Magazine says Northfield is No. 1 town in the U.S. for retirees

Author:
Updated:
Original:

Northfield, Minnesota, has an unbeatable combo platter to offer retirees: College town perks and a low cost of living.

That's what Money magazine decided as it named the Rice County city the best place overall in the United States to retire.

“This little town 45 minutes south of Minneapolis packs a surprising punch: It’s home to two colleges, an active retiree community, beautiful countryside, and the mix of affordability and economic growth that characterizes much of the Twin Cities region,” Money's story declared.

The study focused on housing prices, taxes on pension income, job opportunities for older workers, potential retiree income, Medicare reimbursements and generosity of Medicaid.

What makes Northfield so special? Its 33 city parks, the presence of St. Olaf College and Carleton College and the city's proximity to world class medical care at the nearby Mayo Clinic were cited as prime advantages. The story noted what it called Northfield's downside, a long and frigid winter and a state income tax that tops out at 9.85 percent.

Northfield has enjoyed other recent honors for its charm and livability. In August, the city was ranked second on the yearly “Top Ten Small Towns” ranking by Livability.com, a website that ranks small and midsize communities for quality of life.

The Star Tribune story on the designation noted that Northfield's "high taxes and low temperatures" did not dissuade the financial publication from putting Northfield atop its list.

Money's runners-up to Northfield were Bellingham, Washington, and Manchester, New Hampshire. Money also acknowledged the top low-cost retirement communities (Bella Vista, Arkansas; Sioux Falls, South Dakota; and Morgantown, West Virginia) and the best place for retirees to pursue an encore career (Iowa City, Iowa; Bozeman, Montana; and Casper, Wyoming).

The magazine relied on a study from the National Institute on Retirement Security, which ranked the 50 states on factors essential to retirees. Near the bottom were Florida, Arizona and other well-known retirement havens. At the top, a mix of mostly Northern states.

Next Up

protest, Daunte Wright

In letter, Hennepin Sheriff asks Brooklyn Center: Do you still want our help?

Dave Hutchinson has asked Mayor Mike Elliott whether the city still needs help from other law enforcement agencies.

Image from iOS (1)

Fatal crash closes eastbound Hwy. 62 in Minneapolis

The closure is expected to be in place for an "extended period of time."

police tape, crime scene

Boy, 15, identified as 1 of 2 killed in shooting after crash in Minneapolis

The shooting happened after two vehicles crashed around 2 a.m. April 12.

White Bear Lake Area High School

Officials: Racist messages in White Bear Lake faked to spotlight issues

The superintendent called them a "hoax" and has since apologized for using that term.

Derek Chauvin

Derek Chauvin will NOT testify, invokes 5th Amendment privilege

If Chauvin did testify, he would have been subject to cross-examination by the prosecution.

Brooklyn Center, protest, Daunte Wright

CNN employee struck in head by water bottle at Brooklyn Center protest

The man was knocked the ground, clearly dazed by the assault.

wolf collar video

Researchers share first-ever collar camera footage from wild wolf

The Voyageurs Wolf Project called it "fascinating," showing that wolves in northern Minnesota clearly know how to hunt fish.

Siren

Reminder: Tornado warning sirens will sound twice today for test

It's part of Severe Weather Awareness Week in Minnesota.

Brooklyn Center police, unrest, Daunte Wright

No tear gas used as police, protesters engage again in Brooklyn Center

Fewer arrests were made Wednesday compared to Tuesday.

protest, Daunte Wright, Brooklyn Center

Daunte Wright protests: Police treatment of residents, media in spotlight

There were reports of residents not involved in the protest being detained, and media members being held and forced to show credentials.

Screen Shot 2021-04-14 at 5.09.01 PM

Defense witness: Cause of Floyd's death 'undetermined'

Dr. David Fowler, former Maryland chief medical examiner, said there were a number of possible factors that could have led to George Floyd's death.

Related