A surprising city has been named among the best places for retirees.
Minneapolis, Minnesota, may not seem like an obvious choice due to its freezing, snowy winters, compared to the warm climates of typical retirement locations like Florida or Arizona.
But the city’s friendly atmosphere, high-quality hospital system, beautiful surroundings and strong cultural scene make it among the best places to spend your later years, according to new analysis from WalletHub.
And for those who aren’t ready to leave work just yet, Minneapolis also has one of the most senior-friendly job markets in the country.
More than 22 percent of the city’s working population is over 65, according to the study.
Minneapolis, Minnesota, has been named among the best places to retire in the U.S.
WalletHub ranked 180 U.S. cities across 45 metrics to determine which were the most retiree-friendly and where they could plan an affordable retirement while maintaining the best quality of life.
The study took into account factors such as cost of living, climate, quality of health care and the number of museums and fishing spots.
Minneapolis ranked third, surpassed in the top spot only by Miami and Orlando.
Neighboring St. Paul, which is part of the Twin Cities along with Minneapolis, ranked only 31st in the study.
One positive aspect of Minneapolis is that it has a large percentage of jobs that are easy to do, even for older residents.
According to state employment data, jobs in healthcare, retail and education are among the most common in the city.
WalletHub found that many retirees in this Midwestern city may choose to continue working to earn some extra income or simply have something to keep them busy.
The Midwestern city is known for its beautiful lakes and extensive urban park system. It also boasts a lively restaurant and art scene, includingThe Minneapolis Institute of Art, the Walker Art Center, and the Minneapolis Sculpture Garden.
Minneapolis offers a wide range of recreational opportunities that help retirees stay engaged and active, WalletHub analyst Chip Lupo told DailyMail.com.
“Whether it’s enjoying city parks, cultural events or outdoor activities, there’s always something retirees can do,” she said.
‘Retirees who prioritize well-being and a fulfilling lifestyle will find the city to be the ideal place for their golden years.’
Compared to the warm climate of much of Florida, which is a big draw for retirees, Minneapolis is one of the coldest cities in the U.S., with particularly harsh winters.
However, the city experiences all seasons, and summers in the city are not excessively hot, with average temperatures around 80 °F.
According to the study, Minneapolis also has the sixth-best hospital system out of 180 cities, along with a high number of nursing homes and gerontologists per capita.
The renowned Mayo Clinic in nearby Rochester has once again been named among the best hospitals in the U.S. by US News and World Report. category in July.
“Access to high-quality healthcare is essential for retirees, and the city’s excellent healthcare infrastructure offers peace of mind,” Lupo added.
Minneapolis also has the third-lowest suicide rate for people 65 and older.
Minneapolis’ friendly atmosphere and high-quality hospital system rank it among the best places to spend your later years, according to a new analysis from WalletHub.
Summers in Minneapolis are not excessively hot, with average temperatures around 85°F (pictured: Lake Harriet and the Minneapolis skyline)
But the city doesn’t rank very high for affordability, Lupo notes, and Minnesota’s higher taxes are the most obvious financial disadvantage for retirees.
But that doesn’t motivate older residents to seek out cheaper places, said state demographer Susan Brower. The Minnesota Star Tribune.
About 19,000 Minnesotans age 60 and older move each year, while another 11,000 move out, he told the outlet.
“I think a lot of times people tend to think that it’s a one-way ticket, but that’s not the case at all,” he said. “About 99 percent of the state remains in place.”
Brower added that the cost of moving could outweigh any potential tax savings, and that only a “select group of very high-income earners” can choose where to live based on taxes.
Aside from Minneapolis, the other cities that ranked in the top five in WalletHub’s analysis were all in Florida.
This was largely due to the state’s lack of estate, inheritance and income taxes, which are a significant benefit to seniors living on a fixed income.
Orlando, which took the top spot for retirement, lived up to its reputation as a senior haven with the wealth of recreational activities it offers.
The study found that it has an especially high number of music venues, fishing facilities, art galleries and volunteer activities.
While it does not have a particularly low cost of living, it ranks high among geriatric hospitals, allowing elderly residents to receive quality care.
Second on the list was Miami, which also offers plenty of activities for older residents.
Additionally, it is the fifth most walkable city in the country and the vast majority of its residents have access to quality public transportation within walking distance of their homes.
Ranked number one among places to retire, Orlando lived up to its reputation as a senior haven with the wealth of recreational activities it offers.
Second on the list is Miami, which also offers plenty of activities for older residents, warm weather and low taxes.
Tampa and Fort Lauderdale, which also offer extensive tax benefits and warm weather, rounded out the top five.
“It’s important to choose wisely when choosing where to retire, as many retirees are on a fixed income,” Lupo said.
‘As a result, the best cities for retirees are those that minimize taxes and expenses, and also have good opportunities for retirees to continue working for pay to earn additional income, if they choose to do so.
‘In addition, major cities offer high-quality healthcare and offer many fun activities for retirees.’
