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Thursday, June 20, 2024

This Pandemic Boom Town Emerges as a Surprisingly Ideal Retirement Destination

Spokane, Washington has emerged as an attractive retirement destination due to several factors:

Affordable Cost of Living

Despite a recent surge in housing prices, Spokane still offers a relatively affordable cost of living compared to many other cities. It has no state income tax (except on certain capital gains) and reasonable housing costs, making it appealing for retirees on a fixed income.

Natural Beauty and Outdoor Recreation

Spokane’s scenic location near the Spokane River and proximity to outdoor recreational opportunities like hiking, fishing, and skiing contribute to its appeal as a retirement spot.

Adequate Healthcare

The city has an abundance of primary care doctors, an important consideration for retirees.

Revitalized Downtown

Spokane has undergone significant revitalization, with old buildings repurposed into boutique shopping centers, food halls, and mixed-use urban districts, offering amenities for an active retirement lifestyle.

Challenges

However, Spokane faces some challenges that may temper its appeal, including a higher-than-average crime rate, cold winters, a state estate tax, and a need for more housing at various income levels to accommodate the influx of new residents. Local leaders are working to address these issues.

The city’s growth has been fueled in part by retirees like Bruce and Keri Munholand, a retired Army couple who moved to Spokane in 2021 and now operate a gourmet coffee van business catering to the city’s coffee culture.┬áTheir story exemplifies how Spokane has attracted retirees seeking an affordable, scenic location with opportunities for an active post-retirement life.

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