I’m a Real Estate Agent: Here Are the Top 10 Cities for Middle-Class Retirees To Buy a Home
Written by
Brooke Barley
Edited by
Joe Evans
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Looking to retire on a middle class income? To be exact, that’s a number falling between $39,693 and $119,080. In April 2024, it was reported that home prices and general cost of living were up 6% since April 2023. That being said, there are still some cities where it’s possible to retire comfortably as a member of the middle class.
Here are the places real estate experts say you can enjoy your retirement without worrying about how you’re paying your mortgage.
Las Vegas, Nev.
“Retired middle-class homebuyers have been flocking to Las Vegas for some time,” Eric Preston, CEO and founder of Agent Launch, said. “The weather and social life are key factors but it’s also very tax-friendly. This makes it appealing for retirees, even those on a fixed income, to buy a home.”
Preston is referring to how Nevada has no state income tax, so retirement account money isn’t subject to taxes. Housing prices are up by 9.2% this year but are still relatively affordable, with a $435,000 median sale price.
Pittsburgh, Pa.
Preston recommended Pittsburgh because you also won’t be taxed on retirement benefits, and it’s known for providing high-quality healthcare services. The city’s median home price is $235,000, down 7.8% since last year.
“Ultimately, it’s an affordable housing market and city with many of the features that retirees look for,” Preston said.
Sioux Falls, S.D.
“An affordable housing market, low property taxes and no estate or inheritance tax help Sioux Falls attract many middle-class retirees looking to buy property,” Preston said.
The median home sale price in Sioux Falls is $310,500 — a 5.9% drop last year.
Toledo, Ohio
You can enjoy all four seasons in a year, so your retirement doesn’t have to be spent in a harsh wintry fog or a humid, abysmal scorching sun!” Hannah Jones, a realtor and home improvement expert, boasted of Toledo. “You get the best of all worlds, especially because the home prices are very affordable and won’t cost you an arm and a leg!”
For Toledo, the median home sales price is a very affordable $125,000.
Tallahassee, Fla.
Like other picks on this list, Florida has no state income tax, so that’s good news for retirees.
“There’s already a large number of residents over 65 years old and Tallahassee appeals to retired middle-class seniors, as it’s even more affordable than other parts of Florida,” Preston said.
The median home sale price in Tallahassee is $290,500.
Youngstown, Ohio
You won’t be too far from bigger cities like Pittsburgh or Cleveland, and you’ll get to keep your cost of living low.
“The median housing price in Youngstown is $137,546 and the median mortgage cost is $653,” Preston said. “The cost of living is 11% lower than the state average and 18% lower than the national average. The real draw to Youngstown for middle-class retirees is simple: Youngstown’s median home sale price is 76% lower than the national average.”
Hickory, N.C.
Jones said this is a place that retirees will absolutely love.
“Since it is close to the shoreline, there are plenty of opportunities for fishing and boating for retirees,” Jones added that the home prices aren’t too bad either. “The median home price in Hickory is $219,950, and the median mortgage is $756.”
Rochester, N.Y.
“Rochester, New York is an excellent choice,” Martin Orefice, CEO of Rent To Own Labs, said. “This is an area that’s been shrinking for a while due to deindustrialization, but still has great infrastructure, meaning you get a low cost of living without having to sacrifice on social services.”
The median home sale price in Rochester is just $150,500.
Punta Gorda, Fla.
Like Tallahassee, Punta Gorda is already a popular retirement destination. Orefice said that’s for good reason. “You’ll enjoy zero income taxes, below-average cost of living, and plenty of other retirees in addition to beautiful Florida weather and a coastal setting.”
Right now, the median sales price of a home in Punta Gorda is $469,000.
Atlanta, Ga.
Orefice said Atlanta would be a great choice for retirees looking for affordable homes. “There are homes for every budget,” Orefice said.
Right now, the median sales price of a home in Atlanta is $429,990. Atlanta’s home prices have been going down. That’s 1.1% less than this time last year. It’s expected that prices continue for the rest of the year.
