Retirement Retired Life

8 Mountain Towns That are Getting Too Expensive for Retirees (Plus Some Affordable Alternatives)

The cost of living might be too high in these areas, but there’s always an alternative nearby.

middle age cheerful people smiling and looking at the the trees
Updated Oct. 1, 2024
Fact checked

We receive compensation from the products and services mentioned in this story, but the opinions are the author's own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

If you love living near mountains, you’re not alone. Because it’s a popular destination, finding an affordable retirement city with the natural beauty you crave can be tricky. 

Retiring with the right amount of money has never become more important, and these cities have become too expensive. 

Still, there are other mountain towns to consider nearby that can help you enjoy a stress-free retirement. Here are our picks.

If you’re over 50, take advantage of massive travel discounts and trip-planning resources

Over 50 and love traveling? Join AARP today — because if you’re not a member, you could be missing out on huge travel perks. When you start your membership today, you can get discounts on hotels and resorts, airfare, cruises, car rentals, and more.

How to become a member today:

  • Go here, select your free gift, and click “Join Today”
  • Create your account (important!) by answering a few simple questions
  • Start enjoying your discounts and perks!

An AARP membership not only unlocks discounts that could save you hundreds on your next trip, but you’ll also have access to deals on vacation packages, guided tours, and exclusive content to help plan your next getaway.

Important: Start your membership by creating an account here and filling in all of the information (do not skip this step!). Doing so will allow you to take up to 25% off your AARP membership, making it just $12 per year with auto-renewal.

Become an AARP member now

Nashville, Tennessee

andreykr/Adobe downtown Nashville cityscape at night

If you love country music and good food, you probably love Nashville. 

But the city has grown dramatically over the last few years, and the cost of housing and other goods has risen, too. You'll be able to stretch your retirement savings by choosing other retirement options.

Alternative: The nearby city of Knoxville seems like it could be a good fit. The city itself hosts 112 miles of hiking trails and is only an hour’s drive from Great Smoky Mountain National Park.

Denver, Colorado

Kevin Ruck/Adobe Denver Colorado USA drone aerial skyline

Over the past decade, people have become wise to the charms of Colorado. Hiking, skiing, natural beauty, and endless recreation opportunities make the state a hub for retirees. 

But if you had your heart set on Denver, you might want to reconsider. The cost of living has risen dramatically over the last few years, and living there on a fixed income might be challenging.

Alternative: You might want to consider Colorado Springs. It’s a beautiful mountain town with the same natural beauty but a better cost of living. You can have all the same perks as Denver for less. Plus, it’s less crowded.

Boise, Idaho

SeanPavonePhoto/Adobe view of a boise, idaho with mountains in the background

If you’ve ever dreamed of moving to Idaho and living among the state’s rivers, lakes, and snow, you’re not alone. 

Residents from more expensive states have been flocking to Idaho over the past few years, raising the cost of living. 

Alternative: Even though Boise might be too expensive for retirees, Idaho Falls might not. With a thriving arts culture and excellent medical facilities, Idaho Falls is a great spot for retirees.

Earn a $250 travel bonus with this incredible card

There's a credit card that's making waves with its amazing bonus and benefits. The Bank of America® Travel Rewards credit card has no annual fee and you can earn 25,000 bonus points after spending $1,000 in purchases in the first 90 days of account opening.

You can earn additional points just by using this card for your everyday purchases — unlimited 1.5 points per $1 spent on all purchases. The 25,000 bonus points can be redeemed for a $250 statement credit toward travel or dining purchases.

If you want to travel and dine out more, the Travel Rewards card can help you get where you want to go.

The best part? There's no annual fee.

Click here to apply now.

Flagstaff, Arizona

Matt Gush;Adobe Aerial view of the city of Flagstaff in Arizona

If you’re interested in mountain living, you’ve probably had Flagstaff on your radar. It’s a bustling area with great outdoor activities and access to endless hiking opportunities. 

It sounds like an excellent spot for retirement. But the part that’s not great? The cost of living. It’s expensive to lie next door to the Grand Canyon.

Alternative: If your heart is set on mountain life during your golden years, you might want to consider Tucson instead. It boasts similar amenities and enjoys beautiful mountain vistas, but the cost of living is 19.4% less, largely due to cheaper housing.

Park City, Utah

Kevin Ruck/Adobe downtown Park City Utah

Park City, Utah, is one of the top skiing destinations in the country. It’s easy to understand why — the air is crisp, and the sun is bright. 

Plus, there are great amenities for shopping and anything else you could desire, and it’s home to the Sundance Film Festival. But it comes with a steep price tag and might not be the best option for retirees on a fixed income. 

Alternative: Provo is an overlooked mountain town with access to the same outdoor beauty but for a lower cost. Plus, it’s less crowded with tourists. It’s a win-win.

Lake Tahoe, California

davyladd/Adobe Lake Tahoe, United States

Even if you’ve never heard of this mountain town, you’ve probably seen photos of its glistening lake and stunning mountains. 

The cost of living in California is high in most areas, but Tahoe real estate is expensive. It’s a tough place to live on a budget.

Alternative: Lake Arrowhead is another California gem. It’s more than seven hours south of Lake Tahoe but boasts a gorgeous lake and mountains for hiking. 

It might be a great fit if you’re looking for a cheaper spot — by California standards — although by most standards, it’s still pretty expensive.

Asheville, North Carolina

Kevin Ruck/Adobe Asheville North Carolina

With a bustling outdoor scene and delicious dining options, Asheville is a great spot to visit and live. But the beauty of the city comes at a price. As the city’s reputation has taken off, so has the cost of living.

Alternative: You might want to consider Hendersonville instead. It’s a quaint mountain town with a much smaller population, but that’s part of its charm. Escape the high cost of living and opt for a slow pace of life in retirement instead.

Spokane, Washington

Brandon Mauth/Adobe panoramic shot of medieval buildings and springs in spokane

Spokane is usually considered one of the best towns for retirement, and that’s part of the problem. The city was once a hidden gem, but it’s become a well-known destination for retirees. 

As a result, the cost of living has drastically increased, requiring many to earn extra cash to make ends meet.

Alternative: You might consider Grandview instead. Located near Yakima, east of the Cascade Range, its cost of living, including housing, is less than the average for the U.S. and Washington. 

Bottom line

Alexander/Adobe  elderly couple go hiking in the mountains

Finding the perfect place to retire is nearly impossible, especially when searching for an affordable mountain town or city. 

But even if your retirement readiness is better than most, it’s still a good idea to stretch your money as much as possible. With a little research into some outside-the-box ideas, you can find a spot that’s perfect for you.

Easy-to-Earn Unlimited Rewards

Benefits

Card Details

  • $0 annual fee
  • Simple, flat-rate rewards
  • Flexible redemption options
  • Up to 75% preferred Rewards bonus potential
  • Apply Now
  • Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
  • 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
  • Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
  • Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
  • 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.74% - 28.74% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
  • If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
  • Contactless Cards - The security of a chip card, with the convenience of a tap.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Bank of <span class='whitespace-nowrap'>America<sup>®</sup></span> Travel Rewards credit card
4.1
info
Apply Now

on Bank of America’s secure website

Read Card Review

Intro Offer

Earn 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases

Annual Fee

$0

+

Why we like it