10 Retirement Towns Where $150,000 Still Buys a Decent Home

One of the simplest ways to stretch your retirement savings is to spend less on where you live. A lower mortgage or purchase price frees up cash for everything else, from travel to health care to simply enjoying the years you've earned.

And despite decades of rising real estate prices, affordable options still exist. Across the country, retirees could find livable homes in charming retirement towns for around $150,000. Curious how your budget compares? See how your retirement savings stack up, then check out these towns where your dollar could go a lot further.

Editor's Note: All real estate prices come from Zillow, as of June 2026, and cost-of-living figures are from BestPlaces. 

Average home price: $122,841

Nearly 20% of the population is age 65 or older in this city of a little over 21,000, making it a known retirement destination. Along with community and affordability, Ashland is striving to become more walkable and accessible for residents. History, culture, and art can all be found here.

Retirees seeking a small-town vibe with urban amenities are likely to thrive here, as will outdoor enthusiasts and river lovers.

Average home price: $123,251

If you're a hygge adept winter lover who also happens to love boating, Bay City has both options, depending on the time of year. You can also enjoy the riverwalk and stroll through a quaint downtown area.

The cost of living is 18.2% below the national average in Bay City, and the amenities and services of Detroit are only two hours away by car.

Average home price: $137,201

Dubbed the cultural hub of Alabama by residents, Birmingham has thriving cultural, historical, and culinary scenes. The Magic City is also very affordable for retirees thanks to minimal taxes and a low cost of living. The climate is warm year-round.

The University of Alabama at Birmingham promises excellent health care for older adults. Sports fans will enjoy short road trips to nearby Tuscaloosa for Crimson Tide football games.

Average home price: $164,532

The state capital of underrated West Virginia sits on the confluence of the Kanawha and Elk Rivers and is surrounded by rolling hills. The downtown area is walkable and peppered with mom-and-pop shops, adjacent to the University of Charleston.

The cost of living is low in West Virginia, which is attractive to retirees on a fixed income. Over 20% of the population is 65 and over in Charleston, another plus.

Average home price: $117,703

There are several great cities for retirees in Ohio, America's heart, but Cleveland balances all of the amenities nicely: there are ample 55+ communities, diverse cultural attractions, abundant green spaces, good health care facilities, and a low cost of living.

Cleveland's location also makes it a great hub for road trip aficionados, but plenty of locals extol the virtues of its food scene, lake activities, festivals, history, and more just as much.

Average home price: $88,100

Super affordable across the board from taxes to housing and health care costs, Mississippi makes retirement easily attainable, more so than most other states. The weather is as warm as the culture of Southern hospitality, so expect a friendly community to welcome you.

The City of Soul promises a nice balance of outdoor recreation, culinary options, and cultural events to keep you occupied.

Average home price: $147,306

Craving big city spirit with lots of live music and genuine diversity? Welcome to Memphis, home of Graceland, Beale Street, and Sun Studio. The climate is mild, and the food has flavor, plus living here is easy on your finances in every way.

Health care options and services for older adults are readily available, providing retirees with much-needed peace of mind.

Average home price: $132,671

Affordable, diverse, and sitting on the beautiful Illinois River, Peoria is a proud city in the heart of the country. The city itself is revitalizing thanks to incoming funds, and there are plenty of green spaces to enjoy when the weather permits, including golf courses.

Good health care is accessible and abundant, as are facilities for older adults. Historic home aficionados will have their pick here.

Average home price: $127,175

Known for its Cajun culture and port city amenities, Port Arthur is a paradise for water activity and boating enthusiasts. Health care is readily (even surprisingly) accessible, though the amenities of Beaumont and Houston are only a few hours away by car.

The cost of living in Port Arthur is 22% below the national average, great for retirees on a fixed income.

Average home price: $156,705

Truth or Consequences may be on the smaller side of the cities on this list, but over 22% of the population is 65 and older, making it a retirement hot spot. It's known for its pleasant weather and relaxing hot springs, but it also has gorgeous natural beauty and proximity to big cities. The overall cost of living for retirees is low in New Mexico, including in Truth or Consequences, helping you keep more cash in your wallet. 

How well you've planned for retirement, which isn't easy in today's economy, dictates your options as to where you can settle. Fortunately for many, there are still places with character and appeal as well as affordable homes.

Bear in mind that the size of your home can impact its cost, as well as where it's located in each city on this list. To that end, you may find even more options open up once you've made compromises you can happily live with.