Each day, about 10,000 baby boomers reach age 65, and they’re increasingly shifting into retirement mode, according to the Pew Research Center. Many have expressed a desire to move to beachfront properties.
But they may want to avoid pricey coastal retirement havens in favor of more affordable beach towns.
“Retirees are undoubtedly drawn to these areas by the active, beach lifestyle,” says Danielle Hale, realtor.com®’s chief economist. “And the relative affordability of homes in these towns means more of a fixed income is left over for fun, which probably makes the case for sticking around.”
Realtor.com® researchers recently identified the most affordable beach towns for retirees by evaluating 1,300 oceanfront areas in the U.S. Their rankings are based on towns with higher populations of residents aged 55 and over; housing affordability based on median list price; access to hospitals and health care facilities; and the number of amenities and places for a social life, such as golf courses and country clubs.
Here are the seven beach towns that topped realtor.com®’s list:
1. Murrells Inlet, S.C.
Median list price: $329,950
2. Venice, Fla.
Median list price: $299,950
3. Morehead City, N.C.
Median list price: $339,050
4. Lewes, Del.
Median list price: $399,050
5. Toms River, N.J.
Median list price: $279,950
6. Coos Bay, Ore.
Median list price: $279,050
7. Seal Beach, Calif.
Median list price: $279,050
View realtor.com®’s full list.
Source: “Gone Fishing: The Top 10 U.S. Affordable Beach Towns for Retirement and Relaxation,” realtor.com® (June 29, 2020)
