11 best retirement cities with a typical mortgage payment below $ 700

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Why an affordable mortgage is important in retirement

The Consumer Expenses Survey of the US Labor Statistics Office shows that retired households spend around $ 5,000 per month, with housing as the highest cost. Maintaining the relatively low mortgage payments, for example, less than $ 700, can leave more space in your budget for medical care, travel and leisure activities.

How the best retirement cities are chosen

To choose the best retirement cities, Investopedia considered these four factors: cost of living, access to trips, access to medical care and access to entertainment. The collection and evaluation of these data points determined the affordability and interest for retirees, which means that the best were chosen both because they are economic places to live and because they offer an attractive quality of life and access to services. Get more information about our methodology.

11 superior retirement places with mortgages below $ 700

In these places, it is possible to maintain a monthly mortgage payment below $ 700. The estimates are based on the average price of the county housing with a 20% decrease of 20% and the average mortgage rate of 30 years for that state as of September 24, 2025. Retirees who reduced more can see even lower payments, while choosing a shorter loan period, as 15 or 20 years They would change the estimate.

Ware County, Georgia

In Ware County, the typical mortgage payment is approximately $ 550. Located approximately 90 minutes from Jacksonville, Florida, and only one hour from the Atlantic coast, offers strong access to medical care for its almost 14,000 residents.

Adams County, Mississippi

In this county, approximately two hours of Baton Rouge, Louisiana and Jackson, Mississippi, the typical mortgage payment is $ 543. Home of approximately 1,500 residents, it also offers a friendly fiscal climate for retirement: Mississippi does not tax the benefits of social security or retirement withdrawals.

Guadalupe County, New Mexico

With an average price of the housing of $ 107,200, the payment of typical mortgages in this county is only $ 556. Home to some 2,700 residents, it entails a very low climate risk and is approximately two hours of Albuquerque and Santa Fe.

Danville, Virginia

In this medium-sized city on the border of Virginia-North Carolina, the typical mortgage payment costs about $ 572. With a population of approximately 43,000 and only 45 minutes by car of Greensboro, North Carolina, the city also offers strong access to medical care.

Cambria County, Pennsylvania

In this county about 90 minutes east of Pittsburgh, a typical mortgage payment is only $ 600. Almost 18,000 residents call him home, and there is strong access to medical care nearby. Retirees also benefit from the tax approach to Pennsylvania, which exempts social security distributions, pensions and retirement plans.

Adams County, Iowa

The typical mortgage payment in this county is $ 603. With a population of just under 14,000 and located about 90 minutes east of Omaha, Nebraska, it also occupies a very low place for climate risk according to the Federal Emergency Management Agency (FEMA). Retirees obtain an additional advantage of Iowa, with the pension, 401 (k) and the income of the individual retirement account (anger) exempt from state taxes from 55 years.

Peace County, Arizona

In this county to the south of Lake Havasu, the typical payment of the mortgage is approximately $ 610. Hogar of approximately 3,400 residents, entails a climate risk of relatively low county level. Retirees also enjoy convenient access to the comforts of large cities, with Phoenix less than two hours by car.

Choctaw County, Oklahoma

The average housing price in this county is just under $ 120,000, which leads to a typical mortgage payment of $ 613. Located on a three -hour Dallas trip, Oklahoma City and Tulsa, the county has 5,200 residents and represents a relatively low climate risk.

Delaware County, Indiana

In this county of approximately 65,000 residents, the typical mortgage payment is $ 648. Anchored by Muncie, Home to Ball State University, offers strong access to medical care and is less than an hour from Indianapolis.

Gregory County, South Dakota

In this county along the Missouri River, the typical payment of the mortgage is $ 658. With just over 1,200 residents, it offers a small town life plus a great retirement advantage: South Dakota has no state tax for income, which means that social security withdrawals and retirement accounts are not taxed.

Bay County, Michigan

Limiting the Saginaw Bay of Lake Huron, this county of almost 32,000 residents has a typical mortgage payment of $ 690, based on an average price of the house of just over $ 135,000. It also offers strong access to medical care, which makes it an affordable and practical option for retirees.

The best of both worlds: cost and quality

These retirement points offer two key benefits (affordability and quality, and show that they can have both. With characteristics such as strong access to medical care, under climate risk and favorable fiscal environments, it is possible that retirees make intelligent financial decisions without sacrificing comfort. Minimizing financial tension means more time and resources for things you enjoy retirement.

How we track the best mortgage rates

The national and state averages mentioned above are provided as it is through the API of the Zillow mortgage, assuming a value-to-value (LTV) relationship of 80% (that is, an initial payment of at least 20%) and a credit score of the applicant in range 680-739. The resulting rates represent what the borrowers must expect when receiving quotes from the lenders based on their grades, which may vary from the teaser rates announced. © Zillow, Inc., 2025. The use is subject to the terms of use of Zillow.