Retire in Fairhope

Affordability

Find out how much it costs to live in Fairhope.

Cost of Living

Kiplinger Rating:

Tax Friendly

State Income Tax:

2-5%

Social Security Tax?

None

County + State Sales Tax

9%

Property Tax Rate *

0.3%

Property Tax Ranking (County Property Tax rank out of 2,773, higher rank=lower rate) *

2733

* 2008-2010

Cost of Living Index (100=average):

91.9

Housing + transportation costs as % of income:

55%

Tax Details

State Sales Tax Breaks for Seniors:

None

Pensions Taxed?

Mixed

Tax burden: % income going to state and local taxes:

8.7%

Inheritance and estate taxes (per Kiplinger):

None

Taxing of other retirement income (per Kiplinger):

Mixed

Property Tax Break for Seniors (per Kiplinger):

Homeowners 65 and older are exempt from all state property taxes. Some cities assess separate property taxes. Seniors age 65 and older with taxable income of $12,000 or less on their federal return may qualify for an exemption from county and city taxes with no maximum amount. Seniors age 65 and older with taxable income of more than $12,000 on their federal return but less than $12,000 adjusted gross income on their state return qualify for an exemption of $5,000 of assessed value from their county taxes. Seniors who don't meet the above income limitations may qualify for a county homestead exemption worth no more than $2,000.

 

For more detailed tax information from Kiplinger, visit www.kiplinger.com/tool/retirement/T055-S001-state-by-state-guide-to-taxes-on-retirees/

Real Estate

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Work Potential

  • Area
  • National Average

5 Largest Companies

  • Baldwin County Board of Education
  • Wal-­Mart Super Centers
  • Thomas Hospital
  • UTC Aerospace Systems
  • South Baldwin Regional Medical Center

GDP Growth Last 3 Years

12.7%

Income Growth Last 3 Years

9.7%

Employment Growth Last 3 Years

8.3%

Top Industries Hiring

  • Health care and social assistance
  • Retail trade
  • Accommodation and food services
  • Other services (except public administration)
  • Manufacturing

Breakdown Fulltime vs Part Time over 65 (%)

  • Part Time over 65
  • Full Time Over 65

Occupation Breakdown (%)

  • Management, Business, Science & Arts (MBSA)
  • Natural Resources, Contruction & Maintenance (NRCM)
  • Production, Transportation, Materials & Moving (PTMM)
  • Sales & Office (S&O)
  • Service

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