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11 Small Towns Where Retirees Can Live Like Millionaires on $75,000 a Year

From riverside downtowns to mountain-ringed main streets, these 11 budget-friendly towns show how far a retirement nest egg can really go.

By Josh Koebert , Edited by Calista Headrick

Updated Nov. 9, 2026

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In the right small town, a $75,000 retirement budget can cover a comfortable home, regular dining out, and plenty of room left over for hobbies and travel. The housing figures below reflect renting a typical home at the local median rent or owning one at the area's average home value, with the rest of the budget going toward everyday living, health care, and extras.

Editor's note: Median rent figures are U.S. Census Bureau median gross rents for 2020–2024. Rent and home value figures come from Zillow. Cost of living figures come from Sperling's BestPlaces.

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Dothan, AL

Median rent: $960

Average home value: $204,317

Dothan's identity is shaped by college-town energy anchored by a local two-year college, paired with a network of creek-side trails along Beaver Creek that wind through wooded paths and a dog park. Retirees looking for more water nearby can head to the Chattahoochee River in the surrounding area for paddling and fishing.

Alabama doesn't tax Social Security benefits at the state level. Dothan's cost of living runs about 19.6% below the national average, which stretches a retirement budget further on groceries, utilities, and everyday expenses. A regional hospital system serves the area, putting routine and specialty care within reach.

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Ames, IA

Median rent: $1,023

Average home value: $301,900

Ames leans into college-town energy, with walkable neighborhoods blending into the surrounding area. A paved trail follows the west bank of the South Skunk River through parks that make it easy to get outside, while Ioway Creek adds another ribbon of waterfront greenbelt through the southern part of town.

Social Security isn't taxed in Iowa, and the city's cost of living sits about 12.4% below the national average. A regional hospital based in town serves patients from a multi-county area in central Iowa, keeping medical care close at hand even in a smaller city.

Bismarck, ND

Median rent: $999

Average home value: $378,242

As North Dakota's capital, Bismarck pairs civic energy with waterfront parks and trails along the Missouri River, where paved paths wind through riverside green space. A local college campus in the area adds college-town energy to the mix.

North Dakota doesn't tax Social Security benefits. Bismarck's cost of living runs about 4.8% below the national average, and multiple hospital and health systems serve the area with both general and specialty care.

Idaho Falls, ID

Median rent: $1,075

Average home value: $394,199

The Snake River runs through downtown Idaho Falls, tumbling over a cascading waterfall and framed by a paved greenbelt and river-walk trail popular for walking and biking. A local two-year college campus gives the city some college-town energy, and the surrounding high-desert valley opens onto mountain rivers, trout fishing, and the broader Rockies within driving range.

Idaho doesn't tax Social Security benefits. The cost of living here runs about 5.7% below the national average, and a regional hospital system covers health care needs for the area.

Albany, GA

Median rent: $931

Average home value: $132,195

Downtown Albany sits along the Flint River, with waterfront parks and trails tracing its banks through a historic core that has been slowly revitalizing. A local college in town lends some college-town energy to the pace of daily life.

Georgia doesn't tax Social Security benefits. Albany's cost of living runs about 27.3% below the national average, and a regional hospital system serves the area.

Gulfport, MS

Median rent: $1,086

Average home value: $206,122

Gulfport's defining trait is its waterfront setting on the Gulf of Mexico, with beaches and shoreline parks forming the backbone of daily life, plus a local college campus in town that adds college-town energy.

Mississippi doesn't tax Social Security benefits, and the city's cost of living runs about 17.4% below the national average. A regional hospital system with multiple area clinics serves residents.

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Johnson City, TN

Median rent: $1,023

Average home value: $292,890

Johnson City functions as an economic, medical, and educational anchor for a stretch of Appalachian Mountain scenery, with college-town energy supplied by a local college. A sizable reservoir on the edge of the Cherokee National Forest sits about 20 miles east, and another lake nearby adds to the area's trail and outdoor recreation options.

Tennessee has no state income tax at all, so Social Security benefits go untaxed. The cost of living runs about 15.4% below the national average, and a regional health system with hospital-level and trauma care serves the area.

Schenectady, NY

Median rent: $1,145

Average home value: $331,463

A liberal-arts campus within city limits gives Schenectady genuine college-town energy, while waterfront parks and trails line the Mohawk River, including a riverside district with boating access and a multi-use hike-bike trail. The historic downtown core still carries its preserved early-20th-century architecture.

New York doesn't tax Social Security benefits at the state level. The cost of living runs about 8.5% below the national average, and a regional hospital system based in the city serves area residents.

Canton, OH

Median rent: $850

Average home value: $174,287

Canton's layout is shaped by Nimishillen Creek and its East, Middle, and West branches, which support creekside parks and trails throughout the city. A local college within city limits adds college-town energy to the mix.

Ohio fully exempts Social Security benefits from state income tax. Canton's cost of living runs about 21.3% below the national average, and a regional hospital system serves the area, with health care counted among the city's larger employment sectors.

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Rock Hill, SC

Median rent: $1,341

Average home value: $319,971

Rock Hill combines college-town energy from a four-year college campus with riverfront parks and trails along the Catawba River and a nearby creek. A walkable downtown lined with historic brick buildings and tree-lined streets adds to the appeal, and Lake Wylie just outside the city offers boating and fishing.

South Carolina doesn't tax Social Security benefits. The cost of living here runs almost exactly at the national average, about 0.4% above it, and a regional medical center serves the area.

Eau Claire, WI

Median rent: $1,045

Average home value: $317,833

Eau Claire sits at the confluence of the Chippewa and Eau Claire Rivers, with waterfront parks, bridges, and a paved river trail running through a downtown that still reflects its lumber-era roots. A four-year campus adds college-town energy to the city.

Wisconsin doesn't tax Social Security benefits, and the cost of living runs about 9.4% below the national average. A regional hospital and health system provides general and specialty care for residents.

Bottom line

None of these towns require a fortune to enjoy a full retirement. Between modest rents, reasonable home prices, and cost of living indexes that largely run below the national average, a $75,000 budget can cover housing, health care, and everyday life with room left for the parts of retirement that matter most, whether that's a walk along a river trail, a round of errands downtown, or dinner out on a weeknight.

The common thread is character rather than size: rivers and creeks, walkable cores, and a steady supply of college-town energy that keeps these small cities feeling lived-in rather than left behind, with options for retirees who want to stretch their budget.

This article is for informational purposes only and should not be considered investment advice.

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