Vermont: Best Affordable Places to Live
Best Affordable Places to Live in Vermont in 2025

By Pam O’Brien
(Last Updated – 03/2025)
If you’re looking to move to a place with a relaxed lifestyle and a deep sense of community that has lush forests, abundant mountains, and rolling farmlands, you may want to put Vermont at the top of your list.
With a population of less than 650,000 (the second lowest in the U.S. after Wyoming) spread out over its 9,600 square miles, the Green Mountain State offers families, young adults, and retirees a feeling of wide open space. There are no big cities here. Burlington, the largest city in Vermont, has less than 45,000 people. And while the state is not exactly inexpensive, it is more affordable than some other nearby states and there are some housing bargains to be found.
The glorious great outdoors is the focus in Vermont, and residents tend to spend their time hiking, biking, skiing, and snowshoeing, among other things. Lake Champlain borders the northwestern part of the state, and it’s a draw for those who enjoy swimming, kayaking, and fishing in the summer. Winters are snowy, cold, and long (the first frost typically happens in September), so a love of winter sports and cozying up by the fire certainly comes in handy.
Best Places to Live in Vermont
Living in Vermont gives residents the opportunity to enjoy such diverse experiences as skiing in the Green Mountains, relaxing on the beaches of Lake Champlain, perusing flea markets in one of the many charming small towns, and taking part in the state’s dynamic food and craft beer scene.
But there are costs to be aware of. The cost of living in Vermont is above the national average, although it’s less than some neighboring states. However, prospective residents should know that Vermont has some of the highest property tax rates in the country, which should be factored in when budgeting.
Those who are considering moving to Vermont may want to explore the cost of living by state for other locations in New England, to see where they can get the most for their money. For those who decide Vermont is the best option for them, this guide pinpoints some of the best areas in the state to consider.
💡 Quick Tip: When house hunting, don’t forget to lock in your home mortgage loan rate so there are no surprises if your offer is accepted.
Best Affordable Places to Live in Vermont
These three towns in Vermont offer affordability along with picturesque scenery, plenty of activities for year-round fun, and a friendly vibe. Find out more about the most affordable places to live in Vermont.
1. Northfield
Photo credit: iStock/ErikaMitchell
Nestled in a valley in the Green Mountains, the charming town of Northfield has plenty to offer residents, including stores, restaurants, cafes, and art galleries. Those who enjoy outdoor adventures can spend their free time hiking, biking, and fishing at the Northfield Town Forest in the spring, summer, and fall, and skiing, snowshoeing, and snowmobiling in the winter. Plus, there are job opportunities at Norwich University, the town’s largest employer.
Population: 5,935
Median Household Income: $63,909
Cost of Living: 98.9% of U.S. average
Average Rent Price: $900
Home Price-to-Income Ratio: 4.64
Recommended: Mortgage Preapproval Process
2. Waterbury
Photo credit: iStock/Wirestock
Quaint and picturesque, Waterbury, which is just 10 miles from the ski resort town of Stowe, has spectacular views of mountain peaks and rolling hills. It’s a vibrant town, filled with shops, breweries, and restaurants for farm-to-table dining. On weekends, you can browse at the Waterbury Flea Market, Vermont’s largest outdoor flea market. Ice cream lovers will appreciate the Ben & Jerry’s factory here, where they can learn how ice cream is made. And, of course, there is plenty of hiking, fishing, skiing, and snowshoeing in the nearby state parks.
Population: 5,458
Median Household Income: $109,022
Cost of Living: 98.9% of U.S. average
Average Rent Price: $1,500
Home Price-to-Income Ratio: 2.34
3. Montpelier
Photo credit: iStock/halbergman
The capital city of Vermont, Montpelier has the distinction of being the smallest state capital in the U.S. Located in the Green Mountains at a spot where three rivers converge, the city is a draw for nature lovers. There’s skiing and ice skating in the winter, and kayaking and canoeing in the spring and summer. You can also hike in one of the many parks or go mountain biking on the area’s extensive trail network. The town itself is as active as its residents. There are community events and festivals on weekends, along with a multitude of restaurants, cafes, breweries, and boutique shops to enjoy. If you’re thinking of moving here, check out first-time homebuyer programs in Vermont, which include state and federal assistance programs.
Population: 7,991
Median Household Income: $79,175
Cost of Living: 103% of U.S. average
Average Rent Price: $2,100
Home Price-to-Income Ratio: 4.99
Best Places to Live in Vermont for Families
Families will find a lot to like about Vermont. The state boasts a strong sense of community, wide open places for kids to play, and numerous events to keep the whole family entertained. Here are some of the best places to live in Vermont for families.
1. Williston
Photo credit: iStock/halbergman
Located just a half hour from Burlington, Williston is a bustling town where there is always something to do. Recreation programs for the kids, including soccer and track and field, are offered year round, and the Catamount Family Center has hiking in the summer and cross country skiing in the winter for your entire clan. There are numerous shops and restaurants here, along with community events such as parades, a town barbecue, and summer movie nights. Parents are drawn to the area’s good schools. If you are as well, tips to qualify for a mortgage may be useful as you begin your search for a home.
Population: 10,092
Median Household Income: $105,490
Cost of Living: 108% of U.S. average
Average Rent Price: $2,450
Home Price-to-Income Ratio: 5.39
Recommended: Mortgage Prequalification vs Preapproval
2. Essex Junction
Photo credit: Flickr/Dougtone , Creative Commons Attribution-ShareAlike 2.0 Generic
With small town charm and plenty of community spirit, this thriving area near Burlington is known for being family friendly. There are concerts and events for family entertainment plus a community pool, hiking, biking, pickleball, and skiing. The downtown is filled with shops, restaurants, and local businesses. Parents like the area’s top-rated schools, and the fact that so many families live here means there are many opportunities for play dates. Essex Junction also has public transportation via the Green Mountain Transit system. However, you may pay for these amenities: The everyday cost of living may be higher than in some other Vermont towns.
Population: 10,817
Median Household Income: $94,423
Cost of Living: 124% of U.S. average
Average Rent Price: $1,995
Home Price-to-Income Ratio: 5.25
3. South Burlington
Perched on the shores of Lake Champlain, South Burlington offers beautiful vistas, more than 400 acres of parks, and 26 miles of trails for walking, hiking, and biking. The area’s excellent public schools are a draw for parents, as are the many employers in town, including start-ups and small businesses. South Burlington has plenty to keep the entire family entertained, with numerous restaurants and stores and University Mall, the largest mall in Vermont.
Population: 21,043
Median Household Income: $97,229
Cost of Living: 117% of U.S. average
Average Rent Price: $2,400
Home Price-to-Income Ratio: 4.80
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Best Places to Live in Vermont for Young Adults
Vermont has a number of cities suitable for young professionals with job prospects, entertainment options, and reasonable affordability. These are the best places to live in Vermont for young adults.
1. Montpelier
Photo credit: iStock/halbergman
Vermont’s capital city is a dynamic place, and it’s no wonder many young adults tend to settle here. Along with glorious mountain scenery and outdoor activities like kayaking, swimming, and hiking, there are restaurants, cafes, and breweries for entertainment. The resort town of Stowe is just a 30-minute drive away for world-class skiing in the winter, and for those who crave the occasional big-city adventure, Montreal is two hours by car. Job opportunities in Montpelier include working for the state government or one of the area’s many businesses, including Central Vermont Medical Center and Cabot Creamery.
Want to get up to speed before house-hunting? A home loan help center could be useful as you determine your best options for financing.
Population: 7,991
Median Household Income: $79,175
Cost of Living: 103% of U.S. average
Average Rent Price: $2,100
Home Price-to-Income Ratio: 4.99
Recommended: Should You Buy or Rent a Home?
2. Colchester
Photo credit: Flickr/djwtwo , Creative Commons Attribution-NonCommercial-ShareAlike 2.0 Generic
Filled with hiking trails and parks, Colchester is a great option for young professionals who are outdoor enthusiasts. There are many hikers, bikers, and runners here, and chances are, you’ll meet some fellow athletes as you log your miles. According to residents, this is a friendly place where people love to stop and talk. Employers in the area include Vermont Public Radio, Green Mountain Power, and several tech firms. There are plenty of restaurants, art galleries, shops, and even a drive-in movie theater to keep you entertained when you’re not working or exploring nature.
Population: 17,588
Median Household Income: $97,708
Cost of Living: 115% of U.S. average
Median Rent Price: $2,350
Home Price-to-Income Ratio: 4.82
3. South Burlington
Young adults can enjoy a fun and active lifestyle in this vibrant town on the banks of Lake Champlain. South Burlington has numerous stores and a mall, plus restaurants, bars, and breweries for socializing. Nature lovers will enjoy hiking, biking, and kayaking on the lake. And there are work opportunities in a variety of businesses in the area.
Population: 21,043
Median Household Income: $97,229
Cost of Living: 117% of U.S. average
Average Rent Price: $2,400
Home Price-to-Income Ratio: 4.80
Best Places to Live in Vermont for Retirees
With its beautiful scenery, community spirit, and relaxing lifestyle, Vermont may appeal to many seniors. As long as retirees can tolerate the long, cold winters, the state can offer distinct advantages, including a good health care system and an above-average quality of life. These are some of the best places to live in Vermont for retirees.
1. Randolph
Photo credit: Flickr/Dougtone , Creative Commons Attribution-ShareAlike 2.0 Generic
Not only is it the most affordable town on our list, Randolph is also a desirable location for those ready to retire. There’s history and culture here, including the Chandler Center for the Arts for performances, exhibits, and educational programs that seniors can enjoy. The town has many restaurants and farmers markets, and there are art galleries for browsing. Other perks: The Randolph Senior Center offers a variety of workshops and programs, there are a number of senior living communities in the area, and Central Vermont Medical Center is less than a half hour away.
Population: 2,010
Median Household Income: $58,333
Cost of Living: 105% of U.S. average
Average Rent Price: $600
Home Price-to-Income Ratio: 5.46
2. Vergennes
Photo credit: iStock/DutcherAerials
Vermont’s first city, Vergennes, which is only two square miles in size, also calls itself America’s smallest city. But while its acreage may be tiny, its offerings for retirees are expansive. For arts and culture buffs, the town has a historic opera house that hosts musical and theatrical performances, and a beautiful library with a stained glass domed ceiling. Summer concerts and festivals fill the lovely park in the center of downtown. There are restaurants to grab a bite with friends, and eclectic shops to explore. Plenty of outdoor adventures also await, including canoeing and kayaking on the creek that runs through town, as well as hiking and biking.
Population: 2,561
Median Household Income: $72,171
Cost of Living: 110% of U.S. average
Average Rent Price: $1,850
Home Price-to-Income Ratio: 5.03
3. Bristol
Photo credit: iStock/morgainbailey
This dynamic little town offers breathtaking views from its location at the foot of the Green Mountains. There is a sizable senior population here who enjoy the fact that Bristol is pedestrian-friendly, with shops, bookstores, and arts and crafts boutiques for browsing, as well as restaurants and coffee places for meeting up with your peers. The sense of community runs deep — there’s a summer music festival and street fair and weekly band concerts on the town green. The city of Burlington is just 30 miles away for more arts and culture and access to the University of Vermont Medical Center.
Population: 1,956
Median Household Income: $65,536
Cost of Living: 113% of U.S. average
Average Rent Price: $2,200
Home Price-to-Income Ratio: 6.2
Best Places to Live in Vermont Near the Water
Vermont has more than 800 lakes, more than 7,000 miles of rivers, and many ponds and streams. Those hoping to live on the water here have plenty of choices throughout the state.
These are some of the best places to live in Vermont near the water.
1. Montpelier
Photo credit: iStock/halbergman
Vermont’s capital city sits where three rivers come together, making it a good place for those looking for waterfront property. Even if you don’t purchase a house right on the water, you’ll still have easy access to it for fishing, kayaking, and canoeing. After a day of watersports, you can head into town to visit one of the many restaurants, cafes, or breweries, or enjoy one of the festivals or parades.
Population: 7,991
Median Household Income: $79,175
Cost of Living: 103% of U.S. average
Average Rent Price: $2,100
Home Price-to-Income Ratio: 4.99
2. Colchester
Photo credit: Flickr/djwtwo , Creative Commons Attribution-NonCommercial-ShareAlike 2.0 Generic
This lovely town is a nature lover’s paradise. It’s surrounded by water on three sides — the Winooski River, the Lamoille River, and Lake Champlain — and you can enjoy boating, fishing, swimming, or relaxing on the beach. There are also parks with trails for hiking, biking, and running. In the evenings, have dinner at one of the town’s many restaurants, or catch a movie at the drive-in, which is one of the largest in Vermont.
Population: 17,588
Median Household Income: $97,708
Cost of Living: 115% of U.S. average
Average Rent Price: $2,350
Home Price-to-Income Ratio: 4.82
3. South Burlington
If you’re searching for a location near Lake Champlain that won’t cost a fortune, South Burlington may have what you’re looking for. A dynamic town that offers plenty of entertainment options, including restaurants, bars, breweries, and a mall, its lakeside location means you can swim, fish, or boat all summer and into the fall. There are also trails for lakeside runs or walks, and you can enjoy the scenic water views and calming vibes year-round.
Population: 21,043
Median Household Income: $97,229
Cost of Living: 117% of U.S. average
Average Rent Price: $2,400
Home Price-to-Income Ratio: 4.80
The Takeaway
Vermont is not an inexpensive place to live, but it is less costly than other places in New England. And it has much to offer, especially for those who are active and love the outdoors. From charming small towns in the mountains to vibrant communities near Lake Champlain, there are affordable options to be found in the Green Mountain State for families, young adults, and retirees.
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FAQ
Is Vermont a good place to live?
It depends what you’re looking for, but Vermont can be a good place to live. The state has a lot to offer, especially for those who love the outdoors and can take advantage of its mountains, lakes, and rivers.
What is the most affordable place to live in Vermont?
The most affordable places in Vermont include small towns in the Green Mountains like Randolph, Northfield, and Waterbury.
What is the best area of Vermont to live in?
The best area of Vermont to live in depends on what you’re looking for. Those who want to live near the water may be drawn to towns near Lake Champlain. Those who enjoy skiing may want to be closer to a resort town such as Killington or Stowe.
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Best Affordable Places to Live in New Hampshire in 2025
Best Affordable Places to Live in New Hampshire in 2025

