6 Midwest Retirement Cities That Make Your Monthly Budget Feel Bigger
Key Points
The place you live heavily influences your monthly budget.
The Midwest is one of the most affordable regions in the country, and it offers plenty of amenities.
These six Midwest towns are very affordable, with housing prices below the national average.
- The $23,760 Social Security bonus most retirees completely overlook ›
The Midwest is one of the most affordable parts of the country, even if you aren't specifically looking for retirement spots that can preserve your portfolio. However, when you specifically look for the best Midwest retirement cities, the savings become tremendous.
You don't even have to live by the coasts to get access to high-quality beaches. These are some of the top locations for retirees.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Image source: Getty Images.
Fennimore, Wisconsin
Fennimore is a great retirement destination for people who like the outdoors. Oakwood Park can keep you busy for hours with its disc golf course, scenic views, and 3.5 miles of hiking trails. You can also try trout fishing, as Fennimore is one of the best spots in the country for it. A nine-hole golf course can also keep retirees busy during the warmer months.
It's filled with homeowners and has some social spots where people gather. Fennimore offers a quiet, suburban feel with average house prices currently at $219,500. Not many homes get listed in the area, so you will have to act quickly if you see something that you like.
Bedford, Indiana
Indiana is one of the most affordable states in the country, and low prices are a key factor retirees consider, according to the Motley Fool's Best Places to Retire Index. Bedford represents one of the most affordable parts of the state, with a median home price of $249,900, according to Realtor.com. That's only up by 2% year over year, so there isn't much movement in housing prices.
The town offers several entertainment options, including the Caramoor Center for Music and the Arts. This venue holds concerts and events, and you can go to the Bedford Playhouse for movies and social events. There are even senior programs at the Bedford Hills Community House that enable a more active retirement lifestyle.
La Crosse, Wisconsin
La Crosse is another low-cost retirement spot, with a median home price of $247,400, according to Realtor.com. Property prices have been steadily decreasing in the area, with a 4.8% decline over the past year.
Granddad Bluff is one of the best places in the state, offering views of three states: Wisconsin, Minnesota, and Iowa. La Crosse also hosts many adult programs that make it easier for people to meet others who share a common hobby. Local parks and the Mississippi River host miles of trails that you can run, walk, or bike. La Crosse is also the home of the Shrine of Our Lady of Guadalupe, which attracts many Catholics.
Decorah, Iowa
Decorah might be one of the best affordable midwestern towns for people who like to stay active. It has an 11-mile Trout Run Trail. The Seed Savers Exchange is an 890-acre farm that may be for you if you enjoy hiking. Dunning's Spring Park and Decorah Fish Hatchery both offer great walking spots as well.
Once you're out of nature, downtown Water Street lets you choose from several boutiques and local businesses. Corporations haven't taken over this street, and you will have opportunities to befriend locals at the weekly farmers market, breweries, and the Senior Citizens Hospitality Center. Notably, the median house price in the area is $299,825, down 18.9% year over year. Houses are also staying on the market longer, which is turning Decorah into a buyer's market.
Winona, Minnesota
Winona's average house price is $290,000, similar to Decorah's. However, this Minnesota town's housing prices are up by 20.1% over the past year, highlighting strong demand for the area.
You can travel parts of the Mississippi River via a Winona Tour Boat or by renting kayaks, and it's possible to see an eagle during the tour. Winona has several state parks and museums, giving you plenty to do while preserving your nest egg. People gather for the Great River Shakespeare Festival performances and community programs organized by the Winona Public Library.
Hillsboro, Kansas
You can find a lot of great homes for under $200,000 in Hillsboro, according to Realtor.com. The town is a bit more laid back, which is perfect for retirees who don't want any drama.
Marion Reserve is a popular spot for camping and fishing. Senior activities are available at Parkside Homes, and you can also meet people at the Hillsboro Annual Arts & Crafts Fair. If you enjoy golf, you'll like the Hillsboro Municipal Golf Course, which is a nine-hole course. A driving range and putting green are also parts of the facility.
The $23,760 Social Security bonus most retirees completely overlook
If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income.
One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Join Stock Advisor to learn more about these strategies.
View the "Social Security secrets" »
The Motley Fool has a disclosure policy.
Recommended Articles
