9 Cost-Effective Towns In New England For Retirees
For many seniors, especially those on a budget, retiring in New England may seem like an unattainable dream. With states like Rhode Island in the mix (where the cost of living exceeds the national average), affordability can certainly be a concern. Nevertheless, New England actually has a wide range of affordable towns—it is simply a matter of knowing where to look. Even Rhode Island offers budget-friendly options for those who have their heart set on living in the “Ocean State.”
Along with a lower cost of living, these nine cost-effective New England towns offer affordable housing options, ensuring that your final forever home can also be your dream home. Combined with top-notch healthcare facilities, friendly locals, a relaxed atmosphere, and breathtaking natural surroundings, these New England towns rank among the best places to retire in the United States.
Berlin, New Hampshire
Named one of 2024’s “10 Best Places to Retire in New Hampshire” by NewHomeSource, Berlin is renowned for its affordability. The overall cost of living here is 21% lower than the US average and 26% below New Hampshire’s. But Berlin’s standout way to save is its housing costs. Homes here are 61% less expensive than the average New Hampshire residence, making Berlin one of the most affordable places to retire in New England.
Along with classic small-town attractions like the North Country Bowling Center, Berlin’s natural surroundings anchor the community. Main Street runs parallel to the Androscoggin River, meaning after-dinner views are a regular delight at spots like Fagin's Pub and River's Edge Takeout. With the addition of Berlin’s new 3,200-foot Riverwalk, residents can stay active while enjoying the sights of this beautiful waterway.
A few miles from downtown Berlin will bring you to another outdoor haven. Jericho Mountain State Park is Berlin’s top attraction in every season, with miles of trails for hiking, biking, and snowmobiling. This rugged park also has tons of scenic overlooks, picnic spots, and a swimming beach to enjoy in the summertime.
North Adams, Massachusetts
North Adams, Massachusetts, is another budget-friendly town for seniors seeking affordable housing. Here, the cost of a typical home is around 37% lower than the national average and 61% cheaper than the state rate. North Adams also offers an overall cost of living 25% below the Massachusetts average, meaning there are plenty of ways to embrace an affordable lifestyle.
While some affordable small towns are labeled “boring” for their lack of attractions and activities, that could not be further from the truth in North Adams. This “Museum Town” made the top 10 list of “2024 Best Places to Retire in Berkshire County” by Niche, with users noting the town’s art scene and culture. Highlights include the Berkshire Art Museum and Massachusetts Museum of Contemporary Art.
As the home of the Massachusetts College Of Liberal Arts, students and retirees alike are equally enthralled by the area’s natural landscape. Places like Natural Bridge State Park take the spotlight, offering a chance to see the only natural white marble bridge in all of North America. North Adams also serves as a gateway to a wealth of other picturesque landscapes and recreational opportunities. Whether boating at Windsor Lake, hiking the Hoosac Range Reserve, or taking the Cascades Trail for views of a 40-foot waterfall, natural beauty is around every corner.
Mystic, Connecticut
For another highly-rated retirement town, we can look to the charming community of Mystic, Connecticut. Niche rated this historic seaport village the #1 “Best Place to Retire in Connecticut” in 2024, applauding its attractions and coastal beauty. While housing is a bit more expensive here, the cost of living helps balance this out a bit, at 5% lower than the Connecticut average. Plus, with crime rates significantly below the national average, many are willing to spend a little more for increased peace of mind.
Similar to North Adams, Mystic boasts a variety of galleries and museums, such as the Mystic Museum of Art and the Denison Homestead Museum. Its shining attraction, however, is the Mystic Seaport Museum, the largest maritime museum in the country. With its remarkable collection of artifacts and a recreated seaport village, visitors can truly envision what life was like for 19th-century coastal New Englanders. For seniors interested in learning new skills, the museum also offers “See Classes” like Adult Beginner Sailing, Open Hearth Cooking, and Coopering for Beginners.
There are also plenty of ways to get out on the Mystic River in this namesake community. Whether boarding a Mystic River Cruise or docking your vessel at the Mystic Downtown Marina, boating is like breathing in this river town. Historic Downtown Mystic is also a delight to take in views of the water from land, whether strolling the area or dining at spots like S&P Oyster Restaurant and Bar.
Torrington, Connecticut
Around two hours inland will bring us to Torrington, one of the most comfortable places to retire in Connecticut. Torrington offers a similar cost of living as Mystic, around 5% below the state average. With crime rates well below the state average, the similarities continue. However, the two towns differ in housing prices, with Torrington being the more affordable of the two. On average, homes here are 39% less expensive than the rest of the state, making it one of the least expensive places to retire in New England.
In addition to historic and cultural attractions like the Hotchkiss-Fyler House Museum and Warner Theater, Torrington is famous for its state parks. Sunny Brook State Park is the more laid-back of the two, offering a blend of easy to moderate trails. The park’s senior-friendly paths take hikers through serene woodlands along the East Branch Naugatuck River. Similarly, Burr Pond State Park offers a tranquil escape with access to Burr Pond. The namesake centerpiece, an 85-acre manmade lake, is perfect for swimming, boating, and fishing. Locals can also enjoy scenic strolls along the 2.5-mile Walcott Trail, which traces the pond's borders.
Central Falls, Rhode Island
While the cost of living in Rhode Island is generally expensive compared to other states, you can still find affordable gems like Central Falls. Redfin (a real estate brokerage company) named this Rhode Island town the first of “10 Most Affordable Places to Live in Rhode Island in 2024.” A 3% lower cost of living compared to the Rhode Island average might not seem like much at first glance, but the savings add up. When you factor in a 29% lower cost of housing compared to the rest of the state, this makes Central Falls a great budget-friendly option.