(Last Updated – 03/2025)
Nestled in the heart of New England, New Hampshire offers a captivating blend of natural beauty and modern opportunities. The state’s job market excels in technology, health care, and education, bolstered by its proximity to major cities like Boston.
However, New Hampshire’s cost of living (COL) is a notable consideration: It clocks in at fully 12% higher than the national average. Driving the higher cost of living are factors like utilities, groceries, health, and transportation costs.
Despite its reputation as a low-tax state (owing to its absence of sales tax and income tax on wages and salaries), New Hampshire still demands careful consideration before making a move. With the fourth-highest property tax rates in the U.S. and boasting an average effective rate of 1.77%, prospective residents must plan well to ensure the state is the right fit for their financial situation and goals.
If it is, a wonderful home state can await. Whether drawn by the allure of outdoor adventures or the promise of professional growth, New Hampshire can provide a dynamic blend that draws a diverse population.
Best Places to Live in New Hampshire
Home to Dartmouth College and the beautiful New England outdoors, New Hampshire also boasts numerous towns and cities with appeal for families, young professionals, nature-lovers, and more. The state also has a higher median household income and lower poverty rate than the national average, indicating that economic opportunities are available for residents. For more details, here are several lists of the places to live in New Hampshire based on such variables as affordability and age.
New Hampshire’s cost of living can be a key focus for many potential residents, so first consider the most affordable places to live in the state.
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Best Affordable Places to Live in New Hampshire
Is cost of living (COL) a concern? If so, here are the top three cities in New Hampshire ranked for affordability:
1. Berlin

