Want Truly Frugal Retirement? Try Cedar Rapids, MoneyWise Says

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Cedar Rapids
Downtown Cedar Rapids, Iowa (Photo courtesy Wikimedia Commons/Cory Munson)

Editor’s Note: Recently, MoneyWise revealed its list of the 40 most frugal and friendly places to retire. In a bid to provide an idea of what housing inventory is available in these cities and towns, we’re taking a look at listings in each of the cities on the list.

Not everyone can spend $1 million or more on a second home, even if it’s with the idea that eventually you’ll retire there. So when MoneyWise’s list of 40 places to retire that are more budget-friendly came out, we were curious — what kind of homes could you find in these towns?

Last week, we looked at the 26th city on the list — Springfield, Missouri. This week, we look at Cedar Rapids, Iowa, and found three great homes — all for less than $225,000.

“This small city of 128,000 is developing at a quick pace. Traffic can be heavy during rush hours, but you will find easy access to the interstate highway,” MoneyWise said. “Cost of living is low, with a median income of $53,000. Winters can be quite cold and long, while summers are hot and humid.”

“For people who are used to definite seasons and want to take advantage of investment potential in this growing city, Cedar Rapids is a great retirement option. This community has 16 healthcare centers and rates highly for medical access.”

What will you pick — the sleek industrial studio condo, the pretty little cottage, or the 1922 Craftsman? Head to SecondShelters.com to check them out.


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Bethany Erickson

Bethany Erickson lives in a 1961 Fox and Jacobs home with her husband, a second-grader, and Conrad Bain the dog. If she won the lottery, she'd by an E. Faye Jones home. She's taken home a few awards for her writing, including a Gold award for Best Series at the 2018 National Association of Real Estate Editors journalism awards, a 2018 Hugh Aynesworth Award for Editorial Opinion from the Dallas Press Club, and a 2019 award from NAREE for a piece linking Medicaid expansion with housing insecurity. She is a member of the Online News Association, the Education Writers Association, the International Academy of Digital Arts and Sciences, and the Society of Professional Journalists. She doesn't like lima beans or the word moist.

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