These Northeast Towns Are Perfect for Retirement—and Still Affordable

Retiring in the Northeast isn’t exactly what most people think of when looking for an affordable place to spend their golden years. Housing costs in major East Coast cities are famously steep, and even smaller towns can command premium prices. However, if you venture off the beaten path, you can find some surprisingly reasonable housing options. These areas offer a sweet spot to enjoy the Northeast’s distinct character without completely draining your retirement savings. 

Investopedia teamed up with Travel + Leisure to find the top 50 places to retire in the United States. We included 10 cities for each geographic region, focusing on affordability and quality of life. If you’re a fan of the Northeast’s cultural institutions, top-notch health care system, and natural beauty, you’ll be delighted to learn that we found plenty of affordable towns for retirees. 

Key Takeaways

• The Northeastern United States can be a surprisingly affordable place to retire if you’re selective about where you choose to live.
• The top 10 cities to retire in the Northeast offer cultural opportunities, access to health care, and a more reasonable cost of living than you might expect.
• Be aware, however, that all Northeastern cities face harsh winter weather. If you’re not a winter sports person—or just plain don’t like snow—you might want to look elsewhere.

Top Retirement Destinations in the Northeast

1. Hermitage, Pennsylvania

Hermitage is a small city in Mercer County, in western Pennsylvania, located about 15 miles northeast of Youngstown and about 60 miles northwest of Pittsburgh.

Retirees moving to Hermitage will enjoy a significantly lower cost of living compared to many other retirement destinations. In Mercer County, the median home value is around $153,600, which is reasonable for retirees looking to stretch their savings further. For transportation costs, retirees should budget around $1,243 per month in Mercer County, and the median monthly food costs for a two-person household in the county are $631.

Hermitage is a very laid-back place, and retirees will appreciate the quieter pace of life. For arts and entertainment, the Mercer County Historical Society hosts occasional events. For other cultural experiences, Pittsburgh and Youngstown are just an hour-ish away. 

Note

While it has a small-city feel—the population is just around 15,000—the city still offers decent amenities. There are several nice parks, including Buhl Park, which hosts community events and includes a golf course.

2. Johnstown, Pennsylvania

Retiring in Johnstown, Pennsylvania comes with some definite financial perks. Housing cost are well-below average in Cambria County—home to Johnstone—in the southwestern part of the state.

The median home value is $115,900, which indicates that retirees may get a lot more house for their money here, if interested in buying.

Tax-wise, Pennsylvania has that sweet deal where they don’t tax Social Security benefits. The state also won’t tax any withdrawals from your retirement accounts—401(k)s, IRAs, and pension—which is fantastic for retirees. 

When you’re budgeting for other areas of your life, food and groceries will cost you around $622 per month in Cambria County. The median monthly cost of housing in Cambria County is $711 and transportation costs are $1,189, well below the national average.

As a city, Johnstown has some unique charm. The city’s proud of its industrial heritage, which you can explore at the Johnstown Flood Museum and the Heritage Discovery Center. If you’re into arts and culture, the Pasquerilla Performing Arts Center at the University of Pittsburgh-Johnstown brings in various shows and performances.

For outdoor enthusiasts, there’s easy access to the Laurel Highlands for hiking and skiing at Hidden Valley. The Ghost Town Trail is great for walking or biking, and Johnstown’s Inclined Plane (the steepest vehicular inclined plane in the world!) is both a tourist attraction and a cool way to get a view of the city.

One thing to keep in mind about Johnstown: The terrain is pretty hilly, and winters can be snowy. This should factor into your decision if mobility is a concern. 

3. Altoona, Pennsylvania

Retiring in Altoona, Pennsylvania has some perks that are worth considering, especially if you’re looking for a budget-friendly retirement spot. Altoona is located in Blair County and was established in 1849 after the chartering of the Pennsylvania Railroad. Today, Altoona is home to the Altoona Curve minor league baseball team and the Altoona Symphony Orchestra.

Now, let’s talk money. Housing in Blair County is pretty affordable; the median home value is  $156,700, which means your retirement savings could go a long way here. Median monthly food costs in Blair County are $620, and monthly transportation costs will only set you back around $1,163. At the county level, the average monthly taxes owed are $593. And, like the rest of Pennsylvania, you’ll get that great tax break where retirement income—Social Security benefits and withdrawals from individual retirement accounts (IRAs), 401(k)s, and pension funds—isn’t taxed. 

For entertainment and the fun stuff in Blair County, you’ve got the Mishler Theatre downtown that puts on shows throughout the year, and the Railroaders Memorial Museum is pretty cool if you’re into history.