Photo credit: Wikimedia Commons/AlexiusHoratius , Creative Commons Attribution-ShareAlike 3.0 Unported
If you want small-town life with a state forest in your backyard while maintaining a modest budget, Berlin can accommodate your needs perfectly. It’s also popular for retirees. Berlin’s rental costs are relatively affordable, and the town’s affordability combined with outdoor recreation (fishing the Androscoggin River, camping and hiking in Jericho Mountain State Park) make it an attractive option for those who want to enjoy nature and pay lower prices for housing. Housing is more affordable here, a fact that can be especially important to first-time homebuyers.
Population: 9,459
Median Household Income: $43,972
Cost of Living: 94% of U.S. average
Average Rent Price: $1,075
Home Price-to-Income Ratio: 4.2
2. Claremont

Photo credit: iStock/DenisTangneyJr
Avid outdoors fans will also love Claremont, where the Sugar River, Cornish Town Forest, and Green Mountain Trail are within easy reach. In addition, the Claremont Opera House is a venue for all forms of art, enhancing the area’s cultural and entertainment offerings. Claremont combines suburban flair with country surroundings at a low price point, which can be attractive, especially when combined with first-time homebuyer programs in New Hampshire.
Population: 13,111
Median Household Income: $54,520
Cost of Living: 96% of U.S. average
Average Rent Price: $1,600
Home Price-to-Income Ratio: 4.7
While property taxes are more than twice the national average, the absence of state income and sales taxes offsets this expense. As a result, Claremont combines suburban flair with country surroundings at a low price point, which can be attractive, especially when combined with first-time homebuyer programs in New Hampshire.
3. Rochester

Photo credit: iStock/DenisTangneyJr
One of New Hampshire’s most populated cities, Rochester features a fine art museum, opera house, and nature trails. Its more urban setting means higher prices than the towns above, but the average median income helps to accommodate the costs. Those looking for an urban feel in New Hampshire can find their place here without the massively inflated prices of bigger cities. Here are the metrics for this bustling region:
Population: 33,519
Median Household Income: $79,388
Cost of Living: 108% of U.S. average
Average Rent Price: $1,800
Home Price-to-Income Ratio: 4.7
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Best Places to Live in New Hampshire for Families
Families across America have similar priorities, such as good schools, safety, health care, and kid-friendly amenities. Fortunately, New Hampshire has several optimal locations for families to live:
1. Bedford

Photo credit: Wikimedia Commons/John Phelan, Creative Commons Attribution-ShareAlike 4.0 International
Bedford’s population is about 91% family households, and people under age 20 make up 27% of the population. Parents are likely drawn here in part because the town is known for a top-notch K-12 public school system with an average of 13 students per teacher in the district. Here are additional data points to note about Bedford:
Population: 23,764
Median Household Income: $160,253
Cost of Living: 117% of U.S. average
Average Rent Price: $2,095
Home Price-to-Income Ratio: 4.4
2. Dover

Photo credit: iStock/jmoor17
Dover is another of the best places to live in New Hampshire for families. Home to the Children’s Museum of New Hampshire and the Hilltop Fun Center, the city provides excitement and activities throughout the year. It’s located on the Atlantic coast, meaning it offers quick access to the beach, and it’s more populous than most of New Hampshire’s cities. Here are some essential numbers to know about Dover:
Population: 33,485
Median Household Income: $92,748
Cost of Living: 114% of U.S. average
Average Rent Price: $2,100
Home Price-to-Income Ratio: 5.4
3. Somersworth

Photo credit: iStock/DenisTangneyJr
Somersworth is a suburb sitting on the Maine border. It offers numerous parks, a golf course, and a higher median income than rural areas in the state. Plus you benefit from all the family-friendly activities in Dover, which is close by. Here are the numbers to know about this region:
Population: 12,192
Median Household Income: $79,677
Cost of Living: 108% of U.S. average
Average Rent Price: $1,950
Home Price-to-Income Ratio: 5.1
Recommended: Mortgage Prequalification vs. Preapproval
Best Places to Live in New Hampshire for Young Adults
New Hampshire has numerous places for young folk looking for nightlife and economic opportunity to thrive in. Here are the top three:
1. Lebanon

Photo credit: iStock/DenisTangneyJr
A diverse suburb packed with shops, restaurants, and outdoor recreation, Lebanon offers a lively atmosphere for young people. It has a lower price tag than Portsmouth and provides transportation to New York and Boston via the Dartmouth Coach. The city also houses the Powerhouse Mall, a regional shopping center, and is next door to Dartmouth College. Young adults — those between the ages of 20 and 39 — make up 36% of its population.
Population: 15,342
Median Household Income: $92,288
Cost of Living: 115% of U.S. average
Average Rent Price: $2,400/month
Home Price-to-Income Ratio: 4.7
2. Portsmouth

Photo credit: iStock/Sean Pavone
New Hampshire’s oldest city captures the hearts of the state’s younger crowd by combining top-notch breweries, boutiques, restaurants, and outdoor activities. About 17% of its residents are between ages 20 and 39, and residents compare the city’s nightlife to that of Boston. Here are more stats on the city:
Population: 22,733
Median Household Income: $105,756
Cost of Living: 128% of U.S. average
Average Rent Price: $2,750
Home Price-to-Income Ratio: 6.8
3. Salem
Home to the Rockingham Park Mall, the largest in New Hampshire, Salem has numerous amenities for young adults. The Castaway Island water park features a 60-foot water slide, while those who seek pure wilderness can find it in the White Mountains and surrounding lakes. In addition, Tuscan Village offers shopping, nightlife, and economic opportunities. Salem’s population includes 28% of residents between the ages of 20 and 39.
Population: 31,549
Median Household Income: $101,339
Cost of Living: 135% of U.S. average
Average Rent Price: $2,495
Home Price-to-Income Ratio: 5.6
Best Places to Live in New Hampshire for Retirees
As retirees embark on a new chapter of life, their priorities tend to align around factors like tranquility, health care access, recreational opportunities, and a welcoming community. In this regard, New Hampshire emerges as a haven for retirees, offering a selection of prime destinations tailored to meet these needs. Consider these three:
1. Exeter

Photo credit: iStock/DenisTangneyJr
In southern New Hampshire, a short drive from Manchester, Exeter shines as a unique retirement destination. With a remarkable 0.43 retirement community availability per 1,000 residents, the town offers abundant specialized living options. This figure, the highest among its peers on the list, underscores Exeter’s commitment to catering to retirees. Here’s more about this historically significant town that dates back to 1638:
Population: 16,172
Median Household Income: $96,483
Cost of Living: 117% of U.S. average
Median Rent Price: $2,225
Home Price-to-Income Ratio: 5.9
2. Rochester

Photo credit: iStock/DenisTangneyJr
Situated along the border shared with Maine, Rochester emerges as another best place to live in New Hampshire for retirees. Rochester boasts a significant senior demographic, with 19% of its population composed of individuals 65 and over. It’s a promising prospect for retirees yearning for an urban ambiance in New Hampshire.
Population: 33,519
Median Household Income: $79,388
Cost of Living: 108% of U.S. average
Median Rent Price: $1,800
Home Price-to-Income Ratio: 4.7
3. Londonderry
Londonderry presents a prime location with proximity to Manchester-Boston Regional Airport, easing travel for retirees and their social circles. It also boasts a robust medical infrastructure, with 3.82 medical centers per 1,000 residents.
The town has a senior population of 17%. Londonderry is an appealing choice for retirees seeking a diverse community inclusive of various ages and family structures. Londonderry is an economical choice for retirees looking to embrace their golden years.
Population: 26,708
Median Household Income: $130,481
Cost of Living: 116% of U.S. average
Median Rent Price: $2,355
Home Price-to-Income Ratio: 4.3
Best Places to Live in New Hampshire Near the Water
New Hampshire features lakes, rivers, and beachfronts to swim in, fish in, and enjoy. If you’re a fan of the water, consider living in these cities:
1. Hampton

