6. Cheboygan, Michigan

Coastal towns for retirees are not strictly limited to saltwater. The Great Lakes provide a massive “third coast” that offers spectacular summer living. Cheboygan, located at the northern tip of Michigan’s Lower Peninsula on Lake Huron, is an incredibly affordable waterfront haven.

Because Cheboygan experiences a true, snowy winter, property prices remain grounded. It is an ideal location for “snowbirds”—retirees who wish to buy a low-cost summer home on the water in Michigan, and rent a modest apartment in the South during the winter months. During the summer, the area is vibrant with boating, fishing, and community festivals.

Michigan recently passed legislation to phase out the retirement tax, providing significant relief for seniors drawing on pensions and 401(k)s. If you are willing to brave the snow—or if you plan to travel for a few months out of the year—Cheboygan offers a pristine waterfront lifestyle at a bargain price.