5 Small Towns That Feel Rich for the Middle Class (And How Much It Costs To Live There)

The cost of living in the U.S. has grown exorbitantly expensive. The Federal Reserve reported the median home price at $420,400, and the average household spent $77,280 in 2023, according to the most recent Consumer Expenditure Survey from the U.S. Bureau of Labor Statistics (BLS).

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That makes it harder than ever to live the American dream on the median household income, which was $80,610 in 2023, according to the U.S. Census Bureau.

But many charming towns across the country offer a rich, full lifestyle for a fraction of the cost of living in or near a major city. Try the following small towns that offer great bang for your buck, without a “boondocks” vibe.

Bellaire, Michigan

• Average Home Price: $325,807

• Monthly Cost of Living for One Person: $2,367

Located in northern Michigan, Bellaire sits nestled among seemingly endless hiking trails and crystal clear lakes.

“Bellaire is the home to Shanty Creek resort, dozens of golf courses and [has] access to the chain of lakes that includes Torch Lake,” explained Andy LaPointe, author and founder of Up North Dream. “National Geographic recognized Torch Lake a few years back as the third most beautiful lake in the world.”

Northern Michigan also boasts several ski resorts, the scenic Sleeping Bear Dunes and Mackinac Island. Start with a road trip through the region to fall in love with it.

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Rutland, Vermont

• Average Home Price: $258,267

• Monthly Cost of Living for One Person: $3,100

Speaking of ski resorts, Rutland sits just 25 minutes from the renowned slopes of Killington — without the shocking resort-town property prices.

In the warmer months, residents also enjoy hiking and mountain biking in the Green Mountains and Taconic Mountains. And that says nothing of Vermont’s famous fall foliage for leaf peepers.

Local Rutlanders also claim the title of the longest-running Halloween parade in the country. Check it out for yourself to see if it lives up to the hype.

Bisbee, Arizona

• Average Home Price: $217,019

• Monthly Cost of Living for One Person: $2,233

Just north of the border with Mexico, the historic town of Bisbee maintains its frontier charm.

Bisbee started as a mining town, and you can spot the town’s roots in the saloons at Brewery Gulch and the Smithsonian-affiliated Bisbee Mining and Historical Museum. The town is rich with culture and history, from its monthly Bisbee After Five art walk to its Historic Home Tour.

Outdoors enthusiasts also appreciate the surrounding Mule Mountains, while locavores enjoy the weekly farmers market. The town is just a few hours from Phoenix for easy weekend escapes to “the big city,” itself an affordable metro area.

“Check out the small towns within driving distance from Phoenix,” said Echo Wang, co-founder of EpicBooks. “Cultural and recreational opportunities abound, from the Phoenix Art Museum and theaters to meticulously maintained hiking trails at Camelback Mountain and world-class golf courses.”

Branson, Missouri

• Average Home Price: $256,766

• Monthly Cost of Living for One Person: $2,200

Famed for its post-career-peak entertainment and live music scene, Branson remains affordable and fun.

Fewer people know about Branson’s natural beauty. It sits in the southern Ozark Mountains, surrounded by lakes and extensive hiking trails. Residents and tourists enjoy outstanding fishing, boating and other waterfront activities. Check out Table Rock Lake and Lake Taneycomo, as well — two larger lakes near Branson.

Montrose, Colorado

• Average Home Price: $439,629

• Monthly Cost of Living for One Person: $2,700

All right, so Montrose isn’t “cheap” compared to nationwide averages. But it ranks among the most affordable mountain towns in Colorado, attracting budget-conscious residents who love world-class skiing, hiking, mountain biking, fishing and other mountain activities.

Robert Persichitte, a certified financial planner with Delagify in Denver, highlighted just how wildly expensive the mountain towns of Colorado have become. “I have clients looking to buy in Aspen. They’re looking at $1.5 million for a modest two-bedroom condo.”

Montrose lies a little over an hour away from Telluride. Residents can access Telluride’s famous slopes and upscale charm without the upscale prices. For that matter, Montrose features its own charming and historic downtown.

The town also offers easy access to Black Canyon of the Gunnison National Park. And wine lovers can dart up to Palisade in just over an hour to enjoy Colorado’s winery hub.

Visit these towns on a quick getaway to start developing a sense for day-to-day life in them. You might just discover your ideal home town — without the hustle or high prices of major cities.

Editor’s note: Average home prices were sourced from Zillow and cost of living was sourced from Sperling’s BestPlaces. Data is accurate as of Dec. 30, 2024.

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This article originally appeared on GOBankingRates.com: 5 Small Towns That Feel Rich for the Middle Class (And How Much It Costs To Live There)