Minnesota offers several affordable retirement options, including life in small towns, rustic environments and big cities. Determining what is affordable for retirement in Minnesota is not a black-and-white decision. Retirees must assess their needs for housing, entertainment, health care, transportation, and even employment. When you know what you need, you can get what suits you best.
Overall, retirement in Minnesota involves many months of cold weather each year. For retirees who can manage the cold and snow, rewards come in friendly neighbors, great healthcare, and stimulating culture,
according to TopRetirements.com.
Here are some of Minnesota’s most livable and affordable towns.
Free Retirement Calculator: When Can You Retire? — Click Here to Find Out
St. Michael
Offering a small-town feel with quick access to St. Cloud and Minneapolis, St. Michael is moderately priced compared with other Minnesota communities.
Motovo Real Estate listed this city among the top 10 places to live in Minnesota. Living in St. Michael provides opportunities to enjoy Minnesota’s many recreational areas. The northern part of the state is filled with outdoor activity centers, and the community celebrates St. Michael’s Daze every year.
Rochester
The world’s largest nonprofit medical center is located in Rochester. The Mayo Clinic offers advanced, specialized services in many medical disciplines, which is a big draw for people considering retirement in Minnesota. The town’s modest cost of housing
placed it on Livability’s list of “Best Affordable Places to Live in the United States.” Rochester has an active arts community, and most services are modestly priced.
Alexandria
Alexandria lies along Highway 94 and is the county seat of Douglas County. Located between Minneapolis and Fargo, North Dakota, Alexandria residents enjoy the Central Lakes State Trial, a 55-mile long recreational haven. This is one of the most affordable cities in the state.
North Mankato
The city has lower housing prices than elsewhere in the state, and the city helps buyers finance homes through a partnership with the Minnesota Housing Finance Agency. The city manages several parks and recreational facilities for the enjoyment of its citizens.
VOTE NOW: Is Minnesota Gov. Mark Dayton Doing a Good Job?
Twin Cities of Minneapolis and St. Paul
The twin cities offer many amenities to residents, but housing is a bit above the national average. The cities are still considered very affordable, if you consider what you get for you dollars. Neighborhoods throughout the area differ greatly, so investigate carefully to determine what fits your lifestyle.
© 2026 Newsmax. All rights reserved.