Key Takeaways
- With a population of about 5,340, Algona, Iowa may appeal to retirees from the Midwest and farther afield.
- Algona is appealing as a retirement destination because it is walkable, community-oriented, and very affordable.
- Algona has a close-knit community with plenty of regular festivals and other events to encourage social connections.
Located in north-central Iowa and roughly equidistant from Minneapolis and Des Moines, the quiet, small town of Algona may not be the flashiest retirement destination, but its combination of friendly atmosphere, low living costs, and relaxed pace are nonetheless appealing. If you’re looking for affordability and a close-knit community without sacrificing comfort or essential amenities, don’t overlook Algona.
We take a closer look at some of the draws of this town of only around 5,340 and why even those outside of Iowa might consider retiring in Algona.
Cost of Living and Taxes
Your cost of living may be the single most important factor if you’re preparing to live on a very limited income—and Algona’s affordability is very attractive. Housing remains inexpensive as both home prices and rents are well below national averages: the median home value is $177,642, less than half of the nationwide median value of $359,241. Those not looking to buy will find that rent is also quite affordable, with Algona sporting a median rent of just $887 per month.
Retirees can expect that daily expenses, utilities, and transportation costs will also be lower than in many other parts of the country. This is essential if you’re budgeting on a fixed income, as each of these expenses can add up and squeeze pocketbooks. With a population of just several thousand people—more than a quarter of whom are of retirement age—Algona encourages a low-pressure and low-cost lifestyle that won’t break the bank.
Taxes can also impinge on living expenses in retirement, but the state of Iowa is appealing in that area as well thanks to its lack of taxes on Social Security benefits and retirement (such as IRA) or pension withdrawals. Though property taxes are a bit higher than the national average, Iowa’s income tax rate is just 3.8% if you are still working.
Healthcare Access and Lifestyle Benefits
The primary medical facility in the county is Kossuth Regional Health Center, located directly in Algona. Just over an hour’s drive away is the larger town of Mason City, with its more robust medical networks that are better equipped for advanced care.
Despite its slow pace of life, there are still plenty of ways to keep active in retirement in Algona. A number of local and state parks offer access to golfing, fishing, and hiking, while the Algona Recreational Trail is a good option for biking or walking. Algona is also adjacent to the 138-acre Ambrose A. Call State Park, where residents can camp, hike, play disc golf, and more.
As part of the Midwest, Iowa enjoys four distinct seasons that provide an annual rhythm, seasonal events, and a good amount of variety.
Important
Kossuth county, where Algona is located, has a slightly elevated risk of natural disasters compared to the rest of the U.S.
Things to Do in Algona
Some of Algona’s appeal lies in its classic small-town charm. Year-round festivals, local theater, community concerts, and seasonal celebrations abound. In the summer and early fall, the Kossuth County Farmers’ Market may appeal to chefs, and wine drinkers will want to sample locally-produced vintages at Plum Creek Winery. For those looking for a bit of history, the Camp Algona POW Museum displays Algona’s role in the Second World War. There’s also a Kossuth County Agriculture and Motorsports Museum.
One area where Algona really shines is its walkability. The town is rated as significantly more walkable than many others of its size, and it’s also quite walkable compared to other towns, cities, and suburbs in the region. Retirees can safely and comfortably enjoy walkable neighborhoods that help contribute to a tight-knit community.
The Bottom Line
Algona, Iowa exudes small-town charm, and its peaceful pace and strong community identity make it appealing to retirees looking for quiet and calm in their later years. Other added benefits of this easy-to-miss retirement destination includes its excellent cost-of-living advantages, its community spirit, and its walkability.
