Social Security: The 10 Best States to Live in With Just This Check

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ORWhen people reach retirement age, it is very important to adjust to the amount of money they will receive from Social Security.

It is noteworthy that even without saving enough money, certain benefits are available for retirement.

The average monthly allowance people receive is just over $1,400, which is low for those who live in expensive places.

plan ahead

Thus, a good alternative to trying to avoid financial complications is to plan ahead to live in a place where the cost of living is not as high, or to have a source of additional resources for social security.

As a recommendation, GOBankingRates has prepared a list of the best cities to live in only on Social Security.

To prepare his analysis, he compared the 143 largest cities in the country and took into account the cost of living, livability, and average rent.

Here are his findings on the top 10 places with the best prospects for single living on retirement benefits.

10. Davenport, Iowa

Cost of living estimate: 81.7

Living Score: 69

Average rent: $644

Living in Davenport costs 19% less than the average US city.

9. Abilene, Texas

Cost of living estimate: 78.1

Living Score: 75

Average rent: $780

The cost of living in Abilene is approximately 22% lower than the national average, one of the lowest rates in the study.

8. Norman, Oklahoma

Cost of living estimate: 89.4

Living Score: 76

Average rent: $715.

Norman is home to the University of Oklahoma, and living around all those college students will keep the retiree young.

7. Lake Charles, Louisiana

Cost of living estimate: 83.4

Living Score: 70

Average rent: $622

Lake Charles ranks third in terms of rental costs among the cities covered in this study.

6. Des Moines, Iowa

Cost of living estimate: 81.2

Living Score: 75

Average rent: $729.

Des Moines scored highly in two categories: livability and cost of living.

5. Rochester, Minnesota

Cost of living: 94.1

Living Score: 84

Average rent: $800

Although rent is ranked third in the study, the livability score is also high, making it attractive to retirees.

4. Fort Wayne, Indiana

Cost of living estimate: 78.9

Living Score: 75

Average rent: $718.

Fort Wayne is a bit more expensive than many of the other cities on this list, but it still ranks among the top cities in the country with $1,500 a month retirement income.

3. St. Charles, Missouri

Cost of living estimate: 92.2

Living Score: 86

Average rent: $831

St. Charles has the highest rental value in the study at $831, but also has the highest livability score at $86.

2. Lynchburg, Virginia

Cost of living estimate: 82.9

Living Score: 81

Average rent: $786

Lynchburg’s relatively high livability score is the main factor that has earned the city its place on the list. Its cost of living is 17% lower than the US average.

1. Rock Springs, Wyoming

Cost of living estimate: 96.2

Living Score: 83

Average rent: $692

Today, it’s a city that welcomes retirees, with a low median rent of $692 and a high livability score.

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