Best Places to Retire in Kentucky
Kentucky is an excellent place to settle down after retirement since Social Security benefits are tax-free and pension income is exempt from taxes up to a certain amount. Additionally, you’ll receive a sales tax credit on groceries, allowing you to save more of your income. Is Kentucky a decent location to retire, aside from financial savings? The Southern state might be a fantastic alternative for individuals who prefer to enjoy the finest of all four seasons. However, you need to decide where to retire in Kentucky. There are many cities that deserve your attention. For this reason, here are all the best places to retire in Kentucky to consider. Take a good look at every city, decide on one, start organizing your relocation, book the best long distance movers, and start your new chapter in life in Kentucky.
What should you know about Kentucky?
Kentucky is an economical alternative for retirement due to its cheap cost of living and tax-friendly conditions for retirees. Also, there are many small and medium-sized places with suburban and rural atmospheres. You don’t have to worry about a variety of food and shopping opportunities since they are many, as well as easy access to healthcare. Kentucky is a perfect state to settle down after retirement since Social Security benefits are tax-free. The pension income is exempt from taxes up to a certain amount. Additionally, you have a sales tax credit on groceries, making life here even more affordable. This is a huge advantage considering that your pension would probably be lower than your salary. Furthermore, organizing a relocation and hiring Kentucky long distance movers is expensive. So, you won’t have to spend a lot when living here.
The first city to consider would be Louisville
More than 760,750 people call Louisville their home and for a good reason. 16.7% of the population is over 65 which makes it one of the best places to retire in Kentucky. Additionally, the cost of living is 8% less than the national average with a $33,250 income per capita. Furthermore, the median home value is $165,500 which is much cheaper than the national average of $230,000. You can easily purchase a house before moving here with the long distance movers Louisville KY offers. The situation is similar when renting. The average rent is $880 while the national average is $1100. Ohio and Indiana are also conveniently accessible from Louisville. Louisville can be the best option for you if you enjoy having a wide variety of dining and shopping alternatives in addition to arts and culture.
Lexington is perfect for seniors as well
Lexington has a population of 325,150 people and 13% are older than 65. When you are a retiree here, your living costs are usually 4% less than the national average. In addition to this, Lexington is known as the horse capital of the world. It is popular for retirees who are passionate about horses and horse riding. If you are also a fan of the same, you should move here with the long distance movers Lexington KY has. You will have access to a variety of restaurants and stores. It is very interesting to be in Lexington during the several horse competitions each year. Furthermore, the median home value is $200,000. The average rent is around $900. The median household income is around $59,950. It is a little bit more expensive than Louisville but not by much. When compared to the national average numbers, it is still very much affordable.
The next city you should consider is Bowling Green
When compared to the other two cities, Bowling Green is on the smaller side. It has around 70,550 residents. 11% of the population is over 65. The cost of living for seniors is 8% less than the national average. Due to its abundance of parks and hiking trails, this lovely college town is among the best places to retire in Kentucky. There are several live music places that are popular among all age groups. There are also several outdoor performances during the warmer months. If you are looking to be active in a smaller community, this is a perfect option for you. You should hire the long distance movers Bowling Green locals recommend in this case. The median home value is around $169,000 while the average rent is $820. Furthermore, the median household income is $42,050. This all makes Bowling Green yet another affordable city for seniors.
Owensboro is one of the best places to retire in Kentucky
Owensboro has a population of 60,000. 17% of the population is above 65. The home median value is $113,500 while the average rent is $815. The median household income is $46,250. Two hospitals are located only one mile from the city. Even though it is small, Owensboro has a metropolitan lifestyle. If this is what you are looking for, find the best long distance movers Owensboro to move here. In addition to this, there are several local parks next to the Ohio River. This is the place where many locals take in the fresh air and keep in shape. You can also meet a lot of people here and expand your circle of friends. There are many things to do in the city since it has a strong culture of museums, including the Bluegrass Music Hall of Fame & Museum.
Fort Thomas is one of the small cities to consider
Some seniors would rather avoid large cities since they are usually loud and overcrowded. If you are looking for the same thing, you should consider Fort Thomas. There are 16,250 people living in the city. 16.1% are over 65. As a senior, you will spend 12% less than the national average on your living costs. Due to its history and open spaces, Fort Thomas is among the greatest locations in Kentucky to retire. Along with amusement park rides, dining options, and the biggest recirculating pool in the world, you will never be bored. The median home value is $230,500 while the average rent is $895. The median household income is $80,550. As you can see, Fort Thomas and Kentucky in general are not only good for seniors but also among the best places for veterans in the US.