Photo credit: iStock/DenisTangneyJr
Sitting on the Atlantic Coast, Hampton offers a boardwalk with beautiful beaches, the Casino Ballroom entertainment venue, carnival games, deep sea fishing, and whale watching tours. In addition, bird-lovers and adventure-seekers can enjoy exploring the Hampton Salt Marshes. While the Average Rental and homeownership costs are higher than other areas, its water-related offerings are unique to the state.
Population: 16,484
Median Household Income: $87,418
Cost of Living: 122% of U.S. average
Median Rent Price: $2,700
Home Price-to-Income Ratio: 4.61
2. Laconia

Photo credit: iStock/DenisTangneyJr
Nestled amidst a cluster of lakes, including Lake Winnipesaukee, Laconia boasts one of the lowest cost of living rankings in the state. The town has four beaches, including one for residents only. Locals enjoy entertainment at the Cake Theatre and Lakeport Opera House, not to mention boating, fishing, and other hallmarks of lakeside life. If home shopping is your next step, visit a home loan help center to learn more about the process and mortgage options.
Population: 17,142
Median Household Income: $68,427
Cost of Living: 103% of U.S. average
Median Rent Price: $1,800
Home Price-to-Income Ratio: 5.9
3. Portsmouth

Photo credit: iStock/SeanPavonePhoto
Portsmouth makes a second appearance, this time as an ideal beach town. It contains the mouth of the Piscataqua River, which features fantastic beaches, Peirce Island, and cliffside hiking areas. Plus, the USS Albacore Museum will inspire you to embrace life on the sea. Remember, Portsmouth is one of the more expensive locations in New Hampshire, so it can be cost-prohibitive depending on your budget.
Population: 22,733
Median Household Income: $105,756
Cost of Living: 128% of U.S. average
Median Rent Price: $2,750
Home Price-to-Income Ratio: 6.8
The Takeaway
Exploring the most affordable places to live in New Hampshire reveals a range of options that balance cost-effectiveness with quality of life. From the serene landscapes of Berlin, where the average monthly rent is a wallet-friendly $1,075, to the pricier beach town of Hampton, the state has plenty of options for young professionals, families, and retirees alike.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
Browse Other States
FAQ
Where is the cheapest place to live in New Hampshire?
Berlin, New Hampshire, stands out as an affordable place to reside, boasting a notably low cost of living highlighted by a mere $1,075 average monthly rent. This may make Berlin an attractive choice for budget-conscious individuals seeking comfortable living arrangements.
How much money do you need to live comfortably in New Hampshire?
Living comfortably in New Hampshire requires an estimated annual income of around $51,552 for a single adult to cover expenses such as housing, utilities, transportation, and daily essentials, according to MIT’s Living Wage Calculator.
Is New Hampshire cheaper to live in than Maine?
New Hampshire’s overall cost of living is slightly higher than Maine’s, however Maine has higher housing costs.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
‡SoFi On-Time Close Guarantee: If all conditions of the Guarantee are met, and your loan does not close on or before the closing date on your purchase contract accepted by SoFi, and the delay is due to SoFi, SoFi will provide you $2,000.^ Terms and conditions apply. This Guarantee is available only for loan applications submitted after 6/15/22 for the purchase of a primary residence. Please discuss terms of this Guarantee with your loan officer. The property must be owner-occupied, single-family residence (no condos), and the loan amount must meet the Fannie Mae conventional guidelines. No bank-owned or short-sale transactions. To qualify for the Guarantee, you must: (1) Have employment income supported by W-2, (2) Receive written approval by SoFi for the loan and you lock the rate, (3) submit an executed purchase contract on an eligible property at least 30 days prior to the closing date in the purchase contract, (4) provide to SoFi (by upload) all required documentation within 24 hours of SoFi requesting your documentation and upload any follow-up required documents within 36 hours of the request, and (5) pay for and schedule an appraisal within 48 hours of the appraiser first contacting you by phone or email. The Guarantee will be void and not paid if any delays to closing are due to factors outside of SoFi control, including delays scheduling or completing the appraisal appointment, appraised value disputes, completing a property inspection, making repairs to the property by any party, addressing possible title defects, natural disasters, further negotiation of or changes to the purchase contract, changes to the loan terms, or changes in borrower’s eligibility for the loan (e.g., changes in credit profile or employment), or if property purchase does not occur. SoFi may change or terminate this offer at any time without notice to you. ^To redeem the Guarantee if conditions met, see documentation provided by loan officer.
Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.
HomeStory will issue the reward using the payment option you select and will be sent to the client enrolled in the program within 45 days of HomeStory Real Estate Services receipt of settlement statements and any other documentation reasonably required to calculate the applicable reward amount. Real estate agent fees and commissions still apply. Short sale transactions do not qualify for the reward. Depending on state regulations highlighted above, reward amount is based on sale price of the home purchased and/or sold and cannot exceed $9,500 per buy or sell transaction. Employer-sponsored relocations may preclude participation in the reward program offering. SoFi is not responsible for the reward.
SoFi Bank, N.A. (NMLS #696891) does not perform any activity that is or could be construed as unlicensed real estate activity, and SoFi is not licensed as a real estate broker. Agents of SoFi are not authorized to perform real estate activity.
If your property is currently listed with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®.
Reward is valid for 18 months from date of enrollment. After 18 months, you must re-enroll to be eligible for a reward.
SoFi loans subject to credit approval. Offer subject to change or cancellation without notice.
The trademarks, logos and names of other companies, products and services are the property of their respective owners.
SOHL-Q125-108
South Carolina: Best Affordable Places to Live
Best Affordable Places to Live in South Carolina in 2025

(Last Updated – 03/2025)
Located on the southeast coast, South Carolina offers a mild climate and charming historical towns that draw crowds of urbanites looking for better quality of life. The state is home to many respected universities, including Clemson, The Citadel (The Military College of South Carolina), and the University of South Carolina. Residents who enjoy outdoor activities have everything from subtropical beaches to the Blue Ridge Mountains in the “Upstate” region. The cost of living is lower than the national average, as are housing costs.
Best Places to Live in South Carolina
South Carolina offers many beautiful cities and towns that combine old-world charm with modern buildings and public spaces. The cost of living in South Carolina is reasonable, and affordable neighborhoods abound in the suburbs of inland cities such as Spartanburg and Batesburg-Leesville. Beach lovers often gravitate to Myrtle Beach, whereas culture buffs appreciate the history and amenities of Fountain Inn.
Make sure you look into first-time homebuyer programs in South Carolina to see how you can save money. And if you’re a newbie homebuyer, use our first-time homebuyer guide to learn more about the process before you start shopping.
💡 Quick Tip: When house hunting, don’t forget to lock in your home mortgage loan rate so there are no surprises if your offer is accepted.
Best Affordable Places to Live in South Carolina
Now, come see where some of the best deals are if you are thinking of settling down in South Carolina.
1. Spartanburg

