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Vol VI Issue 42
June 8, 2011
Previous Issues
Rural but Literary Oxford, Mississippi Beckons to
Retirees Seeking
Gracious Living, Southern Sophistication, Intellectual Stimulation,
an Intense Football Culture and a Reasonable Cost of Living
Cost of Living: Meets the National Average
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Reasons to retire in delightful Oxford
(population 18,000) are many, but the town's alluring literary
tradition may be one of the best. Located in the
rolling hills of north central Mississippi, this vibrant
hamlet is home to the University of Mississippi
(Ole Miss) and has been the inspiration for
writers William Faulkner, John Grisham, Willie Morris, Cynthia Shearer and many others. Residents
are diverse and educated (nearly 50% of adults age 25 or better
hold at least an undergraduate degree), and they talk of
the town's famous "literary mystique," that
intangible something that gets the creative juices
flowing and beckons to poets, novelists, and, yes,
retirees. Oxford offers a rich, laid-back but
cosmopolitan culture at an affordable price (the cost of
living meets the national average). Of the
population, 13% is age 45 to 64, and 13% is age 65 or
better.
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The median price of a home is roughly $185,000, and
prices have been holding fairly steady for the last year. Modest but well kept single family homes can be found in the
low-$100,000s. Condominiums start for sale for less than
$100,000, but inventory opens up in the low- to mid-$100,000s.
Most homes sit along leafy, oak lined streets, and a good variety
of housing types exists, from lovingly restored antebellum
mansions and palatial French country manors to everyday, brick
ranch-style dwellings. The median price will purchase
roughly 2,000 sq. ft. with three to four bedrooms, a large yard, a
detached garage, mature landscaping and upgrades.
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There are several
master planned developments, including Wellsgate (homes from the
high-$200,000s), a subdivision across from
John Grisham's part-time home on the west side of town, and Steeplechase, a
lovely development with homes in the $500,000 and up range. Oxford also has good selection of apartments
(although many units are rented by students), and the
median rent is about $650 per month.
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Mississippi has one of the lowest per capita tax burdens of
any state. When it comes to Oxford real estate taxes, property is assessed at
10% of market value, and the annual taxes on a $185,000 home
are about $1,020. As low as that is, homeowners also receive a $300 tax exemption, and homeowners age 65 or better
(or disabled) receive an exemption of $75,000 on the true value of their home.
Social Security benefits, retired military retirement pay, private pensions
and IRAs are all exempt from taxation, and there is no inheritance tax.
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This is an interactive map.
Click on the arrows in the upper left hand
corner to move the map to the East, West, North or South, and
click on the +/- signs (more than once if necessary) to zoom
in and out.
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Much of life in Oxford happens in the historic
downtown Square (the courthouse square) where coffeehouses, pubs, banks,
retailers, art galleries, law offices and more than fifty restaurants, including the
Downtown Grill and Proud Larry's, rub shoulders to create a
lively space. Rowhouse condos with colorful
balconies, the Oxford Farmers' Market and the renown Square Books bookstore
(where book signings take place and where famous authors are
said to hang-out) add to the eclectic atmosphere. Students help keep the
area hoppin', but everyone seems to enjoy the festive
feeling. Oxford has a vibrant music scene, and jazz piano riffs and blues
tunes are often
heard wafting through the Square.
Each spring the University of Mississippi hosts the Oxford Conference for the
Book, a three day event that brings some of the nation's most authoritative
writers, poets and publishers to town. It is open to the public and is
always well-attended. Each August, the University also presents
another literary get-together, the Faulkner and Yoknapatawpha Conference,
which brings in William Faulkner scholars from around the world (Faulkner's home -
Rowan Oak- is still here and is open for tours).
In
addition, Ole Miss presents live theater events, concerts, museum exhibits and
lectures for the public. The University library is also open to all residents.
Theatre Oxford, the local community theater group, presents plays each year,
and the annual Double Decker Arts Festival (April) showcases food, art and music.
The Town BBQ Throwdown, a celebration of all things
barbeque, has been named one of Mississippi's best festivals.
The Lafayette County and Oxford Public Library has books by mail, interlibrary
loan, classes, public computers, workshops and the highest circulation rate in the state.
Churches are many, with Baptist the most popular. Walmart has one store
here. People are well mannered (they still respond with "yes,
ma'am" and yes, sir,") and ready to help when needed.
Baptist Memorial Hospital -North Mississippi is a fully
accredited 205-bed, Level III adult trauma center and is part of the
award-winning Baptist Memorial Healthcare system. It has a women's center, a cancer unit, a cardiac care center,
24/7 emergency care and has experienced $150 million worth of upgrades and
improvements in the last 15 to 20 years. It meets national
averages in most specialty areas and accepts both Medicare and Medicaid
patients. For military retirees, the closest VA hospital is in Jackson,
175 miles away.
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Mississippi Real Estate Active Adult
Developments in Mississippi Retirement Communities
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