The Surprising Leaders in Affordability

When you picture retirement, what do you see? Perhaps you imagine yourself hiking through lush mountains or kayaking on scenic lakes. Or maybe you see yourself enjoying the sunny shores of a coastal beach—fishing, perhaps, or just resting on the sands with a view of the sea.  

It’s easy to daydream but pinning down an actual location for your retirement vision can be trickier. Which location matches your vision—and most importantly, where can your money go the furthest?

To help inform your decision-making, Investopedia collaborated with Travel + Leisure to identify 50 of the best U.S. cities to retire in. Based on our research, we selected 10 cities in five regions across the U.S. that blend below-average costs living costs, health care access, and cultural and recreational opportunities. 

Top 50 Cities Where Lifestyle & Affordability Meet

Northeast

1. Hermitage, Pennsylvania 

This small town has a median age of 45 and a median household income of $60,614. Golf lovers—you’re in luck: Hermitage has 12 public golf courses, including the world’s only free golf course. 

2. Johnstown, Pennsylvania

Don’t overlook this small town of just 17,809 people. Johnstown also boasts low median housing costs of just $711 and many activities for the outdoor enthusiast, including skiing, fishing, hiking, and more. 

3. Altoona, Pennsylvania

If you are craving a bigger town than our previously mentioned Pennsylvania recs, Altoona might be for you, with a population of 42,418. For history buffs: Altoona owes its origin and growth to the Pennsylvania Railroad, chartered in 1846.

4. Utica, New York

Utica, located just an hour’s drive from Syracuse, offers affordable home prices and reasonable housing costs overall. Oneida County, where Utica is located, offers 379 health care providers such as doctor’s offices, clinics, and home health agencies.

5. Union, New York

Want to live in New York State but avoid the super-expensive housing prices closer to New York City? Union, New York could be for you. Located upstate in the Appalachian Mountains, the town offers median home prices of  $171,100.

6. Springfield, Massachusetts

Springfield is the third-largest city in Massachusetts, with a population of 1,533,337. It’s only 16 miles from Bradley International Airport and offers over 20 hospitals countywide.

7. Conway, New Hampshire

Conway’s median population age skews a bit older at 54, which is nice for those seeking a more laid-back community. Though the population is a small 10,340, there are still over 70 arts and entertainment venues within its county.

8. Vineland, New Jersey

Vineland might not have the lowest median home value on our list at $205,600, but retirees can save on groceries with monthly food costs at a more affordable rate of $620.

9. Concord, New Hampshire

Outside of four beautiful seasons, this capital city offers a solid health care system, with 40 hospitals and about 250 health care providers including doctor’s offices and clinics within its county.

10. Pittsfield, Massachusetts

The cost of living in Pittsfield is higher than others on our list, with a median home value of $266,400. However, the climate risk level is relatively low, and the closest major international airport, Bradley International, is only 41 miles away from its county center.

Southeast

1. Waycross, Georgia

This small town of 13,643 offers affordable housing, with a county median home value at $106,500 and median monthly housing costs of $736. Check out its historic downtown district or Okefenokee swamp lands. 

2. Danville City, Virginia

Danville boasts the lowest transportation costs on our list, with $1,058 monthly costs. Other factors are low, too: county monthly food costs net out at $586 and average monthly taxes at $556.

3. Litchfield Beach, South Carolina

Want pristine beaches? Say no more. Litchfield’s median age is 52, and the population is just 10,393, so you can relax without the crowds that other areas attract.

4. Wheeling, West Virginia

Wheeling is among the lower monthly transportation costs on our list. The climate risk level is also relatively low, which is a plus.

5. Natchez, Mississippi

Set on the Mississippi River, Natchez’s median monthly housing costs are a low $592, and on top of that, Mississippi doesn’t tax Social Security benefits or IRA, 401(k), or pension withdrawals. 

6. Tryon, North Carolina

Craving small-town living? Tyron is for you: it has a population of just 1,620 and a slogan of “The Friendliest Town in the South.” Tyron also has mild weather and a very low climate risk rating.

7. Alexandria, Louisiana

Alexandria has over 400 health care providers including doctor’s offices, clinics, and home health services and 37 hospitals in its county. Louisiana also doesn’t tax Social Security.

8. Sebring, Florida

This small town located in central Florida skews older, with a median population age of 54. Sebring offers low monthly taxes at around $549, and is home to several “lake beaches.”

9. Paducah, Kentucky

Quilting lovers—get excited. Paducah is known as “Quilty City USA.” On top of that, Paducah has low monthly food costs, so you can eat and quilt comfortably.

10. Paris, Tennessee

Bonjour, Tennessee lovers. Paris’s median monthly housing costs are affordable at $643. The overall climate risk rating is relatively low, too.

Midwest

1. Gregory, South Dakota

This tiny town of 1,219 offers low housing prices, with median home values at $129,000. Its climate risk rating is also very low.

2. Toledo, Ohio

Big city lovers, Toledo is for you. With a population of 236,646, it boasts 887 health care providers such as doctors, clinics, and home health agencies and 81 county hospitals. The Toledo Museum of Art has over 30,000 pieces on display.

3. Poplar Bluff, Missouri

Located between St. Louis, Memphis, and Little Rock, Poplar Bluff has our list’s second-lowest county monthly food costs.

4. Corning, Iowa

Corning’s county is 65 miles from Eppley Airport and has a population of just 1,465. Its median home value of $116,900 is among the lowest for midwestern spots. 

5. Farmington, Missouri

Craving low taxes? Residents of St. Francis County where Farmington is located pay among the lowest taxes on our list, sitting at $577 on average per month. Farmington also is home to Indian Lake Park, which is a perfect setting for your swimming and canoeing dreams.