Photo credit: iStock/Kruck20
Spartanburg offers a wealth of arts and cultural amenities, as well as proximity to the stunning Blue Ridge Mountains. Several colleges and universities are located in the area, and the city is known for its family-friendly vibe.
Population: 39,040
Median Household Income: $51,193
Cost of Living: 90
Average Rent Price: $1,470
Home Price-to-Income Ratio: 4.25
2. Fountain Inn
A former stagecoach stop, the Fountain Inn area is best known for historical buildings and a meandering waterfall in Cedar Falls Park. The town’s proximity to Greenville and Columbia makes it a good option for those looking to commute to these urban areas for work. Recent renovations to its downtown promise a good balance of preservation and growth.
Population: 13,027
Median Household Income: $72,021
Cost of Living: 91.3
Average Rent Price: $1,880
Home Price-to-Income Ratio: 4.06
Recommended: Tips to Qualify for a Mortgage
3. Batesburg-Leesville
Photo credit: Wikimedia Commons/
Bill Fitzpatrick , Creative Commons Attribution-ShareAlike 3.0 Unported
This town is less than an hour from Columbia, the state capital, making it a great commuter area for those who prefer to reside outside a city. Camping and golfing are just two of the area’s outdoor activities. Families are drawn to Batesburg-Leesville’s strong options for public and private schools.
Population: 5,297
Median Household Income: $53,102
Cost of Living: 90.4
Average Rent Price: $1,151
Home Price-to-Income Ratio: 2.85
Best Places to Live in South Carolina for Families
Families looking for good schools and easy access to shopping, dining, and activities for the kids may find these three South Carolina cities are a good fit.
1. Fort Mill
Close to Charlotte Douglas International Airport, Fort Mill offers a good balance of city conveniences and suburban hush. Parents will appreciate the area’s many top-rated schools, while kids will be delighted by the expansive nature preserves, minor league basketball team, and Carowinds amusement park.
Population: 33,626
Median Household Income: $127,537
Cost of Living: 100.4
Average Rent Price: $2,039
Home Price-to-Income Ratio: 4.05
2. Summerville
Photo credit: iStock/benedek
In the 1800s, Summerville’s mild, dry climate attracted visitors looking to improve their health. Today, the town offers families — who make up just over half of all residents — walkable communities and pine-scented parks near the water. Those who intend to commute to Charleston for work can do so easily; Summerville is close to Interstate 95 and other major roadways.
Population: 51,884
Median Household Income: $78,621
Cost of Living: 98.2
Average Rent Price: $2,250
Home Price-to-Income Ratio: 4.83
3. Greenville
Photo credit: iStock/Sean Pavone
Located “upstate” near the North Carolina border, Greenville has a bustling downtown area with many family-friendly restaurants, breweries, and shops. Outdoor activities include hiking, biking, and walking on the 20-mile Swamp Rabbit Trail, which hosts an annual half marathon.
Population: 72,824
Median Household Income: $68,460
Cost of Living: 90.7
Average Rent Price: $1,750
Home Price-to-Income Ratio: 4.50
Recommended: Refinance Your Mortgage and Save
Best Places to Live in South Carolina for Young Adults
1. Columbia
Photo credit: iStock/Sean Pavone
The capital city has much to draw young professionals, from job opportunities to post-work entertainment. You’ll find music venues, an opera house, a philharmonic orchestra, and a number of museums. The Congaree Vista, formerly a warehouse district, has been revitalized with art galleries, shops, and restaurants.
Population: 142,416
Median Household Income: $55,653
Cost of Living: 94.4
Average Rent Price: $1,550
Home Price-to-Income Ratio: 4.09
2. Socastee
Considered a suburb of Myrtle Beach, Socastee offers affordable housing and wild outdoor settings. The Intracoastal Waterway runs through the city, making the area a destination for water sports enthusiasts, and the Waccamaw National Wildlife Refuge draws hunters, fishers, and photographers to its wetlands. Downtown, you’ll find a wealth of casual restaurants and bars.
Population: 22,213
Median Household Income: $59,826
Cost of Living: 90.4
Average Rent Price: 1,584
Home Price-to-Income Ratio: 5.10
3. Greenville
Photo credit: iStock/Sean Pavone
Greenville has everything young adults could want, from jobs with high-profile companies to a great bar scene and outdoor activities galore. The median age in Greenville is currently 35. The city is around 60% white collar residents, with an average salary of approximately $85,000 for those who hold graduate degrees. Much of the action can be found on Main Street, but hotspots are popping up in less commercial areas all the time.
Population: 72,310
Median Household Income: $60,388
Cost of Living: 90.7
Median Rent Price: $1,750
Home Price-to-Income Ratio: 5.10
💡 Quick Tip: Your parents or grandparents probably got mortgages for 30 years. But these days, you can get them for 20, 15, or 10 years — and pay less interest over the life of the loan.
Best Places to Live in South Carolina for Retirees
If you want a gentle pace of life but with lots of activities and natural beauty, check out these options:
1. Murrells Inlet
Photo credit: iStock/digidreamgrafix
Murrells Inlet is several miles from Myrtle Beach, so retirees can enjoy the Coastal Grandma lifestyle without the attendant tourists. This quiet community also has some of the best seafood in the state and several assisted living facilities.
Population: 9,740
Median Household Income: $75,438
Cost of Living: 94.7
Average Rent Price: $1,800
Home Price-to-Income Ratio: 5.03
Recommended: Best States to Retire for Taxes
2. Anderson
Population: 29,980
Median Household Income: $44,321
Cost of Living: 90.7
Average Rent Price: $1,450
Home Price-to-Income Ratio: 5.76
3. Little River
Another suburb of Myrtle Beach, Little River is a quiet town that hosts many retirees. The picturesque fishing community is the oldest of the 14 villages along the Grand Strand. Thanks to a cluster of restaurants and shops on the riverfront — the Little River serves as a natural border between North and South Carolina — residents can stay local or drive over the bridge to Myrtle Beach for more action.
Population: 11,711
Median Household Income: $64,590
Average Rent Price: $1,747
Home Price-to-Income Ratio: 4.66
Best Places to Live in South Carolina Near the Beach
Ready for some sand between your toes and amazing views of the water? Consider these three towns in South Carolina:
1. Myrtle Beach
Photo credit: iStock/DenisTangneyJr
One of the best known beach areas in the south, Myrtle Beach has a lot to offer. Its best-of-both-worlds location means you’re near amenities like dinner theater and museums but just a short drive from quieter neighborhoods and natural settings (and golf!). A popular resort area, the coast features classic attractions like a boardwalk, aquarium, arcades, an amusement park, and a famous Ferris wheel.
Population: 39,697
Median Household Income: $53,679
Cost of Living: 90.4
Average Rent Price: $1,872
Home Price-to-Income Ratio: 5.58
2. Beaufort
Photo credit: iStock/Marcopolo74
Situated close to the Georgia border, Beaufort is a small town near the beach offering many restaurants and shopping options in the downtown area. You’ll find festivals and cultural events throughout the year, and families appreciate the highly rated public and private schools.
Population: 13,850
Median Household Income: $59,454
Cost of Living: 104.3
Average Rent Price: $2,100
Home Price-to-Income Ratio: 6.60
3. Murrells Inlet
Photo credit: iStock/digidreamgrafix
Torn between the beach and the inland countryside? This small coastal town has a decidedly rural feel. Plus, Murrells Inlet sits between urban Myrtle Beach and Georgetown, providing stimulating day trips. If your interests lean toward sunset cruises and walking trails, however, you may never feel the need to leave this town.
Population: 9,740
Median Household Income: $75,438
Cost of Living: 94.7
Average Rent Price: $1,800
Home Price-to-Income Ratio: 5.03
The Takeaway
From small coastal towns to urban cultural centers, South Carolina has a wealth of history, culture, and natural wonders. In the north you’ll find the Grand Strand, 60 miles of beaches that end at Myrtle Beach. If Southern hospitality, comfort food, and slow living are up your alley, you’ll find plenty to appreciate in the Palmetto state.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
Browse Other States
FAQ
Where is the cheapest and safest place to live in South Carolina?
Some of the cheapest and quietest places to live in South Carolina include Fountain Inn and Little River.
Where is the nicest place to live in South Carolina?
While of course this is a subjective topic, some of the nicest places to live in South Carolina include the towns and suburbs of Myrtle Beach, for its natural beauty among other features, and Columbia, the state capital, for its thriving cultural attractions.
How much money do you need to live comfortably in South Carolina?
The amount of money you’ll need depends on where you live in South Carolina. However, most areas in the state have a lower cost of living compared to national figures.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.
HomeStory will issue the reward using the payment option you select and will be sent to the client enrolled in the program within 45 days of HomeStory Real Estate Services receipt of settlement statements and any other documentation reasonably required to calculate the applicable reward amount. Real estate agent fees and commissions still apply. Short sale transactions do not qualify for the reward. Depending on state regulations highlighted above, reward amount is based on sale price of the home purchased and/or sold and cannot exceed $9,500 per buy or sell transaction. Employer-sponsored relocations may preclude participation in the reward program offering. SoFi is not responsible for the reward.
SoFi Bank, N.A. (NMLS #696891) does not perform any activity that is or could be construed as unlicensed real estate activity, and SoFi is not licensed as a real estate broker. Agents of SoFi are not authorized to perform real estate activity.
If your property is currently listed with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®.
Reward is valid for 18 months from date of enrollment. After 18 months, you must re-enroll to be eligible for a reward.
SoFi loans subject to credit approval. Offer subject to change or cancellation without notice.
The trademarks, logos and names of other companies, products and services are the property of their respective owners.
SOHL-Q125-119
Montana: Best Affordable Places to Live in 2025
Best Affordable Places to Live in Montana in 2025

