Oklahoma: Elk City

Elk City, the home of the National Route 66 Museum Complex, is one of the most affordable cities on our list. Houses are a steal here, as house values sit at an inexpensive $93,300. Retirees looking to rent instead will also find surprisingly low prices.

With payments of only $856 per month, you could do so much more with the money left over in your budget! And that’s also considering the 3% decline prices have seen as of late.

Oregon: La Grande

When you think about Oregon, you’re probably thinking of home prices of around $323,200. But in La Grande, you don’t have to worry about spending every penny on a house. Instead, you’ll be paying $171,200! These prices have also seen a 3% year-over-year increase.

The best part about the city (other than modest housing prices) is their historic commercial district which has been added to the National Register of Historic Places in September 2001.

Pennsylvania: Williamsport

Williamsport, a city in Pennsylvania renowned for its sports, arts scene and food, is a perfectly picturesque destination for seniors on a budget. It’s also the birthplace of Little League Baseball, so if you have grandchildren visiting it’s always worth it to go to a game with them whenever you have a chance.

But on top of all that, it made it on our list due to low rent prices, which have dropped by 4% over the last year. By paying only $974 per month, you’ll make the most out of your golden years.

Rhode Island: Providence

The capital city of Rhode Island is far more inexpensive than a lot of people would think it is. That’s because compared to a nationwide increase of 9% in home values, Providence has only experienced a 7.5% increase.

Rent has also increased lately, but only by 3%, which still makes it an affordable option for most retirees. Also, don’t forget the fact that you’ll be living in a major city, so you’ll have plenty of opportunities to engage in your favourite hobbies wherever you turn.

South Carolina: Columbia

Though Columbia is the capital city of South Carolina, it is the second-largest city in the state. But that doesn’t mean the prices here reflect that. To begin with, the state doesn’t tax Social Security, so you can make the most out of your benefits. Here you’ll also benefit from the lowest effective property tax rate in the U.S., averaging at 0.57%.

But let’s talk about Columbia itself. The median home value is $127,400, meaning that moving and downsizing here should be effortless for most retirees. The market is also pretty stable considering the 3% increase over the last year.