14 Beautiful (And Affordable) Waterfront Towns Retirees Should Flock To

Many of us would love to retire early and enjoy adventures on the water or lounging on the beach watching sunsets. But living on the water isn't always cheap.

The good news is there are still affordable waterfront locations to enjoy your golden years in relaxation. Here are a few options you might want to consider. All median sale price figures come from Redfin.

1. Pensacola, Florida

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Florida can be hit or miss when it comes to affordability. That is especially true when you are looking for something on the coast.

Pensacola is one affordable option. The median sale price for a home in Pensacola is $332,500, compared to $409,400 for the state of Florida during the same period.

The extra savings mean you can spend time enjoying the Gulf Coast beaches as you continue to build wealth .

2. Ocean Springs, Mississippi

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Ocean Springs, Mississippi, is another Gulf Coast town you may want to check out. The median home price here is $260,000.

The town has plenty to offer. There are restaurants and shops to explore, or you can rent a golf cart to explore the roads and beaches on sunny days.

3. Wilmington, Delaware

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It may not be as warm as some other cities, but Wilmington can get you close to the Delaware River while also offering an affordable place to live. Enjoy museums, gardens, and music venues, or check out the city’s historic sites.

Houses sell for a median of $260,000.

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4. Augusta, Georgia

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Augusta is well-known for hosting the annual Masters Tournament at Augusta National Golf Course. However, you don’t have to be a golfer to enjoy the city.

The city sits on the Savannah River, giving residents the chance to get out on the water or take in a riverwalk on the banks. You can also check out other nearby waterways and lakes.

The median home in Augusta sells for $200,000.

5. Duluth, Minnesota

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Duluth isn’t the place if you want to sit on a warm, sandy beach throughout the year. However, it has some great options for retirees who want to be on the water.

You can spend summers boating on Lake Superior or take some time during the winter to go ice fishing on the many lakes in northern Minnesota. The median home price is a bit on the higher side, at $304,000.

6. Lake Ozark, Missouri

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Lake Ozark is part of the Lake of the Ozarks region in mid-Missouri, which was created by impounding the Osage River almost a century ago.

The area can be an affordable option for retirees to boost their bank account , and it also offers plenty of water activities. The median sale price for a home in the city is $357,000.

7. Galveston, Texas

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You may not think of Texas as being beachy, but the state’s access to the Gulf of Mexico can be a great option to consider if you don’t want to live on the East Coast or West Coast.

There are plenty of outdoor activities available on the water. You can also sit and enjoy a day on the beach. The median home price is $400,000.

8. Hampton, Virginia

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In Hampton, you can walk along the banks of the Hampton River or get on the water and enjoy sailing and fishing.

It’s also a more affordable choice if you want to buy a home than other cities in the area. The median sale price for a home is $284,625, which is around $100,000 less than in nearby Virginia Beach.

9. New London, Connecticut

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Not all places along the water in New England are expensive. Connecticut, for example, has some affordable options, including New London.

The historic town offers sailing, fishing, and other water sports. Foxwoods Resort Casino is only about a half-hour's drive away. The median home price in New London is $281,000.

10. Eureka, California

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You don’t have to give up your California dreams simply because cities such as Los Angeles and San Francisco are too expensive.

Check out Eureka in northern California. It offers plenty of access to nature and water. Enjoy the beach and easy access to Redwood National and State Parks.

The median home price is $425,000, which is actually low by Golden State standards.

11. Mobile, Alabama

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If you're looking for an affordable option along the Gulf Coast that isn’t in Florida, check out Alabama.

Mobile has plenty of history to explore, including the USS Alabama, which now serves as a museum in Mobile Bay. The median sale price in Mobile is just $208,000.

12. Traverse City, Michigan

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Take in the beauty of northern Michigan when you retire in Traverse City, which was named one of the top 10 best small towns in the Midwest by USA Today.

The median sale price for a home in the city on Lake Michigan is $375,000.

13. Kennewick, Washington

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It may not be on the coast, but Kennewick still has plenty to offer residents who decide to move to the city to enjoy the Columbia and Snake rivers.

In addition to water activities along the river banks, the city also has a median sale price of $405,000. If that sounds expensive, note that it is more than $200,000 lower than the median sale price for the entire state of Washington.

14. Coos Bay, Oregon

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Another West Coast city to check out is Coos Bay on the Oregon coast. Here, you will find a smaller town and access to the wilderness of the state.

Coos Bay’s median sale price for a home is $359,000. This could be a great place to buy and get ahead financially .

Bottom line

Financing a retirement can be daunting, but you can find affordable places to live on the water that will allow you to enjoy a stress-free retirement .

Put together an estimated budget now so you will know how much it costs to retire in various places. Then, choose some good, affordable cities that are on the water and visit them to find the one that will be your forever home.

Money tips that can work for everyone

No matter what your bank account balance is, there's always an opportunity to optimize and improve your finances. Here's a quick checklist of things you can look at today.

Focus on paying off your debt . Debt can hold you back from making progress with your overall financial well-being. Aside from cutting expenses, there are tools that can help you pay off debt faster like balance transfer credit cards and debt counseling.

Earning extra income can give you breathing room. If finances are tight, earning some extra money to supplement your income can make a huge difference. A new job is one option to consider, but if you're not ready to make a big change or already retired, a part-time side job could be a better choice.

Cut your expenses. It sounds painful and so not fun, but it doesn't have to be. Take a look at your biggest expenses because that's where you'll probably find the biggest savings. For example, auto insurance rates have been soaring so shopping around for a new insurance company can be the fastest way to cut your bill. Also, look for ways to cut your grocery bill (despite rising inflation).