If you are thinking of moving to a different place in the United States because your Social Security benefit is not enough, avoid these places. There are places that are very expensive and others that are not worth it for various reasons. In this regard, you can choose a city where you can live well on your Social Security.
Therefore, this list of cities that are bad to live in with only your Social Security serves to avoid making mistakes. It is true that the final decision is totally personal, apart from uncontrollable circumstances. But if we have information regarding the least recommended cities, the decision will be easier to make.
Top 5 worst places to live with Social Security alone
This list is based on information provided by MoneyTalks. The cities on the list have been chosen for economic reasons, but also for livability. If you live on Social Security alone, try to avoid these places and look for a state where you don’t pay taxes on your benefit.
Washington, D.C.: With an average annual cost of $30,967, this is not a cheap city to live in. The average Social Security benefit in this city is $17,174, which means there is a $13,793 amount that most of its residents can’t afford. If your annual benefit does not reach the above figure, try not to live in this city.
Marin County, California: The average annual expense is $36,956 in Marin County. Expenses not covered by the average Social Security benefitare $13,996, as the benefit amount in this city is about $22,960 per year. It is not possible to live on the average retirement benefit of $1,666 that most retirees have.
Bronx, New York: Despite having a lower average expense than the other places on the list at $29,859 per month, there is something else to consider. Livability is not commensurate with the amount of money it costs to live here. For that reason, it’s best to avoid this place, in addition to economic reasons.
San Mateo, California: In the city of San Mateo the average cost of living per year increases to $37,624. This makes most retirees on Social Security unable to afford all the expenses. However, it is a very good city to live in, although the economic level required is really high.
San Francisco, California: Not the most expensive on the list, but it does have the lowest average Social Security. This makes the average expenses of $36,553 seem higher. San Francisco is a great city, yes, but too expensive for the pockets of most retirees who only have their benefit.