This article takes a look at the 5 best places to retire in Minnesota. If you wish to read our detailed analysis on navigating retirement living in the US, you may go to 15 Best Places to Retire in Minnesota.
5. Northfield
Insider Monkey Score: 79
Livability: 83
Cost of Living Index: 89
Median House Price: $322,500
Mainly located in Rice County, a small area of Northfield lies in Dakota County, making it yet another dual-county city on our list. The city is welcoming to retirees living on a Social Security income as well as those who want to spend on the finer things such as luxurious food, travel, or even domestic help. Residents can visit the Northfield Historical Society Museum, the Northfield Arts Guild Art Center, and the Crowling Arboretum.
4. Winona
Insider Monkey Score: 86
Livability: 80
Cost of Living Index: 83
Median House Price: $215,840
Located in a county of the same name, the city of Winona takes the next spot on our list. With a reasonable cost of living, a low median house price, and a high livability score, the city checks all the boxes. Winona offers residents stunning water views courtesy of the Mississippi River and the accompanying geography. Residents of the city can visit the Minnesota Marine Art Museum, Levee Park, and the St Stanislaus Basilica.
3. St. Cloud
Insider Monkey Score: 90
Livability: 83
Cost of Living Index: 91.7
Median House Price: $215,000
St. Cloud is one of the larger cities on our list with a population of just under 70,000 at the time of the last United States Census. Most famous for its quarries rich with granite, St. Cloud is set in Minnesota’s agricultural area which means that residents can enjoy fresh dairy, produce, and poultry. Residents can also keep themselves busy with the city’s many activity outlets – including shopping centers, a hockey arena, and breweries.
2. New Ulm
Insider Monkey Score: 97
Livability: 82
Cost of Living Index: 77.8
Median House Price: $230,000
Rounding off our top two pick is the Brown County city of New Ulm. New Ulm is a college town by way of Martin Luther College, and residents can enjoy the city’s many perks – including a low cost of living. Residents can visit the August Schell Brewing Co, Flandrau State Park, and the Brown County Historical Society Museum.
1. Fergus Falls
Insider Monkey Score: 100
Livability: 82
Cost of Living Index: 84.4
Median House Price: $169,900
Our pick for the best places to retire in Minnesota is the city of Fergus Falls. Located in Otter Tail County, the city is known for its many nature offerings, including the Otter Tail River, several lakes, and an expansive countryside. Residents can keep themselves occupied with outdoor activities such as biking, boating, fishing, bird-watching, and hunting. The cherry on top is Fergus Falls’ low cost of living which makes managing finances during retirement that much easier.
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 15 Fastest Growing Cities in Tennessee and 15 Fastest Declining Countries in Asia.