(Last Updated – 03/2025)
One of the least densely populated states in the country, Montana offers sweeping mountain vistas, pristine lakes, and plenty of appealing places to live. And with a cost-of-living index of 95% of the U.S. average, a graduated income tax, and no sales tax, Montana is an affordable option that provides a rich quality of life for those looking to live in the mountain west.
Interested in moving to Big Sky Country? In this guide, you’ll find the best places to live in Montana for young adults, families, and retirees. Whether you prefer a city or a small town, we’ve got all the information you need.
Best Places to Live in Montana
Montana is a nature lover’s paradise. Although it’s more expensive than neighboring North Dakota, the cost of living in Montana is lower than in nearby Wyoming. For families and individuals who want to live in the mountains, Montana has a lot to offer.
💡 Quick Tip: Buying a home shouldn’t be aggravating. SoFi’s online mortgage application is quick and simple, with dedicated Mortgage Loan Officers to guide you through the process.
Best Affordable Places to Live in Montana
Montana has a range of options, from small towns to big cities, that have a lower cost of living. You can choose a place with a quiet lifestyle, or something more bustling and active. If you’re hoping to buy in Montana, and this is your first-ever home, consulting a first-time homebuyer guide can give you options and ideas that could help you in your house shopping.
1. Butte
Photo credit: iStock/powerofforever
Once termed the “Richest Hill on Earth,” Butte was flooded with prospectors around the turn of the 20th century. They dug for copper, silver, and gold. These days the city offers a small-town feel with a charming western facade — and prices that will make you feel like you’ve found treasure. Newbie homebuyers may want to check out first-time homebuyer programs in Montana.
Population: 35,701
Median Household Income: $57,633
Cost of Living: 91% of U.S. average
Average Rent Price: $1,300
Home Price-to-Income Ratio: 4.6
2. Great Falls
Photo credit: iStock/leezsnow
Sharing a name with the gorgeous waterfall along the Missouri River — now towering 148 feet — Great Falls was an important stop along Lewis and Clark’s cross-country journey. Today, it’s home to a thriving cultural scene including the Lewis and Clark Interpretive Center, as well as many other museums and attractions. With a cost of living index that’s only 91% of the national average, this city is a great pick for those looking to find an affordable place to live. Ready to get serious about a home purchase in Great Falls? Going through the mortgage preapproval process could help you compete more effectively against other buyers.
Population: 60,422
Median Household Income: $63,934
Cost of Living: 91% of U.S. average
Average Rent Price: $1,350
Home Price-to-Income Ratio: 4.9
3. Billings

Photo credit: iStock/peeterv
The only city in Montana with a population of over 100,000, Billings offers cosmopolitan living with a gorgeous countryside backdrop — at a fraction of the price you’d pay in other big cities. With attractions including multiple museums, a world-class zoo, and several nearby state parks, Billings is also just a day’s drive from Yellowstone Park and the Beartooth Mountains. The different types of mortgage loans available could help make a home purchase more accessible for buyers. Prefer to rent? Rentals in the city are relatively affordable.
Population: 120,864
Median Household Income: $71,855
Cost of Living: 96% of U.S. average
Median Rent Price: $1,399
Home Price-to-Income Ratio: 5.3
Best Places to Live in Montana for Families
With its open spaces and incredible natural attractions, Montana is a great place to raise a family. The state’s relatively affordable prices can also make child-rearing more financially feasible. These kid-friendly towns and cities are the best places to live in Montana for families.
1. Kalispell

Photo credit: iStock/KenRinger
Situated within an easy drive of both Glacier National Park and the Flathead Valley, Kalispell offers city resources within proximity of some of the best outdoor playgrounds on earth. While housing prices are a little higher than in some other Montana cities, parents may be drawn to the area because the Kalispell public school system is well regarded. If you’re looking to buy, these tips to qualify for a mortgage could help set you up for success.
Population: 29,886
Median Household Income: $61,590
Cost of Living: 95% of U.S. average
Average Rent Price: $1,675
Home Price-to-Income Ratio: 8.7
2. Helena

Photo credit: iStock/DenisTangneyJr
Montana’s capital city is filled with natural and manmade attractions, and it’s well situated for an easy day trip to other Montana cities like Bozeman and Missoula. Plus Helena’s downtown is lined with well-preserved Victorian architecture. It’s an affordable and picturesque place for parents to raise their kids. And the small-town vibe means children can experience a world where they actually know their neighbors.
Population: 34,464
Median Household Income: $69,341
Cost of Living: 100% of U.S. average
Average Rent Price: $1,600
Home Price-to-Income Ratio: 6.6
3. Great Falls
Photo credit: iStock/shanecotee
In this city, your kids can take after Lewis and Clark and explore the world around them. As a bonus, the city is also home to the Children’s Museum of Montana. Parents will enjoy the lower-than-American-average cost of living. Thinking of purchasing in Great Falls? Make visiting a home loan help center one of your prep steps.
Population: 60,422
Median Household Income: $63,934
Cost of Living: 91% of U.S. average
Median Rent Price: $1,350
Home Price-to-Income Ratio: 4.9
💡 Quick Tip: Lowering your monthly payments with a mortgage refinance from SoFi can help you find money to pay down other debt, build your rainy-day fund, or put more into your 401(k).
Best Places to Live in Montana for Young Adults
For adults in their 20s and 30s looking to establish their careers, make friends, and maybe even meet their future partner, Montana has plenty to offer. That includes towns and cities that balance outdoor adventures with nightlife. Check out these best places to live in Montana for young adults.
1. Missoula
Photo credit: iStock/DenisTangneyJr
Known as the setting of A River Runs Through It — though the film was actually shot in Livingston, several hours further east — Missoula’s status as the home of the University of Montana means it sees more than its fair share of cultural events for a mid-sized city tucked into the mountains. And yes, a river really does run through it — three rivers, in fact, and one of them, the Clark Fork, has a man-made wave that people surf on. Missoula is an option for young adults hoping to find themselves and meet others along the way. Although the city’s median age is higher than the others on this list, job prospects in the education and health care fields mean plenty of opportunities for younger folks to meet.
Population: 77,757
Median Household Income: $65,329
Cost of Living: 107% of U.S. average
Average Rent Price: $1,325
Home Price-to-Income Ratio: 8.3
2. Billings

