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                    Vol IV      Issue 45                                           December 3, 2009

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Below Average Cost-of-Living

Average Cost-of-Living

Above Average Cost-of-Living

International Retirement Spots

 

 

Real Estate for Retirement

 

 

Active Adult Living

 

 

Master Planned Retirement Development

 

 

 

Deep in the Shenandoah Valley, Quaint Lexington, Virginia is Steeped in History and Boasts Traditional Values, a Scenic Locale and a Low Crime Rate

Cost of Living:  Above the National Average

Nestled in the inspiring natural beauty of the Shenandoah Valley of western Virginia, Lexington (population 7,000) is a quaint, quiet burg steeped in history and tradition.   Settled in 1777, it is home to the prestigious Virginia Military Institute (VMI), established in 1839, and the highly regarded liberal arts college of Washington and Lee, established in 1749.  The entire downtown is listed on the State and National Registers of Historic Places, and General Robert E. Lee and General "Stonewall" Jackson are buried here.    Although Lexington is a bit isolated geographically, Civil War buffs and other tourists wander into town, and the two colleges give it a vitality not always present in small southern communities.  Of the population, 17% is age 45 to 64, and 16% is age 65 or better. 
 

 

 

While not booming, Lexington is growing slightly and holding its own in these difficult economic times.  The cost of living is approximately 5% above the national average, and the median home price is $250,000.  A variety of residential architectural styles includes bungalow, Craftsman, Cape Cod, Colonial Revival and Victorian, as well as more the common ranch-style and split-level.   There are also some town homes available.  Outside of town limits, the norm is horse farms and homes with acreage (and a restored barn here and there).

Real estate is taxed at the rate of $.65 per $100 of a home's assessed value, and homes are assessed at 100%.    When it comes to 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).  Social Security is not taxed.  The sales tax rate is 6%. 

 

Lexington thrives on its military heritage and has numerous museums and historic sites in and around town.  The completely restored "Stonewall" Jackson house is a museum, and the Hunter's Raid Civil War Trail documents a Union general's 1864 raid through the Shenandoah Valley, including the burning of VMI after its cadets had earlier distinguished themselves in the Battle of New Market.  The VMI Museum traces the history of the country's oldest state-supported military college, and the nearly hidden Museum of Military Memorabilia showcases uniforms worn by militaries around the world.  The "Stonewall" Jackson Memorial Cemetery, surrounding the old Lexington Presbyterian Church on South Main Street, is a fascinating trip back in time and holds the remains of Revolutionary War veterans, 144 Confederate soldiers and General Jackson.  And the VMI Corps of Cadets marching in formation each Friday afternoon is a stirring site.  

 Lexington, Virginia


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This is an interactive map.  Click on the arrows in the upper left hand corner to move the map to the East, West, North or South, and click on the +/- signs to zoom in and out.

While military culture is at its core, Lexington also boasts a low-key, NCAA-sanctioned baseball team (the Rockbridge Rapids), an 18-hole golf course (the Lexington Golf and Country Club), a YMCA , two farmers' markets and a couple of tasty wineries within twenty minutes of town.   Each year, the Lenfest Center for the Performing Arts on the campus of Washington and Lee University presents 125+ public performances, including plays, ballet and opera.    The sprawling Virginia Horse Center, just outside of town, is the center of Virginia's horse industry and presents more than 100 events a year, everything from dressage competitions to rodeos to music jams.  

Lexington, Virginia, Continued....


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