6 Wallet-Friendly Small Towns To Retire In Indiana

Indiana, known as ‘The Crossroads of America,’ provides residents with an affordable and relaxing lifestyle. With an average housing price of around $275,000 as of November 2025, the state offers more affordable housing as well as lower healthcare costs compared to many other parts of the United States. With over 17% of the population aged 65 or older, Indiana is becoming an increasingly popular place for retirement. The state offers numerous opportunities for outdoor recreation, including exploration, hiking, boating, and fishing, as it is home to numerous lakes, parks, and forests. The six towns discussed are among the best wallet-friendly options for retirement in Indiana.

Clinton

On the banks of the Wabash River is the town of Clinton, Indiana. Known for its safety, thriving business climate, and an average housing price of around $129,000, Clinton offers affordable living and natural beauty. The senior citizens center, Clinton Gardens, and Heritage House of Clinton nursing homes provide older residents with a variety of living options and access to resources. A popular annual event in Clinton is the Little Italy Festival, held for multiple days during the Labor Day weekend, which offers free stage entertainment, a parade, flea market, grape stomping, carnival, and Italian-style food. For those who want to engage in more recreational activities, Sportland Park is the largest free, year-round park that has a walking track, soccer/football field, two basketball courts, two softball fields, and three baseball fields.

New Castle

On the Big Blue River, in eastern Indiana, sits the idyllic town of New Castle. This evolving community has a median home price of around $165,000, making it much lower than the state average. There are plenty of senior care services in and around New Castle to socialize and participate in activities, such as the Henry County Senior Center. Those who enjoy the outdoors should visit Summit Lake State Park, known for fishing and offering four hiking trails as well as access to the Zeigler Woods Nature Reserve. Another great place to visit is Henry County Memorial Park, a 362-acre park with a lake, pond, trails, and it is often the site of events, like concerts and fireworks.

Whiting

Located on the southern shore of Lake Michigan is the town of Whiting, Indiana. The median house price of approximately $210,000, and its overall lower cost of living, make Whiting an appealing place for retirement. The town has retirement homes, a community health center, and assisted living options for older residents. The City of Whiting holds senior socials at City Hall throughout the year, allowing older residents to connect and stay active with various activities such as art and exercise classes. A popular event in the area is the Pierogi Fest, a large street festival rooted in Polish tradition, where the streets are filled with amazing food, music, and activities. Additionally, Downtown Whiting offers residents access to numerous shops, restaurants, and activities that are all within walking distance.

Madison

Along the Ohio River is the historic river town of Madison, Indiana. Known as a ‘community built for seniors,’ Madison has an average house price of around $250,000 and provides a relaxing environment rooted in historic charm. The Madison Jefferson County Senior Citizens Center is a place that older residents can engage in crafts, exercise classes, and even weekly dances. Shop locally by heading over to the historic Main Street, where the Madison Farmers Market is held year-round, where you can find fresh local produce and many other items, all while listening to live music. For outdoor adventure, Clifty Falls State Park is a popular location featuring a waterfall, a nature center, and an Inn. At the park, visitors can swim, hike, play tennis, and even camp in designated areas.

Marion

Marion, Indiana, is located along the Mississinewa River in east-central Indiana. With a median home price of around $140,000, this affordable and historically stunning town is a great place for retirement. The Marion Grant County Senior Center adds to the town's appeal, as it offers older residents with recreational, social, nutritional, educational, and health services. Known as the birthplace of James Dean, the town of Marion is recognized throughout the world for its family drive-through attraction known as the Walkway of Lights held in Matter Park. This holiday attraction will make you wish that it were winter all year round, offering stunning light displays that span over two miles. However, the warmer months in Marion also provide some amazing activities, such as the Grant County Fair, a great place to walk around and watch a wide range of shows.

Richmond

Located on the border of Ohio, on the Whitewater River, is Richmond, Indiana. The average home price is approximately $150,000, making it significantly less than the state median. A great place that is popular among older residents is the Richmond Senior Recreation Center. With a yearly membership of only $25.00, people over 50 can have fun and participate in interesting activities at an affordable price. Similarly, Richmond Parks and Recreation has activities that specifically cater to seniors. The area has earned a reputation as the best Midwest antiquing destination, home to Antique Alley, a loop trail that features over 1,200 antique dealers, where you are sure to find one-of-a-kind items. Experience Richmond’s outdoor beauty by visiting Hayes Arboretum, featuring 466 acres of protected wetlands, prairies, and forests.

Retirement In Indiana

Indiana offers a unique blend of natural beauty, comfort, and affordability, making it an appealing option not only for retirees but for almost everyone. The state’s slower pace of life allows residents to enjoy a sense of balance and peace, while its strong community values offer a feeling of connection and belonging. The abundance of outdoor adventures available throughout the state helps encourage a healthy and active lifestyle. Indiana also contains many state parks, lakes, and forests, where residents can enjoy year-round activities, such as camping, hiking, fishing, and boating. With access to modern amenities, resources, and small-town charm, Indiana is becoming a great place to call home.