An article on MarketWatch.com suggests that low-income retirees who are looking for a cheaper town to live in might try somewhere like Owensboro.
A woman named Derinda wrote saying, “I am hoping for suggestions on where my husband and I could afford to live on our $38,000 annual budget. He is 71, disabled and receives Social Security. I am 64. We are looking for a more friendly retirement state with lower taxes and a lower cost of living.”
Mayor Tom Watson said Owensboro is one of the cities where a couple can afford to retire on $38,000.
After all, the U.S. Census Bureau said last year that the median household income in Owensboro was $46,193.
“It’s just a matter of housing,” Watson said. “They would probably want smaller houses on that income.”
He said he sent a link to the website to the Greater Owensboro Chamber of Commerce and plans to talk about it at the Tuesday, Aug. 2, City Commission meeting.
“I want to get the news out there that people can retire here on $38,000 a year,” he said.
The MarketWatch.com article says of Owensboro, “This city of 60,000 along the Ohio River in western Kentucky comes with a low cost of living — and a big music scene.
“Start with Friday After 5 — that’s free concerts at five venues along the Ohio River every Friday from Memorial Day to Labor Day. Then there is the Nashville Songwriters Series every other Thursday featuring Nashville artists; admission is only $10. Nashville is less than two hours away. And many local restaurants have music offerings, too.”
The article says, “Owensboro also is the birthplace of bluegrass and home to the Bluegrass Music Hall of Fame & Museum. I’m told contemporary strains of bluegrass are far from the stereotype of an old guy with a banjo.
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“You’re not into bluegrass and country? Check out the RiverPark Center, the performing arts center that brings in traveling Broadway shows and other events. Or wander through the Western Kentucky Botanical Garden.”
It adds, “The cost of living in Daviess County is about 12% below the national average. The transit system has multiple bus routes, and fares for those 60 and older or disabled are just 50 cents.”
The latest listing on retirees is among several Owensboro has had in recent years.
In 2019, the website 24/7 Wall Street compiled a list of the best places to retire in each state.
And in Kentucky, the site said, was Daviess County.
The website said it created an index based on 17 health and economic considerations.
Health factors, it said, included the number of health professionals per capita, the presence of social institutions, access to exercise facilities and the prevalence of diseases such as diabetes.
Economic factors included median home values, the estimated monthly cost of living for two people and the amount of state and local taxes.
And in 2015, SmartAsset.com also said that Kentucky was best state for early retirees to call home.
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