Top Destinations for Retirement That Are Friendly to Renters
In the current economic landscape, understanding the U.S. housing market and the best cities for retirement is crucial for those looking to make a move. Here's a breakdown of the key points to consider.
Housing Market Overview
The median price for existing single-family homes in the U.S. in Q2 2025 reached a record high of $369,000, marking an increase of $19,000 from Q1 2025. The median price for new single-family homes was approximately $410,800. The average 30-year fixed mortgage rate in mid-July 2025 was around 6.75%. These figures indicate that while home prices remain elevated and near record highs, mortgage rates are relatively high compared to earlier years, which can impact affordability and buyer demand [1][2][4].
The home price growth rate for single-family homes has moderated somewhat, with a 4.1% annual increase year-over-year in Q2 2025, down from 5.0% in the previous quarter [3].
Retirement Cities
Athens, Georgia
Athens, GA is renowned for its vibrant music and arts scene, with venues like the 40 Watt Club and Georgia Theatre. The city has a population of 129,550 and a cost of living that is 12.4% below the U.S. average. Downtown Athens is about 70 miles northeast of downtown Atlanta and offers easy access to a thriving music and arts scene [5].
Columbus, Ohio
Columbus, OH has a population of 917,679 and a cost of living that is 8.6% below the U.S. average. The Ohio State University, located in Columbus, provides plenty of music and theater, and Ohio State's lifelong learning program, Program60, offers tuition-free, non-degree programs for seniors age 60 and older [6].
San Antonio, Texas
San Antonio has a population of 1,532,653 and a cost of living that is 8.7% below the U.S. average. The city is known for its food, which combines its European and Mexican heritage, and was one of only two cities in the U.S. - and only 36 in the world - to be named a UNESCO Creative City of Gastronomy, an international culinary destination [7]. San Antonio also boasts world-class healthcare for both military and civilians, including the U.S. Army Medical Command and Brooke Army Medical Center, the Army's flagship medical institution, a Level 1 trauma center.
Raleigh, North Carolina
Raleigh, North Carolina is filled with arts, culture, entertainment, restaurants, museums, and festivals, and is known for its moderate temperatures and outdoor activities. The city has a population of 498,388 and a cost of living that is 3.5% above the U.S. average. Raleigh is home to 10 colleges, including NC State, which helps keep the rental market active but prices high [8].
Knoxville, Tennessee
Knoxville, TN has a population of 202,639 and a cost of living that is 8.2% below the U.S. average. Many retirees are pleasantly surprised to learn that retiring in Knoxville makes strong financial sense due to a low cost of living. The city offers plenty of outdoor activities and opportunities to get lost in nature, with seven lakes and the Tennessee River nearby [9].
Birmingham, Alabama
Birmingham, Alabama offers opportunities to get outside in one of the many State parks, as well as a thriving arts and culture scene. The city has a population of 210,710 and a cost of living that is 6.2% below the U.S. average [10].
Tallahassee, Florida
Tallahassee, Florida is one of the cities on the list and offers warm weather, beaches, and low taxes, as well as opportunities for outdoor recreation and cultural activities. The city has a population of 199,968 [11].
Spokane, Washington
Spokane, WA has a population of 229,608 and a cost of living that is 3.1% higher than the U.S. average. Despite this, Spokane is known for its relatively affordable cost of living compared with other major cities in the Pacific Northwest, top-notch health care, and overall quality of life [12].
In conclusion, these cities offer a range of options for retirees, each with its unique charm and amenities. However, it's essential to consider the current state of the housing market, with high home prices and mortgage rates, and the potential benefits of renting. Renting may be a better choice for many retirees who want to relocate or assess their preferences without the long-term commitment of homeownership.
[1] https://www.cnbc.com/2025/07/22/existing-home-sales-fall-for-the-third-straight-month.html [2] https://www.freddiemac.com/pmms/archive/pmms30_20250715.pdf [3] https://www.realtor.com/news/housing-trends/existing-home-sales-fall-for-the-third-straight-month/ [4] https://www.cnbc.com/2025/07/22/existing-home-sales-fall-for-the-third-straight-month.html [5] https://www.athensga.com/ [6] https://www.osu.edu/ [7] https://www.sanantonio.gov/ [8] https://www.raleighnc.gov/ [9] https://www.knoxvillechamber.com/ [10] https://www.bhamnow.com/ [11] https://www.tallahassee.com/ [12] https://www.spokanecity.org/
The review of the U.S. housing market indicates that while home prices are at record highs, mortgage rates are comparatively higher, which might impact affordability and buyer demand. Retirees considering a move to these top cities – Athens, Georgia, Columbus, Ohio, San Antonio, Texas, Raleigh, North Carolina, Knoxville, Tennessee, Birmingham, Alabama, Tallahassee, Florida, and Spokane, Washington – should also consider the benefits of renting over homeownership, given the current state of the housing market. Additionally, individuals interested in investments may find opportunities in decentralized finance (defi) and Initial Coin Offerings (ICO), as home-and-garden lifestyle enthusiasts might discover innovative home improvement techniques and ideas from ido (Innovation Design Organization).
