This article takes a look at the 5 best places in Maryland for a couple to live on only Social Security. If you wish to read our detailed analysis on the future of Social Security in the US, you may go to 15 Best Places in Maryland for a Couple to Live on Only Social Security.
5. Havre De Grace
Insider Monkey Score: 85
Livability Score: 81
IM Cost of Living: 105.8
Median Two-Bedroom Rental: $1,358
Starting off our top five for the best places in Maryland for a couple to live on only Social Security is the Harford County city of Havre De Grace. Taking its name from France’s Le Havre – which is a port city – Havre De Grace is set on the Susquehanna River. Residents can not only rejoice from the city’s reasonable rental prices but also the range of activities that it offers, as well as its several eateries.
4. Dundalk
Insider Monkey Score: 85
Livability Score: 85
IM Cost of Living: 104.8
Median Two-Bedroom Rental: $1,600
Set in Baltimore County, Dundalk is one of the larger places on our list with a population of almost 68,000 at the time of the last United States Census. A beautiful retirement spot, senior citizens can benefit from having easy access to necessary amenities such as a medical center, grocery stores, shopping centers, and a post office. For recreation, residents can visit the North Point Plaza Flea Market, Stansbury Park, and the Pinland Bowling Lanes.
3. Oakland
Insider Monkey Score: 85
Livability Score: 71
IM Cost of Living: 85.5
Median Two-Bedroom Rental: $1,200
With a cost of living that is 14.5% below the national average, an Oakland retirement keeps the financial stresses at bay. Located in Garrett County, Oakland is among the smallest towns on our list with a mere population of less than 2,000 residents at the time of the last United States Census. While this may be discouraging for some, it’s nothing less than a dream come true for senior citizens who seek peace and quiet during their Golden Years.
2. Hagerstown
Insider Monkey Score: 86
Livability Score: 77
IM Cost of Living: 92.8
Median Two-Bedroom Rental: $1,200
The number two spot on our list is taken by none other than Washington County’s city of Hagerstown. With a comparatively financially-friendly cost of living, a reasonable rental figure, and a high livability score, Hagerstown retirees can check all the boxes. The city holds a population of almost 44,00 residents – as per the last United States Census – making it one of Maryland’s most populated cities. Residents can visit The Maryland Theatre, the Washington County Museum of Fine Arts, and the Hagerstown Premium Outlets mall.
1. Cumberland
Insider Monkey Score: 100
Livability Score: 78
IM Cost of Living: 79.1
Median Two-Bedroom Rental: $950
Taking the number one spot is the city of Cumberland. A great find for retired couples living on a Social Security income, retirees can benefit from the city’s low median rental prices as well as its affordable cost of living. The city is known for once having been the site for former US President George Washington’s headquarters, marking its place in history. Today, residents can visit the historic site, as well as explore a range of other activities in the city.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also take a peek at 10 Weakest Militaries in Africa and 15 States with the Lowest Homeless Populations Per Capita in the US.
