01 - Taxes
Retirement Tax Treatment
Minnesota exempts most middle-income retirees from state tax on Social Security benefits, with taxation kicking in only above certain income thresholds.
Source · Tax Foundation
0
Fact text
- The town name 'Andover' was supposedly born when a train 'went over and over' off the tracks, but that legend is totally made up.
- Andover was originally called 'Round Lake Township,' then renamed 'Grow Township,' before finally settling on Andover in 1899.
- Andover has produced not one but three professional women's ice hockey players, including Olympic goaltender Maddie Rooney.
Your
Andover
Retirement Outlook — in 90 seconds
Hosted by Michael McMillan, President of Annuities.net
Every figure mentioned is drawn from the same sourced public data shown below — and the video updates as the data does.
33,019
+
Total Population
$
112,967
Median Income
$
305,900
Median Home
13
%
Age 65+
Retirement Suitability
How
Andover
ranks for retirees?
30
/ 100
A blended, sourced view of how this city ranks for retirees across tax, affordability, healthcare, and climate.
Tax
0
Affordability
85
Healthcare
29
Climate
3
Results
Andover
Suitability Breakdown
02 - Income
Annuity Rates Available Here
Fixed annuity rates reach up to
7
% on 5-year terms, with most landing between
5
% and
5
%.
Source · Cannex
85
03 - Healthcare
Hospital Access & Quality
The area has
1
Medicare-certified hospitals, averaging a
3
/5 CMS quality rating.
Source · CMS Hospital Compare
3
04 - Climate
Weather & Comfort
A
Cold / Snowy
climate — summers peak near
80
°F, winters dip to about
5
°F, with roughly
″ of snow a year.
Source · NOAA Climate Normals
Cold / Snowy
05 - Risk
Natural Disaster Risk
FEMA's overall natural-disaster risk rating for this county on the National Risk Index.
Source · FEMA National Risk Index
Relatively Moderate
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Frequently Asked Questions
Does Minnesota tax Social Security benefits for retirees?
Minnesota offers partial exemption on Social Security benefits, meaning most middle-income retirees owe no state tax on that income. Taxation only applies above certain income thresholds. If your retirement income is modest, you may keep more of your Social Security check than you might expect. Consult a tax professional to see where your income falls relative to Minnesota’s thresholds.
How can Andover retirees get predictable income despite Minnesota’s cold winters and market swings?
Andover households earn a median of nearly $113,000, and Minnesota partially exempts Social Security from state tax, meaning many pre-retirees here keep more of their fixed income than they might expect. A multi-year guaranteed annuity locks in a set interest rate for a chosen term, so your growth is predictable regardless of market swings, which helps cover non-negotiable expenses like heating bills through those brutal 5°F winters. Current rates change often, so check our current annuity rates page for today’s figures.
How accessible is hospital care for retirees living in Andover, Minnesota?
Andover is served by one Medicare-certified hospital in the area, which holds an average CMS quality rating of 3.0 out of 5 stars. That signals adequate access but not exceptional medical quality. Retirees with significant healthcare needs may want to research specialty care options beyond this single facility before settling in the community.
How much does a home typically cost in Andover, and what does that mean for retirement planning?
The median home value in Andover is $305,900, which is relatively affordable compared to many metro-area communities. For retirees, home equity can be a meaningful part of overall financial planning. Understanding local housing costs helps when deciding whether to downsize, stay put, or relocate, and how much guaranteed income you may need to cover housing expenses.
How harsh are Andover’s winters, and what natural disaster risks should retirees be aware of?
Andover experiences a cold and snowy climate, with average winter lows around 5 degrees Fahrenheit and summer highs near 80 degrees. Severe cold is a real consideration for retirees sensitive to harsh weather. FEMA rates the county’s overall natural-disaster risk as Relatively Moderate, so extreme weather beyond winter cold is not an outsized concern compared to many other U.S. regions.