8 Most Affordable Cities to Retire in Kentucky

Kentucky is bordered by rivers except for its southern border and is an eastern south-central state of the US. There are five major regions in Kentucky, each with a different terrain, sociocultural history, and dominant industries. The state is full of rich waterways, including the Mississippi, Ohio and Big Sandy Rivers. With two national forests, 45 state parks and 82 wildlife management areas, Kentucky is an outstate with significant natural beauty to explore. Kentucky is known for its coal, bourbon and the Kentucky Derby, but it is also a major agricultural state.

Kentucky is the 26th most populous state in the US and is home to many affordable cities, making the communities excellent choices for retirement.

Covington

Covington, Kentucky’s fifth largest city with just under 41,000 residents, is a larger city in Kentucky. The cost of living in Covington is 10% below the national average, with average home prices around $120,000 (according to Economic Research Institute). Covington has Saint Elizabeth Covington Hospital, along with some friendly neighborhoods. Roebling Point is located along the river and is full of eclectic shops and restaurants.

Listed on the National Register of Historic Places, Mainstrasse Village is the city’s artistic center with institutions such as the Creative House of Art and Design. Downtown Covington, also known as the Madison District, has the Braxton Brewing Company, several hotels and restaurants. Covington is a vibrant community that is easily accessible to Cincinnati, making it an ideal place to retire.

Georgetown

The cost of living in Georgetown is 13% below the national average, with homes costing an average of $176,000, meaning it’s an affordable option for retirees. Its population is 37,500 and it is also conveniently home to Georgetown Community Hospital. Known as Kentucky’s “Horse Headquarters,” Georgetown is an eclectic Kentucky city that prides itself on being the birthplace of bourbon.

Georgetown is home to the Georgetown Scott County Museum and the Old Friends Thoroughbred Farm. The historic downtown area is walkable and lined with art galleries, restaurants, and boutique shops, such as the Georgetown Gallery and the Central Purrk Cat Cafe, making it an accessible and exciting retirement destination.

Florence

Home to the World of Golf, the Vent Haven Museum, and the Florence Y’all baseball diamond, there is plenty of recreation available in this small community. This city of 32,000 residents has an average cost of living that is 11% cheaper than the national average, with the average home costing $155,000. Florence has St. Elizabeth Florence Hospital, which provides easy access to healthcare.

The Deanna and Hugh Skees Senior Activity Center provides recreational, educational and practical support to Florence’s senior community. The center offers a full calendar of social, creative and active activities, including art classes, chair volleyball and bridge lessons.

Elizabethtown

The cost of living in Elizabethtown is 17% lower than the national average, with homes costing an average of $175,000, meaning it is an affordable retirement option. The city of nearly 32,000 residents is home to Baptist Health Hardin Hospital. Located on Freeman Lake, Elizabethtown is dotted with trails and parks, including Elizabethtown Nature Park and the Boy Scout Trail, ideal for retirees who want to stay active.

Elizabethtown also has the Hardin County History and Swope’s Cars of Yesteryear museums. The Aging and Disability Resource Center provides education and resources to help members access home care, short/long-term care, meal support and care while living in the community.

Jeffersontown

This community, with a population of just under 30,000, has an average cost of living that is 3% below the national average, with homes costing an average of about $187,000. Jeffersontown is a beautiful green city with several natural parks and waterways, including the Floyds Fork, Charlie Vettiner Park and Papa Johns Park Waterfall.

Although Jeffersontown does not have a hospital, the senior center offers 15,000 square feet of recreational and community space. The center also organizes day trips to nearby attractions, as well as longer trips abroad, allowing retirees to stay connected around the world. The UofL Health Hospital is just a short drive away in nearby Lousiville, where you can access healthcare.

Independence

Even though Independence is small, it is the 99^e fastest growing community in the US Located just 18 miles from Cincinnati, Independence is well connected to big city services, with the peace and comfort that comes with living in a smaller town. With a population of nearly 29,000, Independence’s cost of living is 13% lower than the national average, with homes costing an average of $180,000.

Open to residents age 50 and older, Independence Senior and Community Center hosts weekly events, monthly discounted massages and a robust gathering space. Located near Doe Run Lake, Independence is full of parks and golf courses, including Kenton County Golf Courses and Richardson Road Park.

Put on Washington

Mount Washington’s population is just under 18,000 residents. The cost of living is 4% lower than the national average, with homes costing an average of $182,000. Mount Washington has several independent and assisted living communities for seniors, as well as the Mt. Washington Senior Center.

Mount Washington is a sporty city, with recreational areas such as the Mt. Washington Sports Complex, City Park and the Frank Cornell Flying Field, among several other indoor and outdoor facilities to keep retirement exciting while being close to home, including the nearby Bernheim Arboretum and Research Forest. Although Mount Washington does not have its own hospital, there are several hospitals and specialty care facilities within a half-hour drive in Louisville.

Bardstown

Despite its small size, Bardstown is rich in history and culture. A bourbon town, Bardstown is proud of its distilling craft and has seven distilleries. With just under 14,000 residents, the cost of living in Bardstown is 14% lower than the national average, with the average home costing $134,000, making it an affordable option for retirees. For healthcare, Bardstown has Flaglet Memorial Hospital.

Top attractions include the My Old Kentucky Home Museum, the Oscar Getz Museum of Bourbon History, the Women’s Civil War Museum, and the Old Bardstown Village to explore. The Bardstown Senior Center hosts meals and events and provides space for the city’s senior community.

Whether you want to settle near a major city or are looking for a quiet town surrounded by nature, Kentucky has a variety of affordable communities to consider. The excellent geographical location ensures warm and humid summers with cool winters. Most cities in Kentucky experience a true four-season climate without the extended winters that states further north experience. With its robust senior living communities and supports, diverse cultural centers, and rich history, Kentucky is a great state to call home in retirement.