Missouri Best Places to Retire - A Guide 

Overall
Missouri, with a population of just over 6 million in 2012, is a midwestern state with much to offer baby boomers or others who would like to retire in Missouri - the Show Me state. The Mississippi and Missouri rivers run through this state which has 2 large cities - St. Louis and Kansas City. Agriculture is very important as well. The Wikipedia entry for Missouri has more interesting facts.

The reviews on this site can help you make a more informed choice about where to retire in Missouri or other states - there is important information about real estate prices; what makes each community special and not so special; along with important facts about the cultural, economic, medical, and transportation infrastructure.

the Gateway Arch in St. Louis

Missouri Climate
The Missouri climate is humid-continental, influenced by the Gulf of Mexico and from the northwest. Summers are hot and humid with frequent thunderstorms and occasional tornados. Winters are a bit milder in the south.

Economy and Real Estate Values
Missouri's per capita income at $24,760 is slightly  below the U.S. average. Median home prices are much less expensive than in the rest of the U.S.; the median value in early 2012 according to Zillow was $136,000. The median home in the Kansas City area sold for $133,100 in early 2013 (NAR) vs. the national median of $135,900; the cost of living index there is 88 (national index is 100). In Saint Louis the median home went for $131,700 and the cost of living index is 88.

Missouri Taxes

Tax Burden: With a tax burden of 8.95%, Missouri ranks 17th lowest of all US states. Total tax burden in Kansas City is slightly above average, 8.8% compared to the median rate for large U.S. cities. 

Marginal Income Tax Rates. Missouri has a 6% income tax on a top bracket that starts at $9,000.

Social security exemption. There is a state income tax deduction for social security benefits. For a chart of the deductions possible, click here.

Sales Tax: State sales tax is 4.5%.

Property Taxes: Residential property is assessed at 19% of its fair market value. A property tax credit credits some senior citizens, and all disabled citizens, 

Homestead Exemption. There is a homestead exemption which protects up to $15,000 of a home's equity.

Estate and/or Inheritance Taxes. There is no estate taxes. 

Link to Missouri Department of Revenue 

Certified Retirement Communities
Missouri does not have a certified retirement community program.

Best retirement communities in Missouri
Missouri has many towns that make great retirement communities; it is also starting to have many planned retirement communities. One of the best places to retire in Missouri is the college town of Columbia, home of the University of Missouri and 2 other colleges. Columibia is also a cultural center for the area. Other great retirement communities are Branson and Branson/Lakes on the Ozark Plateau, Springfield, Kansas City, Saint Louis, Lee's Summit, Independence, and Saint Joseph.

Free eBook - Baby Boomers Guide to Selecting a Retirement Community - 16 Factors
Download this free eBook and use its fun exercises to help you find your perfect active adult retirement community.

Get started with reviews of the best retirement communities.

Click on the Missouri Retirement Community reviews on the right. Or to find other state guides to retirement or more on types of retirement communities

 

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