As of 2024, NewHomeSource rated Central Falls #1 on their list of “The Best Places to Retire in Rhode Island.” Citing its “proximity to major cities” as a main perk, Central Falls residents have access to big-city attractions and healthcare facilities, like the Rhode Island Hospital in nearby Providence. For retirees looking to enjoy a gateway to urban centers without fully embracing life in the city, this Rhode Island town is the perfect in-between.
Along with Providence attractions like the Roger Williams Park Zoo and the Providence Performing Arts Center, Central Falls offers countless small-town attractions for the perfect mix of lifestyles. Jenks Park is a charming local park in the center of town, ideal for your everyday dose of fresh air and footsteps. For a water-based adventure, Explorer River Tours is another popular Central Falls attraction, allowing locals to explore the Blackstone River and its scenic tributaries.
Newport, Vermont
For retirees seeking a small-town atmosphere with friendly locals and simple luxuries, consider the top-rated town of Newport. Its setting on the eastern shore of Lake Memphremagog gives the town a more out-of-the-way feel, resulting in a close-knit community. For introverted retirees, this means local attractions like the Newport Bike Path, MAC Center for the Arts, and Tavern on the Hill can be enjoyed at a tranquil pace.
With a cost of living 13% lower than the Vermont average and 12% lower than the US average, this means more of your savings can go toward leisure at Newport’s breathtaking reservoir. At 27 miles long, Lake Memphremagog is a beloved swimming, sailing, and fishing destination in the warmer months. Memphremagog Trails, on the other hand, can be enjoyed year-round. In the winter, these walking trails transform to snowshoe paths, granting stunning views of the lake in every season.
Locals can also appreciate the waters aboard a Northern Star Lake Cruise, listed as the #1 Outdoor Activity in Newport by TripAdvisor in 2024. The cruise is considered an international experience since three-quarters of Lake Memphremagog is in Quebec, Canada. For retirees who love to travel, Newport is also just a few hours from Quebec’s top cities: Montreal and Quebec City.
Montpelier, Vermont
About an hour and a half south of Newport, Montpelier is a quintessential New England town beloved by seniors. As of the 2023 census, over 23% of its 7,991 locals are 65 and older, and it is easy to see why so many choose to retire here. With crime rates 7% lower than the national average, peace of mind is just one of the many reasons to call Montpelier home. In addition to homes being more affordable than the Vermont average, residents can enjoy the cost of living 6% lower than the national average and 7% lower than that of the rest of Vermont.
These affordable prices are even more remarkable when you consider Montepelier is the capital of Vermont. This means there is plenty to see and do here, from visiting the Vermont State House to touring the Vermont Historical Society Museum. Art and culture are also ingrained in the Montpelier lifestyle at places like the Lost Nation Theater and Artisans Hand Craft Gallery.
The town’s location in the Green Mountains along the Winooski River means outdoor recreation is equally popular. Green spaces like Hubbard Park take the spotlight, offering something to do in every season. With a scenic pond, countless picnic zones, and over 7 miles of hiking and skiing trails, this 200-acre park is the perfect daily escape.
Lewiston, Maine
Turning our attention to Maine, Lewiston stands out as one of the larger communities on this list, yet it still embraces that small-town atmosphere New England is famous for. Despite having just under 39,000 residents, the town remains close-knit by hosting a range of festivals and celebrations throughout the year. Of these, the Liberty Festival, Great Falls Balloon Festival, BrewFest, Holiday at the Plaza, and Riverfest are the most popular.
Lewiston’s location on the beautiful Androscoggin River (one of the longest rivers in Maine) means gorgeous scenes are always within reach. Whether strolling the Lewiston-Auburn Greenway Trails or taking a short drive to Androscoggin Riverlands State Park, this powerful waterway is one of Lewiston’s best features.
Affordability, however, is perhaps the very best part of calling Lewiston home. Living here will save you around 9% compared to the US average and 6% compared to elsewhere in Maine. Buying a home is even more affordable, averaging 27% less than the national average. Adding to the allure, Lewiston locals also have access to a great range of healthcare facilities, including the Central Maine Medical Center and St. Mary's Regional Medical Center.
Bangor, Maine
Located about two hours from Lewiston, Bangor is a hospitable town with an eclectic range of attractions. Nights on the town can be spent enjoying Vegas-style slots and live entertainment at the Hollywood Casino, while art enthusiasts may prefer visiting the Penobscot Theatre Company and Zillman Art Museum. Bangor’s other local museums are equally enticing, including the Cole Land Transportation Museum and Maine Discovery Museum.
For nature lovers and retirees looking to stay in shape, Bangor offers a fantastic variety of outdoor recreation areas. The town’s proximity to the Penobscot River makes strolls on the Penobscot River Walkway a great way to get your steps in. For a change of pace, the Orono Bog Boardwalk and Bangor City Forest are beautiful alternatives.
Given its diverse range of attractions and local healthcare facilities like St. Joseph Hospital and Northern Light Emergency Care, some assume that living in this casino town would come with a hefty price tag. In reality, Bangor residents pay 14% less than the national cost of living and 12% less than Maine’s. Houses here are also 29% less expensive than the average Maine home, leaving more of your savings for leisure.
Why Retire In These New England Towns?
Whether you are currently retired or nearing your golden years, deciding where to buy your final forever home can feel overwhelming, especially if you are on a budget. But if you are someone who loves the quintessential charms of New England, there are plenty of affordable towns to consider. Whether choosing the region for its down-to-earth locals, safe communities, rich history, or breathtaking landscapes, these nine cost-effective towns have it all. From Mystic’s historic seaport to Lewiston’s fabulous festivals, retiring in New England may be peaceful, but it is never dull.
