When you're trying to balance a fixed income with an enjoyable retirement, cost of living is a crucial factor to consider. After all, if your daily expenses eat up too much of your budget, you won't be left with much extra for anything fun, to leave an inheritance for your loved ones or even just as a cushion to give you peace of mind. No wonder 67% of people say they'd move to a less expensive location to have a more financially comfortable retirement, according to a survey by Merrill Lynch and Age Wave, a research firm focused on the aging population.

To that end, we identified which of our 50 Best Places to Retire in the U.S. offer below-average living costs for retirees. On top of affordability, all of these places rank well with us, taking into account safety, median incomes and poverty rates for retirement-age residents, as well as residents' sense of well-being and the availability of recreational and health care facilities. And these affordable places to retire are scattered across the nation, offering diverse options from mountains and beaches to small towns and college towns. Take a look at the list.

Charlottesville, Va.

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Renaissance man Thomas Jefferson laid the foundation for the well-rounded city his hometown has become. From his University of Virginia's hollering Hoos to the artists on the downtown promenade, the Charlottesville community is an unexpected blend of Southern charm and liberal edge, a nice choice for a range of retiree personalities. And beyond the college campus and city center, you can find plenty of options for outdoor recreation in the foothills of the Blue Ridge Mountains, including more than 100 miles of of the Appalachian Trail in nearby Shenandoah National Park.

In August 2017, Charlottesville captured national attention when a gathering of white nationalists to protest the removal of a monument to Robert E. Lee turned into a violent rally, injuring dozens of counter-protesters and killing one, Heather Heyer. In general though, the city's violent crime rate is a low 175.4 reported incidents per 100,000 residents, compared with a 297.8 rate for all U.S. cities of similar size, according to the FBI. Charlottesville also ranks fifth for overall well-being, out of all 187 metro areas included in the Gallup-Sharecare Well-Being Index, with above-average scores in all categories, including physical health and resident satisfaction.

Fargo, N.D.

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With its low costs and generous tax situation, North Dakota has consistently ranked highly among our best states for retirement. So we believe spending your golden years in the Peace Garden State to be a financially savvy choice for your retirement destination (albeit perhaps an unorthodox one). And Fargo fits the bill for affordability, with particularly low housing costs for retirees, 14.3% below the national average. Indeed, while the average cost for a private room in a North Dakota nursing home is $11,690 a month, it's just $9,644 a month in Fargo, according to Genworth.

North Dakota State University is based in Fargo and, along with a number of other area colleges, brings with it attractive amenities for retirees and co-eds alike. That includes sporting events and cultural attractions, such as numerous musical and theater performances. Just be sure to bundle up if you venture out in the winter months. The