Key Takeaways
- The 59,000-person riverfront town of Dubuque, Iowa, has a small but involved community of retirees.
- The median rent and median home value are attractive compared with nationwide medians—you get a lot of bang for your buck here.
- Local taxes are generally favorable for retirees as well.
- The town offers plentiful opportunities for outdoor recreation along the Mississippi River and with miles of hiking and biking trails.
Investopedia Answers
ASK
With a population of just under 59,000, Dubuque, Iowa, is a large Midwestern town on the bluffs of the Mississippi River. It's not just appealing for its beautiful setting—its size and its strong community of more than 12,000 residents age 65 and older ensures a balance of amenities and comfort. Add in a walkable downtown and a welcoming Midwestern culture, and it's easy to see the appeal.
Below, we explore how Dubuque could be perfect for your retirement.
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Affordability, Cost of Living, and Taxes
Dubuque offers relatively affordable housing and everyday expenses. The town’s median home value is just over $238,103, which is significantly lower than the national median of $359,241. The average monthly rent of $1,050 is also quite attractive relative to other retirement destinations. It’s much lower than the average rent nationwide, which is $1,995 per month.
The overall cost of living in Dubuque is about 9% below the national average, meaning that you’ll benefit from lower costs relative to coastal or Sun Belt destinations while still enjoying cultural richness and riverfront recreation. As a bonus, Iowa’s tax code is largely favorable to retired taxpayers. The state has a low statewide individual income tax rate of 3.8% and a moderate state sales tax rate of 6.0%. Iowa does not tax Social Security benefits or retirement or pension fund withdrawals. Dubuque county’s property tax rate is highly competitive.
Accessibility, Climate, and Health Care
While Dubuque is not highly walkable overall, the downtown and riverfront districts do offer numerous pedestrian-friendly zones with shops, dining, and cultural venues. More active retirees may enjoy exploring the river bluffs or hiking and biking along dozens of miles of local trails like the gorgeous Heritage Trail.
Dubuque enjoys four seasons, boasting picturesque landscapes along the water. The town's inland position in the Midwest makes it fairly low-risk for natural disasters and the impact of climate change, although flooding and tornadoes may be a concern.
While there are just three hospitals in the county, the average star rating of those hospitals is 4.5 out of 5, meaning they have a notable quality advantage over many regional hospitals across the country. Large facilities such as UnityPoint Health-Finley Hospital and MercyOne Dubuque Medical Center provide emergency services and specialty care minutes from residential neighborhoods.
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Community and Culture
Just 20% of Dubuque residents are age 65 or older. Still, there is a thriving and growing community of retirees in town. Many enjoy the town's blossoming arts scene as well as the numerous volunteer opportunities in the area.
Dubuque offers activities and sites for many interests, like the National Mississippi River Museum & Aquarium. There's a strong local theater and music scene, as well as seasonal riverfront arts festivals. Home chefs will appreciate the town's farmers market.
Dubuque offers an abundance of outdoor activities, including river cruises, hiking, and more. The Fenelon Place Elevator, known as the shortest and steepest scenic railway in the world, is an exciting and lovely way to enjoy Dubuque's unique bluff setting.
Tip
It takes about an hour and a half to drive from Dubuque to Iowa City and about three hours to drive to Des Moines. Madison, Wisconsin is one and a half hours away, Minneapolis is four and a half hours away and Chicago is under three and a half hours away.
The Bottom Line
Dubuque, Iowa offers a close-knit community of retirees who enjoy numerous benefits of living in this riverfront town, including a low cost of living, modest housing costs, tax benefits, easy access to high quality healthcare facilities, and abundant outdoor and cultural activities. Nestled in the Midwest, Dubuque has a reputation for friendliness and community pride, ensuring that those choosing to move to town for retirement will feel welcome right away.