This article takes a look at the 16 best mountain towns for retirement. If you wish to skip our detailed analysis on retiree migration trends, you may go to 5 Best Mountain Towns for Retirement.

Retiree Migration Trends 2024: Unveiling Influences, Insights, and Affordable Mountain Escapes

Rumor has it that retirees will be the driving force behind migration trends this year. Taking into account data from 2023, HireaHelper, an online moving services company, has formulated this prediction. According to their report on migration trends, more than 338,000 Americans retired to a new home in 2023, a 44% jump from the previous year. The five states that have been drawing the largest percentage of these interstate moves have been Florida, South Carolina, New Jersey, Texas, and Washington. A considerable number of these individuals, often retirees, make relocation decisions influenced by factors such as the cost of living.

“You always have to remind people [to consider] the health care infrastructure in the area they’re moving. I’ve had clients ask, ‘What’s the cheapest state for taxes?’ And I’m like, yeah, but you’re three hours away from the hospital.”

-Michael Collins, founder and CEO of WinCap Financial in Winchester

Based on the above observation, it’s safe to say that living expenses are a big determinant of where retirees will end up in 2024. They are already the basis for retirees who are “un-retiring” now as well.  According to a survey by T. Rowe Price Group, Inc. (NASDAQ:TROW), approximately 20% of retirees are either working full-time or part-time, while 7% of surveyed respondents have been looking for a job.

“Many retirees either choose to work or need to have work be part of their retirement lifestyle. This decision can have many powerful positive effects, not least of which is financial well-being.”

– Judith Ward, CFP®, a thought leadership director with T. Rowe Price Group, Inc. (NASDAQ:TROW).

While financial benefits are a big motivator for many of these retirees, T. Rowe Price Group, Inc. (NASDAQ:TROW) reveals that mental stimulation, professional fulfillment, and social connections are also some strong motivators for retirees to go back to work. Regardless of the reason, working longer, and even after retirement, is a surefire way of strengthening your retirement plans and making sure you can realize the dreams you have for your golden period.

During these golden years, numerous retirees find solace nestled in the mountains, where they can revel in picturesque views and indulge in a plethora of recreational activities. However, not all mountain towns can serve as the best bargains for retirees. Take the example of Aspen in Colorado, a fantastic mountain town revered for its breathtaking scenery, vibrant cultural scene, and world-class skiing. The cost of living in this town is a whopping 120.4% higher than the national average. As per Redfin Corporation (NASDAQ:RDFN), the median price of a home in this town is a staggering $ 3 million. Considering these numbers, the average retiree may back down and give up on their dream of retiring somewhere in the mountains. Fortunately, not all mountain towns are this expensive. There are plenty of others that offer retirees the best blend of amenities and affordability.

Let’s explore some of the best mountain towns for retirement.

Methodology

To compile the list of best mountain towns for retirement, we consulted some of the best sources we could find such as Kiplinger, US News, Southern Living, 55 Places, and World Atlas, to name a few. We also consulted forums such as Reddit and Quora to see what retirees are saying regarding the best mountain towns in the US. After crafting an exhaustive list, we ranked the mountain towns on factors such as cost of living, median home price, median rent, and livability score to pick the top 16 best mountain towns. Median home prices have been sourced from Redfin Corporation (NASDAQ:RDFN), median rents are from Zillow, cost of living index is from Best Places, while livability scores have been taken from Area Vibes. redPlaces have been ranked in an ascending order from the lowest to the highest scores.

By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.

Here are the best mountain towns for retirement:

16. Asheville, North Carolina

Insider Monkey Score: 11    

Cost of Living Index: 105.8  

Median Home Price: $490,000        

Median Rent (1 bedroom): $1,600   

Livability Score: 72

Nestled in the Blue Ridge Mountains, Asheville is one of the best mountain towns to retire in North Carolina. Boasting a vibrant cultural scene, excellent healthcare facilities, award-winning restaurants, and craft breweries, retiring to this chunk of heaven feels like the right decision for many. The town’s myriad amenities and Southern charm not only make the slightly higher cost of living seem almost inconsequential but are further offset by its commendable livability score.

15. Ashland, Oregon

Insider Monkey Score: 20    

Cost of Living Index: 106.1  

Median Home Price: $485,000        

Median Rent (1 bedroom): $1,493   

Livability Score: 82

Ranking 15^th on our list of best mountain towns for retirement is Ashland, Oregon. Residents in the area describe it as “cute, safe, and vibrant”. It is situated in the foothills of the Siskiyou Mountains; serving as the perfect place for retirees to enjoy an outdoor lifestyle. Retirees have the opportunity to partake in lifelong learning through programs offered at Southern Oregon University, immerse themselves in the rich arts culture, and savor the diverse culinary offerings that the region has to offer.

