Older workers and retirees looking to shed the burden of home maintenance, or augment their retirement savings with the proceeds from a house sale are choosing to rent. And many millennials have no choice but to rent -- they are stuck in cities with high rents and unable to save for retirement or put a dent in their student loans or accrue money for a down payment on a house.

But no matter the age or circumstances, it's important to choose carefully the cities in which to rent, employment considerations aside. Some cities offer quite reasonable rental rates, while others will eat up income faster than a hungry shark.

U.S. News & World Report took a look at places that scored well in its 2019 ranking of best places to retire that have median rents less than $800 per month.

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.