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Best Retirement Towns with a Below Average Cost of Living

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Arkadelphia, Arkansas

Amiable Arkadelphia (population 10,300), situated along the Ouachita River about 30 miles from the Ouachita Mountains in southwestern Arkansas, is a peaceful, rural spot with a friendly, Southern country ambiance that feels a thousand miles away from modern city life. It is one of the oldest hamlets in Arkansas, and the name comes from the first part of the state name, Ark, and from the Greek name for "place." And a nice place it seems to be. Unassuming and affordable, Arkadelphia is the kind of town where "good deed doers" are sought out and publicly recognized on the city's website. The cost of living is nearly 20% below the national average, and the median home price is just $110,000 (and many homes date from the 19th century). 

Albuquerque, New Mexico

Albuquerque, New Mexico (population 850,000 in metro area), at the foot of the Sandia Mountains, is a fast growing city with a laid-back, slightly bohemian character and a very diverse mix of cultures, including Hispanic, Anglo and Indian.   The city was founded as a Spanish military outpost in 1706 and was designed with a central plaza surrounded by government buildings (today the section is called "Old Town").  Famed Route 66 runs through the city, and roadside structures from the highway's heyday still remain.  In the 1960s and 1970s, Albuquerque suffered through a period of decline, but today the downtown is revitalized and becoming an urban hot spot, attracting artists and others who can no longer afford pricey Santa Fe. 

Tyler, Texas

Tyler (population 100,000) is located on the eastern edge of Texas, 90 minutes from Dallas, and is a very pretty city that gardeners in particular may want to consider.  Nicknamed the "Rose Capital of America," the city boasts the largest municipal rose garden in the U.S. (40,000 bushes and 500 varieties) and hosts the renowned Texas Rose Festival every fall. Each spring, the Tyler Azalea Trail, two scenic routes that wind through established neighborhoods and past spectacular gardens, draws thousands of visitors. It seems that nearly anything can grow here, and the abundance of roses, crepe myrtles, azaleas and dogwood trees only adds to the city's appeal. The city is racially diverse and very conservative with a cost of living roughly 10% below the national average. The median home price is $135,000.

Elkhorn, Wisconsin

Located less than an hour away from Milwaukee and just over an hour’s drive from Chicago, Elkhorn, Wisconsin (population 9,000) feels like the very heart of America’s heartland. A wholesome, conservative, family-oriented small town, rural Elkhorn is nestled in gentle hills and surrounded by fertile farmland and pretty lakes.


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