#5 of 25 Best Places to Retire

Weatherford, Texas

5 of 25

Weatherford, Texas, offers plenty for horse enthusiasts.

Population: 25,200

% over 50: 31%

Median home price: $150,000

Top state income tax: None

Cost of living index: 87

As the Dallas/Fort Worth metro area expanded over the past couple of decades, many communities were overtaken by McMansions, shopping centers, and congestion. But Weatherford, 33 miles from Fort Worth, has maintained its own identity -- which is all wrapped up with horses. Specifically, cutting horses, which herd cattle and perform in exhibitions.

Dozens of professional trainers can be found here; residents can catch horse-cutting events at the nearby Silverado Arena or saddle up and canter out on the 26-mile trail that winds through the countryside.

Those not into equine pursuits can enjoy the laidback vibe of Weatherford's charming downtown, which includes a recently restored courthouse and boutique shops. There's also boating and fishing in Lake Weatherford -- though the severe drought conditions that have gripped much of the state this year have made such recreation difficult (and forced the town to impose limits on water usage).

Here you can live in a Victorian house -- or on a sprawling ranch. The affordable wide-open spaces, plus the lack of state income tax, are a big draw for retirees.

#4 of 25 Best Places to Retire

Danville, Ky.

Danville, Ky., is close to several historical sites.

Population: 16,200

% over 50: 37%

Median home price: $120,000

Top state income tax: 6%*

Cost of living index: 93

You can't stroll through this small town in horse country without feeling a strong connection to the past. A half-dozen different districts in Danville are listed on the National Register of Historic Places.

It was in Danville's Constitution Square that delegates assembled in 1792 to proclaim Kentucky the nation's 15th state. The original log post office -- dating from that same year -- still stands, as do many antebellum buildings. And there's plenty in the area to keep Civil War buffs happy, including nearby Perryville Battlefield, where Union and Confederate soldiers skirmished in 1862.

Expect plenty to do in the here and now, too. In the past 18 months, a new microbrewery and three new restaurants joined the art galleries and gift shops downtown. The Norton Center for the Performing Arts, at 190-year-old Centre College, offers many cultural events. In summer, Danville shows free outdoor movies each week; in fall, it hosts an annual arts festival (with historic reenactments) that draws artists from all over the state.

Two more pluses: The area's regional medical center is right in town. And the urban amenities of Lexington and Louisville are a 40- and 90-minute drive away, respectively.

#3 of 25 Best Places to Retire

Boise, Idaho

Boise, Idaho, has a thriving cultural scene.

 Population: 205,600

% over 50: 30%

Median home price: $120,000

Top state income tax: 7.8%*

Cost of living index: 97

If you're the type who can't survive without your symphony, art, and theater fix, you may have resigned yourself to staying in some pricey coastal burg during retirement. Take a look at Idaho's capital city instead.

Granted, Boise is no Manhattan. But its thriving cultural scene includes an opera company, a philharmonic orchestra, and a ballet. At Boise Art Museum, which focuses on contemporary American art, you'll see works by Ansel Adams and Chuck Close.

Catch shows at Boise State University's Morrison Center for the Performing Arts, which hosts not only classical events but also touring Broadway shows and such boomer draws as Merle Haggard and Kris Kristofferson. Or hit the annual Shakespeare Festival at the city's 770-seat outdoor amphitheater.

Residents also enjoy all the outdoor activities you might expect of a city that's flanked by mountains and bisected by a river full of fish -- and that has a mild climate year round.

Another plus: Violent crime in Boise is little more than half the national average. That's a remarkable score for a city this size.

#2 of 25 Best Places to Retire

Cape Coral, Fla.

Cape Coral, Fla., is paradise for water lovers.

 Population: 154,300

% over 50: 38%

Median home price: $95,000

Top state income tax: None

Cost of living index: 96

For retirees who are looking for lower taxes, cheap housing and a gentle climate, Cape Coral scores on all fronts. Home prices here, for example, have fallen more than 60% since the 2006 peak. For home buyers, that means a lot of bang for the buck: A newly renovated three-bedroom, 1,800-square-foot house with a pool was recently bought here for $145,000.

