Most Affordable Cities for Retirees to Buy a Home in 2020

elderly couple on green bench in park
Most Affordable Cities for Retirees to Buy a Home in 2020

When considering homeownership retirees must factor in affordability. Location will often be the primary driver of costs over the next 20 years. Ideally, the city you choose for your retirement home should resemble your needs and fit your budget. For convenience, we have highlighted just a few key statistics you may use to guide choosing your retirement location!


Sarasota, Florida landscape
Sarasota, Florida

Many cities in Florida are considered some of the best places to retire. Of all the cities, Sarasota stands out because of its white sandy beaches. Housing in Sarasota is moderately priced and retirees can expect to feel a great sense of community. 

Metro Population: 768,381
Median Housing Cost: $237,260
Share Population over 60: 38%


Ocala, Florida landscape
Ocala, Florida

While Ocala is not known for sandy beaches, it is known for its affordable cost of living. The city has a central location that gives you easy access to other nearby areas and cities with beautiful lakes and beaches. Retirees will also enjoy great weather in an area with reasonably priced housing and affordable health care.

Metro Population: 354,353
Median Housing Cost: $120,700
Share Population over 60: 29%
 

Lancaster, Pennsylvania shops
Lancaster, Pennsylvania

If you are more interested in enjoying food as opposed to beaches then Lancaster may be the perfect city for you to retire. The city is home to many Amish farms, giving you access to local produce, freshly baked goods, and beautiful farmland. The city is also among some of the best locations for food tourism and diversity. Retires have reported a median housing cost of $196, 025 which is quite affordable. 

Metro Population: 536,494
Median Housing Cost: $196,025
Share Population over 60: 23%
 

Asheville, North Carolina landscape
Asheville, North Carolina 

If you seek a quiet beautiful location that allows you the peace of mind to be creative then Asheville is the perfect place. This area is fit for adventure and also gives you the mood needed to produce great creative work. The city is home to many artists, writers, musicians, and chefs. 

The cost of living and housing is not among the lowest on this list however the area offers what many retirees seek and as such it is considered among the top 5 best places to retire.

Metro Population: 445,625
Median Housing Cost: $248,500
Share Population over 60: 28%
 

Nashville, Tennessee skyline
Nashville, Tennessee 

Living in Nashville, retirees can expect to have enjoyable weather most of the year. If that isn’t enough to catch your attention then perhaps the access to great music will. The cost of living in Nashville is relatively affordable, although the cost of housing is a bit above average.  

Metro Population: 1,830,410
Median Housing Cost: $248,883
Share Population over 60: 13%


Roseburg, Oregon waterfall
Roseburg, Oregon

Roseburg is the perfect city for retirees who are outdoor enthusiasts or just persons seeking adventure. Many people enjoy the area and the activities that it offers. The cost of living and housing is above average.

Metro Population: 107,576
Median Housing Cost: $215,000
Share Population over 60: 33%
 

Grand Rapids, Michigan landscape
Grand Rapids, Michigan 

Grand Rapids is a very scenic area and many people enjoy doing various outdoor activities. During the summer, Lake Michigan is great to visit and it is within an hour’s drive from Grand Rapids. Housing in this area is really affordable and lower than the country’s average.   

Metro Population: 1,039,182
Median Housing Cost: $181,533
Share Population over 60: 14%
 

Austin, Texas parks
Austin, Texas

Austin is often described as one of the fastest-growing metro areas in the country. The city attracts many different people including professionals, students, and retirees. Owning a home in Austin will cost you a bit more than the natural average and you can expect access to good health care.  

Metro Population: 2,000,590
Median Housing Cost: $292,500
Share Population over 60: 10%
 

Winston-Salem, North Carolina home
Winston-Salem, North Carolina

Winston-Salem is a small town that is on a track of steady growth. Retirees can expect the closeness of a small town while living in a well-developed area. The cost of living and housing in Winston-Salem is among the lowest in the country. 

Metro Population: 658,195
Median Housing Cost: $145,725
Share Population over 60: 16%
 

El Paso, TX landscape
El Paso, Texas 

El Paso offers low housing and retirees can enjoy a high budget-friendly standard of living. The city is perfect for retirees who still want to engage in minimal work. Many people enjoy El Paso for its work-life balance and motivating atmosphere.  

Metro Population: 838,527
Median Housing Cost: $151,300
Share Population over 60: 16%

There you have it, a snapshot of some of the best cities to purchase a retirement home. Be mindful and well prepared as you search for the best home for the next phase of your life. Congratulations on your upcoming retirement!

At your service,
Young Alfred