6 Mountain Towns Where You Can Retire Comfortably on $2,500 a Month
Written by
G. Brian Davis
Edited by
Zuri Anderson
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Dream of retiring in a cute mountain town like Aspen?
At a budget of $2,500 a month, Aspen is off the table — but you have plenty of other options. Take a closer look at these budget-friendly mountain towns as you hunt for the perfect place to retire.
Salida, Colorado
With an average rent of $1,174 for a one-bedroom apartment, Salida costs 28% less than the national average of $1,631 per month, according to Apartments.com.
But its charms extend past its modest price point. The downtown is walkable, with a vibrant arts scene. And residents can hit the slopes at nearby Monarch Mountain.
“Salida is a beautiful small town located on the Arkansas River, surrounded by the Sawatch Range,” explains Sain Rhodes, real estate expert with Clever Offers.
Idaho Springs, Colorado
Another Colorado mountain town worth exploring, Idaho Springs sits just off the I-70 corridor for easy access to both the Front Range and other mountain towns.
In town, enjoy a bite at Beau Jo’s, known for their dense “mountain pie” style pizza. Then walk down the street to Tommyknocker Brewpub for a pint (try their maple nut brown ale, it’s delicious). Then saunter home past art galleries to your apartment averaging $1,146, leaving room in your budget for transportation, healthcare and entertainment.
Ruidoso, New Mexico
Ruidoso clocks in even cheaper, with an average rent of $957. Ben Mizes, president of Clever Real Estate, recommends Ruidoso for its abundant amenities and budget-friendly pricing.
“Residents receive mountain views, a nearby ski area, hiking and mild weather at a fraction of the cost you would pay in Colorado or Utah,” Mizes said. “With an average rent below $1,000, a monthly retirement budget of $2,500 is more than doable.”
Boone, North Carolina
Boone costs a little more, with rents averaging $1,231. But many retirees find it worth every penny.
“Set in the Blue Ridge Mountains, Boone offers low property taxes, college-town vitality (courtesy of Appalachian State) and wide-ranging four-season beauty,” adds Mizes. “Median rents and home prices are affordable, and retirees enjoy arts, trails and health care, without falling into some of the high cost-of-living traps.”
Las Cruces, New Mexico
Las Cruces sits at the base of the Organ Mountains, with their distinctive upward-jutting ridges. The Organs provide beautiful high-desert hiking and camping, and Las Cruces’ southern latitude ensures mild winters.
New Mexico State University brings a college-town vibe, with a strong arts scene. Retirees can also enjoy year-round golfing, although the summers can get warm despite the 4,000-foot elevation.
One-bedroom apartments average $992, keeping it affordable for retirees on a fixed income.
Buffalo, Wyoming
Looking for a more sparse suburban feel in your mountain town?
“Buffalo, Wyoming has a small-town feel and lots to do in the surrounding area,” notes Harrison Stevens, vice president of marketing at TurboTenant.
Nearby activities include hiking in the Bighorn Mountains or Crazy Woman Canyon, fishing at Lake DeSmet and teeing up at the Buffalo Golf Club. While residents can enjoy cross-country skiing nearby, the nearest downhill resort is Meadowlark Ski Lodge about 50 miles north.
While Apartments.com doesn’t have data for Buffalo, BestPlaces.net reports it costs within 5% of the state average rent of $1,161. That keeps it viable for retirees on a $2,500-per-month budget.
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