Mountains and a tight retirement budget don’t have to be opposites. A new study from GOBankingRates found 25 mountain towns across the country where retirees can live comfortably without draining their savings.
Virginia came out on top in a big way. Eight Virginia towns made the list. Tennessee and North Carolina each placed three cities. Alabama, Arkansas, California, Georgia, New Hampshire, New York, Montana, and Utah also made appearances.
GOBankingRates pulled together data from the U.S. Census, Zillow, Sperling’s BestPlaces, the Bureau of Labor Statistics, and the Social Security Administration to rank each town on affordability for adults 65 and older. Home values, cost of living, median income, and the share of senior residents all went into the rankings.
One important note: affordable doesn’t always mean a high quality of life. Two of the top four towns on this list scored below 60 out of 100 on AreaVibes livability ratings. So it’s worth doing your homework before packing up the house.
Here is a look at all 25 towns, along with what it actually costs to live there.
The Most Affordable Mountain Towns for Retirees
1. Galax, Virginia sits near the Blue Ridge Parkway in southwestern Virginia and tops the entire list. Annual cost of living: $32,559. Average home value: $171,990. Median household income: $38,675. Seniors make up 21.1% of the population.
2. Whitwell, Tennessee. Annual cost of living: $36,540. Average home value: $219,671. Median household income: $67,774. Seniors: 17.8%.
3. Gorham, New Hampshire. Annual cost of living: $37,033. Average home value: $243,716. Median household income: $62,679. Seniors: 32.9% the highest share of any town on the list.
4. Butte-Silver Bow, Montana. Annual cost of living: $38,820. Average home value: $272,147. Median household income: $61,857. Seniors: 19.5%.
5. Bedford, Virginia. Annual cost of living: $39,385. Average home value: $268,072. Median household income: $70,288. Seniors: 21.3%.
6. Roanoke, Virginia. Annual cost of living: $39,895. Average home value: $270,799. Median household income: $55,378. Seniors: 17.8%.
7. Abingdon, Virginia. Annual cost of living: $40,035. Average home value: $275,706. Median household income: $54,544. Seniors: 24.6%.
8. Eureka Springs, Arkansas. Annual cost of living: $40,112. Average home value: $308,630. Median household income: $38,425. Seniors: 31.4%.
9. Waynesboro, Virginia. Annual cost of living: $41,070. Average home value: $305,019. Median household income: $59,994. Seniors: 17.9%.
10. Jim Thorpe, Pennsylvania. Annual cost of living: $41,463. Average home value: $266,618. Median household income: $72,904. Seniors: 22.1%.
11. Luray, Virginia. Annual cost of living: $41,711. Average home value: $303,290. Median household income: $50,150. Seniors: 29.4%.
12. Chattanooga, Tennessee. Annual cost of living: $41,772. Average home value: $310,270. Median household income: $64,523. Seniors: 17.3%.
13. Huntsville, Alabama. Annual cost of living: $41,784. Average home value: $284,378. Median household income: $74,714. Seniors: 16.4%.
14. Jonesborough, Tennessee. Annual cost of living: $42,428. Average home value: $324,793. Median household income: $74,015. Seniors: 21%.
15. Bryson City, North Carolina. Annual cost of living: $42,581. Average home value: $311,860. Median household income: $44,167. Seniors: 20.4%.
16. Sylva, North Carolina. Annual cost of living: $43,817. Average home value: $320,079. Median household income: $44,086. Seniors: 14.6%.
17. Harrisonburg, Virginia. Annual cost of living: $44,164. Average home value: $346,912. Median household income: $62,254. Seniors: 10.5%.
18. Lexington, Virginia. Annual cost of living: $44,458. Average home value: $351,033. Median household income: $84,517. Seniors: 16.9%.
19. Stroudsburg, Pennsylvania. Annual cost of living: $45,117. Average home value: $338,919. Median household income: $66,674. Seniors: 27.6%.
20. Dahlonega, Georgia. Annual cost of living: $45,570. Average home value: $375,551. Median household income: $77,516. Seniors: 16.3%.
21. Crestline, California. Annual cost of living: $46,065. Average home value: $354,263. Median household income: $77,786. Seniors: 22.1%.
22. Lake Placid, New York. Annual cost of living: $46,191. Average home value: $347,518. Median household income: $41,612. Seniors: 16.7%.
23. Waynesville, North Carolina. Annual cost of living: $46,369. Average home value: $347,641. Median household income: $54,923. Seniors: 26.8%.
24. Parowan, Utah. Annual cost of living: $46,500. Average home value: $384,558. Median household income: $53,145. Seniors: 18.1%.
25. Ogden, Utah lands at the bottom of the affordability ranking with the highest annual cost of living on the list. Annual cost of living: $47,654. Average home value: $399,062. Median household income: $72,575. Seniors: 11.6%.
What the Numbers Tell Us
The gap between the most and least affordable towns is significant. Galax, Virginia costs about $15,000 less per year than Ogden, Utah. Over a decade of retirement, that difference adds up to $150,000, real money that stays in your pocket.
Home values across the list range from roughly $172,000 to just under $400,000. That is a wide spread, and it matters a lot if you are planning to buy rather than rent.
Several towns have a notably high share of senior residents. Gorham, New Hampshire leads at 32.9% of the population aged 65 and older. Eureka Springs, Arkansas is close behind at 31.4%. Towns with more seniors often have more services, activities, and community connections built around that age group.
If mountain scenery has been on your retirement wish list, these towns are worth a closer look. The numbers suggest you don’t have to choose between a beautiful setting and a budget that works.