Photo credit: iStock/peeterv
For those who want to be where the action is, Billings is the place. The most populous city in Montana, it’s the perfect launching point for adventurous outings in nearby state forests, or refined evenings at the Alberta Bair Theater.
Population: 120,864
Median Household Income: $71,855
Cost of Living: 96% of U.S. average
Average Rent Price: $1,399
Home Price-to-Income Ratio: 5.3
3. Helena
Photo credit: iStock/ChrisBoswell
Yet again, Montana’s capital makes the list! With stunning landscapes in every direction, and lots of social activities to choose from, adventurous young adults will find plenty to do. Helena also offers job opportunities for those looking to break into the political scene.
Population: 34,464
Median Household Income: $69,341
Cost of Living: 100% of U.S. average
Median Rent Price: $1,600
Home Price-to-Income Ratio: 6.6
Best Places to Live in Montana for Retirees
What better way to spend one’s golden years than surrounded by glorious natural landscapes? Montana boasts plenty of communities that champion a low-stress lifestyle with abundant cultural activities, gorgeous parks, and opportunities for socializing.
1. Polson
Photo credit: iStock/gjohnstonphoto
Tucked along the shores of Polson Bay at the southernmost end of Flathead Lake, Polson is about as picturesque as it gets. The town’s population of just over 5,000 means a relaxed pace of life along with the chance to know all your neighbors. And with almost a quarter of the population age 65 or over, retirees can look forward to plenty of get-togethers with their peers. If you’re considering buying a home that’s on the pricier side, you may want to explore jumbo mortgage loans as you’re navigating the home-buying process.
Population: 5,613
Median Household Income: $51,463
Cost of Living: 105% of U.S. average
Median Rent Price: $1,499
Home Price-to-Income Ratio: 10.7
2. Missoula
Photo credit: iStock/James Griffiths Photography
As hip as Missoula is, it’s also a great option for retirees. For one thing, the University of Montana provides plenty of cultural attractions. In addition, summer farmers markets, community game nights, and other organized opportunities for building connections abound. Costs in Missoula remain fairly reasonable considering this is one of the state’s largest and most vibrant communities.
Population: 77,757
Median Household Income: $65,329
Cost of Living: 107% of U.S. average
Median Rent Price: $1,325
Home Price-to-Income Ratio: 8.3
3. Hamilton

