Consultant Hours
  • Mon - Fri: 5:00 AM - 9:00 PM PT
  • Sat - Sun: 5:00 AM - 5:30 PM PT

How Much Does It Cost to Retire in St. Louis, MO?

Retiring in St. Louis may be more affordable than you might think. St. Louis is the choice that many seniors with friends and family in the area, make. The cost of living in St. Louis is lower than a lot of major cities. No matter what your budget is, there are a lot of fun things to do and great people to meet in the area.

Basic Rent And Utility Cost Considerations

Just what do you need to be happy in the long term? Many seniors realize that a larger space is more than they need and simply not worth the cost. In fact, getting a roommate at a retirement home can cut costs by thousands of dollars per year. If you like having some company anyway and don't have a spouse or partner moving in with you, communities can help you find a roommate that is suitable for your life style needs.

One bedroom apartments in St. Louis rent for $887 and two bedroom apartment rents average $1153. This means if you have a roommate, you could enjoy an average rent of less than $600 per person per month.

Purchasing a home has a median price of $104,100. This price is not expected to rise rapidly at this time as the housing market has been cool. This means you can pick up some fantastic deals.

Getting Around Town

Just because a price for rent in an assisted living or retirement community seems like a good deal doesn't mean you should not look at your overall options. While one community may include little in the way of transportation services, another may provide full transportation included in the price.

Many seniors choose to use public transportation for when they want to get out on the town for some fun or volunteer with a charitable organization. Your transportation needs is something to consider when pricing retirement communities. With seniors being eligible for half price fare on city buses, it is inexpensive to travel within the city.

Health Care

If you have certain medical conditions, you may want to be closer to some major medical services. If you just have a few appointments here and there, then you might not care as much. Transportation to medical appointments is included with rent at some retirement communities.

The cost of your health care is going to depend on what resources you have at your disposal such as private health insurance coverage, veteran's benefits, health savings accounts, and Medicare coverage. Some company pension plans may include some benefit as well. You should go through and add up the type of overall coverage you can expect, so you can plan better.

Free Time Fillers

Retiring can mean that you have more free time to do things you always wanted to do. You may decide that you want to volunteer with a nonprofit or start taking classes at the community college. Perhaps it has always been your dream to learn how to paint. Now is the time to take charge and enjoy something that is just for you.

Learn more about St. Louis Retirement Planning here:

What's the Cost of Living in St. Louis, MO?

St. Louis Financial Advisors

St. Louis Elder Law Attorneys

St. Louis Senior Realtors

St. Louis Senior Movers and Downsizers

St. Louis Neighborhood Guide

Live Like a Local in St. Louis

St. Louis Demographics and Lifestyle

Find assisted living in St. Louis near you.