6. Youngstown, Ohio

This large town of 58,847 sits in Mahoning County, which only 46 miles from Pittsburgh International Airport. It’s also home to the Butler Institute of American Art, founded in 1919. 

7. Bay City, Michigan

This 31,905-person waterfront town offers an affordable spot for those who want to live in Michigan.

8. Mason City, Iowa

Mason City has a rich musical heritage and offers homes for less than $155,000. Iowa also doesn’t tax Social Security benefits or 401(k) withdrawals.

9. Saginaw, Michigan

Saginaw offers over 400 health care providers including doctor’s offices and clinics and has a median age that skews younger—41 years old.

10. Muncie, Indiana

This large town offers great affordable housing options and is home to Ball State University.

Southwest

1. Las Vegas, New Mexico

While you won’t find the glitz and glitter of Las Vegas, Nevada in this small town of 12,814 people, you will find some of the lowest median housing and transportation costs on our list.

2. Santa Rosa, New Mexico

This itty-bitty town of just 2,742 has a very low county climate risk score. Santa Rosa offers scuba diving, horseback riding, and golf, too.

3. Hugo, Oklahoma

Hugo’s median monthly housing costs of $608 are among the lowest among these 50 places. Plus, Oklahoma doesn’t tax Social Security benefits.

4. Port Arthur, Texas

Home to delicious Cajun seafood, this large town of 55,393 has some of the lowest monthly grocery costs on our list.

5. Eagle Pass, Texas

Eagle Pass’s county boasts the lowest monthly taxes of all 50 places on our list. The median age is also the lowest on the list, at a hair above 30.

6. Longview, Texas

Though the median home value is among the highest in the Southwest, at $185,800, the median household income is also the highest in the Southwest, at $64,809.

7. Parker, Arizona

Overlooking the Colorado River, Parker has the second-lowest median monthly housing cost on the list, at $539.

8. Albuquerque, New Mexico

Albuquerque is New Mexico’s largest city, with a population of 558,736. You can reap the advantages a big city offers, such as being only 4 miles from Albuquerque International Sunport Airport, having access to over 1,500 health care providers, and enjoying low average monthly transportation costs of $1,081 (the second lowest on this list.)

9. Muskogee, Oklahoma

Located 53 miles southeast of Tulsa, Muskogee is below the median for home values on the southwestern part of our list, with prices at $138,800.

10. Lake Havasu City, Arizona

With a county median age of 53, this large town is retirement-friendly, offering bird-watching, water activities, and golfing.

West

1. Pocatello, Idaho

Pocatello offers 416 health care providers and 17 county hospitals. Furthermore, history lovers can check out the Idaho Museum of Natural History, located on Idaho University’s Pocatello campus. 

2. Butte-Silver Bow, ​​Montana

Low climate risk and beautiful hiking? Check out Butt-Silver Bow, which also offers the lowest median monthly housing costs on our western list.

3. Twin Falls, Idaho

Home to the Shoshone Falls, a waterfall known as “the Niagara of the West,” Twin Falls has a relatively low climate risk and manageable cost of living.

4. Pomeroy, Washington

Pomeroy has the second-lowest monthly housing costs of our western picks. With a population of just 1,439, it is perfect for the retiree craving small-town living. 

5. Omak, Washington. 

Giddyup, retirees: Home to the Stampede Rodeo, Omak offers sandy beaches plus the lowest county monthly taxes of the Western states on our list.

6. Great Falls, Montana

Home to Great Falls International Airport, Great Falls sits halfway between Glacier National Park and Yellowstone National Park. It also has a relatively low climate risk rating.

7. Carson City, Nevada

While Carson City’s median home values are the highest on the whole list at just under $400,000, Nevada doesn’t tax Social Security benefits or IRA, 401(k), or pension withdrawals. Plus, Carson City’s transportation costs are among the lowest of the western picks.

8. Evanston, Wyoming

Evanston has the highest county median household income of the western list at $82,672. Wyoming doesn’t tax Social Security benefits of IRA, 401(k),  or pension withdrawals.

9. Ontario, Oregon

This small town has the lowest monthly food costs out of the western spots. Ontario has scenic mountain ranges and river canyons—perfect for outdoor enthusiasts. 

10. Pueblo, Colorado

One of the largest cities on our list, Pueblo, has a population of over 100,000. It has over 300 health care providers and an affordable cost of living. Ski lovers can hit the slopes at Monarch Mountain, just two and a half hours away. 

Why Affordability Matters in Retirement

As people live longer, finding an affordable place to retire is more important than ever.

Housing costs are going up, with median home prices up 24% from 2020 to 2024. According to Pew Research, inflation has also increased the cost of food and goods, with 74% of Americans expressing concern over rising prices in late 2024.

Health care is another primary concern, with a typical couple needing over $300,000 for medical expenses in retirement (excluding long-term care).

These expenses can quickly add up, and the cost of living shows no signs of decreasing. Where you choose to retire can have a significant financial impact, so it’s important to prioritize what matters most to you. You may want easy access to a major airport for family visits or focus on finding the most tax-friendly state. Perhaps owning a new home is a dream, so you want the lowest housing costs out there. Everyone has different goals and priorities, so it’s important to weigh these factors when making your decision.

The Bottom Line

With more than half of adults aged 50+ worried about not having enough money to retire comfortably, affordability is key. Our list takes into account factors like housing costs, grocery bills, tax laws, and more to help you make a more informed decision about where to retire. There’s no one-size-fits-all solution, but we hope our list provides a helpful starting point for your retirement planning.