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?
There’s a lot apartments that have heat “included” in their rent, so you need to look for those 👍
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?
Have you been in either place? Fishing and canoeing usually runs April to mid October…if you are not a fan of ice fishing.
I did and I am still struggling. Rent is Cheaper. But other costs evens things out still leaving you hurt. Rent is cheap cost of electricity, gas, water, transportation, has me thinking did I make b the wrong choice!
Most of these look like they’re in tornado zones.
Sorry, notinterested in living in the Midwest. No thanks to super cold weather, flooding or tornadoes!
Stay around here and fish… maybe you can start another chain of Seafood Shanty’s lol lol
Well you have the shanty right. Don’t get caught fishing without paying more money!
Too cold for too long, stuck inside. If you live alone that is the worst with the grey skies and snow.. People have heart attacks shoveling snow. What is the point of living if you live like that? I bet the suicide rate is high.
Apartments are cheaper in Detroit, Michigan
Whole-Lee-Smokes**!!
A majority of the people in THIS comment section are giving rise to the stereotype “grumpy old folks”
L Ö L
**not gonna break
Commandment III
no thanks – came from the mid-west – – way toooo cold, and too much crime. some of the very cities mentioned are the very cities that appear on cop shows regularly and it’s due to the criminal activity. we’ve migrated to south Texas – – yes, it’s hot this year, but sure beats the cold winters up north. cost of almost everything – rent, groceries, gas – are much more reasonable down here and crimes are not so “random” – mostly between family members or groups. as for immigration – heck they head north asap. they don’t want to hang around down here. we’re lov’in it down here and best of all, feel safe.
Not a grumpy old folk however cold and bad weather and dinky old run down apartments may not be what most retirees want ! U just keep on living and don’t judge happy Seniors!
There are quite a number of folks in the upper Midwest that enjoy the seasons that provide the variety and beauty it is famous for. Even winter has beauty. If you want, like so many choose, you can leave the cold behind for a few weeks or months, and find a sweeter spot to live. As for tornadoes, it seems other parts of the U.S. have been more affected than N.D. or MN. So, I think that concern is limited. As for heart attacks, you were very likely a candidate before shovelling snow, it was only brought about sooner. As humans, we can find ways to adapt, and we must use the resources available to us for that purpose.