If you are retiring on social security alone, finding a city with a low cost of living is important. Considering Monthly Income for US Retirees,Here 4 of the best cities in the country to live on just Social Security checks, According to financial blog figures insider monkey.
City affordability depends on individual circumstances and lifestyle choices.it’s always a good idea to Do your own research and consider your own budget When deciding when and where to retire.
Pittsburgh, Pennsylvania
Pittsburgh is a place for retirees. according to insider monkey, Rent in the city is 61.4% cheaper than New York, and the overall cost of living is 19.1% lower. In addition, the average cost of living support for the elderly is $3,250,in short That’s below the national average of $4,100.
Another plus for retirees is The state does not tax Social Security income or retirement account payments.
Cleveland, Ohio
Cleveland’s cost of living is 6% lower than the national average. median range of rents Between $959 and $2,075, This means that housing is 17% more affordable than the national average. In addition, groceries and clothing are also 4% cheaper overall.
Lincoln, Nebraska
8% cost of living in Lincoln lower than national average. However, retirees should note the following: The state does not offer deductions or exemptions for retirement income, except military retirement income.
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Madison, Wisconsin
according to insider monkey, The city has over 38 retirement communities and is popular with seniors like you have Many attractions and recreational activities for seniors. Overall, Madison provides quality living and medical care. but, housing costs are rising in the last few months.
