Home               Vol IV    Issue 26         July 10, 2009            Previous Issues


 Leisurely Lynchburg, Virginia Provides a Low-Cost Retirement in a Safe and Scenic Spot

Cost of Living: Below the National Average

 

International Retirement Spots

 

 

Active Retirement

 

 

Real Estate for Retirement

 

 

Active Adult

 

 

Master Planned Communities

 

Retirees seeking an affordable small city in the eastern half of the U.S. may want to consider Lynchburg (population 73,000), a pretty spot located amid rolling hills along the banks of the James River in the central section of the Commonwealth of Virginia (180 miles southwest of Washington, D.C.).   Housing is affordable; the streets are safe; the downtown is quaint, and the hazy Blue Ridge Mountains beckon in the distance.   Founded in 1757 and named after John Lynch, this mellow city makes many Top 10 lists of places to live, and retirees are discovering it, too.  Of the population, 21% is age 45 to 64, and 16% is age 65 or better.

 

Lynchburg's cost-of-living is roughly 15% below the national average, and the median home price is $150,000.   Throughout various neighborhoods, examples of Italian Renaissance, Federal, Georgian, Jeffersonian, Queen Anne and Colonial architectural styles can be found, although many homes are simply single-story red brick.  The median price of $150,000 will purchase a newer, 2,200 square foot home with four bedrooms, two and a half baths and a two car garage in a solid middle income neighborhood.  Bungalows and doll houses (800 square feet) in quiet, shady neighborhoods can be found for $85,000.   Magnificent, stately, brick Federalist-style residences with four bedrooms, three baths and 3,000 square feet are for sale in the $300,000 range.  Housing dollars go a long way in Lynchburg.  

 

Real estate taxes are $1.11 per $100 of a home's assessed value; homes are assessed at 100%.  The annual taxes on a $150,000 home would be $1,665.  When it comes to retirement taxes, depending on income, taxpayers age 65 and older are eligible for a $12,000 deduction and Social Security is not taxed.

Once home to Thomas Jefferson (he built his delightful retreat Poplar Forest here), Lynchburg also at one time gained a rowdy reputation because of its lack of churches (this situation has since been rectified).  It once served as the capital of Virginia and once was one of the nation's wealthiest cities.  Today, it has a welcoming small town ambiance and enough restaurants, shopping venues and libraries to meet most needs; the population is primarily blue-collar; the people are friendly; the neighborhoods are eclectic.  Lynchburg is often referred to as "Hill City," and with good reason.   Walking and bicycling here can be strenuous.   Luckily, there is a public bus system (GLTC); those 65 and better ride for $.75.

Three colleges, Lynchburg College, Sweet Briar and Liberty University, make their home in Lynchburg but do not overwhelm the city (Liberty, founded by televangelist Jerry Falwell, is the largest of the three with 18,000 students).   The city is growing (but not booming) and has a strong, locally-based economy with J. Crew, Genworth Financial, R.R. Donnelley and C.B. Fleet based here.   The cute downtown has shops and coffeehouses nestled along tree-lined streets; in fact, for its efforts to revitalize its downtown, the city won a Great American Main Street Award from the National Trust for Historic Preservation in 2006.   Downtown's distinctive Monument Terrace, stretching up a hill from Church Street to Court Street, uses the landings of its139 steps to commemorate the Lynchburg citizens who fought and died in the Civil War, Spanish American War, World Wars I and II, Korea and Vietnam and is rather inspiring.   There is a lovely River Walk path along the James River not far from downtown, and 56-acre Percival's Island Natural Area is a popular park right in the middle of the River.

 

Lynchburg, 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 (more than once if necessary) the +/- signs to zoom in and out.

For a small city, there is quite a bit to see and visit.  Appomattox Courthouse, where General Robert E. Lee surrendered to General Ulysses S. Grant in 1865, is a must for any history buff and is a few miles outside of town.  The Old City Cemetery has an extensive section of Confederate graves and an interesting, if somewhat gruesome, medical museum.  Booker T. Washington's birthplace, with a recreated farm and slave cabin, is worth a visit.  The Natural Bridge, a 215-foot natural stone arch bought by Thomas Jefferson from King George in 1774, is a fun excursion.   And, of course, the surrounding Blue Ridge Mountains and the drive along the Blue Ridge Parkway, particularly in the spring and autumn, are beautiful.  Nestled in those mountains, too, are numerous wineries and vineyards, always worth a visit!   Lynchburg College and Liberty University both have sports teams, and the Lynchburg Hillcats are the Class High-A professional baseball team in the Carolina League; they are a farm team for the Pittsburgh Pirates.

Lynchburg, Virginia, Continued....


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