If you are retiring soon and are interested in a budget-friendly option with scenic surroundings and high safety levels, look no further than Hot Springs Village. Arkansas boasts some impressive destinations you can explore. But this tiny community not only allows you to retire with no savings, but also promotes an active lifestyle and offers plenty of amenities that appeal to many older adults. Here are the 15 reasons this Southern town is the best place to retire in the US.
Lower Cost of Living
Wondering where you can happily retire with no savings? Go Banking Rates recently analyzed 100 towns and cities with the highest senior population, based on several factors, including the average cost of a home and annual expenses for older adults aged 65 and above. Hot Springs Village emerged as the top retirement destination with little to no savings. Housing costs are below $140 per square foot, and seniors spend just over $21,000 on necessities.
Property Taxes are Lower
Another reason you’ll love it here is the tax-friendliness of Arkansas, whose property tax rates are relatively lower than those of many states across the US. At 0.6%, it has one of the lowest property tax rates in the country. Hot Springs Village rates are significantly lower than the U.S. average and slightly lower than the state’s, which means low monthly payments on your home value.
Arkansas Doesn’t Levy Taxes on Social Security
The state doesn’t just offer lower property tax rates – it doesn’t levy taxes on social security benefits! Arkansas levies an income tax, but Social Security income is exempt from that. Other forms of taxable retirement income include pensions and retirement accounts, which also qualify for a maximum tax exemption of $6,000. Please note that you can only apply for one deduction, except for couples eligible for two deductions.
Natural Beauty and Outdoor Recreation
Beyond value for your retirement money, Hot Springs Village enjoys a scenic location in the foothills of the Ouachita Mountains. Spending your golden years there means you’ll be surrounded by numerous natural features, from lush forests to beautiful lakes and sweeping mountain vistas. That also means access to multiple outdoor recreational opportunities.
An Incredible Variety of Senior-Friendly Amenities
With over 200 clubs and organizations, you’ll have endless social opportunities in this small community. Beyond the social clubs, the village offers amenities like community centers, lavish senior living options such as Chenal Pines Retirement Resort, scenic nature trails, and libraries, which can enhance your retirement experience.
It Promotes an Active Lifestyle
With scenic natural surroundings and endless options for outdoor recreation, you’ll enjoy an active lifestyle. While it’s not exclusively a senior community, its picturesque location and amenities, including nine golf courses, cater to seniors who prefer to remain active for a healthy lifestyle after retirement.
A Peaceful, Rural Vibe
Hot Springs Village’s location in a natural setting makes it the perfect option for seniors seeking a combination of scenic scenery and a peaceful community. Despite being a large, gated environment, it offers rural vibes, wide open spaces, low population density, and a laid-back atmosphere. If you’re looking for a relaxing lifestyle after leaving the workforce, this is the right place to call home.
Easy Access to Urban Experiences
The village is 17.7 miles from the City of Hot Springs, taking just an hour of your driving time. The city is known for its unique blend of natural and urban adventures, thanks to being home to Hot Springs National Park. Its lively downtown has delicious restaurants, unique shops, and diverse entertainment options. At Oaklawn Racing Casino Resort, you’ll enjoy a unique combination of casino and resort vibes. Hot Springs’ historic baths and spa services are other urban experiences you can easily access from Hot Springs Village.
The Village Boasts a Strong Sense of Community
The numerous clubs and organizations that cater to various interests foster a strong sense of community in Hot Springs Village. The community also hosts multiple events and festivals, from concerts and live music to craft events and workshops, which bring people together. Additionally, it’s home to Hot Springs Village Green Market, a lively farmers market where you can enjoy meeting and interacting with other residents.
Strong Senior Population
The village was built to cater to the needs of active seniors, but of course, it isn’t exclusively a 55+ community. Younger families and residents also call this place home. Still, older adults aged 65+ comprise over 60% of the entire population. The village’s median age is 69.8. The strong senior community, combined with the numerous social clubs and events, means opportunities to live a more comfortable lifestyle in a supportive community.
The Village’s Residents Are Friendly and Welcoming
Hot Springs Village is often considered one of the most welcoming Southern towns in which to spend your golden years. The residents are warm and friendly, which makes it easy to blend in and feel at home. Often described as a community that fosters an active lifestyle and outdoor recreation, and with good, welcoming neighbors, it’s the place to retire if you are looking for a positive lifestyle.
It’s a Safe and Secure Environment
The close-knit community and friendly atmosphere contribute to a safe environment. And being a gated community, it’s no surprise that it’s among the safest places you can retire to in Arkansas. In addition to the gates being monitored 24 hours a day, the village boasts its own police and fire departments that respond to both emergency and non-emergency concerns, ensuring the safety and security of the residents. This allows older adults to enjoy peace of mind during their golden years.
Seniors Can Choose from a Diverse Range of Housing Options
In addition to affordability, scenic natural surroundings, and high safety levels, this gated community boasts an incredible variety of housing options. Whether you prefer a townhouse, a condo, or waterfront homes with panoramic views and access to activities like fishing and kayaking, there is something for everyone.
It Has a Thriving Entertainment Scene
While primarily known for its scenic surroundings and outdoor recreational opportunities, the village also has an entertainment scene. Ponce de Leon Center is a popular venue with so much going on, from live music to special events. It hosts Woodlands Auditorium, a 650-seat theater that hosts a range of performances from Broadway musicals to drama and dance.
Seniors Won’t Fall Short of Delicious Culinary Choices
Hot Springs Village also offers an incredible culinary scene with diverse dining opportunities. You’ll enjoy numerous delicious restaurants and pubs with impressive menus and inviting atmospheres. Whether you prefer a casual or a fine-dining experience, you’ll never fall short of great options for delicious food. Home plate Café & Bakery and Mulligan’s are some of the top-rated restaurants on TripAdvisor.
