I’m a Real Estate Agent: 4 Desirable Suburbs Where a $400K Retiree Budget Goes the Furthest
Written by
Heather Altamirano
Edited by
Zuri Anderson
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As fears of a recession continue to hover and Americans watch their retirement accounts dwindle due to market volatility, finding an affordable place to land as a retiree is vital.
With the national average sale price of a home going for $503,800, per the Federal Reserve Bank of St. Louis, it’s not easy finding a charming neighborhood with your must-have conveniences without breaking the bank. But if you know where to look, you can find deals with a budget of $400,000 or less.
“I’ve been a real estate broker for almost 18 years, and if there’s one thing I know for sure, it’s that the best buys aren’t always in the flashiest zip codes,” said Yawar Charlie, director of estates at Christie’s International Real Estate of Southern California.
According to Charlie, there are plenty of hidden gems in under-the-radar towns where your dollar stretches further without compromising on quality of life. Here are four suburbs to consider.
Ocala, Florida
- Median home price: $303,575, per Southern Living
Ocala is 58% cheaper per square foot than Naples-Marco Island. With its year-round beautiful weather, endless activities and tax breaks, Florida is a retirement haven. While some cities like Miami and Palm Beach are pricey, retirees can still soak up the sun and enjoy the state in Ocala.
“Ocala is where Southern charm meets serious value,” Charlie explained. “You’re not just getting square footage — you’re getting a lifestyle.”
Plus, according to the realtor there’s a construction boom right now so buyers have options like ranch-style homes to modern builds.
Fairport, New York
- Median home price sold: $395,000 per Realtor
Located just outside Rochester, Fairport is Upstate’s hidden gem and is having a big moment.
“There are strong schools, a charming Main Street, and a real sense of community that make it an investor’s dream,” Charlie said. “It’s got that perfect mix of Americana and affordability, with the Erie Canal running right through the heart of town.
Grand Rapids, Michigan
- Median home price: $271,960 per CBS News
With its vibrant culture, lively community, a plethora of breweries and affordable cost of living, Grand Rapids, Michigan is becoming a hot spot.
“Grand Rapids proves you don’t need coastal cash to live well,” Charlie stated. “With a thriving arts scene and historic architecture, this city delivers lifestyle and long-term value.”
Mount Lebanon, Pennsylvania
- Median home sale price: 374,150 per Zillow
With its grade A schools, exuberant nightlife and eclectic mix of trendy restaurants and coffee shops, Mount Lebanon, Pennsylvania is becoming a top-contender for families and retirees. Conveniently located just 15 minutes from Pittsburgh, Mount Lebanon delivers an alluring atmosphere and affordability.
“This town gives you top schools, leafy streets and architectural diversity — all within budget,” Charlie stated. “It’s known for its stately older homes, walkable business districts and cultural events that give it a big-city feel with a small-town heart.”
While it’s been a bumpy economy the last few years, there are ways to live comfortably in a great suburb without blowing your budget.
“The truth is, you don’t need a million-dollar budget to make a smart move–you just need to know where the opportunities are hiding,” Charlie said.
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Sources
- Federal Reserve Bank of St. Louis, “Average Sales Price of Houses Sold for the United States.”
- Yawar Charlie, “Your local Real Estate Director.”
- Southern Living, “This Scenic Florida Town Has The Cheapest Real Estate In The State–And It’s Known As The Horse Capital Of The World.”
- Realtor, “Fairport, NY.”
- CBS News, “Looking for a home in 2025? Check out these 10 housing hotspots.”
- Zillow, “Mount Lebanon, PA Housing Market.”
