Getting the most out of your life and your money is something people seek to do throughout their lives, whether they are in their 20s or 70s. If you're thinking about making retirement plans in Iowa and want to weigh the pros and the cons, here are four facts that you might put in the positives column.
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- The Housing is Affordable Here - The biggest benefit Iowa has to offer retirees is affordable housing. Statistically speaking, housing costs about 12 percent less here than the national average. The average listing price for a single-family home in Iowa is $174,101, according to Trulia. In a place like Iowa City, where the median home price is $172,700, the cost of living is 4.2 percent below the national average, Forbes magazine says. Although prices are rising when it comes to housing, Iowa still has homes retirees can afford.
- Its College Towns Rank High as Places to Retire - College seniors aren't the only ones who like towns like Ames. Older seniors like it, too. Forbes magazine ranked Ames as one of "The 25 Best Places to Retire in 2013." Forbes gave the home of Iowa State high marks for college town ambiance, good air, reasonable cost of living, and affordable home price – and negatives for its cold winters and lousy state tax climate. Financial news site MarketWatch's SmartMoney says Decorah is a great place to retire. Decorah is home to Luther College, a liberal arts Lutheran school, and draws retirees for its small-town feel, low cost of living, and cultural offerings. Iowa City, home to the University of Iowa, also gets high marks. It made Forbes magazine's "25 Best Places for a Working Retirement." A 3.8 percent unemployment rate and its job growth make it appealing to those looking for a second career.
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- 'Livable' Cities Might Have a Little Snow - When AARP magazine named its "30 Most Livable Cities" in April 2015, Cedar Rapids came in at No. 7 for medium population towns (population 100,000 to 500,000). AARP editors liked that people are turning empty lots in struggling neighborhoods into vegetable gardens. For smaller towns, AARP chose Marion as No. 9 on the list for its vibrant uptown and burst of development.
- There's the Happiness Factor to Consider - There's not just "Iowa nice" folks in the Hawkeye State. There's also "Iowa happy" that could add to the plus side of retiring here. CNNMoney says Iowa ranks No. 6 in its list of "10 best states to retire in." It quoted Bankrate's study, finding Iowa has outstanding healthcare "and residents are some of the happiest in the country."
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