10 Of The Best Affordable Towns To Retire In Minnesota
Minnesota is a fascinating state, where entire days can be spent exploring remote wilderness areas surrounded by lakes and teeming with wildlife. Nicknamed the Land of 10,000 Lakes for hosting over 11,800 lakes covering at least 10 acres each, it is indeed a place to connect with nature, which is just one reason why it is a paradise for retirement.
Beyond the natural allure, Minnesota is easy on the pocket, even for aspiring homeowners, with an average home value of $315,907. Besides, even far lower costs can be enjoyed in the state’s small towns, such as Austin and Monticello. Plus, these towns promise active lifestyles with some encircled by trails for hiking, biking, and skiing, while others boast rare lake beaches that rival some beaches on the Atlantic and Gulf coasts. Enjoy retirement to the fullest without breaking the bank in these towns in Minnesota.
Willmar
Willmar is not just one of Minnesota’s best affordable towns, but an exciting place to retire for lovers of nature and an active lifestyle. This town is the proud home of the Glacial Lakes State Trail, a wheel-chair accessible path stretching 22 miles through gorgeous landscapes. Retirees will absolutely enjoy biking on this paved trail as it winds through several charming communities, beautiful farmlands, grass fields, prairie, and deciduous forests, where wildlife such as white-tailed deer are often spotted.
The town’s Robbins Island Regional Park will be another beloved spot for retirees, as it boasts a swimming beach and access to Willmar Lake and Foot Lake for fishing and boating. The park also features picnic facilities, trails winding through forested areas, and an 18-hole disc golf course. For lovers of performing arts, the Barn Theatre at the heart of Willmar hosts a few shows annually that showcase community talents. Moreover, the town is full of cozy local establishments, including the McMillan’s Family Restaurant, which offers classic American fare and breakfast favorites in a warm, welcoming atmosphere. And for prospective homeowners, Willmar’s housing market is reasonable, with an average home value of $233,565
Austin
Located in southeastern Minnesota, Austin is among the most affordable places to live and retire in the US, with an average home value currently at $181,056, bringing the homeownership dream closer to many. This comes against the backdrop of the town’s peaceful atmosphere and highly sought-after attractions, one of which is the SPAM Museum and Visitor Center.
History-loving retirees will appreciate living close to this admission-free museum, which is dedicated to the history of the Hormel Foods Corporation and its SPAM brand. In addition to its interactive exhibits and multiple galleries, the museum complex features a shop with hundreds of items and gifts, games, and videos.
For those who enjoy nature and the outdoors, the Jay C. Hormel Nature Center is a delightful spot in town, with over 500 acres of forests, wetlands, and prairie, all teeming with wildlife, such as white-tailed deer and mink. Over 10 miles of hiking and cross-country skiing trails offer access to the varying habitats, plus the preserve boasts an observation tower and an interpretive center with live exhibits. Meanwhile, Austin is bike-friendly with several exciting trails, including the Schindler’s Way Mountain Bike Trail, which offers a five-mile off-road experience along the Cedar River and through heavily wooded areas.
And besides the attractions, Austin is less than an hour from Rochester, one of the state’s largest cities, where top-notch facilities can be found, including the highly-rated Mayo Clinic Hospital, which provides quality services ranging from cancer care to heart and vascular surgery, among others.
Mankato
One of the larger towns in Minnesota, Mankato, is a budget-friendly town to retire in and enjoy some of the state’s most sought-after facilities and attractions. To begin, Mankato is home to River Hills Mall, one of the premier shopping centers in southern Minnesota, featuring everything from specialty stores, national retailers, and restaurants to ATMs and more.
Meanwhile, retirees have the Children’s Museum of Southern Minnesota to take the grandkids now and then. This museum offers several exciting attractions to delight the little ones and stimulate the mind, from agriculture-themed activities to a climbing tree fort and a butterfly exhibit, among others. And for outdoor lovers, Mankato is full of parks, with Minneopa State Park being the most notable. Covering an area of over 4,600 acres, this park is defined by waterfalls on Minneopa Creek, stunning geological formations, and an abundance of wildlife, including songbirds, beaver, white-tailed deer, and bison. The park boasts dozens of developed campsites, a historic windmill, and around five miles of trails.
