This article takes a look at the 15 best places to retire in Louisiana. If you wish to skip our detailed analysis on navigating a solo retirement in the US, you may go to 5 Best Places to Retire in Louisiana.
The Reality of a Solo Retirement
Two spaces on the bed, two chairs at the dinner table, two pairs of shoes by the door. Life, and consequently retirement, is often thought of as being best lived in pairs. What then happens to the 27% of US adults aged 60 and above who spend retirement alone? This figure, revealed by the Pew Research Center, is the highest in the world. Known as ‘Solo Seniors’, ‘Elder Orphans’, or ‘Solo Agers’, these people wade through all the troubles and turmoils of retirement alone.
First things first – why do so many senior citizens in the US live alone? Well for one, Americans are having fewer children. In a publication by The New York Times Company (NYSE:NYT), it was revealed that the US birth rate began to drop around the year 2007 – and experiences such as the Great Recession and the Pandemic may have deterred people from having children. The New York Times Company (NYSE:NYT) also relayed several other factors that have contributed to a declining birth rate, including women’s growing propensity to work and pursue higher education, the burden of student loans, and America’s high cost of living, including that of childcare.
Secondly, Americans are living longer. In 1950, life expectancy in the US stood at 68.14 years. In 2024, this has grown to 79.25 years, reports the United Nations. By 2050, this number is expected to grow to 83.37 years. Although a positive sign, a longer life leaves more time for unexpected and unwanted happenings to take place – such as the death of a spouse or separation through divorce. This leaves the individual alone in retirement.
However, while Americans may be living longer, they are not necessarily living healthier. Analysis by News Corporation (NASDAQ:NWSA)’s Wall Street Journal revealed that the average American in 2021 was spending 83.6% of their life in good health. This is a 2.2% drop from 1950’s measure of 85.8% of an individual’s life spent while healthy. Not only does this News Corporation (NASDAQ:NWSA) backed data reveal a problem with America’s quality of life, but it also highlights an obstacle that Solo Agers could face.
One possible solution that Solo Seniors could turn to is assisted living, including options such as Brookdale Senior Living Inc. (NYSE:BKD). One of the largest senior living companies in the US, Brookdale Senior Living Inc. (NYSE:BKD) has seven locations in the state of Louisiana itself. However, the option of assisted living has its own issues, with the first being the cost associated with it.
On Making Louisiana Your Retirement Home
Speaking of Louisiana, the state is a commendable retirement location. According to Senior Living, 34.6% of the state’s population is in the 50 and above age category, putting it just under the US average of 35.3%. So, of those who do retire in Louisiana, how do they fare?
Well, the median price for a one-bedroom rental in Louisiana is $1,100, according to Zillow Group, Inc. (NASDAQ:Z). This is 31% lower than the US median of $1,600 – a favorable factor for retirees living on smaller budgets, such as a Social Security income. Similarly, RentCafe states that food cost in the state is 5% lower than the national average. As for taxation policies, Louisiana is among the states that won’t tax Social Security income in 2024. All of this combines to make the state financially friendly towards retirees, particularly those who are retiring with little to no savings. All in all, Louisiana is a good state to live in and a contender for interstate retirement relocations.
To facilitate present and potential retirees in navigating the move to Louisiana state, we have compiled a list of the 15 best places to retire in Louisiana.
Goodluz/Shutterstock.com
Methodology
To compile this list of the 15 best places to retire in Louisiana, we consulted several sources including our lists of 15 Best Places in Louisiana for a Couple to Live on Only Social Security, 18 Best Southern Cities to Retire on a Budget of $1,500 a Month, 15 Affordable Hidden Gem Southern Cities to Retire In, 25 Most Affordable Places to Retire in the U.S. in 2024, 29 US Cities Where You Can Retire on $2000 a Month, NewHomeSource, Niche, Unbiased, U.S. News & World Report, Movoto, and WorldAtlas, to name a few.
Once a list of places was compiled, we ranked them across multiple factors, namely, cost of living, livability scores, and median house price. For this article, livability scores were taken from Area Vibes, median house prices were taken from Redfin Corporation (NASDAQ:RDFN), and the cost of living index was our own. To ensure that the recommended places were of a suitable living standard, we removed places with a livability score of below 65. A cumulative score was then assigned – livability scores were given a double weightage – with the 15 highest-scoring places making our list of the 15 best places to retire in Louisiana. For places that gained an equal score, their cost of living index was used as a tie-breaker. The resulting list is presented in ascending order.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
Here are the 15 best places to retire in Louisiana:
15. Bossier City
Insider Monkey Score: 68
Livability: 70
Cost of Living Index: 89
Median House Price: $233,000
Starting off our list of the best places to retire in Louisiana is Bossier City. With a cost of living that is 11% below the national average, Bossier is a larger city that remains affordable – perfect for retirees who want to experience city retirement without breaking the bank. Residents can shop at the Louisiana Boardwalk Outlets, test their luck at the Louisiana Downs Casino, and grab a bite at Ralph & Kacoo’s.
