Where to Buy A Retirement Home for Under $600 a Month

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Phoenix

(David Liu/istockphoto.com)

The median home price in the Phoenix area stood at $145,000 in the second quarter of 2010, up 11 percent from a year earlier. Buyers that put 20 percent down—or $29,000—on a median-priced Phoenix home will have monthly payments of roughly $579 for mortgage principal and interest.

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