Lots of Florida towns have seen dramatic price drops, of course, but Cape Coral has something else going for it: It's paradise for water lovers. The town is sliced with 400 miles of canals, half of which have access to the Gulf of Mexico, about 20 minutes away by boat.

This quiet place doesn't offer much nightlife. But there's a public golf course, a weekly farmers' market with live music, and a nearby outlet mall. Training camps for the Boston Red Sox and Minnesota Twins are just 15 minutes away.

1 of 25 Best Places to Retire

Each of these towns offers amenities galore for the post-work crowd -- plus a cost of living that's pretty darn sweet.

Marquette, Mich.

Marquette, Mich., offers a walkable downtown.

Population: 21,400

% over 50: 30%

Median home price: $145,000

Top state income tax: 4.35%*

Cost of living index: 95

As lovely as it sounds to sip margaritas on the beach, doing it year round can get old. This picturesque town on Michigan's Upper Peninsula offers outdoor fun for all seasons. With an average of 141 inches of snow a year, there's plenty of the white stuff for cross-country skiing and other winter sports. In summer, you can grab a kayak and start paddling on Lake Superior.

And when outdoor activities grow tiresome, you can count your savings. A new three-bedroom townhouse with panoramic lake views recently sold for about $375,000. That's more than twice the price of the typical home here -- but 30% less than a similar property might have cost near Seattle.

There's also plenty of low-cost and free activities. Retirees can take advantage of a wealth of offerings at Northern Michigan University in town. People 62 or older can attend classes free, and the affiliated Northern Center for Lifelong Learning offers low-cost diversions, from bird watching to dinner clubs.

If all that excitement causes heart palpitations, you're in the right place: Thomson Reuters ranks Marquette General Health System among the nation's top 50 cardiovascular hospitals.

 By Sarah Max and Beth Braverman - Last updated September 16 2011: 12:56 PM ET

I bought my dream retirement home -- cheap!

Taking advantage of today's beaten down home prices and record-low rates, baby boomers are buying their dream retirement homes -- years before leaving the workforce.

Fortunate enough to take advantage of today's beaten down home prices and record-low interest rates, some baby boomers are buying their dream retirement homes -- years before leaving the workforce.


"We're seeing people purchasing homes five, six, seven years or more ahead of retirement," said William Filbin, a Re/Max broker in Marco Island, Fla.

It's an opportunity that's hard to resist: Home prices nationwide are down 32% from their mid-2006 peak, according to the S&P/Case-Shiller home price index. Meanwhile, mortgage rates are at historic lows with the 30-year fixed-rate hovering around 4.2%.

The question is: What to do with the property when you have so many years to kill before retirement?

To help cover the expenses of an extra mortgage and other bills -- like utilities and property taxes -- some pre-retirees are renting their homes out on long-term leases; others who bought in vacation hot spots rent to vacationers, said Mike Sannes, a Keller Williams broker with Big Bear Real Estate in San Bernardino County, Calif.

It doesn't always cover all the costs, but it helps.


By Les Christie - Last updated September 19 2011: 8:01 AM ET

Wonderful UPDATED Home in Hensdale Subdivision under $145,000

Wonderful UPDATED 3 bedroom, 2 bath Ranch style home in Hensdale Subdivision. This home offers: Greatroom with wood burning fireplace, spacious kitchen with large eat in kitchen area with new vinyl flooring. Formal Dining Room perfect for family dinners! Greatroom and Dining Room have new laminate wood flooring. Huge master suite with walk-in-closet, master bathroom with dual vanities and garden tub. All bedrooms have upgraded frieze carpet. All appliances including refrigerator to remain in home. Over sized two car garage. Large fenced backyard. Seller will provide a 1 year home warranty to new owners. Must see all these updates! Motivated sellers!

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