One final thing to note: Like much of central Pennsylvania, you’ll get all four seasons here, including some proper winter weather. However, if you don’t mind some snow, the winters can be beautiful in Altoona.

4. Utica, New York

Utica, New York is a great retirement destination, especially if you’re looking for a mid-sized city (population around 63,000) with a rich cultural scene. Utica is located on the Mohawk River, at the foot of the Adirondack Mountains. It is approximately 95 miles away from the capital of New York, Albany, and 240 miles northwest of New York City. 

Living in Oneida County is relatively affordable compared to many other retirement destinations. 

The median home value in Oneida County is $171,100. Monthly groceries and food might cost you around $636 for two adults. Transportation costs in Oneida County typically run around $1,197 monthly, and the median monthly housing costs are $961.

Warning

While the state offers some exemptions, withdrawals from IRAs, 401(k)s, and pensions are taxed. (Social Security benefits are not taxed.) 

Transportation and health care are strong points for Utica. There are over 300 health care facilities accessible to Oneida County, including several specialized medical centers, and 14 hospitals in the county. Plus, major medical centers in the bigger cities of Syracuse and Albany are within driving distance. 

Utica has a fantastic cultural scene. Munson is a fine arts center in Utica; the museum of art includes an impressive collection of Hudson River School landscapes. The Stanley Theatre, a gorgeous historic venue, brings in shows and concerts throughout the year. Plus, the city’s Italian heritage means you’ll find some great local restaurants. 

If you’re into outdoor activities, you’re in luck. You can hike and ski in the Adirondacks, and the Erie Canal Trail is great for biking and walking.

5. Union, New York

Union, New York is located in Broome County, in the Central region of upstate New York. European settlers arrived in the area in the early 1780s and established the city of Union in 1791.

Today, Union is part of the greater Binghamton, New York area. As a result, retirees living in Union are close to some bigger cities—without having to deal with all the hassles of big-city life—and there’s a good mix of urban and natural attractions. The area also has access to many cultural attractions. The Binghamton Philharmonic, the Anderson Center for the Arts at Binghamton University, and the Roberson Museum and Science Center are all nearby.

The cost of living in Broome County is reasonable. The median home value in Broome County is $145,100, which is very affordable compared to many other places in New York. For monthly expenses, a two-person household might spend about $670 per month on groceries and food. Transportation costs usually run around $1,152 monthly in Broome County. The median monthly housing costs in the county are $951, and taxes are around $737 per month on average.

Important

Residents of Union face the same tax situation as residents of Utica, New York (and all other cities in New York State). New York State taxes retirement income—so withdrawals from your IRAs, 401(k)s, and pensions will be taxed. 

6. Springfield, Massachusetts

Springfield, Massachusetts is the third most populous city in the state of Massachusetts, and by far the largest city on this list, with a population of around 150,000. The city was established in 1636. In the late 1700s, during the American Revolution, Springfield was designated by George Washington as the site of the Springfield Armory—the primary center for the manufacturing of U.S. military firearms at the time—because of its central location. 

History buffs will appreciate the history of Springfield, which is celebrated in some of the city’s museums. The Springfield Armory documents two centuries of military history. The Springfield Museums is a complex of museums with one admission price; you can visit a history museum, plus an art museum celebrating the work of the author Dr. Seuss—the Amazing World of Dr. Seuss Museum—all with the same ticket. (Theodor Seuss Geisel, aka Dr. Seuss, was from Springfield!)

In Hampden County, the median home value is $276,300. While it’s not the cheapest housing market on our list, it’s still more affordable than major East Coast cities. Monthly food and groceries might cost you around $696 for two people in Hampden County, and transportation costs are $1,188 per month, on average. 

Tax-wise, it’s important to keep in mind that the state of Massachusetts taxes withdrawals from IRAs, 401(k)s, and pension funds. However, Social Security benefits are not taxed in the state. 

7. Conway, New Hampshire

Conway, New Hampshire is a perfect place to retire if you’re looking for a city with classic New England charm and plenty of access to nature. Conway is right in the heart of Mount Washington Valley, which is an outdoor enthusiast’s paradise. In winter, you’ve got amazing skiing nearby at Cranmore Mountain Resort, Attitash Mountain Resort, and Wildcat Mountain Resort. In the summer, retirees can stay active by hiking or kayaking and canoeing in the Saco River.

Carroll County’s median home value is $348,900; while this is technically the highest median home value on this list, it’s pretty typical for a scenic New Hampshire city. Monthly groceries and food will likely run you about $722 for an average two-person household. Monthly transportation costs in Carroll County are around $1,461, on average, and median monthly housing costs are $1,246.

Important

Here’s a big perk: New Hampshire has no state income tax and no sales tax.

