WASHINGTON -

After the recession battered the nest eggs of many Baby Boomers, future retirees may be looking for places to live that won't take a big bite out of their budgets. The experts at AARP The Magazine have crunched some numbers looking for the best places to retire on $30,000 a year. One Michigan city made the list, and it's the largest city to make the top five.

To compile the list, editors considered financial factors such as median home prices and property taxes, as well as lifestyle factors such as inexpensive entertainment and restaurants.

The top five cities cover a broad range of geographic choices. Take a look.

 

Daytona/Deltona/Ormond Beach. Retire on the beach on a budget. Here, the median home price is $108,900. If you're looking for cheap eats,try Tia Cori's Tacos on North Beach in Daytona: Tacos start at $1.50; margaritas are $4. Ole!

Pocatello, Idaho. Outdoors enthusiasts may want to consider this Idaho town, population 88,500, for retirement. Median home price is $127,500 in an area with access to skiing, hiking, biking, horseback riding and water sports like white-water rafting.

Bangor, Maine. Another draw for the outdoorsy type with access to hiking trails and water activities. The median home price in Bangor is $110,400, and it has a "lively" arts scene.

*Greenville, S.C. You don't have to give up the city to live cheaply. A lower cost of living attracts retirees to this Southern city, where the median home price is $127,600.

Grand Rapids, Mich. The largest city on AARP's top five list, the median home price is lower than in smaller cities like Greenville and Pocatello, at $114,200. There are inexpensive entertainment options, ticket prices to watch the Grand Rapids Griffins ice hockey team start at $14.

 

To read more about these cities follow this link: http://www.aarp.org/

 

You may also be interested in:

Fidelity sued by employees over its own 401(k) plan

One in 8 workers will never retire

Follow 5 rules to secure financial future