New England Mill Town Revitalization Draws Retirees Seeking Affordable Living

Lewiston, Maine, is a historic former mill town in Central Maine that has experienced steady revitalization as it moves away from its industrial past. And it’s among the top 100 places to retire, according to Investopedia’s own research.

The town is located along the Androscoggin River and was once a hub for textile manufacturing. Keeping much of its historical character, Lewiston has attracted new investment and community involvement, positioning it as an appealing option for retirees seeking New England charm, affordability, and a slower pace of life.

Cost of Living & Housing

One of the main benefits for retirees considering Lewiston is its lower housing costs compared with many other Maine locations.

The median home price in Lewiston is significantly lower than the state median, allowing retirees to keep more of their savings or reduce housing debt. Lewiston scored very high in our comparison group for affordability when it comes to housing costs and rental costs.

Housing options in Lewiston range from modest single-family homes to renovated mill buildings converted into apartments and condos, with walkable neighborhoods.

Everyday expenses such as transportation, utilities, and groceries remain manageable, appealing to retirees on fixed incomes. Additionally, Maine’s overall cost of living is the lowest of New England states, which can help retirement savings go further.

Maine’s tax structure also benefits retirees, as it does not tax Social Security or Railroad Retirement benefits (but they reduce your allowable pension income deduction). Military benefits are also not taxed, and the state’s flat 5.5% sales tax does not include local add-ons, so what you pay at checkout comes with no surprises. Any income you earn in Maine (for example, if you work part-time in retirement) is subject to income tax rates ranging from 5.8% to 7.15%.

Maine also has cigarette excise, gas, estate, and property taxes. Retirees can receive a property tax credit or deferrals through the state’s Revenue Services department.

Revitalization & Community Life

Lewiston has revitalized its downtown by repurposing industrial spaces rather than focusing solely on new development. Small businesses, offices, and residential spaces have taken root in formal industrial sites, giving the town a more dynamic urban center.

New restaurants, cafes, and art spaces have opened, and local initiatives, such as farmers’ markets and neighborhood events, make it easy to be involved with the community.

For retirees who are new to town, those everyday gatherings can be a simple way to meet people and start building a social circle. Over time, that shared routine helps create a sense of belonging and civic pride.

Culture, History & Local Identity

Lewiston’s industrial past is reflected in its architecture and riverfront development. Historic mill buildings, civic structures, and heritage design all add to a strong aesthetic that makes Lewiston stand out from more recent retirement communities.

The town’s cultural scene is also rich, experienced through museums, local arts organizations, and nearby colleges. This provides retirees with access to lectures, performances, exhibitions, talks, and much more without the need of having to travel far.

Walkability & Location

Lewiston’s compact downtown makes daily life tasks much simpler, as retirees don’t have to get on public transport or drive for errands to enjoy the local shops or access health services.

Lewiston is also just across the river from Auburn, which widens the options for shopping, dining, and services for retirees, all while maintaining a small-city feeling.

Outdoor & Nature Access

Retirees looking to spend some time outside of the city can find plenty of options. The Androscoggin River, nearby walking trails, and regional lakes open up a host of activities, such as fishing, hiking, and general scenic relaxation.

Additionally, Maine’s four seasons can be a positive for retirees who enjoy seasonal changes. Fall showcases beautiful foliage, summer evenings are mild, and winter landscapes are covered in snow.

Four-season living means there’s usually an outdoor rhythm that fits everyone, from skiing in the winter to swimming in the lakes in summer.

Healthcare Access

Healthcare is one of the most important criteria for people when considering a place to retire, and Lewiston functions as a regional medical center within Central Maine.

Central Maine Medical Center is located in downtown Lewiston and serves Lewiston, Auburn, and other communities in the region.

There are other local hospitals as well as clinics, ensuring retirees will have reliable access to specialists without having to travel long distances.

Compared to other Maine locations in our list for places to retire, Lewiston scores the highest in the “average star rating for hospitals” category. Additionally, Maine scores higher than most other locations in our list for Medicare performance.

The Bottom Line

Lewiston, Maine, offers a place that feels lived-in, honest, and quietly improving without pricing people out. Its affordability, strong healthcare access, and thoughtful revitalization create real value for retirees who want their money to stretch further and their days to be full if they choose.

If you’re weighing different retirement paths, Lewiston is a practical, under-the-radar New England retirement choice.