Charlottesville's overall cost of living meets the national average, but home prices are above the national average.  Home sales here have slowed just as they have in other parts of the country, but the median home price is still around $320,000.  Charlottesville has its share of distinctive architecture, and many home are large, so this price tends to buy more house (two stories, three to four bedrooms, three baths, 2,000 or more sq. ft. and a large yard) than many retirees are seeking.  To be sure, many of these dwellings are quite nice and run the gamut from newer Craftsman designs to older, restored Colonials, but there are also more modest but very comfortable, ranch-style homes (1,500 sq. feet, two to three bedrooms and two baths) for sale in the mid-$200,000s as well.  Charlottesville also has a good selection of condominiums and town homes; prices for one and two bedroom units start in the mid-$100,000s and go considerably higher for luxury units.

Retirees will find a number of private, gated communities, as well.  Most tend to be higher-end.  Glenmore (434-977-8865) is a tony equestrian enclave (not age-targeted or age-restricted) on land that was once a horse farm adjacent to Thomas Jefferson's home of Monticello.  Home prices start at around $500,000 and reach to about $2 million.   Four Seasons Charlottesville (866-568-4553) is an active adult community with beautiful single-family homes priced from $299,000. 

As would be expected in a college town, apartments are in good supply.  Many complexes attract students but not all.  Woods Edge Senior Apartments (866-885-7994) are for those 55+ and have small units (525 sq. ft. to 780 sq. ft.) for lease from $745 to $891 per month.  Avemore Apartments are a new luxury development with units from 580 sq. ft. to 1,655 sq. ft. and priced from $800 to $1,500 per month.

Within city limits, real estate is taxed at the rate of $1.11 per $100 of a home's assessed value, and homes are assessed at 100%.  Outside of city limits, the tax rate is approximately $.75 per $100 of a home's assessed value.  In town, the annual taxes on a $250,000 home would be $2,775.   On retirement income, taxpayers age 65 and older are eligible for a deduction of $12,000, which may be reduced when annual income exceeds $50,000 (single) or $75,000 (married).  There is a 4.5% sales tax. 

This is a city proud of its historical significance and works to preserve its past.   Indeed, one of the high points of Charlottesville is the thriving Historic Downtown Mall where more than 150 restaurants, bookstores, boutiques, coffeeshops and pubs, many housed in vintage buildings, create a delightful gathering spot.   In 2007, Charlottesville was even named by the National Trust for Historic Preservation as a Dozen Distinctive Destination, an annual list of unique and lovingly preserved communities in the United States.

For American history buffs, there may not be a better place to retire (maybe except for Boston).  Thomas Jefferson casts a long shadow here, and retirees can walk in his footsteps as they stroll the lovely University of Virginia campus, considered to be one of the country's top public universities, and tour his wonderful home, Monticello, built on a hill just two miles southeast of town.  Also worth a visit and not far from Monticello is 535-acre Ash Lawn-Highland, the estate of President James Monroe.  Montpelier (currently being restored), the 2,650-acre ancestral home of President James Madison and his wife Dolly, is several miles outside of town and should not be missed.

Charlottesville, Virginia, Continued....

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