14. Joseph, Oregon

Insider Monkey Score: 25    

Cost of Living Index: 96.4    

Median Home Price: $378,000        

Median Rent (1 bedroom): $1,364   

Livability Score: 66

Retirees who wish to savor incredible mountain views, pristine alpine lakes, and some amazing wildlife adventures along the way can choose to retire in Joseph, Oregon. Nested in the heart of the Wallowa Mountain Range, this mountain town can be regarded as the cultural and tourism center of Northeastern Oregon. Such is the beauty of this town and its natural surroundings that it has been nicknamed the “Little Switzerland of America”.

13. Hendersonville, North Carolina

Insider Monkey Score: 27    

Cost of Living Index: 102.4  

Median Home Price: $484,000        

Median Rent (1 bedroom): $1,276   

Livability Score: 82

South of Asheville lies Hendersonville, a town renowned for its Southern hospitality, scenic views, and vibrant culinary scene. Hendersonville is an affordable town set in proximity to the Blue Ridge Mountains. It’s part of the broader mountainous region and is one of the best mountain towns in North Carolina.

12. Dahlonega, Georgia

Insider Monkey Score: 28

Cost of Living Index: 89.3    

Median Home Price: $331,000        

Median Rent (1 bedroom): $1,400   

Livability Score: 63

Revered for being one of the best small towns in the US, Dahlonega is primarily loved for its wine and picturesque location. It is beautifully tucked away in the foothills of the Appalachian Mountains, in the north-central part of the state. Retirees will love it here for its signature golf course, award-winning wineries, and outstanding arts and architecture. According to Redfin Corporation (NASDAQ:RDFN), the median home price is $331,000. With a cost of living that is 10.7% lower than the national average, Dahlonega also stands to be one of the most affordable mountain towns for retirement.

11. Buffalo, Wyoming

Insider Monkey Score: 28

Cost of Living Index: 101.6  

Median Home Price:  $451,000        

Median Rent (1 bedroom): $825      

Livability Score: 64

Lying on the foothills of the Bighorn Mountains, Buffalo is a small yet charming mountain town that is a favorite amongst retirees. Residents get to enjoy the nearby mountainous environment with opportunities for outdoor activities such as hiking, camping, and wildlife viewing. The mountain town is known for its Western charm, historic sites, and proximity to natural attractions.

10. Ellijay, Georgia

Insider Monkey Score: 29    

Cost of Living Index: 95.1    

Median Home Price: $490,000        

Median Rent (1 bedroom): $1,075   

Livability Score: 72

Another one of the best mountain towns for retirement is Ellijay, Georgia. Tucked in the Appalachian Mountains, Ellijay enjoys being embraced by picturesque landscapes, including mountains, forests, and rivers. Retirees love it for the myriad of outdoor recreational opportunities it offers, such as hiking, and fishing, as well as appreciate the natural beauty of the region.

9. Boone, North Carolina

Insider Monkey Score: 32    

Cost of Living Index: 100.8  

Median Home Price:  $468,000        

Median Rent (1 bedroom): $1,330   

Livability Score: 83

Home to stunning mountain scenery, Boone is another one of our picks from the Appalachian Mountains. This popular North Carolina town is located in the Blue Ridge Mountains to be precise, a specific subrange within the larger Appalachian Mountains. Retirees who wish to lead an active outdoor lifestyle can satisfy all of their wishes here as the mountain town is packed with outdoor activities.

8. Taos, New Mexico

Insider Monkey Score: 36    

Cost of Living Index: 96       

Median Home Price:  $482,000        

Median Rent (1 bedroom): $1,600   

Livability Score: 65

A charming small town known for its stunning natural beauty and unique culture, Taos is one of the cheapest places to live in the mountains. It is located in the Sangre de Cristo Mountains, which are part of the Rocky Mountains. The town is situated at an elevation of about 7,000 feet (2,134 meters) above sea level and is surrounded by scenic mountainous terrain, offering the perfect scenic backdrop for retirees to call home.

7. Lake Placid, New York

Insider Monkey Score: 38    

Cost of Living Index: 84.5    

Median Home Price:  $489,000        

Median Rent (1 bedroom): $1,100   

Livability Score: 68

Nestled in the Adirondack Mountains, part of the larger Appalachian mountain range, Lake Placid in New York is another one of the best mountain towns for retirement. Retirees get to enjoy some of the most amazing views here, enjoy hiking at places like Mount Jo and Mirror Lake, and simply relish the outdoorsy active lifestyle.

6. Helena, Montana

Insider Monkey Score: 40    

Cost of Living Index: 100.2  

Median Home Price: $394,000        

Median Rent (1 bedroom): $950      

Livability Score: 80

Also known as the gateway to the Rockies, Helena is often considered a mountain town due to its location near the western edge of the Rocky Mountains, offering a serene backdrop of mountainous terrain. Retirees love it for its continental climate, scenic views, and small-town feel.