Tags: Retirement | retirement | Missouri | affordable places

Most Affordable Places for Retirees in Missouri

By    |   Monday, 08 Jun 2015 11:01 AM

Seniors looking for a place to retire often look for ways to get the best value for the dollar, lest their fixed income soon become nonexistent. Here are five places in Missouri for the retirement-minded that combine amenities and necessities for retirees with an affordable cost of living.

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  1. St. Louis - The Gateway City made U.S. News and World Report's 2012 list of "Best Places to Retire for Under $40,000" and "10 Affordable Places to Rent an Apartment in Retirement." Contributing to the city's desirability for retirees was the presence of Barnes-Jewish Hospital, the state's biggest employer, which was ranked 14th in the nation for geriatric care. Housing costs were pegged at $1,186 a month with a mortgage, $442 without, and median monthly rent was $657. The median home cost in St. Louis itself was $98,400, and cost of living was 16.3 percent below the national average, according to Sperling's Best Places.
  2. Springfield  - The Show-Me State's third-largest city made U.S. News and World Report's 2011 list of "10 Places to Buy a Retirement Home for Under $100,000." The ranking balanced the city's "diverse and unpredictable weather" against proximity to Missouri State University, the Ozark Mountains, parks, and trails, and a 2010 median home price of $92,503. By 2014, Sperling's Best Places said the median cost of a Springfield home was $105,100, and the cost of living was 16.2 percent below the national average. Unemployment was 5 percent and improving.
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  4. Ste. Genevieve - The oldest European settlement west of the Mississippi River, Ste. Genevieve gets very high ranks form MarketWatch for its small-town, historic appeal. Sperling's Best Places says the median home cost in town is $117,200 and falling, and cost of living is 11.2 percent below the national average. Unemployment is 5.6 percent and improving as of 2014.
  5. Branson - With a reputation as a vacation destination for older adults, Branson nonetheless offers an affordable living for retirees and what MarketWatch says is above-average health care. Three regional hospitals are listed in Branson. Although the year-round population is slightly more than 10,000, the town sees 7 million tourists a year – and tourism-related jobs offer part-time, seasonal work for seniors not fully ready to retire. Sperling's Best Places says median home cost is $140,300, the cost of living is 6.9 percent below the national average and unemployment is 7.5 percent and improving, as of 2014.
  6. Cape Girardeau - A medium-sized Mississippi River town, Cape Girardeau swells to 100,000 thanks to an influx of workers from the surrounding area and students at Southeast Missouri State University. Crime rate, though, is higher than average, MarketWatch says. Sperling's Best Places says the median home cost in the Cape Girardeau-Jackson metro area is $120,200 and falling as of 2014. Cost of living is 10.7 percent lower than average.
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Seniors looking for a place to retire often look for ways to get the best value for the dollar, lest their fixed income soon become nonexistent.
retirement, Missouri, affordable places
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2015-01-08
Monday, 08 Jun 2015 11:01 AM
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