Somerset is the smallest city on the list
Following the previous place, Somerset is the smallest city on the list with only 11,550 residents. 19% of the population is 65 which is pretty high considering the size of the city. In addition to this, it is 15% less than the national average for retirees to live here. Somerset, a lakeside community with many festivals and activities, should be taken into consideration by anyone looking for the best places to retire in Kentucky. One of the biggest hospitals in the state, Lake Cumberland Regional Hospital, is also located in the region. The median home value is $110,000 while the median rent is $650. In general, Kentucky is one of the states that have the cheapest homes. The median household income is around $27,850. Lastly, Somerset is more of a rural area with friendly and welcoming people.
Shelbyville is also worth your attention
As you might know by now, Kentucky is one of the states with the lowest taxes. Therefore, your cost of living will be much lower. Shelbyville’s living costs are 5% less than the national average. There are 16,590 people living in the city. In addition to this, 12% of people are over 65. Shelbyville, which is only 30 minutes from Louisville, offers a wide range of reasonably priced housing alternatives and activities. Along with a number of other interesting neighborhood restaurants and stores, the city is home to Claudia Sanders Dinner House. If you’re seeking possibilities in a larger city, you can always get to Louisville because of its proximity. The median home value is $188,000 while the average rent is $820. Lastly, the median household income is $65,950. Excellent proximity to retail and Interstate 64, as well as breathtaking beauty wherever you look.
Mayfield is one of the best places to retire in Kentucky
Another small town on the list, Mayfield only has 16,263 residents. 16% of residents are over 65. It is 12% less expensive to live here that the national average. Mayfield is among the greatest cities in Kentucky for retirees because of the small-town atmosphere and affordability. You may discover historical landmarks, parks, and a lot of picturesque countryside in the state’s southwest. The median home value is $105,000. You can also opt to rent your new home until you decide whether to invest in the property or not. In that case, the average rent is $590. In addition to this, the median household income is a little bit more than $36,500. Mayfield is close to a number of large cities that include the following.
- Nashville, TN – 2.5 hours
- St.Louis, MO – 3 hours
- Lexington, KY – 3 hours
Paducah is also perfect for seniors
With so many great cities, it is not surprising that Kentucky is always among the top states where people are moving to. However, since you are looking for a city for seniors, Paducah might be perfect for you. There are 24,850 people living in the city. More than 19% of residents are over 65. In addition to this, the cost of living is 8% less than the national average. Some residents will cite Paducah, a bustling suburb with a wonderful historical downtown district when you ask if Kentucky is a decent state to retire in. You will have many dining, shopping, and healthcare options if you live in this suburb. There are also many places with beautiful views of the river. The median home value is around $118,500 while the average rent is $690. Furthermore, the median household income is $39,050.
Ashland is also a great choice for people looking to retire
There are 20,150 residents living in Ashland, another great small city. More than 18.5% of people are over 65. The cost of living is 11% lower than the national average. The town of Ashland, a mid-sized city with a lot to offer, is one of the finest locations to live in Kentucky for retirees who love riverside life. There are several art places, distinctive restaurants, and stores in the downtown area. On the other hand, the median home value is $102,000. The median rent is $660. Furthermore, the median household income is $42,650. Additionally, the town is particularly great for people that like walking. There are many people strolling, playing tennis, and going to the dog park in Central Park. The park also puts up a stunning Christmas light display. There are many lovely residences with impressive architecture, and the cost of living is quite affordable.
Frankfort is the last city to consider
There is one more place left to mention. Frankfort has a population of 27,750 people. More than 16% of residents are over 65. In addition to this, the town’s living costs are 11% less than the national average. The median home value is $133,000 while the average rent is $780. The median household income is $50,600. Frankfort is one of the best places to retire in Kentucky if you want a more suburban lifestyle. Most locals like direct access to Cincinnati, Lexington, and Louisville, as well as the several golf courses that dot the area. Frankfort is popular among seniors coming from California, Chicago, Vermont, and Louisiana. The affordable home costs astound them. It is a river town. You can hike, boat, canoe, etc. It has outdoor concerts in the summer, breweries, the Kentucky History Museum, and a fantastic coffee shop downtown.
Which city should you choose in the end?
As you can see, these would be all the best places to retire in Kentucky. It is up to you now to decide where you want to live. Kentucky in general more affordable than the national average. You can easily buy a house since the median home value is pretty low. You should see if you would like the overall atmosphere of the place before making the final decision.