosphere provided by Southern Utah University, along with community events and cultural opportunities that can make a smaller city attractive to retirees.

man and woman walking on the street during daytime — Photo by Mark Timberlake on Unsplash

And while Cedar City isn't exactly immune to rising housing costs and the general expense of living, it can look comparatively affordable next to some of the better-known mountain resort communities in the West.

KSUB 590/107.3

Of course, there is a little headline embellishment involved in the idea of living like a millionaire on $50,000. Nobody is suggesting retirees will be buying second homes, driving luxury automobiles or spending the winter in the Caribbean on that budget. And individual expenses, particularly healthcare, housing and travel, can make a considerable difference in retirement.

Still, national recognition is worth something, particularly when it puts Cedar City in a favorable light. Communities with mountain scenery and recreational opportunities often come with mountain-sized price tags. FinanceBuzz appears to believe Cedar City offers a different proposition.

Elderly couple smiling while looking at laptop together — Photo by Vitaly Gariev on Unsplash

So if you've been thinking about retirement, perhaps you don't need to sell everything, move to a beach somewhere and hope your savings hold out. You might just consider staying right here in Southern Utah.