The most common and most likely answer to this crossword clue is the 5 plus 3 letter word DEATH ROW
I've seen this crossword clue in Financial Times
D
E
A
T
H
R
O
W
More clues leading to the result DEATH ROW
- Part of prison project following suggestion one’s abandoned
- Agreement to save pounds with project creating a bit of a stir?
- In this building, are those inside waiting to buy it?
- Departs for hotel in airport’s final waiting area?
- American police department deliberately lose location of worst offenders
- Hated dreadful brawl in last place to live
- Spot for murderers — each cast supporting director
- Delaware atomic project? That’s the last place to live!
- Terminal waiting area airport designed primarily for hotel
- How trade may be executed in future — taking one from here
Buddy explains!

The straight part
We know that "That’s the last place to live" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case that’s the last place to live = death row.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.