Minneapolis, Minnesota, may not seem like an obvious choice for retirement due to its cold, snowy winters. However, the city’s friendly environment, excellent hospital system, beautiful surroundings, and vibrant cultural scene make it one of the best places to spend your golden years, according to new research from WalletHub. For retirees who aren’t quite ready to give up work, Minneapolis also has one of the most elderly-friendly job markets in the country.
The research found that over 22 percent of the city’s working population is over 65. WalletHub ranked 180 US cities across 45 metrics to determine which were the most retiree-friendly. The study looked at factors like cost of living, weather, healthcare quality, and the number of museums and fishing spots.
Minneapolis came in third place, beaten only by Miami and Orlando. One of Minneapolis’ key advantages is its high percentage of jobs that are easy for older residents to perform. Healthcare, retail, and education jobs are among the most common in the city.
Many retired people in Minneapolis may work to stay active or simply to have something to keep them busy. The city is also known for its stunning lakes and extensive urban park system. It also has a thriving restaurant and art scene, with attractions like the Minneapolis Institute of Art, the Walker Art Center, and the Minneapolis Sculpture Garden.
Minneapolis’ retiree-friendly job market
Whether it’s enjoying the city’s parks, cultural events, or outdoor activities, there’s always something for retirees to do,” said WalletHub analyst Chip Lupo. Retirees who prioritize well-being and a fulfilling lifestyle will find the city ideal for their golden years.
Minneapolis also has the sixth-best hospital system among the 180 cities analyzed, with a high number of nursing homes and gerontologists per capita.
The renowned Mayo Clinic in nearby Rochester was once again named one of the best hospitals in the US by U.S. News & World Report. “Access to high-quality medical care is essential for retirees, and the city’s excellent health infrastructure offers peace of mind,” Lupo added. While Minneapolis doesn’t rank very high in affordability due to Minnesota’s higher taxes, this doesn’t drive older locals to look for cheaper places.
State Demographer Susan Brower noted that the cost of moving could outweigh any potential tax savings and that only a select group of very high-income people can choose where to live based on taxes. Apart from Minneapolis, the other cities in WalletHub’s top five were all in Florida. This was largely due to the state’s lack of estate, inheritance, or income tax, which is a major benefit for seniors on a fixed income.
Orlando, which topped the list of retirement spots, lived up to its reputation as a senior haven with its many recreational activities, including music venues, fishing facilities, and art galleries. Miami, second on the list, also offers plenty of activities for senior residents, warm weather, and low taxes. Tampa and Fort Lauderdale rounded out the top five, both offering extensive tax breaks and warm weather.
“It’s important to choose wisely when picking where to retire, as many retirees are on a fixed income,” Lupo said. “The best cities for retired people minimize taxes and expenses, provide opportunities for continued paid work if desired, and offer high-quality healthcare along with plenty of recreational activities.”
