Only a short time remains between now and the winter months. Retirees looking to buy homes to enjoy the next chapter of retirement will be pleased to learn about some of the best places to buy a home from coast to coast.
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GOBankingRates was able to determine these cities by analyzing data from Zillow Research Data’s Market Heat Index, the U.S. Census American Community Survey, Sperling’s BestPlaces and the Bureau of Labor Statistics Consumer Expenditure Survey. This list looks at cities that have retirement-age populations of at least 20%.
See which places are best for retirees to buy homes this fall.
Payson, Arizona
- % of population 65+: 38%
- Zillow Market Heat Index: 33
- Average monthly mortgage: $2,688
- Annual cost of living: $54,807
- Livability: 66
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Brookings, Oregon
- % of population 65+: 27%
- Zillow Market Heat Index: 15
- Average monthly mortgage: $3,020
- Annual cost of living: $57,073
- Livability: 60
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Easton, Maryland
- % of population 65+: 27%
- Zillow Market Heat Index: 34
- Average monthly mortgage: $2,598
- Annual cost of living: $53,216
- Livability: 73
Rutland, Vermont
- % of population 65+: 26%
- Zillow Market Heat Index: 46
- Average monthly mortgage: $1,601
- Annual cost of living: $43,519
- Livability: 79
Hot Springs, Arkansas
- % of population 65+: 23%
- Zillow Market Heat Index: 17
- Average monthly mortgage: $1,463
- Annual cost of living: $39,104
- Livability: 64
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Shelby, North Carolina
- % of population 65+: 23.0%
- Zillow Market Heat Index: -23
- Average monthly mortgage: $1,157
- Annual cost of living: $36,051
- Livability: 75
Spearfish, South Dakota
- % of population 65+: 23%
- Zillow Market Heat Index: 34
- Average monthly mortgage: $2,609
- Annual cost of living: $55,517
- Livability: 67
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Mount Vernon, Ohio
- % of population 65+: 21%
- Zillow Market Heat Index: 15
- Average monthly mortgage: $1,382
- Annual cost of living: $37,890
- Livability: 75
Sunbury, Pennsylvania
- % of population 65+: 21%
- Zillow Market Heat Index: 28
- Average monthly mortgage: $975
- Annual cost of living: $35,338
- Livability: 75
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Beckley, West Virginia
- % of population 65+: 21%
- Zillow Market Heat Index: 37
- Average monthly mortgage: $831
- Annual cost of living: $32,235
- Livability: 56
Kahului, Hawaii
- % of population 65+: 20%
- Zillow Market Heat Index: 30
- Average monthly mortgage: $6,296
- Annual cost of living: $105,614
- Livability: 72
Learn More: 3 Best States to Buy Property in the Next 5 Years, According to Experts
Pittsfield, Massachusetts
- % of population 65+: 20%
- Zillow Market Heat Index: 59
- Average monthly mortgage: $1,792
- Annual cost of living: $44,473
- Livability: 74
Editor’s note: Photos are for representational purposes only and might not reflect the exact locations/items listed in this article.
Methodology: For this study, GOBankingRates analyzed cities across the United States to find the best place to buy a home in every state. GOBankingRates used Zillow Research Data’s Market Heat Index to find housing markets that are tilted in favor of buyers. To qualify for this study, each location had to have all data points available. For each city, GOBankingRates found total population, population ages 65 and over, total households and household median income — all sourced from the U.S. Census American Community Survey. Using this data, the percentage of the population ages 65 and over was calculated. The cost-of-living indexes were sourced from Sperling’s BestPlaces and include the grocery, healthcare, housing, utilities, transportation, and miscellaneous cost of living indexes. Using the cost-of-living indexes and the national average expenditure costs, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the expenditure cost for each location was calculated. Using the average mortgage and expenditure costs, the total cost of living was calculated. All data was collected on and is up to date as of Oct. 9, 2024.
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This article originally appeared on GOBankingRates.com: 12 Best Places for Retirees To Buy Houses This Fall
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