The state offers a diverse mix of communities, from lively cities like St. Louis, to smaller but no less interesting communities, like Branson. In recent years, the state’s low cost of living — 9 percent lower than the national average — has been attracting retirees to Missouri, where the median home price is below $125,000. Taxes in Missouri are generally reasonable; the top state income tax rate is 6%, and Social Security benefits are not taxed for most retirees.
Additionally, some seniors may qualify for a property tax credit, as well as exemptions on some public and private pensions (with income limits).
Missouri’s main towns of Kansas City, St. Louis and the college town of Columbia have been attracting seniors who aim to enjoy the various towns’ cultural and historic offerings, such as plays, concerts and the Gateway Arch.
Con: Frequent thunderstorms and possible tornadoes in summer
Best For: Retirees on a budget
Cost of Living: 9% lower than national average
Median Home Cost: $122,500
Top State Income Tax: 6%
Meanwhile, outdoors lovers can take advantage of attractions in the Ozark Mountains, including Lake of the Ozarks, as well as a number of caves and natural springs.
Retirees considering a move to Missouri should be aware that while the weather is generally mild, summers can be hot and humid, and the state does experience frequent thunderstorms and occasionally, even tornadoes.