This article takes a look at the 5 best places in Minnesota for a couple to live on only Social Security. If you wish to read our detailed analysis on Social Security retirement living in the US, you may go to 15 Best Places in Minnesota for a Couple to Live on Only Social Security.
5. Northfield
Insider Monkey Score: 73
Livability: 83
IM Cost of Living Index: 90
Starting off our top five selection is the dual-county city of Northfield. Located in Rice and Dakota counties, Northfield is known for its events-driven community calendar. Residents can partake in the Defeat of Jesse James Days event in September of each year, the Crazy Daze festival, and the holiday special event Winter Walk. An added benefit to the place is its low cost of living – a whole 10% lower than the national average.
4. Hutchinson
Insider Monkey Score: 75
Livability: 78
IM Cost of Living Index: 83.2
Located in McLeod County, Hutchinson is the county’s largest city. With a cost of living that is 16.8% lower than the national average and a low average rental figure of $875, the city is financially accommodating to retired couples surviving on Social Security incomes. Hutchinson is best known for its leisure attractions with some of the best being the Crow River Winery, The Lamb Shoppe & Wellness Center food store, and Main Street Sports Bar.
3. Winona
Insider Monkey Score: 83
Livability: 80
IM Cost of Living Index: 83.4
The city of Winona is next up on our list. Famously known as the ‘Stained Glass Capital of the United States’, Winona offers residents access to a mix of indoor and outdoor activities. The city also has a hospital, several restaurants, and grocery stores including a Walmart Supercenter.
2. St. Cloud
Insider Monkey Score: 90
Livability: 83
IM Cost of Living Index: 88
Rounding off our top two pick is none other than the Stearns County city of St. Cloud. With average rent below the $800 figure and cost of living 12% below the national average, the city is well suited to retired couples making a living on Social Security incomes. Best known for its granite quarries, St. Cloud is home to many gardens and parks.
1. Fergus Falls
Insider Monkey Score: 92
Livability: 82
IM Cost of Living Index: 84.4
Our top pick for the best places in Minnesota for a couple to live on only Social Security is the city of Fergus Falls. Located in Otter Tail County, the city had a population of less than 15,000 at the time of the last United States Census. With easy access to nature, Fergus Falls is the ideal pick for senior citizens who want to spend their retirement period in the great outdoors. Residents can partake in a number of outdoor activities, including biking, hiking, boating, and fishing to spend their days.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also take a peek at 20 Countries with the Largest Slum Population in the World and 20 Most Powerful Countries Ruling the World in 2050.