Speaking of trails, Mankato is home to many, including the paved Red Jacket Trail, which offers a thrilling six-mile hiking and biking adventure through woodlands and meadows. Despite all of these incredible features, the average home value of Mankato is $294,116, significantly lower than the state average.
Owatonna
Owatonna is a tight-knit community on the Cannon and Straight rivers, and an excellent place to retire in Minnesota. For budget retirees, especially, this town is easy on the pocket, with an average home value of approximately $286,730. Owatonna also boasts one of the state’s lowest crime rates and is the proud home of the Steele County Free Fair, the largest county fair in Minnesota. Held in August, retirees will appreciate being around this week-long admission-free fair, which is held in August and features thousands of livestock exhibits, arts, crafts, live music, rides, and a variety of food vendors.
This town also boasts many attractions to keep retirees excited year-round, including numerous parks, one of which is the Mineral Springs Park. This park is beautiful and full of lush trees, alongside facilities such as a disc golf course, picnic benches, and trails for hiking. Just outside the downtown area, Rice Lake State Park is another delightful outdoor spot with a large lake ideal for kayaking and fishing, campsites with electric hookups, five miles of trails, and excellent bird watching opportunities. Back in town, arts enthusiasts will have the Owatonna Arts Center to stroll through and admire sculptures, see changing exhibits, or attend an art class.
Faribault
One of Fairault’s biggest retirement appeals is its affordability, best seen in its housing market, with an average home value of $289,877. But more than that, this town is just 50 miles from Minneapolis, placing top-notch facilities and attractions within easy reach. Retiring here means one will be a mere 50-minute drive from the world-famous Minneapolis-Saint Paul International Airport, and the Minneapolis Institute of Art, one of America’s largest art museums, with over 100,000 artworks spanning 5,000 years.
Back in Faribault, retirees will also find many appealing attractions, from the Depot Bar & Grill, which serves soups, seafood, Mexican food, and more, to 10,000 Drops Craft Distillers, where craft spirits meet a warm atmosphere. Nature lovers will have the River Bend Nature Center to explore interactive exhibits, and hike or bike 10 miles of trails through forests and wetlands full of wildlife. As for golfers, Faribault boasts a few courses, one of which is the Legacy Golf, an 18-hole championship course with gorgeous scenery.
Lake City
A few hundred years ago, prime waterfront locations like Lake City came with higher price tags, in the form of fierce warfare. Today, one can secure a premium abode in this town on Lake Pepin for just $304,931 on average, making it an affordable place to live and retire. Moreover, the town is just peaceful, with a significantly low crime rate, plus it boasts several waterfront attractions that will make retirement pleasant. Ohuta Park is just one such attraction, located near the marina, and featuring one of Minnesota’s best beaches, alongside a river trail, and a large pavilion.
A few miles north of this park, the Hok-Si-La Municipal Park and Campground is another delightful attraction offering even more pleasant features, including a beautiful swimming beach, trails for hiking and biking, lots of birds, and well-equipped campsites and cabins. Beyond the parks, golfers will have several courses to choose from, including the Lake City Golf, a challenging 18-hole course with picturesque greenery. Notably, this course has been open since 1928, making it one of the state’s oldest.
Albert Lea
Albert Lea is a peaceful town in southern Minnesota where retirees on a budget will enjoy an affordable retirement, with one of the lowest home values in the country at $170,380. On top of that, the town is peaceful and naturally beautiful, being surrounded by multiple lakes, including Albert Lea Lake, which is known for its excellent fishing and paddling opportunities. A little outside the downtown area, Myre-Big Island State Park sits on the lake’s shores and promises to be a favorite spot for nature-loving retirees. Covering over 1,500 acres, this park boasts 25 miles of trails, well-equipped campsites, and an abundance of wildlife and incredible bird-watching opportunities.
