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Home                       Vol  III   Issue 29         August 3, 2008                       Previous Issues

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Rural Arkansas and Inviting Russellville Draw Retirees Seeking A Peaceful Setting, Lake Recreation and an Appetite for Life's Simpler Pleasures

Cost of Living:  Below the National Average

 

 

International Retirement Spots

 

 

 

 

Active Retirement

 

 

Real Estate for Retirement

 

 

Active Adult 55+

 

 

Master Planned Communities

 

 

 

Tucked away in rural west central Arkansas, about an hour outside of Little Rock, is the town of Russellville (population 25,000), an unassuming spot that seems to generate rave reviews from just about everyone.  The most appealing reason for considering retirement here is the very affordable cost of living, but with this also comes a rich quality of life, a fairly moderate climate, scenic surroundings and nearby lake and mountain recreation.   Small enough to be laid back and inviting but big enough to have most services residents need, Russellville is healthy and growing, and new retirees are arriving every day.  Of the population, 19% is age 45 to 64, and 14% is age 65 or better.

Russellville Arkansas Property

 

The overall cost of living here is a whopping 25% below the national average, and the median home price is $140,000, also significantly below the national average (we have seen recent published reports that the median home price is $85,000, but our research shows that $140,000 is closer to the mark).  This is not to say that there are not many cozy (1,000 sq. ft. or so), single family homes for sale in the $65,000 to $85,000 price range.  Slightly more money, $125,000 to $150,000, will fetch a 1,200 to 2,000 sq. ft. home with three to four bedrooms, two baths, an attached garage, mature landscaping and possibly acreage.  $225,000 will buy a beautiful five bedroom, three bath brick home with a pool and a three car garage.  In other words, real estate dollars go a long way in Russellville.

The property tax is roughly 45 mills per $1,000 in assessed property value, and property is assessed at 20% of market value.  The annual taxes on a $135,000 home would be $1,215.  All households are eligible for a tax refund of up to $300 regardless of income or age.  Social Security is exempt from taxation as is up to $6,000 in military, civil or private pensions.  The city sales tax is 8.5%.  Personal income tax rates range from 4.5% to 7%.

 

Russellville, Arkansas


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Nestled between two mountain ranges, the Ozark Mountains and the Ouachita Mountains, and situated along the Arkansas River in the idyllic Arkansas River Valley, Russellville is gaining a reputation as a recreation oasis.  Nearby sparkling, 35,000-acre Lake Dardanelle and Lake Dardanelle State Park provide plenty of areas for camping, hiking, canoeing, boating and picnicking (retirees have even been seen hang gliding, rock climbing and jet skiing as well), and the fishing is excellent.  Fishing tournaments (particularly bass) are big business in Russellville and attract national attention.   Lake Dardanelle is also a place to lend one's volunteer talents.  And when not on the Lake, residents can enjoy one private golf course (at the Russellville Country Club) and two public courses within a few miles of town.

Russellville, Arkansas, Continued...


Great Retirement Spots Newsletter is published four times a month by Webwerxx, Inc.  2770 S. Elmira St., #152, Denver, CO  80231. (303) 358-0512.  Copyright © 2006-2008.  All rights reserved.  No part of this electronic publication may be reproduced without the express written consent of Webwerxx, Inc.  All attempts were made to verify the accuracy of the information contained in this bulletin, but some information may have changed since publication. Webwerxx, Inc. cannot be held responsible for information that has changed since this publication appeared online.  Please contact us at staff@greatretirementspots.com if you have questions or comments.  


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