The average Social Security retirement benefit for a retired worker is $1,837 a month, as of June 2023, according to the Social Security Administration. “Social Security is not meant to be your only source of income in retirement. On average, Social Security will replace about 40% of your annual pre-retirement earnings,” the SSA explains. Even so, in some of the nation’s metropolitan areas, that monthly Social Security check can go farther than others. (Also see: how much you need saved to retire comfortably in your state.)
To determine the cities where your Social Security check goes the farthest, 24/7 Wall St. reviewed data on retirement income from the U.S. Census Bureau and data on cost of living from the Economic Policy Institute 2022 Family Budget Calculator. Metropolitan areas where more than 31.1% of households receive Social Security were ranked based on average monthly household Social Security income as a percentage of estimated monthly living expenses for one person — that is, how much of the living expenses a Social Security check can cover.
The average of Social Security benefits covers at least 68% expenses in the 25 metropolitan areas on our list. The metro areas where Social Security benefits go the farthest are cities in the Midwest states of Michigan, Indiana, Illinois, Wisconsin, and Iowa, and in Florida. (These are the best places to retire in every state.)
Michigan has six cities on the list, the most of any state, including three in the top 10: Midland, Flint, and Monroe. Florida has three in the top 10 and five overall. The three Florida cities in the top 10 — The Villages, Sebastian-Vero Beach, Sebring-Avon Park — also rank among the top 10 metropolitan areas with the highest percentage of the population 65 years old and over.
Click here to see the best cities to live on social security alone.
Click here to read our detailed methodology.
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