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

With housing costs taken care of, that leaves more money for the finer things in life.

By Josh Koebert , Edited by Calista Headrick

Updated Oct. 22, 2026

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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 September 2026, and cost-of-living figures are from BestPlaces.

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Ashland, Kentucky

Average home price: $128,624

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.

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Bay City, Michigan

Average home price: $125,613

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.

Birmingham, Alabama

Average home price: $134,165

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.

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Cleveland, Ohio

Average home price: $115,810

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.

Huntington, West Virginia

Average home price: $144,323

Set along the Ohio River where West Virginia meets Kentucky and Ohio, Huntington offers small-city living with college-town energy, thanks to Marshall University. Ritter Park, known for its rose garden and walking trails, is a local favorite, and the downtown area has shops, restaurants, and the restored Heritage Station.

The cost of living is 21% below the national average, and the city is home to major hospitals, including Cabell Huntington Hospital, a plus for retirees who want health care close by.

Jackson, Mississippi

Average home price: $83,517

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.

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Johnstown, Pennsylvania

Average home price: $106,179

Tucked into the Laurel Highlands of western Pennsylvania, Johnstown pairs small-city affordability with plenty of history and scenery. History buffs can visit the Johnstown Flood Museum and the Johnstown Flood National Memorial, which tell the story of the devastating 1889 flood. The Johnstown Inclined Plane, one of the steepest vehicle inclines in the world, offers sweeping views of the valley.

The cost of living is 24.3% below the national average, and Pittsburgh is about a 90-minute drive away for big-city outings, sports, and specialty health care.

Peoria, Illinois

Average home price: $136,279

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.

Port Arthur, Texas

Average home price: $124,744

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.

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Shreveport, Louisiana

Average home price: $156,705

Set along the Red River in northwest Louisiana, Shreveport offers mild winters, a lively food scene with Cajun and Creole flavors, and riverfront casinos for a night out. The Shreveport Aquarium and nearby parks and lakes give retirees plenty of ways to stay active.

The cost of living is 22.3% below the national average, and the city is home to a major academic medical center, which gives retirees access to specialty care close to home. Louisiana also doesn't tax Social Security benefits, so retirees can keep more of their monthly income.

Bottom line

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.

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