If the mountains are calling but your retirement budget is tightening, Virginia may be worth a look.
Eight locales in the Old Dominion made a new GOBankingRates top 25 list of the most affordable mountain towns for retirees. Tennessee and North Carolina each placed three cities on the list. Other states represented include Alabama, Arkansas, California, Georgia, New Hampshire, New York, Montana and Utah.
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To compile its top 25, GBR identified “mountain towns” with data from multiple travel sites. GBR then analyzed data for each city — including median income and average home value — to produce a list of the most affordable spots for the 65 and up set.
It’s worth noting that “affordable” and “mountain location” don’t always translate into high livability. Two of the top four cities in GBR’s list get AreaVibes livability scores below 60 on a scale from zero to 100.
Check out our key findings, followed by a town-by-town breakdown.
Key Findings
- Galax — a southwestern Virginia city located near the Blue Ridge Parkway — tops GBR’s list of the most affordable mountain towns for retirees. The average annual cost of living in Galax comes in under $33,000.
- Ogden, Utah, has the highest average annual cost of living in the list at about $48,000.
- GOBankingRates also factored in the percentage of residents age 65 and up in its rankings. Gorham, New Hampshire, tops that category at 33%.
- Average home values for cities in the list range from $172,000 to nearly $400,000.
1. Galax, Virginia
- Average home value: $171,990
- Median household income: $38,675
- Annual cost of living: $32,559
- % of population age 65+: 21.1%
2. Whitwell, Tennessee
- Average home value: $219,671
- Median household income: $67,774
- Annual cost of living: $36,540
- % of population age 65+: 17.8%
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3. Gorham, New Hampshire
- Average home value: $243,716
- Median household income: $62,679
- Annual cost of living: $37,033
- % of population age 65+: 32.9%
4. Butte-Silver Bow, Montana
- Average home value: $272,147
- Median household income: $61,857
- Annual cost of living: $38,820
- % of population age 65+: 19.5%
5. Bedford, Virginia
- Average home value: $268,072
- Median household income: $70,288
- Annual cost of living: $39,385
- % of population age 65+: 21.3%
6. Roanoke, Virginia
- Average home value: $270,799
- Median household income: $55,378
- Annual cost of living: $39,895
- % of population age 65+: 17.8%
7. Abingdon, Virginia
- Average home value: $275,706
- Median household income: $54,544
- Annual cost of living: $40,035
- % of population age 65+: 24.6%
8. Eureka Springs, Arkansas
- Average home value: $308,630
- Median household income: $38,425
- Annual cost of living: $40,112
- % of population age 65+: 31.4%
9. Waynesboro, Virginia
- Average home value: $305,019
- Median household income: $59,994
- Annual cost of living: $41,070
- % of population age 65+: 17.9%
10. Jim Thorpe, Pennsylvania
- Average home value: $266,618
- Median household income: $72,904
- Annual cost of living: $41,463
- % of population age 65+: 22.1%
11. Luray, Virginia
- Average home value: $303,290
- Median household income: $50,150
- Annual cost of living: $41,711
- % of population age 65+: 29.4%
12. Chattanooga, Tennessee
- Average home value: $310,270
- Median household income: $64,523
- Annual cost of living: $41,772
- % of population age 65+: 17.3%
13. Huntsville, Alabama
- Average home value: $284,378
- Median household income: $74,714
- Annual cost of living: $41,784
- % of population age 65+: 16.4%
14. Jonesborough, Tennessee
- Average home value: $324,793
- Median household income: $74,015
- Annual cost of living: $42,428
- % of population age 65+: 21%
15. Bryson City, North Carolina
- Average home value: $311,860
- Median household income: $44,167
- Annual cost of living: $42,581
- % of population age 65+: 20.4%
16. Sylva, North Carolina
- Average home value: $320,079
- Median household income: $44,086
- Annual cost of living: $43,817
- % of population age 65+: 14.6%
17. Harrisonburg, Virginia
- Average home value: $346,912
- Median household income: $62,254
- Annual cost of living: $44,164
- % of population age 65+: 10.5%
18. Lexington, Virginia
- Average home value: $351,033
- Median household income: $84,517
- Annual cost of living: $44,458
- % of population age 65+: 16.9%
19. Stroudsburg, Pennsylvania
- Average home value: $338,919
- Median household income: $66,674
- Annual cost of living: $45,117
- % of population age 65+: 27.6%
20. Dahlonega, Georgia
- Average home value: $375,551
- Median household income: $77,516
- Annual cost of living: $45,570
- % of population age 65+: 16.3%
21. Crestline, California
- Average home value: $354,263
- Median household income: $77,786
- Annual cost of living: $46,065
- % of population age 65+: 22.1%
22. Lake Placid, New York
- Average home value: $347,518
- Median household income: $41,612
- Annual cost of living: $46,191
- % of population age 65+: 16.7%
23. Waynesville, North Carolina
- Average home value: $347,641
- Median household income: $54,923
- Annual cost of living: $46,369
- % of population age 65+: 26.8%
24. Parowan, Utah
- Average home value: $384,558
- Median household income: $53,145
- Annual cost of living: $46,500
- % of population age 65+: 18.1%
25. Ogden, Utah
- Average home value: $399,062
- Median household income: $72,575
- Annual cost of living: $47,654
- % of population age 65+: 11.6%
Methodology: For this study, GOBankingRates analyzed mountain towns across the U.S. to find the most affordable ones for retirees. Mountain towns were identified using online sources Travel + Leisure, Islands.com, LiveAppleSprings.com, LoveExploring.com, Hotels.com, RVTrader.com, TheBoutiqueAdventurer.com, TravelAwaits.com, PlanetoftheHotels.com, OutsideOnline.com, and TheTravel.com. For each location a number of factors were identified including total population, population age 65 and over, total households, and median household income (all sourced from the 2024 U.S. Census 5-Year American Community Survey). Cost-of-living indexes were sourced from Sperling’s BestPlaces. Using the national average expenditure costs for retirees (soured from the Bureau of Labor Statistics Consumer Expenditure Survey for retired consumer units), the average expenditures were calculated for each city. The average single-family home value was sourced from the Zillow Home Value Index for January 2026. Assuming a 10% down payment and using the national average 30-year fixed mortgage rate (sourced from Federal Reserve Economic Data), the average mortgage was calculated for each city. Using the average mortgage and expenditure cost, the total cost of living for retirees was calculated for each city. Average monthly Social Security income was sourced from the Social Security Administration’s Monthly Statistical Snapshot for January 2026. Using the total cost of living and the average monthly Social Security income, the average monthly and annual total cost of living for retirees after Social Security income was calculated for each city. The towns were sorted to show the most affordable for retirees. All data is up to date as of March 5, 2026.
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This article originally appeared on GOBankingRates.com: 25 Most Affordable US Mountain Towns for Retirees
