Report Ranks Mankato As Best In Minn. For Fixed Income Families
MANKATO, Minn. (WCCO) -- The personal finance website GOBankingRates.com named Mankato as the best city in the state to live on a fixed income.
As Mary Jo and Wade Hensel enter retirement, they said they plan to flee over the winter, but will otherwise keep calling Mankato home. One big factor: housing prices.
GOBankingRates.com found home values have consistently increased about 2 percent year over year, while rent has slightly decreased, down to $1,318 a month.
"We really weren't affected as much as other people were back in the 2000s," said Wade Hensel. "So I think there's a lot more security in knowing that if you make investment in a home, more than likely, you're going to recoup your investment."
But what's a home if there's no community around it?
Adam Massman works for the non-profit VINE Faith in Action which, 23 years ago, started offering services like a shuttle system for people who can't drive.
"We don't have a lot of public transit options here in Mankato," said Massman. "So it's nice to have a community organization like this [which] can help people who need the help."
He says it does take the whole community, including volunteers who make it happen.
"Our goal at VINE is to keep people living independently in their own homes, so we provide things like lawn mowing and snow removal, gutter cleaning, those sorts of things," said Massman.