Retirement is a big step for most people and getting it right the first time is vital. I have no experience in retirement since I'm still many years away from it, but I'm sure most people want to be in a place where they can get the most bang for their buck. A person certainly does not want to outlive their savings. With that in mind, the cost of living comes to the forefront of any potential scenario when one thinks about hanging it up and riding off into the proverbial sunset.

When it comes to cities with low cost of living in the United States, Sioux Falls is usually in the conversation. The same goes for the best places to start a business, but that's another article.

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So it should be no surprise that when Forbes came out with their list of the best places to retire in 2022, Sioux Falls is on the list. In fact, Forbes thinks so highly of Sioux Falls that the city is in the title of the article; Best Places To Retire In 2022: Sioux Falls And Other Hot Spots. 

Forbes notes that a top reason Sioux Falls is the best place to retire is the 'low' median home price of 'just' $296,000. They say prices are 21% below the national median. The cost of living is 11% below the national average. They mention that Sioux Falls has an excellent ratio of physicians per capita along with good air quality and a very strong economy. No state income or estate tax is also a huge plus. They ding Sioux Falls for its cold winters, serious crime rate above the national average and the city is not 'very walkable.'

Other cities in the region that made the Forbes list include:

  • Iowa City, Iowa
  • Rochester, Minnesota
  • Fargo, North Dakota

Sioux Falls: Then and Now

The City of Sioux Falls has changed dramatically over the past several years. Some of the streets, landscapes, and neighborhoods look vastly different than just 10-15 years ago.

Here's a look at Sioux Falls, then-and-now. See if you can recognize some of these old buildings, businesses, and city streets.