6 Waterfront Destinations for Retirees That Won’t Break the Bank

You don’t have to drain your savings to retire near the water with a beautiful view. These six waterfront cities in the U.S. are known for their natural scenery, low to moderate living costs, accessible healthcare and active communities, which make them solid spots for retirees to settle down.

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1. Ann Arbor, Michigan 2. Orlando, Florida 3. Sarasota, Florida 4. Toledo, Ohio 5. Virginia Beach, Virginia 6. Minneapolis-St. Paul, Minnesota What Makes a Great Waterfront Retirement Spot?

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1. Ann Arbor, Michigan

Median home price: $526,671
Average rent (one-bedroom): $1,695

Ann Arbor is located along the Huron River and blends urban sophistication with serene nature. Though this place’s cost of living is a bit above the national average, it’s balanced by a high quality of life and excellent healthcare.

The city is also home to the University of Michigan Health System, one of the top hospitals in the country. Retirees can enjoy scenic parks, riverfront trails and vibrant cultural events like the Ann Arbor Art Fair. Public transportation via TheRide also makes it pretty easy to get around.

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2. Orlando, Florida

Median home price: $383,548
Average rent (one-bedroom): $1,499

Orlando isn’t just known for its theme parks. It’s also retiree-friendly. Lakes dot the city, which gives you a waterfront feel without having to pay the high price tag of oceanfront property. Orlando’s cost of living is roughly 4% below the national average, and you won’t have to pay state income tax since you’re in Florida.

Orlando also has some top-notch medical facilities, such as AdventHealth Orlando and Orlando Health. So if you need medical attention during your retirement years, you’re in good hands. Though Orlando isn’t the most pedestrian-friendly, it has the Lynx bus system and the SunRail that could get you around the city.

3. Sarasota, Florida

Median home price: $433,790
Average rent (one-bedroom): $1,804

Sarasota, Florida, is a Gulf Coast gem that offers retirees white-sand beaches, walkable neighborhoods and a diverse art scene. Though the cost of living is above average, living here will give you easy access to exceptional healthcare, a laid-back lifestyle and world-class beaches.

The city is home to Sarasota Memorial Hospital, one of Florida’s top-rated health facilities. There’s also a trolley system called The Bay Runner that connects the best of Sarasota Keys and Downtown.

4. Toledo, Ohio

Median home price: $124,989
Average rent (one-bedroom): $700

Toledo may not be the first place you think of when it comes to waterfront living, but this city on Lake Erie offers a peaceful, budget-friendly retirement option. With a cost of living of around 4% below the national average, it’s one of the most affordable waterfront towns on this list.

The city features a growing arts and food scene, waterfront parks and low housing costs. ProMedica Toledo Hospital and Mercy Health provide strong local healthcare options. TARTA, the local transit authority, offers discounted fares for seniors.

5. Virginia Beach, Virginia

Median home price: $415,868
Average rent (one-bedroom): $1,540

Virginia Beach combines resort-town appeal with a family friendly vibe. You’ll find over 35 miles of coastline, nature trails, boardwalks and a wide range of housing options. Though the cost of living is slightly higher than the national average, many retirees find it worth the premium.

Healthcare is pretty solid here. Plus, the city also offers HRT (Hampton Roads Transit), which features lower fares for older adults.

6. Minneapolis-St. Paul, Minnesota

Median home price: $331,321
Average rent (one-bedroom): $1,169

People don’t usually think of the Twin Cities when they imagine retirement spots, but they actually have pretty amazing lakeside living, cultural attractions and some of the best healthcare in the Midwest. There are over 20 lakes scattered throughout Minneapolis and St. Paul, so you can enjoy scenic views without the high cost that typically comes with coastal towns.

You can find many big hospitals here as well, like the Mayo Clinic and Allina Health. And if you don’t drive, you can take the Metro Transit system to get around.

What Makes a Great Waterfront Retirement Spot?

If you’re planning to retire in a waterfront destination, make sure to think beyond just the scenery. First, check that there’s solid healthcare nearby. That means easy access to doctors, clinics and hospitals without having to drive hours to get there.

Affordability is important, too. A gorgeous town won’t be that appealing anymore if you’re constantly worried about how you’re going to pay your rent/mortgage.

You’ll also want to think about how you’ll get around, especially if you don’t plan on driving during retirement. Make sure the city you’re moving to has convenient public transit or neighborhoods that are easy to walk in.

Editor’s note: Home and rent prices were sourced from Zillow on May 30, 2025, and are subject to change.

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