Meanwhile, at the heart of Albert Lea, Fountain Lake sets the stage for boating and fishing, and is surrounded by exciting waterfront attractions, including Edgewater Park, which boasts a pavilion, picnic facilities, a grill, and a fishing pier, among other facilities. Beyond the lakeside attractions, Albert Lea features the Three Oak Vineyards and Winery, where retirees can relax with award-winning wines or catch an event with beautiful vineyard scenery. Additionally, the town is home to several highly rated food establishments that promise to keep retirees well-fed, including the Main Street Restaurant, where large portions of homemade chicken soup, burgers, salads, pancakes, and other dishes meet soft drinks and warm service.
Monticello
Monticello is one of the best towns to retire in Minnesota, near Minneapolis, which is just 38 miles away. Here, retirees will get to enjoy a peaceful experience with easy access to big city amenities, like Target Field, an amazing place to catch a baseball game, concerts, and other events. Plus, the town is affordable with an average home value of $321,572. Daily life in Monticello also promises to be exciting, with several attractions, including the Monticello Country Club, one of the most picturesque 18-hole courses in Minnesota that also serves food.
Even more exciting, Lake Maria State Park is right in town, with over 14 miles of multi-use trails winding through wetlands and forests that support wildlife such as red fox and beaver. Additionally, the park’s lake set the stage for boating and fishing, plus backpack-in campsites and camper cabins are available year-round for those looking to spend more time in nature. Meanwhile, the Monticello Community Center is a delightful place where one can build social connections and be entertained by a long list of amenities, including a pool, fitness center, indoor track, and more.
Red Wing
Red Wing is a charming town on the Mississippi River, combining natural scenery with affordability and recreation to make retirement incredibly pleasant. For one, retirees here will be closer to home ownership, with an average home value of $278,417. This is despite the town’s admirable attractions, including the Treasure Island Amphitheater, one of the state’s premier outdoor venues, featuring concerts and other events with beautiful views of the river and Lake Sturgeon. This amphitheater is within Treasure Island Resort & Casino, which also features thousands of slots, dozens of table games, a golf course, a spa, and a marina, among other amazing facilities.
Meanwhile, Red Wing Marina & Boat Rental provides the necessary equipment needed to explore the Mississippi River, including a full-service gas dock. Golf lovers will have the 18-hole Mississippi National Golf Link to enjoy with the lush scenery of the river valley, while history enthusiasts will enjoy visiting the Pottery Museum of Red Wing, where thousands of stoneware, art pottery, dinnerware, and folk art highlight the unique craftsmanship of the town. In the meantime, active retirees will have plenty of things to enjoy here, including an uphill hike to Barn Bluff for picturesque views of the river and the town.
Worthington
Located in Minnesota’s southwest corner, Worthington promises to be easy on retirees' pockets, including prospective homeowners with an average home value of $234,161. In addition, this town sits pretty on Okabena Lake, where it offers a wide range of activities to make retirement exciting. Those who enjoy the outdoors have Olson Park to relax, bike, disc golf, and hike with views of the beautiful lake, green grass, and lush trees. The park is particularly an amazing place for lakeside camping with a campground featuring ample shade and amenities, like a dump station, electric hookups, and showers.
On the other side of Okabena Lake, Chautauqua Park is also a great place to relax and fish, stroll, and watch kids play. Those who love golf will appreciate the proximity to GreatLIFE Golf & Fitness Club Worthington, one of the region’s finest courses. The 18-hole course boasts beautiful fairways and greens, lush trees, a pro shop, and a restaurant offering delicious food and craft beer.
Notably, Worthington is home to Nobles County Pioneer Village, the largest historic Village in Minnesota, and one more attraction to delight retirees here. This village preserves over 40 structures showcasing life in the late 1800s and early 1900s, during the westward expansion. Notable structures in the village include a blacksmith shop, a one-room schoolhouse, and a vintage train depot, all depicting early pioneer life in the prairie.
The Best of America On A Budget In These Minnesota Towns
These towns in Minnesota combine affordability with a pleasant outdoor lifestyle to deliver one of the country’s premier retirement hotspots. With most flaunting below-the-state home values, it is easier to settle in these Minnesota towns and enjoy those golden years in a state endowed with an abundance of natural treasures, including over 11,000 lakes. From Owatonna, where one can play a role in the state’s biggest county fair, to Willmar, where sunny days can be spent with a peaceful bike ride through scenic areas, every one of these towns is a worthy place to retire and the best of America on a budget.