There are only two hospitals in Carroll County, and fewer than 100 health care facilities, which is on the lower end of our featured cities. For more specialized treatment, you might need to travel a couple of hours to Portland, Maine or Manchester, New Hampshire. (Definitely something to consider if you have specific medical needs.)

Winters can be intense, and the tourist season can make the town pretty busy. But, if you love nature, enjoy a four-season climate, and want to be part of an active community, Conway could be a great fit for you in retirement. 

8. Vineland, New Jersey

Vineland, New Jersey offers some interesting perks for retirees who are looking for a spot that’s more affordable than North Jersey but still offers good access to major cities in the Tri-State area. And, the location is one of the best things about Vineland. It’s close to the beaches at Ocean City or Atlantic City if you want some shore time. Philadelphia’s cultural scene is within reach for day trips, and you’re in the heart of New Jersey’s farm country, which means there’s great produce and several wineries in the area.

In Cumberland County, the median home value is $205,600, which is pretty decent for New Jersey. Monthly food and groceries in Cumberland County cost around $620, on average, and transportation costs are $1,257 per month. 

Taxes are an important consideration for all retirees, of course. New Jersey does tax retirement income (IRAs, 401(k)s, and pension funds), although there are some exemptions for seniors. 

Many seniors will find the lifestyle in Vineland appealing. It has an interesting array of local restaurants, particularly along Landis Avenue. There are also nice parks, including Giampietro Park. The Landis Theater is in a beautifully restored building and hosts performances throughout the year. 

The Vineland Historical Society keeps the local history alive, and the Palace of Depression is a fascinating piece of local folklore. Originally built in the 1930s by George Daynor, who claimed to be a former gold miner who lost his fortune in one of the stock market crashes during the Great Depression, the Palace is a structure made of scraps, junk, and other discarded materials. While it was torn down in the 1960s, an effort to rebuild the Palace started in the decades after and continues today.

9. Concord, New Hampshire

Concord, New Hampshire is a great choice for retirees, in part because of its winning combination of capital-city amenities and New England charm. 

There are good restaurants that cater to the business and government crowd and lots of community events because it’s the state capital. You can also tour the New Hampshire State House on North Main Street for free. (It’s the oldest state capitol where the legislature still meets in its original chambers!)

In Merrimack County, the median home value is $330,600. Monthly groceries and food costs are approximately $695 for two people in Merrimack County, and transportation will cost you around $1,395 per month. Plus, a huge advantage of living in New Hampshire as a retiree is no state income tax and no sales tax! The state won’t tax your Social Security benefits or any withdrawals from your IRA, 401(k), or pension fund.

The health care landscape of Concord is also a bonus. There’s a local hospital and medical facilities in Concord, and residents are also driving distance from the hospitals in Manchester and Boston’s world-class medical facilities.

The Capitol Center for the Arts brings in some great shows, and the Red River Theatre shows independent and foreign films. Main Street in Concord features cute local shops, restaurants, and cafes. The Concord Community Music School puts on concerts and events for the community.

10. Pittsfield, Massachusetts

Retirees who love arts and culture, but who want a more laid-back lifestyle than what you’d find in a bigger city, will love Pittsfield, Massachusetts. The cultural scene in Pittsfield includes world-class arts and entertainment. The Colonial Theatre is located in a gorgeous, restored venue in downtown. The Barrington Stage Company is a destination for great theater, and lovers of art and science will enjoy the Berkshire Museum. In the summer, Tanglewood (home of the Boston Symphony Orchestra’s summer season) is nearby, in Lenox.

In Berkshire County, the median home value is $283,800. On average, groceries and food will cost about $750 per month, and transportation typically runs around $1,299 monthly in Berkshire County. Massachusetts doesn’t tax Social Security income, which is nice for retirees, although other retirement income (IRAs, 401(k)s, and pension funds) is taxed. 

The Bottom Line

As a region, the Northeast offers some significant advantages for retirees, starting with access to exceptional health care. Some of the nation’s top hospitals and medical centers are located in these states. The cultural scene is incredibly rich; there are world-class museums, theaters, and historic sites at your fingertips. The Northeast also enjoys four distinct seasons, so you can ski in the winter and go to the beach in the summer without having to travel long distances. 

The destinations on this list highlight some interesting pockets of affordability and cities where you can enjoy the benefits of Northeast living without the premium prices of the major metropolitan areas of Boston or New York City, for example, these locations offer an attractive balance of affordability and amenities. The combination of below-average living costs, cultural opportunities, and proximity to major Northeast hubs makes these cities particularly attractive for retirees looking to maintain their quality of life without stretching their retirement savings too thin.

Note

To learn more about how we created this list of the best places to retire in the northeastern U.S., read our methodology.