Searching for an affordable city to retire on a fixed income? Discover 15 places where your Social Security check can stretch further.
^^1. Jerome, Illinois: An Affordable Retirement Destination
Jerome, Illinois, boasts a livability score of 92, making it one of the best places for retirees. With 15.2% of the population aged 65 and over, you’ll find a well-established community for seniors. Monthly mortgage costs average around $845, with a total annual cost of living at $32,731. After considering the Social Security benefits, couples can enjoy an annual leftover income of $1,544.
^^2. Sandusky, Ohio: Enjoy America's Coastline on a Budget
Known for its access to Lake Erie, Sandusky has a livability score of 87 and offers a company-friendly atmosphere for retirees. The average household income is $47,827, while monthly mortgages average $809. With an annual cost of living at $28,807, couples can expect to have $5,468 left over after social security benefits.
^^3. Cleveland Heights, Ohio: Where Community Meets Affordability
Cleveland Heights presents a vibrant community with a livability score of 88. The population aged 65 and over is 18.9%, and households have a median income of $72,302. The average monthly mortgage cost here is $1,133, with an annual cost of living reaching about $34,200. Couples may have a slim leftover income of $75, but the community’s amenities make it worthwhile.
^^4. South Euclid, Ohio: High-Livability with Reasonable Costs
South Euclid, Ohio, combines comfort and affordability, featuring a livability score of 87. Here, 15.7% of residents are aged 65 and over, and the median household income is $78,782. Monthly mortgage costs average $1,012, with the annual living costs around $32,671. Couples enjoy about $1,604 in leftover annual income after benefits make the region attractive for retirees.
^^5. Meadville, Pennsylvania: A Affordable Hideaway for Retirees
Meadville stands out for its 85 livability score and a 18.1% senior population. Often overlooked, this quaint town offers a median income of $46,012 with monthly mortgage rates around $858, driving annual living costs to $31,485. Couples can expect about $2,790 left after their social security checks.
^^6. Homestead, Pennsylvania: Budget-Friendly Living
With a substantial 26.8% senior population, Homestead, Pennsylvania, showcases a welcoming community with a livability score of 84. Monthly mortgages average an impressive $448, with an annual living cost of $27,965. Couples can relish a substantial leftover income of $6,310, making it ideal for seniors looking to save.
^^7. Nutter Fort, West Virginia: Explore Affordable Living
Nutter Fort attracts retirees with a livability score of 87. The population aged 65 and up is 16.6%, while the monthly mortgage averages $738. Total annual living costs reach $32,257, allowing couples to have $2,019 left after benefits.
^^8. Scranton, Pennsylvania: A Balancing Choice
Scranton, home to 18.3% seniors, presents a livability score of 85. Median household income stands at $49,531, with monthly mortgage payments of $994. The annual cost of living is about $34,030, landing couples with $245 in leftover income.
^^9. Millvale, Pennsylvania: A Small Town Charm
Millvale is another option nestled in Pennsylvania, featuring a 14.1% senior demographic with a livability score of 84. The household income averages around $69,936, with monthly mortgage costs at $703 leading to an annual living cost of $30,899. Couples will enjoy about $3,376 left over after Social Security support.
^^10. Frostburg, Maryland: Suburban Escape
Frostburg, Maryland, invites retirees with a livability score of 84. The area has 16.2% of seniors, with household income averaging $51,052. Monthly mortgage costs hit $981, and living expenses total $31,872, offering couples about $2,403 as leftover income.
^^11. Emmetsburg, Iowa: A Peaceful Haven
Emmetsburg provides a tranquil retirement with a 26.0% senior population and a livability score of 84. With a median income of $57,353 and monthly mortgage around $883, the total annual living cost is $32,567. Couples can look forward to $1,708 left over after benefits.
^^12. Tiffin, Ohio: A Community-Focused Environment
Tiffin, with 18.6% of the population aged 65 and over, offers a livability score of 83. A median income of $55,700 and monthly mortgages averaging $1,011 come together with total living costs of $31,179, giving couples an annual leftover of $3,096.
^^13. Ambridge, Pennsylvania: Affordability Meets Charm
Ambridge stands out with its 16.7% senior share and a livability score of 83. Monthly mortgage costs average $797, leading to total annual expenses at $32,211. Couples have about $2,064 left over after their Social Security income.
^^14. Willowick, Ohio: Lakeside Living
At Willowick, 17.2% of residents are seniors, and the livability score is 83. Median income is $74,138, with monthly mortgages at $1,061 leading to an annual cost of about $33,186. Couples can enjoy a leftover income of $1,089.
^^15. Mayville, North Dakota: A Small Town Vibe
Mayville, North Dakota, showcases a 14.7% senior population alongside a livability score of 81. The household median income is $64,044, and monthly mortgage costs approximately $1,070, resulting in a total cost of living around $33,250. Couples are left with $1,089 in annual earnings after social benefits.
For retirees looking to stretch their Social Security benefits, these cities not only provide affordability but also vibrant communities where one can enjoy their golden years. Enjoy a fulfilling retirement experience without breaking the bank.