The 13 Best College Towns For Retirees To Move To

If you're watching the news and doom scrolling through your days, thinking about the best countries to retire abroad, don't pack up your entire life just yet. There are still places in this country to retire affordably, and surprisingly, many of them are college towns. Being able to live independently can have financial benefits so long as you've figured out how much money you'll need to live on comfortably, with healthcare taken into account.

Even if you've taken good care of yourself, the Employee Benefit Research Institute (EBRI) estimates that, in order to have 90% odds of covering all your healthcare needs in retirement, a man will need $184,000 and a woman $217,000. As a couple, that's a combined $401,000, just on healthcare. The EBRI estimates some couples will need as much as $413,000. A 2024 Northwestern Mutual survey found that most Americans think retirement will cost them just over $1.4 Million. Even if you haven't saved quite that much, these college towns are exciting places to retire and won't break the bank.

Huntington, West Virginia is a small town with about 46,000 people. Like a full-fledged city, however, there are a lot of local amenities for locals to take advantage of, including film festivals, arts and crafts festivals, and the impressive Ritter Park, a great place for a walk or picnic. If you're a culture lover, or just want to stay inspired, the Museum of Radio and Television and the Huntington Museum of Art are right there.

Where finances are concerned, West Virginia in 2023 ranked as one of the five best states to retire. With close to a fifth of the population — 17.2% — 65 years old and up, you'll have plenty of company. According to GoBankingRates, you would need $712,913 to retire comfortably in West Virginia, with an estimated annual cost of living of $50,954. That's about half of what the average American believes they'll need to retire. With a monthly estimated cost of living of $1,951 and an average mortgage payment of $707, you'll find that you're ahead of the game. Also consider, the median price of a home in the U.S. was $419,200 in the fourth quarter of 2024. The median cost of a home in West Virginia is around $245,100. Independent living in a retirement community is a comfortable $3,337 per month, well below the state average of $4,383 monthly.

While Kentucky made it into a list of states no one should retire in last year, we should've added the caveat to not throw out the baby with the bathwater. Maybe in general, that could be true, however, Lexington — the home of Washington and Lee University and the University of Kentucky — is worth a second look. Lots of green space for horseback riding and hikes, local parks, and a burgeoning cultural scene, you'll have plenty to keep you busy in retirement if you're an outdoorsy person.

Where your retirement savings are concerned, you can enjoy living in a state where your Social Security benefits are tax exempt. This is an added bonus that won't require you to know any sneaky Social Security tax exemptions. GoBankingRates sets the necessary retirement savings at $834,590, with an annual cost of living around $55,821. The average monthly cost of living is $1,775 with an average mortgage of $1,783. The median sales price of a home in Kentucky is $261,000, and living in a retirement community will cost a median of $3,137 per month, a little above the state average of $3,124 but still well below the national average. 

The University of Wisconsin–Stevens Point offers retirees beautiful seasonal weather, calm lakes for boating, swimming, or fishing, and hiking trails through various parks and forests. It gets lively during festival season, with events like the Wisconsin State Fair and Summerfest attracting locals and tourists alike.

GoBankingRates estimates an average retirement savings of $930,729 to cover annual living expenses of $59,666. Within that estimate you'll need $1,691 per month in living costs or another $1,491 to cover your average mortgage. Independent living averages $2,907 monthly in a state where the average is $3,446. If you need assistance in your old age, the median cost of assisted living here is $3,858 which is very competitive in comparison to the national average. When considering housing, it's good to know the state average is $312,000 which, in comparison to the national average, is a very good deal.

Iowa State University is located in Ames, Iowa, and if it makes sense for your budget, Ames is a happening place to be. Think serene greenery with lakes and hiking trails through state parks, and weekend drives through the countryside. You can also bask in the amazing arts and culture of Ames, including numerous festivals like the Iowa State Fair or the Des Moines Arts Festival, and your choice of museums, performance venues, and friendly locals. While only 10.5% of the population is 65 years old or older, that won't stop you from having a good time. In 2023, MoneyDigest named this the best state to retire in the U.S that isn't Florida, and in 2025, it's still making it into our "best of" lists for a reason.

