12 Small Towns Where Retirees Can Live Like Millionaires on $60,000 a Year
- - 12 Small Towns Where Retirees Can Live Like Millionaires on $60,000 a Year
Cassandra YorgeyNovember 5, 2025 at 9:40 PM
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As workers reach retirement age, many discover that despite making a retirement plan, their nest egg isn't quite as big as they had hoped.
If you fall into this category, it might be time to look at the following smaller towns where a budget of $60,000 can let you live like a millionaire.
Editor's note: Unless otherwise noted, all home price figures come from Zillow, and median rent figures are from BestPlaces.
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1. Decatur, Alabama
red bank 2
Michelle/Adobe
Median rent: $943 (RentCafe)
Median home price: $221,939
The city of Decatur is located on the banks of the Tennessee River, making outdoor recreation on the water a staple for the residents from the first warm days of spring through the late sun-dappled fall.
There are several festivals throughout the year, including a farmers market with roots that stretch back to 1937.
Alabama doesn't tax Social Security, and homeowners 65 and older are exempt from state property taxes.
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2. Las Vegas, New Mexico
new mexico highlands university in las vegas
Aaron/Adobe
Median rent: $790
Median home price: $224,804
Las Vegas, New Mexico, shares a name with its more famous Nevada counterpart, but it's much smaller. There are nearly 1,000 historical buildings here, making it attractive to those looking for ties to the past.
This is also a great place if you are looking for a milder climate for your golden years.
3. Columbia, Missouri
columbia missouri
SeanPavonePhoto/Adobe
Median rent: $970
Median home price: $314,987
Located midway between St. Louis and Kansas City, Columbia helps retirees avoid state taxation of Social Security benefits. There are also no state estate or inheritance taxes.
This is a college town, which may appeal to seniors who want to continue their education. One downside is that the city is not very pedestrian-friendly, so it's better suited to those who enjoy driving.
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4. Plattsburgh, New York
aerial panorama of plattsburgh
steheap/Adobe
Median rent: $990
Median home price: $241,825
If you love the thick green of summer forests that transition to the firework colors of fall foliage, upstate New York's Plattsburgh might be a great retirement destination for you.
The city rests on the shores of Lake Champlain, which is home to the mythical lake monster known as Champ. This idyllic town has a vibrant community atmosphere, with local markets and many cultural events that create a fulfilling and active retirement life.
5. Sun City West, Arizona
williams arizona
Aerial Film Studio/Adobe
Median rent: $1,730
Median home price: $382,653
If you're looking to spend your golden years with others in the same stage of life, you might consider Sun City West. Seniors who are 65 or older account for more than 86% of the population.
This vibrant retirement community has a laid-back lifestyle with a lot of outdoor recreational activities that make the most of the warm climate. There are four recreation centers, more than 90 chartered clubs, seven golf courses, a bowling alley, a private library, a performance theater, and more.
However, if you want to make this town affordable, you will probably need to buy a home, as rentals are expensive.
6. Newark, Delaware
aerial image of christiana hospital newark
Felix Mizioznikov/Adobe
Median rent: $1,490
Median home price: $357,796
Delaware is a popular state for those seeking to avoid taxes in retirement. There are no state taxes on Social Security income, no state taxes on estates and inheritances, and pensioners are offered tax breaks.
The area is great for those who enjoy a milder beach climate that doesn't get too hot in summer or too cold in winter. This is another town where buying may be more affordable than renting over the long run.
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7. Pomeroy, Washington
garfield county courthouse in pomeroy washington
davidrh/Adobe
Median rent: $1,090
Median home price: $237,046
If you're looking for the smallest of small towns in retirement, Pomeroy has a population of about 1,400 and is surrounded by agricultural land that gives it a rustic charm.
The city is particularly affordable for retirees due to Washington's tax-free treatment of Social Security and retirement account withdrawals. Annual events held by the tiny town include the Pioneer Day and Tumbleweed Festival, as well as a county fair and other events.
8. Eagle Pass, Texas
aerial view of border towns of eagle pass texas
Jacob/Adobe
Median rent: $1,050
Median home price: $226,265
Have you considered the benefits of a border town retirement? Eagle Pass is situated along the Rio Grande River and has a rich heritage drawn from Native American and Mexican cultures.
The town is home to two international bridges that make trips into Mexico easy and convenient. The bridges let retirees take advantage of favorable currency exchange rates.
9. Wildwood, Florida
east coast
Eduard/Adobe
Median rent: $1,200
Median home price: $307,805
Located about 10 minutes from Florida's famed The Villages retirement community, Wildwood is among the fastest-growing cities in the Sunshine State.
The small city has a very low crime rate. And if you want to continue to work during your golden years, the average commute time is the shortest in Sumter County.
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10. Winchester, Virginia
aerial view of winchester
Reagan/Adobe
Median rent: $1,270
Median home price: $393,841
Winchester is located in the Shenandoah Valley and has a rich history tracing back to a time when the land was inhabited by Native Americans.
The town often hosts community events, such as the summertime Neighborhood Nights that occur monthly and allow local residents to come together.
Virginia also has no state tax on Social Security income, estates, or inheritances.
11. Auburn Hills, Michigan
city of marquette in northern michigan
Gerald Bernard/Adobe
Median rent: $1,480
Median home price: $373,934
Retirees should feel at home in Auburn Hills. It has been designated as a "Community for a Lifetime" by the Michigan Office of Services to the Aging, and has also been accepted into AARP's Age Friendly Communities Network.
Rent is a bit expensive here, but home prices are relatively reasonable.
12. Willoughby Hills, Ohio
autumn in ohio
EL Photography/Adobe
Median rent: $1,120
Median home price: $349,410
Willoughby Hills is a picturesque community in northeast Ohio that maintains the delicate balance between country and city life. Nestled against the Chagrin River, it has a population of around 10,000.
The town also maintains a robust senior center and offers services to seniors such as help with raking leaves.
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Bottom line
Everybody wants a stress-free retirement, but that can feel like a big task if you are living on a modest budget in an expensive place.
Finding the perfect retirement destination in a small town might make your retirement dreams more attainable. Perhaps one of the towns on this list will suit both your budget and your personal preferences.
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Source: “AOL Money”
