5 Most Affordable Waterfront Cities To Retire in 2025
Retiring to a home on the water sounds dreamy, but it can be costly. Not all beachfront property has to cost an entire retirement fund, though.
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Real estate experts weighed in on which cities offer proximity to the water without costing an arm and a leg. Here are their picks.
Erie, Pennsylvania
Average Home Price: $181,256
“Access to the Great Lakes is one reason retirees should consider Erie, but its affordability is the clincher,” Eric Preston, CEO of NewConstructionHomes.com, remarked. He highlighted the cost of living is 13% lower than the national average, and housing is 43% lower.
“As more waterfront cities become scarily unaffordable, Eerie might attract more people looking to retire without risking being house-poor or overspending on their monthly grocery bills,” Preston continued. Pennsylvania also does not tax Social Security benefits, and has the lowest flat tax rate in the country at 3.07%, according to AARP.
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Daytona Beach, Florida
Average Home Price: $246,873
“No list of affordable waterfront cities for retirees is complete without Daytona Beach,” Preston commented. “The housing market is experiencing some decline, dropping 3.4% over the last year, making it a good time for retirees to buy in the area. This drop in value could be a market correction or reflect temporary market conditions. It’s not a concrete sign that the area is losing value.”
Preston added that Daytona Beach has a low cost of living, which makes living easy in the Florida city. There is also no income tax, which helps lower costs even more.
Duluth, Minnesota
Average Home Price: $262,257
Preston believes Minnesota is going to be the state more and more retirees start to flock to. “Duluth, in particular, offers a lot to retirees, including a low cost of living, safe communities and access to quality healthcare,” he said. “There’s also a really fun arts and culture scene for retirees looking for a bit more excitement.”
Norfolk, Virginia
Average Home Price: $294,871
Virginia does not tax Social Security benefits, which is good news for retirees. The waterfront real estate is also much cheaper than retirees will find other places, but Preston cautioned prices are going up. However, that’s not necessarily bad news.
“This value is up almost 4% from last year,” he noted. “This could mean that housing prices are rising, hinting at future unaffordability, or it could suggest that it’s a valuable market for retirees looking for a smart real estate investment and to live in a reasonably priced waterfront city.”
Stuart, Florida
Average Home Price: $396,993
Jeff Lichtenstein is the CEO of Echo Fine Properties, and said that since supply is down in the Northern Palm Beaches, Stuart is the next best thing.
“The downtown is a real downtown and not contrived of strip malls that are typical of South Florida,” he stated. “The waterfront is amazing with beaches, boating, fishing, snorkeling and just beautiful. Most of all it’s a step below in pricing of what Palm Beach County has become.”
Lichtenstein also highlighted that Stuart offers golfing communities and lots of nearby healthcare options for retirees.
Editor’s note: Average home prices were determined by the latest Zillow data as of Jan. 16, 2025.
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