Retirement can bring joy and freedom, but living on a fixed income like Social Security can be challenging. Discover where affordability meets a high livability score for couples looking to thrive on their benefits.
Jerome, Illinois: A Hidden Gem
Jerome, Illinois, stands out with a livability score of 92. It offers couples an average annual leftover income of $1,544 after expenses on a Social Security retirement income. The average monthly mortgage is $845, making it an attractive option for retirees. With 15.2% of the population aged 65 and over, it’s a community supportive of seniors.
Homestead, Pennsylvania: The Retirement Paradise
For couples planning retirement on Social Security, Homestead, Pennsylvania shines brightly with a low monthly mortgage of $448. Retirees here can enjoy an annual leftover income of $6,310, making it one of the best cities to live on Social Security. The total annual cost of living is just $27,965. With 26.8% of residents aged 65 and over, this town is designed for seniors.
Sandusky, Ohio: Coastal Affordable Living
Sandusky, Ohio, is another excellent choice for retirees needing affordable housing. The monthly mortgage of $809 allows couples to save $5,468 annually after expenses. A livability score of 87 means it’s not just affordable but also comfortable and inviting. With a total annual cost of living of $28,807, Sandusky combines charm with financial relief.
More Affordable Living Cities
The following cities also score well, offering affordable housing and a decent quality of life for retirees
- Cleveland Heights, Ohio: Monthly mortgage of $1,133 with a leftover income of $75. Livability score: 88.
- Nutter Fort, West Virginia: Monthly mortgage of $738 and $2,019 left over annually. Livability score: 87.
- South Euclid, Ohio: Monthly mortgage of $1,012 providing $1,604 leftover income annually. Livability score: 87.
- Meadville, Pennsylvania: With a mortgage of $858, this city allows couples to save $2,790 annually. Livability score: 85.
- Scranton, Pennsylvania: Monthly mortgage of $994 with a leftover income of $245. Livability score: 85.
- Millvale, Pennsylvania: Monthly mortgage of $703 with $3,376 leftover annually. Livability score: 84.
- Frostburg, Maryland: Offering a mortgage of $981 and $2,403 leftover income annually. Livability score: 84.
- Emmetsburg, Iowa: Monthly mortgage of $883 with a leftover income of $1,708. Livability score: 84.
- Tiffin, Ohio: Mortgage of $1,011 allows for $3,096 leftover income annually. Livability score: 83.
- Ambridge, Pennsylvania: Monthly mortgage of $797 with a leftover income of $2,064. Livability score: 83.
- Willowick, Ohio: A monthly mortgage of $1,061 providing $1,089 left over. Livability score: 83.
- Mayville, North Dakota: Monthly mortgage of $1,070 with a leftover income of $1,078 annually. Livability score: 81.
Why These Cities Shine
The affordable living cities for retirees listed above provide a remarkable blend of low housing costs, supportive communities, and a manageable cost of living, making them ideal for those relying solely on Social Security. These towns offer various amenities, community support, and activities to engage retirees.
When selecting a place to retire, affordability is crucial, but livability factors equally play a significant role. With higher livability scores for retirees, these cities promise not only comfort but a sense of belonging in a community.
Budgeting on a Social Security check can be daunting, but cities like Jerome and Homestead offer hope that a fulfilling retirement is achievable without financial strain. Opting for a city with affordable housing options allows couples to savor their golden years without financial anxiety.
Finding the perfect blend of affordability and quality of life can make all the difference. These towns exemplify that you can thrive on a limited income and still enjoy the benefits of retirement.