With the median cost of a home approaching $230,100, and an average mortgage being $1,886, this is among one of the cheapest states to own and pay for a home. Throw in a monthly expense of $1,863, and a retirement that will set you back just $797,035, this is a great idea for people close to retirement who fall short of that perceived necessity of $1.4 million worth of savings. When you consider the annual cost of living in the state is about $54,319, you're living at a premium for far less in college town Ames. Living in a community averages $3,650 per month, or $43,800 per year — still below the state and national average. 

Dorothy may not be in Kansas anymore, but where retiring in a college town is concerned, we probably should be. With the median home in Kansas sitting at around $224,903, home ownership is even cheaper than our last college town Iowa, and falls even further before the national average. You can expect to pay about $1,882 in monthly expenses, and $1,829 a month if you pay a mortgage. This all leads to a necessary retirement savings of $741,455, or $52,905 per year.

With 11.6% of the population being retirement age and older, you might want to live in a community with people you can relate to. Independent living will cost you an average $3,730 per month, which is just about in line with the state average of $3,811 per month. It's still lower than the national average, and even assisted living will average around $4,873, going up to $5,905 for a two bedroom. 

Illinois State University provides the backdrop for Normal, Illinois. You can find a good mix of big city life and small towns in Illinois, but Normal will give you something more akin to a small town to look forward to. It's roughly a two and a half hour drive from Normal to Chicago, but in retirement who needs the hassle of driving? The train will actually shave around 40 minutes off your ride into the city, and once there, you can take advantage of events like the Chicago Jazz Festival or the Art Institute of Chicago exhibitions. Of course, you can just stay in Normal and visit places like Miller Park Zoo, which has free admission every Friday in February.

The monthly mortgage averages about $1,424 per month. The median home price in Normal is $235,000, which is lower than the state average of $283,900. You would need at least $873,646 to retire in Illinois, with an annual cost of living of $57,383. Independent assisted living is pricier here at $4,193, however, it's less expensive than similar Illinois towns like Towanda and Bloomington, and it's cheaper than the state average. 

Between Winona State University and Saint Mary's University of Minnesota, you're sure to find a lot of college energy in Winona. Aside from that, if you're interested in keeping your mind active in retirement, Winona State also offers adult and continuing education courses. With high marks for healthcare, including hospitals, you can have confidence that you'll be well taken care of should any issues arise in your retirement years. With nearby events like the Twin Cities Jazz Festival or Minnesota State Fair, you can stay cultured and entertained.

There's a large population of people 65 years and older here, with 16.9% of the population being of retirement age. If you're a homeowner, the average mortgage is about $1,357 a month. The estimated amount of retiring savings you would need to live in Minnesota is just around $870,642, or $57,263 per year. The average price of a home in Minnesota is $329,295, while in Winona, it's a much more affordable $233,568. Independent living is pricier here at $4,302, which is higher than the national average, but below the state's average of $4,503 per month. Just avoid former Vice Presidential candidate and Minnesota governor Tim Walz bad retirement savings move, and your odds of retiring well in Winona are pretty good. 

Pennsylvania has one of the largest retirement communities in the U.S. with 17% of a population of roughly 13 million people being 65 years old and up. A huge location for American history, there are a number of cultural institutions aside from Bucknell University that make Lewisburg a great area to retire. With mountains and Allegheny National Forest, there's plenty for the outdoorsy retiree to do too. For an east coast state, it's surprisingly affordable, with lauded healthcare facilities.

It will cost you around $1,926 per month in living expenses, with the average mortgage settling on about $1,796 per month. You would need just over $800,000 in retirement savings to live here, or just over $57,000 per year in living expenses. In comparison to the state average, you can see how Lewisburg is so much more affordable. Independent living in Lewisburg will cost an average of $3,328 per month, where the state average is $4,357 monthly.

Some 640,000 retirees call Norman, Oklahoma home, and with beautiful natural landscapes, cultural sights, and celebrations, you can find a little of everything in the state. The average mortgage in Norman is $1,521 a month.Homes in Oklahoma City, on average, are in the listing range at $290,000, while homes in Norman sold for around $265,000. You can retire cheaply with $759,481 in savings, or $52,816 per year.

Independent living in Norman averages $3,864 per month, which is a little higher than the state average at $3,810 per month, but lower than the national average. However, depending on how much privacy you want, it goes as high as $6,450 per month. Assisted living will average around $4,738 monthly, while memory care for sufferers of dementia or Alzheimer's lands at around $4,699 per month.

