5. Erie, Pennsylvania

Erie takes full advantage of its Great Lakes location, offering retirees beautiful waterfront views at Presque Isle State Park, where you can enjoy beaches and trails throughout the warmer months. Real estate in Erie is highly affordable, with numerous older, well-constructed homes available in the five-figure range. Pennsylvania offers a massive financial perk for older adults: the state exempts all Social Security benefits and eligible pension income from state taxes.

Erie provides a surprisingly robust healthcare network for a city of its size. The primary consideration for relocating here is the aggressive winter weather. Lake-effect snow is a prominent feature of life in Erie, requiring you to budget for snow removal services or ensure your new budget home has an attached garage to make winter driving safer and easier.