10 Southern Lake Communities Retirees Can Still Afford on Social Security

The average Social Security benefit, which amounts to $1,976, doesn't go far in expensive urban areas. However, a comfortable retirement in affordable lake towns across the Southern U.S. is still possible should you find yourself needing to live on a fixed income.

Beyond making the most of your small budget, these towns give you access to water-based outdoor pursuits, offer scenic beauty and tranquil lake views, and encourage social connections in close-knit communities — the recipe for a stress-free retirement.

Here are 10 affordable lake communities you could call home.

Average Rent: $850

Median Home Price: $231,700

As the name of this Arkansas lake community suggests, it is home to natural hot springs that have been drawing tourists for decades. The town isn't just a healing and relaxation hot spot. It offers cultural pursuits and, more importantly, an affordable living cost that lets you maximize your senior benefits.

Lake Hamilton is one of the main attractions in Hot Springs. Alongside Lake Catherine, this man-made lake can offer you pleasant views and leisure on the water year-round.

Average Rent: $780

Median Home Price: $163,400

The "Friendliest Small Town in America," as Murray is known, is close to the Land Between the Lakes area of Kentucky. As such, it can give you access to Kentucky Lake and Lake Barkley for nature pursuits like hiking, fishing, and boating.

Besides its quaint feel, Murray has low housing and grocery costs. It welcomes visitors and residents with year-round festivals, like the Freedom Fest, celebrated on the 4th of July, and the Murray Ice Cream Festival.

Average Rent: $740

Median Home Price: $161,600

This small Oklahoma town, surrounded by beautiful, rolling hills and verdant nature, is named after the lake of the same name. Once you settle into your new home, the best way to enjoy it is to take a ride on the historic steamboat servicing the lake.

When you first come across this picturesque town, you may think you've entered the set of a Hallmark movie. Better still, Eufaula has a tight-knit community and offers seniors unbeatable home prices.

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Average Rent: $860

Median Home Price: $274,600

Named after Lake Hartwell, this friendly Georgia town is a great place to settle down if you enjoy nature and giving back to the community. It has a small-town feel and empowers residents to shop locally while familiarizing themselves with the rich history of Hart County.

Hartwell isn't just a quaint little lake town. It has a 17.8% lower cost of living than the U.S. average and homes that are 10.9% less expensive than elsewhere in Georgia.

Average Rent: $990

Median Home Price: $336,900

The small community of Tolar — population barely over 1,000 — is roughly 10 miles away from Lake Granbury, making it a convenient base for seniors who want to enjoy fishing, boating, and hiking in this Dallas Metro town.

Despite its small size, Tolar has something for everyone. It's friendly, ready to explore, well away from busy city life, yet close enough to Fort Worth for excellent medical care. Better still, its crime stats are much lower than the U.S. average.

Average Rent: $820

Median Home Price: $261,300

You may have always wanted to visit the Lake of the Ozarks, but your busy work schedule has kept you away. If you pick Camdenton, Missouri, as your new home, you can live on the shores of this beautiful lake.

Camdenton is extremely affordable for both homeowners and renters, and Social Security is partially tax-exempt in Missouri. In addition, you can partake in outdoor activities ranging from fishing to rock climbing, or enjoy Southern hospitality at its best when not spending time in the great outdoors.

Average Rent: $710

Median Home Price: $205,400

Pick White Lake, North Carolina, if you want to live in a small, peaceful town of fewer than 2,000 and experience a tight-knit community feel. The lake after which this charming community is named has crystal-clear water, perfect for pleasant nature walks or fishing.

Do you need another incentive? North Carolina doesn't tax Social Security income. It doesn't get much better than this when trying to avoid wasting money in retirement.

Average Rent: $840

Median Home Price: $211,500

This little town is a stone's throw from Nashville, although you wouldn't know it if you visited. It's located in the Parksville Lake/Okoee River area, giving you ready access to water and peaceful rural living.

Besides its low cost of living and low crime, Benton spoils residents with incredible views of the foothills of the Appalachian Mountains. Its mild winters are yet another reason you should make it your home.

Average Rent: $880

Median Home Price: $123,900

Nestled in the Midlands of South Carolina, Swansea is surrounded by a bevy of small lakes and ponds, which invite retirees to take their pick of fishing and nature enjoyment opportunities.

That's not all Swansea has to offer, by far. This charming small town has affordable homes, utility prices, and tax incentives for residents, including retirees.

Average Rent: $880

Median Home Price: $173,800

If your main draw to a place is being able to ditch the car, Milledgeville, Georgia, can seduce you with its historic charm and walkable downtown. This former state capital will help you discover Georgia's heritage while taking advantage of all Lake Sinclair has to offer water enthusiasts.

Milledgeville is quite affordable, with a cost of living score 21.9% lower than the national average. Besides inexpensive housing costs, it also saves seniors big on groceries and offers them quality healthcare.

Picking an affordable lake community isn't hard if your heart is set on a Southern state. These small, charming places will keep you active and engaged without breaking your budget.

Want to supplement your income despite living in an affordable community? Consider buying a home in a Southern lake town as an investment and earn extra income during retirement.