Greensboro, North Carolina, like some other Southern college towns, has a number of natural amenities, with typically moderate weather in winter and summer being one of the best. Ample green space in the form of national parks and forests, as well as beaches for hanging around when it gets warm. At just over $905,000 required in retirement savings, and around $58,645 per year in expenses, this is one of the most expensive towns to retire in our list, but still falls way short of the $1.4 million most Americans believe they need to retire in the U.S. The average cost of a home in the state is $320,000, while the average cost in Greensboro is $312,000. That said, the average home in Greensboro sold for around $280,000. Unsurprisingly then, the average mortgage is pretty affordable at $1,571 per month, with monthly expenses costing around $1,702 per month.

Independent living in a community averages about $4,334 per month, which is higher than the state average of $3,654. This can rise as high as $6,200 per month depending on how you choose to live, so community living may not be as affordable as in other towns. Assisted living averages out to $4,478 per month, which is surprisingly not much more expensive than the starting average for independent living. 

The University of Texas at Dallas is probably the best known college in Richardson. Warm weather, golf courses, and a gorgeous coastline offer retirees the opportunity to play, fish, or boat. With healthcare and groceries in the state being considered among the lowest in the U.S., Texas makes a great choice for retirees. The average mortgage for the state is pretty high at $2,767, with cost of living expenses of $1,927 per month. The median cost of a home in Texas is about $335,773, while the average cost of a home in Richardson is around $450,000. Simply put, housing here is not cheap. For cheaper housing in Texas, maybe retire in this quaint Texas college town full of restaurants and music instead, with a median home price lower than Richardson's.

In terms of independent living, you can expect costs to start at a median of $4,650 per month, which is higher than the state average of $4,080 per month. Acute care like assisted living will cost you $5,228 per month, and if you need specialized memory care, that goes up to an average $5,742 per month. While retiring in Richardson, Texas will cost you a little more than other towns on our list, you have the benefit of knowing the state won't tax your retirement savings, including pension, Social Security, 401(k), and IRA's.

While South Carolina has no shortage of outdoorsy activities and green, natural space to enjoy them in, Greenville is more for people who enjoy the energy of a city with a small town charm. There are roughly 14.4% of the population who are 65 years or older, so you're guaranteed a community of likeminded people in your age range. The monthly median expense is $1,740 monthly, and your median monthly mortgage payment is $1,789. The median cost of living for the state is $57,203 per year, with necessary retirement savings of just around $869,140. Adding up the average mortgage and monthly expenses in Greenville of $1,740 and $1,789, gives us an average $3,529, or an annual cost of living of $42,348. This is a huge difference from the state average of $57,203.

Independent living averages $4,164 per month, which is actually significantly higher than paying your average mortgage plus living expenses. However, It could make sense to dive into community living if all your meals, cleaning, maintenance, and activities are part of your costs. Whether you require general assistance around your home or more specialized memory care, you expect to pay somewhere in the range of $4,418 per month.Not too far away from Greenville is another historic college town in the heart of South Carolina that's a perfect place to retire. 

Tennessee is a haven for retirees, with over 55 retirement communities, and there are lots of options to choose from when it comes to independent living in place with other retirees. National parks and the Tennessee River make hiking, boating, fishing, and camping an easy pursuit, while country music festivals and close proximity to cultural landmarks like Elvis Presley's Graceland in Memphis, make staying entertained a breeze. Tennessee also happens to be a state where neither public or private pensions, Social Security benefits, or retirement savings are taxed by the state.

You'll need just over $791,000 to retire comfortably here, with a median of just over $54,000 in living expenses per year. In Chattanooga specifically, your average monthly living expenses are $1,766, and your average mortgage is around $1,791. That's a total of $3,557 per month, or $42,684 in total cost of living per year. That's more than $11,316 below the state average annually, which is already pretty decent. If you want to live in one of those 55 plus retirement communities independently, you can expect an average of $3,307 per month, with a two bedroom apartment landing around $4,523 per month, and a fully detached bungalow for an average $4,637. The average cost of assisted living in 2024 was $66,126 per year, or $5,511 per month. In Chattanooga, the average monthly cost of assisted living is $3,873, or $46,476 per year.