14. Ruston
Insider Monkey Score: 69
Livability: 65
Cost of Living Index: 79.9
Median House Price: $230,000
Next up is one of the best places to live in Louisiana, the city of Ruston. A small city, Ruston held a population of just under 22,300 at the time of the last United States Census. Not only does this make it the perfect blend of city life and a peaceful retirement, but senior citizens will also not have to venture far to access amenities. With medical centers, shopping centers, grocery options, and a post office, Ruston residents will have everything at hand.
13. New Orleans
Insider Monkey Score: 70
Livability: 75
Cost of Living Index: 107.2
Median House Price: $320,000
One of our more expensive picks, New Orleans offers residents full bang for their buck. The city is located by the Mississippi River, affording residents with stunning water views. Famously known as ‘Big Easy’, New Orleans is best known for its never-ending nightlife, delicious cuisine, and exciting music scene. The city is the perfect pick for senior citizens who want to feel young during retirement, with New Orleans offering an array of entertainment venues including the Mardi Gras festival.
12. Abita Springs
Insider Monkey Score: 70
Livability: 74
Cost of Living Index: 91.1
Median House Price: $335,000
If a retreat into small-town living is what’s on your mind for retirement, then the town of Abita Springs can prove to be your ideal retirement destination. With a population of just over 2,700 at the time of the last United States Census, Abita Springs residents will be able to seek as much alone time as they prefer. Despite its small size, the town offers leisure spots such as the Abita Springs Trailhead Museum, the Abita Springs Art & Farmers Market, and the Abita Springs Cafe.
11. Mandeville
Insider Monkey Score: 72
Livability: 75
Cost of Living Index: 91.8
Median House Price: $360,000
Mandeville is one of the best places to retire in Louisiana for retirees, and the reasons for this are multifold. For one, the city holds a magnificent natural landscape which encompasses a beautiful shoreline from Lake Pontchartrain and huge oak trees. In fact, a specific oak tree known as Seven Sisters Oak on Fountain Street in Mandeville is recognized as the world’s largest southern live oak tree. Of course, another benefit is Mandeville’s low cost of living which makes managing retirement-time finances that much easier.
10. Covington
Insider Monkey Score: 74
Livability: 75
Cost of Living Index: 90
Median House Price: $420,000
With a sparse suburban feel and a small population, the city of Covington is a great find for retirees who want a mix of lively yet laid-back living. Covington residents will find lots to do in the city, including visiting the St Tammany Art Association Art Gallery, The Covington Farmers Market, and the Movie Tavern Covington Cinema. Retirees can also spend time in nature, biking or strolling through the city’s greens.
9. Minden
Insider Monkey Score: 74
Livability: 67
Cost of Living Index: 80.7
Median House Price: $139,000
Known as the ‘Friendliest City in the South’, Minden is a great choice for senior citizens who like to mingle within the neighborhood and keep a healthy social life. Residents can keep themselves busy with a range of activities such as visiting Hinton Memorial Park, visiting the Dorcheat Historical Museum, and or paying a visit to the local Quick Draw Casino. Minden is also near Bossier City – just a 30-minute drive – giving residents the opportunity to spend a day exploring without excessive travel.
8. Eunice
Insider Monkey Score: 76
Livability: 67
Cost of Living Index: 80.6
Median House Price: $129,750
If you’re looking to retire smart in Louisiana, then look no further than the city of Eunice. With a cost of living that is 19.4% lower than the national average, Eunice is one of the cheapest Louisiana locations on our list. Not only is this good news for retirees on a budget but also for those who want to minimize spending on the necessities and instead splurge on luxuries such as travel or retail buys. Residents can explore the city’s museums, country club, and performing arts theater, among other attractions.
7. Sulphur
Insider Monkey Score: 77
Livability: 70
Cost of Living Index: 83.7
Median House Price: $180,000
Famously called the ‘Pride of Southwest Louisiana’, the city of Sulphur attributes its name to the mineral sulfur and its history with the city. From the late 1800s to the early 1900s, the city was known for sulfur mining and was a prominent feature on the international trade map. Nowadays, residents can keep themselves entertained with the city’s many offerings, including a massage spa, a recreation center, and a range of eateries.
6. Lafayette
Insider Monkey Score: 81
Livability: 73
Cost of Living Index: 87.4
Median House Price: $231,750
Set in southern Louisiana, Lafayette is one of Louisiana’s most populated cities with a population of just under 121,500 at the time of the last United States Census. The city is rich with Cajun culture and offers residents delicious food options including Louisiana’s fresh, famed seafood. With a dense suburban environment, the city is best for retirees who like city life and want to spend their retirement years in a happening place.
Click to continue reading and see the 5 Best Places to Retire in Louisiana.
Suggested Articles:
- 15 Best Places to Retire in Oregon
- 15 Countries with the Highest Life Expectancy in Asia
- 15 Problems with Over 55 Communities
Disclosure: none. 15 Best Places to Retire in Louisiana is originally published on Insider Monkey.