Evanston, Ill.: A Smart Place to Retire
The “City of Churches” on Lake Michigan provides retirees outdoor activities and iconic architecture.
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Delivered daily
Kiplinger Today
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more delivered daily. Smart money moves start here.
Sent five days a week
Kiplinger A Step Ahead
Get practical help to make better financial decisions in your everyday life, from spending to savings on top deals.
Delivered daily
Kiplinger Closing Bell
Get today's biggest financial and investing headlines delivered to your inbox every day the U.S. stock market is open.
Sent twice a week
Kiplinger Adviser Intel
Financial pros across the country share best practices and fresh tactics to preserve and grow your wealth.
Delivered weekly
Kiplinger Tax Tips
Trim your federal and state tax bills with practical tax-planning and tax-cutting strategies.
Sent twice a week
Kiplinger Retirement Tips
Your twice-a-week guide to planning and enjoying a financially secure and richly rewarding retirement
Sent bimonthly.
Kiplinger Adviser Angle
Insights for advisers, wealth managers and other financial professionals.
Sent twice a week
Kiplinger Investing Weekly
Your twice-a-week roundup of promising stocks, funds, companies and industries you should consider, ones you should avoid, and why.
Sent weekly for six weeks
Kiplinger Invest for Retirement
Your step-by-step six-part series on how to invest for retirement, from devising a successful strategy to exactly which investments to choose.
Population: 74,106
Cost of living: 123
Median home price: $433,000
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
College perk: Lectures and classes through the Osher Lifelong Learning Institute.
Situated between Chicago’s city limits and its North Shore suburbs, Evanston is best known as the home of Northwestern University, but it’s hardly a simple college town. Whether you’re drawn to its classes, architecture, theater or music, this “City of Churches” is a rich cultural center with plenty to offer retirees.
Evanston is on America’s so-called Third Coast, Lake Michigan. The freshwater behemoth offers excellent views and miles of biking trails along the water and through town. You can even become a member of Northwestern’s Sailing Center, which offers discounted rentals and training classes to members interesting in sailing and kayaking.
But the cornerstone of Evanston’s retiree appeal is Northwestern itself. The Osher Lifelong Learning Institute—motto: “Curiosity Never Retires”—offers regular lectures, classes and study groups for any retiree looking for a sense of community and vibrant discourse. Membership starts at $400 for a full academic year. A plethora of events is offered to the public, including seminars, movies, student and professional theater—with instruction from the artists behind Chicago’s iconic Steppenwolf and Goodman theaters—and affordable performances by the Northwestern University Symphony Orchestra. “If you’re among the people of Evanston, we do everything we can to make our community relations as good as they can be and share whatever we can,” says Bob Rowley, assistant vice president of media relations for Northwestern.
Another draw is Evanston’s historic architecture. It received the attention of architectural greats such as Frank Lloyd Wright in the early 20th century, which earned it the moniker “City of Homes.” There are dozens of iconic structures, such as the Charles A. Brown House, dotting neighborhoods across town.
The City of Homes isn’t cheap. Single-family houses go for $500,000 and up. But Evanston has plenty of condos, many ranging in price from about $200,000 to $300,000. If you’d prefer to rent until you determine whether you are game for Chicago winters, apartments are available for $1,500 a month and up.
With highly rated hospitals scattered across Chicago, including the NorthShore University HealthSystem Evanston Hospital, located in town, and the trailblazing Rush University Medical Center, you will have no problem finding world-class medical care. Illinois excludes most retirement income from state taxes, but sales taxes are steep. Property taxes are also high, but there are numerous homestead exemptions for seniors who qualify.
For population figures, we used the most recent U.S. Census Bureau data. Cost-of-living data comes from the Council for Community and Economic Research (100 represents the national median). Median home prices were provided by Redfin, Zillow and local associations of Realtors.
-
Look Out for These Gold Bar Scams as Prices SurgeFraudsters impersonating government agents are convincing victims to convert savings into gold — and handing it over in courier scams costing Americans millions.
-
How to Turn Your 401(k) Into A Real Estate EmpireTapping your 401(k) to purchase investment properties is risky, but it could deliver valuable rental income in your golden years.
-
My First $1 Million: Retired Nuclear Plant Supervisor, 68Ever wonder how someone who's made a million dollars or more did it? Kiplinger's My First $1 Million series uncovers the answers.
-
457 Plan Contribution Limits for 2026Retirement plans There are higher 457 plan contribution limits in 2026. That's good news for state and local government employees.
-
Medicare Basics: 12 Things You Need to KnowMedicare There's Medicare Part A, Part B, Part D, Medigap plans, Medicare Advantage plans and so on. We sort out the confusion about signing up for Medicare — and much more.
-
The Seven Worst Assets to Leave Your Kids or Grandkidsinheritance Leaving these assets to your loved ones may be more trouble than it’s worth. Here's how to avoid adding to their grief after you're gone.
-
SEP IRA Contribution Limits for 2026SEP IRA A good option for small business owners, SEP IRAs allow individual annual contributions of as much as $70,000 in 2025, and up to $72,000 in 2026.
-
Roth IRA Contribution Limits for 2026Roth IRAs Roth IRAs allow you to save for retirement with after-tax dollars while you're working, and then withdraw those contributions and earnings tax-free when you retire. Here's a look at 2026 limits and income-based phaseouts.
-
SIMPLE IRA Contribution Limits for 2026simple IRA For 2026, the SIMPLE IRA contribution limit rises to $17,000, with a $4,000 catch-up for those 50 and over, totaling $21,000.
-
457 Contribution Limits for 2024retirement plans State and local government workers can contribute more to their 457 plans in 2024 than in 2023.
-
Roth 401(k) Contribution Limits for 2026retirement plans The Roth 401(k) contribution limit for 2026 has increased, and workers who are 50 and older can save even more.
