Wednesday, July 24

8 US States That Sell The Cheapest Homes to Retirees

Are you planning to relocate to one of these states? 

Retirement is typically a period of freedom for most people. When you resign, you can spend your time however you like because you are no longer required to go to work every day. And in the past few years, a lot of people have chosen to relocate after leaving employment. Can you imagine that every year, about 1 million Americans move after they retire?

Some people move to other states for family purposes, either to be nearer or farther away, while others do this for medical or financial considerations. If you’re looking to buy a house in retirement but don’t know where to begin, we’re here to help! In this article, we will show you which states offer low prices for retirees.

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Photo by SevenMaps from Shutterstock

1. Texas – Wichita Falls

Why was Wichita Falls listed first? Well, in addition to being a really nice location to reside, it is also one of the cities situated in one of the states that retirees just adore, according to various people who bought a house here! You might be shocked to learn that Wichita Falls was originally just a tiny cattle town with a small population that eventually expanded into a sizable city full of gorgeous people who were passionate about art and culture. Therefore, I can assure you that you won’t get tired in Wichita Falls if you enjoy going for walks and being in nature.

And as a fresh retiree, don’t worry because in the past few years, a lot of people have relocated to Texas to spend their golden years, so you will definitely find a lot of nice and friendly communities to join. Furthermore, financial studies show that while the typical home price in Texas is $195,000, it is only $95,700 in Wichita Falls.

2. Ohio – Youngstown

Ohio is definitely one of the states that takes care of its elders! That’s why we recommend Youngstown as a place to relocate for your golden years. Youngstown is another location where a home can be purchased for $135,967, which is 60% less than the national median house price, and that’s not all! If you like museums, live concerts, and other things related to culture, Youngstown should be your go-to place. Because, let’s be honest, retirement shouldn’t be only about paying taxes and surviving! It is also about having fun while being surrounded by nice, warm-hearted people.

Is Ohio one of the states you would like to live in? Tell us in the comments section.

3. West Virginia – Huntington-Ashland

Did you know that West Virginia is one of the states with the lowest property tax rates in the U.S.? That’s why it would be in your own interest to invest in buying a home in this area. Where to move, you may ask? In Huntington-Ashland, which is a huge metropolitan area that is home to more than 361,580 residents. And while you may think, “Nah, this is an expensive place to live in,” we’re here to “debunk” this myth by saying that the typical price of a home in the Huntington-Ashland region is $139,833, which is more than 59 percent less than the national average. Not that bad, right?

4. Kansas -Topeka

Kansas is one of the few states I see myself moving to at some point in my life. Why? Well, if you’re planning to buy a house for your retirement years, you’d be surprised to know that a house here can be purchased for $147,383, which is 57% lower than the national average. And one of the best places to live in Kansas is the capital, Topeka. With a huge rise in the economy in the past few years, the capital of Kansas is a place more than 126,000 people call “home.”

Over the past two decades, retirement living choices in Topeka, Kansas, have changed significantly, and a lot of retirees admit that it’s even better than Florida! Are you surprised by this fact?

5. Ohio – Akron

We’re going back to one of our favorite states on the list: Ohio. The city that we are going to talk about is one of the most popular retirement locations, and believe us, you will be interested in adding it to your relocation options list. In addition to having a very strong employment market and an economy that is growing rapidly, Akron, the fifth-largest city in Ohio, is also 54% cheaper than the national average when it comes to the median price of a home at only $157,417.

However, if you’re planning to relocate to Akron for retirement, you should hurry up because houses are selling very fast!

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Photo by Alexander Lukatskiy from Shutterstock

6. Tennessee – Alcoa

Another state that welcomes retirees is Tennessee. According to various people who decided to move there in the past few years, Alcoa is probably the most affordable place to live in Tennessee. And the good news is that here the median home value is around $146,500, and in case you’re not 100% sure if you’re ready to buy a house or not, renting is also pretty cheap too, you will pay around $700 per month with a big chance of negotiation. If you’re a recent retiree looking for a quiet spot to live, you can find it almost anywhere in Tennessee, but most often in Alcoa. People in this community are consistently sincere and eager to assist their neighbors, particularly the elderly.

If you’re a travel addict and you decided to explore more U.S. states during retirement, then you will never get bored in Tennessee. Starting with the Great Smoky Mountains National Park and the Tennessee Aquarium in downtown Chattanooga, both annually visited by millions of people, there are also a lot of museums that deserve more attention, especially if you’re passionate about the artistic part of life.

7. Florida – Orlando

I guess Florida is one of the states that doesn’t need any introduction because it’s so popular among retirees. And to be honest, people are choosing it for a reason! The cost of living is pretty low compared to other U.S. states, and you don’t have to deal with income taxes, which is definitely a good deal during this period of rising inflation. Orlando is one of the Florida cities that we kindly recommend as a go-to destination to spend your retirement years because, according to various financial studies last year, the median home price was around $365,000.

Besides being like heaven for retirees, Orlando is going to be your favorite place to be if you enjoy an active lifestyle! Do you enjoy warm weather, playing golf, and airboat tours? Then you will never get bored here. Are you ready to pack your bags?

8. Pennsylvania – Erie

Residents of the city of Erie, which is situated on the shores of Lake Erie in the far northwest corner of Pennsylvania, spend warm days taking advantage of the Great Lake’s crystal-clear waters and a variety of other outdoor leisure activities, such as walking, hiking, and biking paths. Erie, a medium-sized city, has 97,263 residents and an economy that is flourishing. The typical price of a home in Erie, according to financial experts, is $138,433, which is roughly 60% less than the national average.

Which one of these states is your favorite? Tell us in the comments.

Here’s another topic that might interest you: Happy Retirees Chose These 8 Banks This Year, Studies Say.

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