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Previously nicknamed the Village of Lake Captains, Vermilion, Ohio features stunning Victorian and Queen Anne dwellings that once housed these masters of the waterways. In 2026, it is now also considered a cheap lake town for retirees. According to\u00a0TheTravel<\/a>, the\u00a0average cost of living in Vermilion was\u00a0$1,970, 19% less than the national average, as of 2024. Plus, Ohio is one of the states with the most affordable home prices<\/a>. In fact, according to Redfin<\/a>, the median home price was\u00a0$185,000 in March 2026.\u00a0Moreover, some of the best home insurance companies<\/a> offer policies in Ohio.<\/p>\n In Vermilion, plenty of properties are near water \u2014 either by Lake Erie, the Vermilion River, or the Lagoons. In fact, the entire north side of the city runs along the Great Lake. Using Zillow<\/a> data, a typical home in the Vermilion on the Lake (VOL) community by Lake Erie can go for $120,000 while one along the Vermilion River could cost around\u00a0$180,000. Meanwhile, homes in the Lagoons can be\u00a0priced significantly beyond that. If wanting to rent, the\u00a0Vermilion Daily<\/a> listed rates ranging from $800 to $2,200 monthly with a typical property renting for $1,350 a month in 2024.<\/p>\n Much of Vermilion is quite walkable, meaning easy water access and a vibrant downtown. Downtown Vermilion\u2014known as Harbour Town or Uptown\u2014encompasses the shopping district, and is also known for festivals that attract people of all ages, but these aren’t the only reason to consider Vermilion.<\/p>\n
<\/p>\n Lower costs and a sense of community make Vermilion appealing<\/p>\n
justcary\/Shutterstock<\/p>\n It’s not just housing that’s cheaper in Vermilion. As of Spring 2026,\u00a0BestPlaces<\/a>\u00a0calculates that groceries cost about\u00a03% less than the national average in Vermilion with utilities coming in 7.4% lower. Meanwhile,\u00a0Salary.com<\/a>\u00a0lists the average food cost for a single person at $328 a month, with energy costs at $156, as of May 2026.\u00a0<\/p>\n However,\u00a0Ohio can be an attractive destination for retirees<\/a>\u00a0for reasons that go beyond financial savings. In fact,\u00a0according to U.S. Census Data<\/a>, nearly 19% of Ohio residents are aged 65, giving retirees plenty of people their own age to socialize with. In Vermilion, the percentage of those who are 65 and up is nearly 26%. It’s also worth mentioning that Vermilion has low crime. Area Vibes<\/a>, using 2024 FBI crime reports, gives the city an A+ for safety, which can give retirees a sense of confidence when walking around downtown or when relaxing on a beach.<\/p>\n
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