In this article, we take a look at the 5 best places to live on social security check only. For more such products, go to the 15 Best Places to Live on Social Security Check Only.
5. Madison, Wisconsin
Insider Monkey Score: 3
Madison is home to over 38 retirement communities. With plenty of attractions for seniors and recreational activities, the city is greatly preferred by retirees. There are many scenic lakes and parks spread across the area. Dane County, the central county of Madison, has a strong and caring community that offers numerous resources for its seniors. Case managers in each senior center help those retiring with their financial plans, housing, and even social activities. However, housing is becoming expensive, with median home prices rising to $0.37 million. Overall, Madison offers a good quality of life and healthcare.
4. Lincoln, Nebraska
Insider Monkey Score: 3
In 2017, 3000 people of retirement age moved to Nebraska and Lincoln is one major reason behind this move. A city in Nebraska, Lincoln offers lots of cultural activities and entertainment options for retirees. The cost of living in the city is around 8% lower than the national average. Home to the University of Nebraska, the city offers abundant local food and a thriving business environment that even retirees can benefit from. There are lots of bars, coffee shops, and parks too. However, one thing to note is that the state doesn’t provide any deduction or exemption on retirement incomes except military retirement income.
3. Cleveland, Ohio
Insider Monkey Score: 3
Cleveland is another option that retirees can consider, with lots of cultural opportunities and relatively low costs of living. The city is extremely elder-friendly, with numerous programs, services, and home-care facilities available for seniors. With costs of living 6% lower than the national average, average rent in the city stands between $959 and $2,075 in 2023. This makes housing 17% cheaper than the U.S. average. Groceries and clothing are also 4% cheaper than in the U.S. overall on average, while utilities are 2% more pricey.
2. Augusta, Georgia
Insider Monkey Score: 3
Blessed with warm weather and a low cost of living, Augusta is quickly becoming a desired place to retire for seniors. U.S. News and World Report state that retirees can easily afford to live here with a retirement income of less than $40,000 per year. Lots of cultural and outdoor activities, proximity to medical services and facilities, affordable housing, and a low cost of living make it one of the best places to retire. Residents who are 60 years or older need to pay $626 only, while homeowners need to pay $1,064 having a mortgage. Those who have paid off their homes need to pay $353 only.
1. Pittsburgh, Pennsylvania
Insider Monkey Score: 5
The steel city of Pittsburgh is a top spot for retirees to spend their golden years. According to Numbeo, rents are 61.4% cheaper than in New York, while living is 19.1% cheaper overall. However, winters can be harsh which is the only potential drawback of this city. Nevertheless, the area is commended for plentiful volunteer opportunities, mass transit, and walking. Plenty of cultural activities such as museums are available. Biking, walking, and hiking trails are also spread abundantly. Senior assisted-living care averages $3250 per month, lower than the $4,100 state average. Moreover, Pennsylvania does not tax social security income or payments from retirement accounts.
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