Photo credit: iStock/johnrandallalves
Thanks to its location in the Bitterroot Valley, Hamilton has the lucky distinction of getting far less snow than other Montana cities in the winter. The town is also well known for its relaxed pace of life and proximity to hiking trails and hot springs.
Population: 5,268
Median Household Income: $52,917
Cost of Living: 98% of U.S. average
Median Rent Price: $1,900
Home Price-to-Income Ratio: 9.4
Best Places to Live in Montana Near the Mountains
You’ll find natural beauty in Montana, no matter where you go. But for climbers, skiers, snowboarders, and others who hear the mountains calling, these three cities will hold special appeal.
1. Kalispell
Photo credit: iStock/jodiecoston
Looking to balance proximity to Glacier National Park with reasonable prices? Chances are, you’ll find it here. Located in the midst of some of the very best parts of Montana, including Flathead Lake and the Kootenai National Forest, Kalispell offers a relatively affordable cost of living compared to nearby cities like Whitefish.
Population: 29,886
Median Household Income: $61,590
Cost of Living: 95% of U.S. average
Average Rent Price: $1,675
Home Price-to-Income Ratio: 8.7
2. Missoula
Photo credit: iStock/Montana Mermaid
This city is home to the Rattlesnake National Recreation Area, the Pattee Canyon Recreation Area, and the famous Mount Sentinel M Trail. Plus, the Clark Fork River that runs through town is great for fly fishing, kayaking, paddle boarding, surfing, and more.
Population: 77,757
Median Household Income: $65,329
Cost of Living: 107% of U.S. average
Average Rent Price: $1,325
Home Price-to-Income Ratio: 8.3
3. Bozeman
Photo credit: iStock/Lisa5201
Bozeman is the perfect solution for those who want it all: mountains, city life, community, and convenience. Here, you’re within easy proximity of the Bridger Range, Gallatin Range, Madison Range, Spanish Peaks, Beartooth Mountains, Crazy Mountains, and Tobacco Root Mountains — to name a few. And Yellowstone National Park is just an hour’s drive south.
Population: 57,305
Median Household Income: $79,903
Cost of Living: 111% of U.S. average
Average Rent Price: $2,500
Home Price-to-Income Ratio: 9
The Takeaway
Montana offers affordability for those who dream of living in the mountains. And it provides residents with endless recreational opportunities all year long. For families, young adults, and retirees who are considering moving to the state, Montana has a variety of options to explore — from tiny communities, to small cities, to robust college towns. Butte and Bozeman are just some of the top affordable cities on our list.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
Browse Other States
FAQ
Is Montana an affordable place to live?
With a state-wide cost of living about 5% lower than the U.S. average, Montana is relatively affordable. Other states known for their natural beauty such as Oregon, Maine, and Washington are significantly more costly.
Where is the cheapest place to live in Montana with mountain views?
While affordability is relative, one of the most affordable places to live in Montana with magnificent mountain views is Butte.
What is the best city to move to in Montana?
It depends on what you’re looking for. For affordability, Butte and Great Falls are great contenders; for proximity to stunning natural beauty, Kalispell or Bozeman are good bets. For those looking for a bigger-city lifestyle, Billings is the most populous community to consider.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.
HomeStory will issue the reward using the payment option you select and will be sent to the client enrolled in the program within 45 days of HomeStory Real Estate Services receipt of settlement statements and any other documentation reasonably required to calculate the applicable reward amount. Real estate agent fees and commissions still apply. Short sale transactions do not qualify for the reward. Depending on state regulations highlighted above, reward amount is based on sale price of the home purchased and/or sold and cannot exceed $9,500 per buy or sell transaction. Employer-sponsored relocations may preclude participation in the reward program offering. SoFi is not responsible for the reward.
SoFi Bank, N.A. (NMLS #696891) does not perform any activity that is or could be construed as unlicensed real estate activity, and SoFi is not licensed as a real estate broker. Agents of SoFi are not authorized to perform real estate activity.
If your property is currently listed with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®.
Reward is valid for 18 months from date of enrollment. After 18 months, you must re-enroll to be eligible for a reward.
SoFi loans subject to credit approval. Offer subject to change or cancellation without notice.
The trademarks, logos and names of other companies, products and services are the property of their respective owners.
SOHL-Q125-105
Cost of Living in Colorado
Cost of Living in Colorado
(Last Updated – 03/2025)
If you love to hit the slopes, you’ll love living in Colorado. Maybe the access to so much nature and so many outdoor activities is why Colorado is the state ranked ninth for overall health, according to U.S. News & World Report.
To better understand if living in the Centennial State is the right fit for you, keep reading to learn more about the cost of living in Colorado.
What’s the Average Cost of Living in Colorado?
Average Cost of Living in Colorado: $63,781 per year
Take a closer look at your budget before you decide to move to Colorado. MERIC data gathered in 2024 found that Colorado tied with Idaho and Puerto Rico for the 32nd best cost-of-living in the country. The neighboring state of Nebraska (No. 18) would be a better fit for those looking to save on living expenses. Kansas (No. 3) is an even bigger bargain. What does the Colorado cost of living look like? According to data from the Bureau of Economic Analysis, the average total personal consumption cost in Colorado is $63,781 per year. This is what the average spending looks like across a variety of categories.
|
Category |
Average Annual Per-Capita Cost in Colorado |
|
Housing and Utilities |
$12,600 |
|
Health Care |
$8,415 |
|
Food and Beverages (nonrestaurant) |
$4,922 |
|
Gasoline and Energy Goods |
$1,383 |
|
All Other Personal Expenditures |
$36,462 |
Housing Costs in Colorado
Average Housing Costs in Colorado: $1,496 to $2,732 per month
Colorado is home to more than 2.6 million housing units, which means you’ll have plenty of options. The big question is, can you afford rent or a mortgage in Colorado? Zillow reported Colorado’s typical home price as $543,106 in December 2024.
How much you’ll pay for housing will depend on if you’re renting or buying and how large your rental is. Here’s what those prices look like according to census data:
• Median monthly mortgage cost: $2,231
• Median studio rent: $1,496
• Median one-bedroom rent: $1,546
• Median two-bedroom rent: $1,810
• Median three-bedroom rent: $2,083
• Median four-bedroom rent: $2,305
• Median five-bedroom (or more) rent: $2,732
• Median gross rent: $1,771
Recommended: Denver Housing Market: Trends & Prices
Because prices can vary so much throughout the state, take a look at the typical home price in some of Colorado’s major cities, sourced from Zillow in December 2024:
|
Colorado City |
Typical Home Price |
|
Denver |
$578,381 |
|
Colorado Springs |
$454,606 |
|
Fort Collins |
$550,481 |
|
Greeley |
$497,199 |
|
Boulder |
$728,257 |
|
Pueblo |
$284,051 |
|
Grand Junction |
$406,092 |
|
Glenwood Springs |
$913,075 |
|
Durango |
$656,343 |
|
Edwards |
$1,333,925 |
|
Montrose |
$465,443 |
|
Cañon City |
$333,850 |
|
Breckenridge |
$960,807 |
|
Fort Morgan |
$337,997 |
|
Steamboat Springs |
$1,096,318 |
|
Sterling |
$245,944 |
|
Craig |
$284,107 |
Utility Costs in Colorado
Average Utility Costs in Colorado: $296 per month
It can get bone-chilling in Colorado, so you need to budget enough to keep the heat pumping in the winter. Here’s what the average utility spending looks like.
|
Utility |
Average Colorado Bill |
|
Electricity |
$95 |
|
Natural Gas |
$47 |
|
Cable & Internet |
$110 |
|
Water |
$44 |
Sources: U.S. Energy Information Administration, Electric Sales, Revenue, and Average Price; Statista.com, Average monthly residential utility costs in the United States, by state; DoxoInsights, U.S. Cable & Internet Market Size and Household Spending Report; and Rentcafe.com, What Is the Average Water Bill?
Groceries & Food
Average Grocery & Food Costs in Colorado: $410 per person, per month
We all need to eat, so it’s fair to wonder how much you should expect to spend on food in Colorado.
The Bureau of Economic Analysis estimates Colorado’s average annual nonrestaurant food cost per person to be $4,922, or about $410 per month. For a family of four, the grocery bill could be about $1,641 per month.
Where you live will play a role in how much you spend on food. The Council for Community and Economic Research ranks food costs in major cities. These are the rankings for grocery costs for 2024.
|
Colorado City |
Grocery Items Index |
|
Denver |
101.3 |
|
Colorado Springs |
101.9 |
|
Pueblo |
98.3 |
|
Grand Junction |
101.4 |
Transportation
Average Transportation Costs in Colorado: $9,550 to $17,771 per year
Daily commutes, weekend ski trips with the family, and getting from place to place all cost money. How much you’ll spend on transportation in Colorado depends greatly on how many working adults are in your family and how many children you have.
This basic breakdown from MIT’s Living Wage Calculator data as of February 2025 gives you an idea of what you might spend on transportation.
|
Family Makeup |
Average Annual Transportation Cost |
|
One adult, no children |
$9,550 |
|
Two working adults, no children |
$11,053 |
|
Two working adults, three children |
$17,771 |
Health Care
Average Health Care Costs in Colorado: $8,415 per person, per year
Colorado residents spend an average of $8,415 a year on health care, according to the Bureau of Economic Analysis Personal Consumption Expenditures by State report.
Of course that average can vary, depending on individuals’ coverage and needs.
Child Care
Average Child Care Costs in Colorado: $1,000 to $1,446 or more per child, per month
Child care can really eat up your budget, no matter where you live. The Colorado Child Care Assistance Program helps families who need child care so they can work, search for employment, or go through employment training in order to become self-sufficient.
These are the average child care costs you can expect to encounter in Texas, according to data from costofchildcare.org .
|
Type of Child Care |
Average Cost Per Month, Per Child |
|
Infant Classroom |
$1,446 |
|
Toddler Classroom |
$1,191 |
|
Preschooler Classroom |
$1,000 |
|
Home-Based Family Child Care |
$1,190 |
Taxes
Tax Rate in Colorado: 4.40%
No matter what state we live in, we all follow the same format when it comes to federal income taxes. However, states have different state income tax rates (if any) and varying ways of calculating how much is owed.
In Colorado, calculating how much you owe is simple, as Colorado has a flat income tax of 4.40%, according to the Tax Foundation’s State Individual Income Tax Rates and Brackets for 2025. Utah, a neighbor, also has a flat income tax rate: 4.55% as of 2025.
Miscellaneous Costs
If, as the Bureau of Economic Analysis estimates, other personal consumption expenditures (outside of the necessities like housing, transportation, and health care) total $36,462 a year, this is where some of that spending may be going (costs are accurate as of February 2025):
• If you want to practice rock climbing safely indoors before heading outside, check out the Boulder Rock Club, a popular local rock climbing gym: $28 for your first visit or $91 monthly membership for adults
• The Glenwood Caverns Adventure Park in Glenwood Springs offers a wide variety of family fun: $35 for a gondola ride to the top of the mountain ($30 online); $55 for a gondola ride and cave tours ($50 online).
• For a fun and educational family day in Denver, stop by the Denver Museum of Nature and Science: Youth tickets (ages 3-18) are $20.95, adult tickets are $25.95, and senior tickets are $22.95.
• Or catch a live concert at Red Rocks Park and Amphitheatre in Morrison, Colorado. This unique outdoor venue opened in 1941 and has been designated a National Historic Landmark. Admission is free to the 738 acre park for visitors from sunrise to sunset (on nonevent days). You can also grab a ticket to a concert (starting around $40, depending on the artist), to sunrise yoga ($19), or even to a movie ($20) “on the rocks.
How Much Money Do You Need to Live Comfortably in Colorado?
How obtainable it is to live comfortably in a specific state will depend greatly on your family size and other factors. That said, don’t expect to get off easy in Colorado.
Colorado rose slightly to the 41st spot in the 2024 U.S. News & World Report’s Affordability Rankings, which compare the average cost of living in each state with the average household income. Colorado fared much better in the previously mentioned MERIC study, where the state ranked 32nd.
What City Has the Lowest Cost of Living in Colorado?
Looking for an affordable place to live in Colorado? Take some time getting to know the two major cities with lower cost of living from the Council for Community and Economic Research’s Cost of Living Index for 2024.
Pueblo
The most affordable major city in Colorado is Pueblo, with a cost-of-living index of just 92.7. Enjoy strolls on the stunning Riverwalk, and take a break to enjoy one of the many local cafes or breweries.
Colorado Springs
With a cost-of-living index of 101.9, Colorado Springs is the third most affordable major city in Colorado. This city is a nature lover’s dream, and there is no shortage of hiking opportunities to help you blow off steam after work, perhaps at the nearby Peterson Space Force Base. On the weekends, enjoy some family time at the local zoo, museums, and parks. Colorado Springs is home to more than 60 attractions, so there’s no shortage of fun to be had!
Recommended: Colorado Springs Housing Market: Trends & Prices
SoFi Home Loans
Nature lovers will appreciate all the hiking, skiing, rafting, and biking Colorado affords. The cost of living in Colorado may be relatively steep, but it’s easy to see why you might want to move there and enjoy all that fresh mountain air.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
Photo credit: iStock/miroslav_1
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.
HomeStory will issue the reward using the payment option you select and will be sent to the client enrolled in the program within 45 days of HomeStory Real Estate Services receipt of settlement statements and any other documentation reasonably required to calculate the applicable reward amount. Real estate agent fees and commissions still apply. Short sale transactions do not qualify for the reward. Depending on state regulations highlighted above, reward amount is based on sale price of the home purchased and/or sold and cannot exceed $9,500 per buy or sell transaction. Employer-sponsored relocations may preclude participation in the reward program offering. SoFi is not responsible for the reward.
SoFi Bank, N.A. (NMLS #696891) does not perform any activity that is or could be construed as unlicensed real estate activity, and SoFi is not licensed as a real estate broker. Agents of SoFi are not authorized to perform real estate activity.
If your property is currently listed with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®.
Reward is valid for 18 months from date of enrollment. After 18 months, you must re-enroll to be eligible for a reward.
SoFi loans subject to credit approval. Offer subject to change or cancellation without notice.
The trademarks, logos and names of other companies, products and services are the property of their respective owners.
SOHL-Q125-150