According to the Social Security Administration, the average monthly payment is $1,618.29. Sometimes, a monthly Social Security Check isn’t enough for most retirees who don’t have other incomes – unless they decide to relocate to one of the most financially friendly cities in the inexpensive Midwest.
GOBankingRates used Sperling’s Best Places cost-of-living data to identify those cities where day-to-day life is low-priced and the rent for the average one-bedroom apartment has a reasonable price. Ultimately, the study analyzed AreaVibes data to identify low-cost, low-rent places with comparable strong livability scores, which are determined based on quality-of-life criteria such as amenities and crime.
If your only source of income comes from Social Security checks, your money will go the furthest in the Midwest. That’s why we’ve rounded up 10 cities where you can live on just your monthly retirement payment.
Keep reading to find out about them!
Well, as I see it, retirement and cold, lousy weather usually don’t go well together. However, if you don’t have a choice…then we might have made better retirement plans before we had no choice.
Where does Puerto Rico rank over all, for Americans, living on just Social Security income ?
To bad cold winters for retierment
You do not mention anything about utilities. North Dakota gets very cold in the winter. What are the cost of utilities in this town during winter. Can a person on SSI still be able to live afford to there?
OK, but who wants to live in Kansas or North Dakota?? Fishing and canoeing in Williston, ND? What, for maybe 4 months of the year?