The median home price in Columbia is $168,000, well below the current national average.  That housing is reasonably-priced adds to the affordability of retirement here; in fact, the overall cost-of-living is 9% lower than the national average.  Groceries are 8% below the national average, and health care is 10% below.  Housing is readily available and includes single-family homes, condominiums, town homes, apartments and manufactured homes.  Lovely, 3 bedroom, 2 bath homes in newer subdivisions are selling for less than $175,000.  Smaller, modest (900 square feet) but well-maintained homes in older neighborhoods are selling for $50,000- $60,000.   Brand new, brick homes with 2,500 square feet, cathedral ceilings, granite countertops and marble foyers are available in the $285,000 range.

Columbia has a fair number of apartment complexes, but many of these seem marketed to the student population and are not very available.  Rents for apartments that are on the market, though, average around $625 per month for one bedroom units and around $685 per month for two bedroom units.  Terrace Retirement Apartments (573.875.2538) are a different story and are targeted to older residents.  This complex is an independent living community with studio apartments, one bedroom and two bedroom apartments for those 55 years and better.  Rents run from $1,225 per month to $2,205 per month (for singles; additional fees apply for a second resident) and include two meals a day, weekly housekeeping, utilities (except phone), scheduled transportation, 24-hour management staff, on-site laundry and scheduled activities (but no on-site medical facilities or care).  

TigerPlace (573.526.4620) is a new continuing care community with a nurse on-call 24 hours a day.  It was developed in collaboration with the University of Missouri and the Sinclair School of Nursing.

There are 35 mobile home/manufactured home park communities in Columbia, at least one of which, Mathis Mobile Home Park, caters to the 55+ crowd.

When it comes to property taxes, residents pay $6.32 per $100 assessed value, and property is assessed at 19% of fair market value.   The taxes on a $125,000 house would be $1,500 per year.   The Missouri Property Tax Credit Claim gives credit to certain senior citizens for a portion of the real estate taxes they have paid for the year.  The credit is for a maximum of $750 and can only be claimed on the home a senior occupied during the period being claimed.  The actual credit is based on the amount of real estate taxes or rent paid and total household income.  The Homestead Preservation Credit gives qualified senior citizens a credit on their real estate property tax if those taxes increase 2.5% in a non-reassessment year or 5% in a reassessment year.  Retirement income is not exempt from Missouri state income tax, but there is a $6,000 exemption for single people and $12,000 for married couples.  The sales tax in Columbia is 7.35%, and overall, Missouri has the 9th lowest tax burden of all 50 states.

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