Amplify‘d from – www.topretirements.com
If you have been looking for the best Alabama retirement communities this website has the data and opinions you need. Choose from the best places to retire in Alabama such as Eufala or Fairhope.
Alabama has become a top state for retirement communities because of its warm climate and welcoming community. The Tax Foundation’s research indicates that Alabama is one of the most tax-friendly states in the union. Winters are warm mild and the long sea coast has many great beaches and harbors Alabama’s population was about 4.66 million in 2008. The median age is 37.1, slightly older than the U.S. average.
The Alabama climate is humid subtropical. Moist air from the Gulf of Mexico produces hot, humid summers with frequent thunderstorms. Winters are mild, even more so along the coast. Average January low temperature is 40, high is 61.
Economy & Home Prices
The Alabama 2007 per capita income was $40,956, about $10,000 below the U.S. median. The statewide value of a home was just over $100,000 in late 2010 (Zillow). The median value of real estate listings in Huntsville was $140,000 in late 2010 (City-Data). Median selling price in one of its larger cities, Mobile, was $120,000 in late 2010 (NAR). The cost of living in Alabama is below the U.S. average.
Alabama has a low tax burden compared to other states (38th highest at 8.6% of income). One of the biggest reason for that is that property taxes are the lowest in the nation. The median property tax paid on owner-occupied housing in FY2006 was $422. Alabama top marginal income tax rate is 5.0%, which applies once income reaches $3000.There is a 4% sales tax in Alabama, and it is included on food. Local communities can add their own sales tax. There are a number of income sources that are exempt from state income tax. Those exempt sources include federal and state pensions, “defined benefit plan” pensions, and social security benefits. For more information go to Alabama Department of Revenue.
Certified Retirement Communities
Alabama does not have a certified retirement community program.
Best Retirement Communities
Alabama has attracted many developers of retirement and 55+ active adult communities. One of the most interesting retirement communities in the U.S. is in Alabama, the former utopian community of Fairhope near Mobile. Another top-rated one is historic small town of Eufaula.
Get started with reviews of the Alabama retirement towns on the right.