Key Takeaways
- Housing is commonly the most important retirement expense, so a mortgage below $700 a month could make your revenue go additional.
- Inexpensive choices span the U.S., from Georgia and Virginia to South Dakota and Arizona.
- Some states—comparable to Pennsylvania and Iowa—don’t tax Social Safety or different retirement revenue, which might additionally assist stretch your cash.
- Decrease housing prices unencumber revenue for well being care, journey, and leisure in retirement.
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Why an Inexpensive Mortgage Issues in Retirement
The U.S. Bureau of Labor Statistics’ 2023 Shopper Expenditure Survey exhibits retired households spend about $5,000 a month, with housing as the most important value. Preserving mortgage funds comparatively low—say, below $700—can depart extra room in your finances for well being care, journey, and spare time activities.
How the Greatest Retirement Cities Are Chosen
To decide on one of the best retirement cities, Investopedia thought-about these 4 elements: value of dwelling, entry to journey, entry to well being care, and entry to leisure. Amassing and evaluating these knowledge factors decided affordability and curiosity to retirees—that means that one of the best ones have been chosen each as a result of they’re cheap locations to stay and since they provide a beautiful high quality of life and entry to companies. Be taught extra about our methodology.
11 Prime Retirement Locations With Mortgages Below $700
In these locations, it’s potential to maintain a month-to-month mortgage fee below $700. Estimates are based mostly on the county’s median dwelling worth with 20% down and the typical 30-year mortgage charge for that state as of Sept. 24, 2025. Retirees who put extra down might even see even decrease funds, whereas selecting a shorter mortgage time period, comparable to 15 or 20 years, would additionally change the estimate.
Ware County, Georgia
In Ware County, the everyday mortgage fee is about $550. Situated roughly 90 minutes from Jacksonville, Florida, and simply an hour from the Atlantic coast, it presents robust well being care entry for its almost 14,000 residents.
Adams County, Mississippi
On this county about two hours from each Baton Rouge, Louisiana, and Jackson, Mississippi, the everyday mortgage fee is $543. Dwelling to roughly 1,500 residents, it additionally presents a retirement-friendly tax local weather—Mississippi doesn’t tax Social Safety advantages or retirement account withdrawals.
Guadalupe County, New Mexico
With a median dwelling worth of $107,200, the everyday mortgage fee on this county is simply $556. Dwelling to about 2,700 residents, it carries very low local weather threat and sits roughly two hours from each Albuquerque and Santa Fe.
Danville, Virginia
On this medium-sized metropolis on the Virginia–North Carolina border, the everyday mortgage fee runs about $572. With a inhabitants of roughly 43,000 and only a 45-minute drive from Greensboro, North Carolina, the town additionally presents robust entry to well being care.
Cambria County, Pennsylvania
On this county about 90 minutes east of Pittsburgh, a typical mortgage fee is simply $600. Practically 18,000 residents name it dwelling, and there may be robust well being care entry close by. Retirees additionally profit from Pennsylvania’s tax-friendly method, which exempts Social Safety, pensions, and retirement plan distributions.
Adams County, Iowa
The standard mortgage fee on this county is $603. With a inhabitants of just below 14,000 and positioned about 90 minutes east of Omaha, Nebraska, it additionally ranks very low for local weather threat in line with the Federal Emergency Administration Company (FEMA). Retirees achieve an added Iowa benefit, with pension, 401(ok), and particular person retirement account (IRA) revenue exempt from state taxes beginning at age 55.
La Paz County, Arizona
On this county simply south of Lake Havasu, the everyday mortgage fee is about $610. Dwelling to roughly 3,400 residents, it carries a comparatively low county-level local weather threat. Retirees additionally get pleasure from handy entry to big-city facilities, with Phoenix lower than a two-hour drive away.
Choctaw County, Oklahoma
The median home worth on this county is just below $120,000, resulting in a typical mortgage fee of $613. Situated inside a three-hour drive of Dallas, Oklahoma Metropolis, and Tulsa, the county has 5,200 residents and represents a comparatively low local weather threat.
Delaware County, Indiana
On this county of about 65,000 residents, the everyday mortgage fee is $648. Anchored by Muncie—dwelling to Ball State College—it presents robust well being care entry and sits lower than an hour from Indianapolis.
Gregory County, South Dakota
On this county alongside the Missouri River, the everyday mortgage fee is $658. With simply over 1,200 residents, it presents small-town dwelling plus a significant retirement perk—South Dakota has no state revenue tax, that means Social Safety and retirement account withdrawals aren’t taxed.
Bay County, Michigan
Bordering Lake Huron’s Saginaw Bay, this county of almost 32,000 residents has a typical mortgage fee of $690, based mostly on a median dwelling worth simply over $135,000. It additionally presents robust well being care entry, making it an inexpensive and sensible selection for retirees.
The Better of Each Worlds: Price and High quality
These retirement spots provide two key perks—affordability and high quality—and present that you would be able to have each. With options comparable to robust well being care entry, low local weather threat, and favorable tax environments, it’s potential for retirees to make sensible monetary selections with out sacrificing consolation. Minimizing monetary pressure means extra time and assets for belongings you get pleasure from about retirement.
In the present day’s Mortgage Price Information
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The nationwide and state averages cited above are supplied as is through the Zillow Mortgage API, assuming a loan-to-value (LTV) ratio of 80% (i.e., a down fee of no less than 20%) and an applicant credit score rating within the 680–739 vary. The ensuing charges symbolize what debtors ought to count on when receiving quotes from lenders based mostly on their {qualifications}, which can range from marketed teaser charges. © Zillow, Inc., 2025. Use is topic to the Zillow Phrases of Use.
