This July 2013 photo shows
people walking down West Idaho Street in a farmer’s market in Boise,
Idaho. Sure you have to pay for the locally grown fruit, vegetables,
grass-fed beef or the various arts and crafts for sale, but the sights,
smells, sounds and people-watching are free at Boise’s version of the
classic farmer’s market. In three separate spots downtown, vendors set
up shop on blocked-off city streets or plazas each Saturday morning from
April through December. (AP Photo/Boise Parks & Recreation, Bill
Grange)
For each city, population figures are 2014 estimates from the U.S. Census Bureau, and housing prices are based on calculations from real estate website Zillow. Cost of living was calculated by CareerTrends, using 2013 data from the Economic Policy Institute. The cost of living index is based on a 100 point scale, with 100 representing the national average. Numbers under 100 mean average cost of living expenses are lower than the national average.
Las Cruces, New Mexico
-- Population: 101,408
-- Median House Price: $137,300
-- Cost of Living Index: 92
Las Cruces is ready to roll out the red carpet for retirees. The Las Cruces Green Chamber of Commerce offers a welcome kit for new senior residents that includes not only details about the city but also special discounts and offers.
Carrie Hamblen, executive director of the Las Cruces Green Chamber of Commerce, says one of the big draws in the area is the Organ Mountains-Desert Peaks National Monument. "It's literally in our backyard," Hamblen says. "It's a 15 minute drive from my house."
The monument was established by President Barack Obama last year, and its designation could bode well for the future of Las Cruces as a retirement destination. A 2015 report from the Center for Western Priorities found retirees are three times more likely to move to a Western county with protected lands.
Organ Mountains-Desert Peaks is marked by features such as the historic La Cueva rock shelter and Kilbourne Hole, a crater remnant from an ancient volcanic explosion. Active retirees can head to the monument for hiking, biking, horseback riding and climbing.
However, it's not only outdoor recreation that's attracting retirees to Las Cruces. They also come because of the low cost of living. "Folks who come here from California can easily buy a mansion," Hamblen says.
There are also two hospitals, public transportation and, for lifelong learners, continuing education options through New Mexico State University and Dona Ana Community College.
"We're very excited to welcome people to our community," Hamblen says. "Come enjoy our open spaces."
Lexington, Kentucky
-- Population: 310,797
-- Median House Price: $152,700
-- Cost of Living Index: 97
Travis Musgrave, a managing director and wealth management advisor with Merrill Lynch, has spent all 47 of his years in Lexington, Kentucky, and works with many retirees who choose to make the town their permanent home. Thanks in part to a large population of college students, the city has a youthful feel and can be a good choice for those who want to grow old in a community that doesn't make them feel old.
"We're small enough that you get some of that small town charm, but you also get big city advantages," Musgrave says.
Those big city advantages include medical centers with cutting-edge cancer, heart and Alzheimer's centers as well as public transportation, biking and walking paths, and easy access to highways. "We have a mayor who's put a lot of effort of into making a downtown that's vibrant and very livable," Musgrave says of the city's atmosphere.
An added perk for seniors 65 and older is the opportunity to take classes for free through the Donovan Fellowship for Academic Scholars program at the University of Kentucky.
As a wealth manager, Musgrave sees the cost of living and tax rate in the city as two of the biggest benefits to retirees. For instance, Lexington doesn't levy an income tax. Kentucky also won't tax your Social Security benefits, and it exempts some pension income from its state tax.
"From a financial standpoint, Lexington offers a lot of attractive things," Musgrave says.
Boise, Idaho
-- Population: 216,282
-- Median House Price: $185,100
-- Cost of Living Index: 104
Boise is already on the radar of many retirees, says Jeff Martel, a broker and owner of Better Homes and Gardens Real Estate 43° North. His firm is currently developing Heritage Grove, a community for those age 55 and older, and Martel notes they have sold property to people from every part of the country.
When asked about the appeal of the city, Martel says, "I see Boise as the last affordable mountain town in the West."
Karen Davis, 72, is one retiree who's been taken in the by the community. After 40 years of living in Huntington Beach, Florida, Davis moved to Boise eight years ago to be near her son. "I looked into going to Arizona or other places, but Boise had everything I was looking for," she says.
Like Las Cruces, Boise benefits from being in close to outdoor recreation options. The 25-mile Boise River Greenbelt is a highlight for those who want to walk or bike. Meanwhile, skiers will find only a 45-minute drive to world-class resorts. While it snows in the winter, Davis calls it "designer snow" because it shows up, looks beautiful and then disappears almost as quickly as it arrived.
The low cost of living was another draw for Davis who estimates her expenses in Boise are more than a quarter less than they were in Huntington Beach. Plus, she says her lifestyle is a step up from anywhere else she's lived. Davis has an apartment at the Affinity at Boise senior living community home, which she likens to living at a hotel. The building offers an indoor swimming pool, library, movie theater, onsite beauty shop and other amenities.
Above all, Davis likes the slower pace of life and friendly atmosphere in Boise. Martel says that's something his clients notice and appreciate as well. "People still wave at you here," he says.
Culled from US News
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