Cost of living: 95 (national median: 100)
Median home price: $187,000 (national median: $185,000)
Healthy highlight: Sylvan Park farmers market
Nashville has long been known as the epicenter of country music. Recently, the hum of Nashville's music scene has had to compete with the thrum of the city's construction boom. Downtown, cranes dominate the skyscape; the Nashville Business Journal recently tallied 170 projects in the metro area.
12 Great Places to Retire for Your Good Health
- Naples, Fla.
- Lynchburg, Va.
- Billings, Mont.
- Greensboro, N.C.
- Omaha, Neb.
- Nashville, Tenn.
- Columbus, Ohio
- Austin, Tex.
- St. Petersburg, Fla.
- Augusta, Ga.
Millennials are moving to Music City in droves to grab jobs—the economy is as hot as a Merle Travis guitar lick—but retirees are finding a lot to like here, too. Beyond the construction and traffic of downtown, you'll find quiet old Nashville neighborhoods, such as Sylvan Park.
Sylvan Park is a 15-minute drive from downtown Nashville and as little as a 40-minute walk to Vanderbilt University, in Nashville's West End. The neighborhood, whose modest homes and quiet streets give it a southern, small-town sensibility, is bordered by two parks. Richland Park hosts a farmers market on Saturdays, and McCabe Park has a greenway, with walking and biking trails, that leads to a new community and fitness center and a 27-hole public golf course. A Nashville partnership with the Urban Land Institute is promoting the transformation of the outdated retail corridor to the north of Sylvan Park into a greener, more walkable street. "We're updating our neighborhood identity," says Sylvan Park Neighborhood Association president Tracy Kane.
Homes in Sylvan Park include cottages and bungalows built in the 1920s and 1930s, as well as new construction that is replacing small, older homes. Prices of homes sold in the past few months range from $300,000 for a two-bedroom cottage to $829,000 for a newly built five-bedroom house, says real estate agent Kimberly Davis.
Sylvan Park has a handful of restaurants and a public library, but an active cultural scene beckons beyond the neighborhood. Besides a host of honky-tonk bars, many with open-mic and songwriters' nights (à la the Bluebird Café, featured in the TV drama Nashville), the city boasts a blues and jazz scene, an opera, a ballet and a full calendar of musicals and plays. By day, you can enroll in the Osher Lifelong Learning Institute at Vanderbilt University or take classes at nearby Lipscomb University.
Just north of Vanderbilt's campus, you'll find its medical complex. The highly regarded St. Thomas hospitals are close by.
The cost of living is below the national average, and there's no broad-based income tax (but be prepared to fork over hefty sales taxes). Most seniors qualify for property tax relief. And the state no longer imposes an estate tax.
Mark became editor of Kiplinger's Personal Finance magazine in July 2017. Prior to becoming editor, he was the Money and Living sections editor and, before that, the automotive writer. He has also been editor of Kiplinger.com as well as the magazine's managing editor, assistant managing editor and chief copy editor. Mark has also served as president of the Washington Automotive Press Association. In 1990 he was nominated for a National Magazine Award. Mark earned a B.A. from University of Virginia and an M.A. in Writing from Johns Hopkins University. Mark lives in Washington, D.C., with his wife, and they spend as much time as possible in their Glen Arbor, Mich., vacation home.
Louisiana Tax Relief Granted After Seawater Intrusion
Tax Relief The IRS has granted Louisiana tax relief to affected taxpayers following seawater intrusion of the Mississippi River.
By Katelyn Washington Last updated
A 10-Year Checklist For Retirement Planning
This checklist for retirement planning will help you get in shape 10 years out.
By David Rodeck Published
What You Must Know About the Different Parts of Medicare
Medicare Medicare can be complicated but we've got you covered. Here is a quick guide to the different benefits provided through each part.
By Jackie Stewart Published
5 Ways to Shop for a Low Mortgage Rate
Becoming a Homeowner Rates are high this year, but you can still find an affordable loan.
By Daniel Bortz Published
Retirees, It's Not Too Late to Buy Life Insurance
life insurance Improvements in underwriting have made it easier to qualify for life insurance, which can be a useful estate-planning tool.
By David Rodeck Published
Best Banks for Retirees
banking Kiplinger's 2023 list of the best banks for retirees.
By Lisa Gerstner Published
Best Foreclosure Sites for Finding Properties
Making Your Money Last Wondering how to find foreclosed homes for sale for your next residence or to flip for a profit? These websites will guide you to foreclosures and real estate-owned properties to buy.
By Bob Niedt Last updated
As the Market Falls, New Retirees Need a Plan
retirement If you’re in the early stages of your retirement, you’re likely in a rough spot watching your portfolio shrink. We have some strategies to make the best of things.
By David Rodeck Published
Retirees: Your Next Companion May Be a Robot
happy retirement Robots may help fill the gap left by a shortage of humans to help older adults live independently.
By Alina Tugend Published
Using Your 401(k) to Delay Getting Social Security and Increase Payments
retirement Your 401(k) can be a bridge from retirement to higher monthly income.
By Elaine Silvestrini Published