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Updated by Soubin Nath on Jul 23, 2015
Headline for Top 10 Most Affordable U.S Cities To Enjoy Retirement
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Top 10 Most Affordable U.S Cities To Enjoy Retirement

Finding a place to retire comfortably -- both physically and financially -- doesn't have to be a daunting task.

Many attractive and interesting cities across the U.S. also offer a low cost of living and manageable tax burden. The upshot: There are a lot of options for soon-to-be retirees looking to keep costs under control while enjoying their golden years.

Source: http://www.cbsnews.com/media

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Pittsburgh

Pittsburgh

Cost of living: 8.5 percent below national average
Median home price: $119,600

Pittsburgh, once a dying steel town, has revitalized itself by investing in both education and medicine, which provide ample quality-of-life services for seniors. The city's respected colleges and universities offer a stimulating intellectual life, while its numerous hospital and health centers offer easily accessible health care.

Indianapolis

Cost of living: 12.8 percent below national average
Median home price: $134,700

Indianapolis offers big-city living at small-city prices. It has a low cost of living, easy access to healthcare and is a good option for retired couples with Midwestern families. Plus, the city's cultural offerings are growing, including the massive Cultural Trail, the Canal and White River State Park and the eclectic Mass Ave arts district. Though the city still has a reputation for being a bit sleepy, it's working hard to change that.

Omaha, Neb.

Cost of living: 11.7 percent below national average
Median home value: $131,400

Coming in at No. 3 in the Milken Institute's Best Cities for Successful Aging report, Omaha ranked high in nearly every one of the survey's categories, including job growth, community engagement to healthcare. Unemployment is low, transportation is easy and the downtown and riverfront areas are revitalizing quickly.

Decatur, Ala.

Cost of living: 10.8 percent below national average
Median home value: $111,000

Decatur, known as "The River City," is located on the banks of Wheeler Lake along the Tennessee River in northern Alabama. The state has some of the lowest taxes, lowest cost-of-living and lowest home prices in the U.S, while temperatures remain relatively warm year-round without getting too hot. Decatur offers a number of cultural attractions, including its large district of Victorian homes and the Cotaco Opera House. It also received one of the highest scores for nursing-home care in the Milken survey, ranking No. 2 among small cities.

Tulsa, Okla.

Cost of living: 11.6 percent below national average
Median home value: $110,000

he Sooner State has been drawing in retirees largely through its financial perks: Social security income isn't taxed, there's no state estate tax and property taxes are low. Cost of living is also low, and so is unemployment, which is good news for those that want to continue working post-retirement. Assisted living costs fall below average as well, according to the Milken survey.

Tampa, Fla.

Cost of living: 7.6 percent below national average
Median home value: $135,000

While other parts of Florida may cater more toward retirees, Tampa is a good option for those who want to retire near the beach, but still have access to urban cultural attractions. Just 11 percent of the population is 65 or older, compared to Florida's average of 17 percent of residents in this age range, according to the Census.

Clarksville, Tenn.

Cost of living: 7 percent below national average
Median home value: $127,800

Tennessee ranked No. 1 on personal finance site Bankrate's list of best places to retire last year, thanks to its low cost of living, minimal tax burden and high-quality healthcare. There's also no state taxes levied on Social Security, salaries, IRAs or pension income.

Corpus Christi/Rockport, Texas

Cost of living: 9 percent below national average
Median home value: $131,600

With more than 28 percent of the population older than 65, Rockport is a thriving retirement community outside Corpus Christi, Texas. Sandwiched between Copano Bay and Aransas Bay, the ocean is never far away, but neither are big city amenities.

Alexandria, La.

Tax burden: Ranked No. 47; 7.8 percent
Cost of living: 4.9 percent below a national average

Louisiana has one of the lowest tax burdens in the nation, and ranked No. 2 on Bankrate's 2013 list of best places to retire. Alexandria has a solid economy and below-average home prices (Data wasn't available for the median home value, but the median price of homes listed on the market this month is $160,000.)

Aiken, S.C.

Cost of living: 6.8 percent below national average
Median home value: $96,600

Aiken is a small town just outside Augusta, Ga., where the Masters Golf Tournament takes place each year, in the center of South Carolina's "Thoroughbred Country." That means there are plenty of opportunities for golf and watching steeplechase horse racing. The city features wooded areas, parks, art museums and historic buildings.