MN City Ranked Among 25 Most Affordable Places To Retire By Forbes

MINNESOTA — One city in Minnesota has been named to Forbes’ ranking of the 25 Best Places to Retire in 2025.

Rochester, Minnesota, was ranked No. 17 among the 950 localities Forbes compared on how well they meet the needs of older Americans.

Pros of Rochester include affordable homes (median $328K, 19 percent below the national average), excellent access to doctors, clean air, low crime, and great for biking.

Cons, of course, include relatively harsh winters and a retiree-unfriendly tax system, with Social Security taxed and high rates on upper incomes.

The cost of housing was the primary factor in determining the ranking, Forbes said, citing National Association of Realtors data showing that since 2020, the median price of single-family homes nationwide has jumped 50 percent to $404,000.

Median home values are below the national median in 22 of the 25 cities, which Forbes said was by design. Four of them — Iowa City, Iowa; Lincoln, Nebraska, Pittsburgh, Pennsylvania; and San Antonio, Texas — have median values under $300,000.

Housing costs are higher than the national median in three of the cities on the list. The most expensive is Raleigh, North Carolina, with a median home cost of $440,000, which is 9 percent above the national median. The others are Madison, Wisconsin, a college town and the state capital, with a median home price of $408,000, about 1 percent above the national median. Pasco, Washington has a median home price of $406,000.

Median home prices in The Villages, Florida, are at the national median of $404,000.

Overall, the list features cities in 19 states in all four domestic time zones. Known for its frigid winters, Fargo, North Dakota, has been on the list in each of the 15 years since Forbes launched it. Pittsburg, Pennsylvania, which also has chilly winters, has been on the list 13 of the 15 years.

Forbes also looked at state tax rates, prospects for the local economy, air quality, serious crime, the availability of primary health care doctors, and how well they encourage an active lifestyle by making it convenient to walk or bike.

Since 2000, Forbes has also looked at the risks posed by natural disasters and climate change. Cities at substantial risk, as measured by the Federal Emergency Management Agency, were not considered, the news outlet said.

Here’s the full ranking:

1. Apache Junction, Arizona
2. Athens, Georgia
3. Bethlehem, Pennsylvania
4. College Station, Texas
5. Columbia, Missouri
6. Fargo, North Dakota
7. Greenville, South Carolina
8. Iowa City, Iowa
9. Lawrence, Kansas
10. Lexington, Kentucky
11. Lincoln, Nebraska
12. Madison, Wisconsin
13. Newark, Delaware
14. Pasco, Washington
15. Pittsburgh, Pennsylvania
16. Raleigh, North Carolina
17. Rochester, Minnesota
18. San Antonio, Texas
19. Savannah, Georgia
20. Sioux Falls, South Dakota
21. Spokane, Washington
22. Tucson, Arizona
23. The Villages, Florida
24. Virginia Beach, Virginia
25. Winchester, Virginia