Retirement Social Security

10 Colorado Cities Where You Can Live on Nothing but Social Security

Colorado is a notoriously expensive place to live, but some places offer affordable housing prices.

By Laura Gesualdi-Gilmore

Edited by Chris Kissell

Updated Jan. 22, 2025

There are plenty of reasons to consider moving to Colorado for retirement, with an abundance of natural beauty and outdoor recreation opportunities chief among them.

Unfortunately, the state has become notoriously expensive for both homeowners and renters. However, there are still some cities in Colorado where you can stretch your retirement dollars further.

With the average retiree receiving a little more than $1,900 in Social Security each month, here are 10 cities in Colorado where it's possible to live on just your benefit.

Median home prices come from Redfin and median rental prices come from Zillow.

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Alamosa

Median home price: $283,000

Median rent: $1,250

Located in south-central Colorado, Alamosa offers many perks for retirees hoping to live on Social Security. Affordability is a big seller, but so is natural beauty.

Alamosa maintains a small-town feel, with a population under 10,000. It also has beautiful views of the Sangre de Cristo Mountains.

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Cañon City

Median home price: $297,400

Median rent: $1,225

Cañon City is located in central Colorado, not far from Colorado Springs. While it is one of the more expensive destinations on this list, it does have quite a lot going for it to attract retirees.

The beauty of the Royal Gorge and the Rocky Mountains — as well as the city's ability to maintain a distinctly small-town feel — will appeal to many.

Clifton

Median home price: $330,000

Median rent: $1,295

Clifton is a Census-designated place located in Colorado's Mesa County. It's not far from the state's western border with Utah and offers relatively low cost of living and home prices.

It is much quieter than nearby towns and offers proximity to James M. Robb Colorado River State Park, which has plenty of opportunities for hiking, biking, fishing, and more.

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Cortez

Median home price: $291,000

Median rent: $1,300

Cortez is in the southwest corner of Colorado and offers a low cost of living, a small-town feel, and proximity to all the wonders of Mesa Verde National Park.

The city borders Utah, Arizona, and New Mexico, and is an ideal place to retire for those who want affordability with a sense of adventure.

Fort Morgan

Median home price: $376,225

Median rent: $1,000

Homes are a bit pricier in Fort Morgan, a small town located in the northeast corner of Colorado. Still, it's a relatively affordable area where Social Security dollars will stretch far.

Fort Morgan gives residents easy access to Denver and Boulder. If you're not looking to buy, average rents are quite low, hovering around $1,000 monthly.

Lamar

Median home price: $222,000

Median rent: $1,400

Lamar is located in southeast Colorado, not far from the state's border with Kansas. While rent prices are on the high end for this list, it offers a very competitive median home price.

The city prides itself on being "in the middle of everywhere," with two major highways running through Lamar's downtown. It is an ideal blend of rural living with a close-knit, small-town atmosphere.

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La Veta

Median home price: $171,000

Median rent: $895

La Veta has low housing prices whether you are looking to rent or buy. It has less than 1,000 people and offers easy access to the Spanish Peaks in the southern part of the state.

The town makes for a nice, quiet, and quite affordable area for retirees looking to relax during their golden years.

Pueblo

Median home price: $252,000

Median rent: $1,250

Pueblo offers a mix of affordable homes and rentals, natural beauty, and access to draws like the Historic Arkansas Riverwalk.

While it is located in the southern part of the state, it is not far from Colorado Springs — and home prices hover around $250,000, according to data from Redfin.

San Luis

Median home price: $140,000

Median rent: $1,600

San Luis is a very small town near Colorado's southern border. Less than 600 people live in the town, according to the most recent Census data.

The small population makes it an ideal retirement location for those looking for proximity to natural beauty, affordable home prices, and plenty of peace, quiet, and serenity.

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Walsenburg

Median home price: $90,000

Median rent: $1,100

Walsenburg is located in southeast Colorado and provides an escape from some of the hustle and bustle of the state's larger cities.

It's not far from the border with New Mexico and offers residents an array of natural beauty, a small-town feel, and the lowest median home price on this list, which can help boost your financial fitness.

Bottom line

For those looking to relocate, calculating home prices and general cost of living is an important part of the plan as you set yourself up for retirement.

Colorado may not be on your radar when it comes to affordability, yet there are some cities that maintain low home prices while still offering abundant natural wonder.

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