The 10 Worst Big Cities To Live On Just a Social Security Check

Retirement is often seen as a time to relax and enjoy life, but for many Americans, it comes with significant financial challenges. A large number of retirees rely solely on Social Security benefits to make ends meet. In March 2024, the average Social Security payment stood at $1,865 per month, which amounts to less than $22,400 annually. This modest income makes it difficult for seniors to live comfortably in cities with high costs of living (COL). This article highlights 24 major U.S. cities where retirees may struggle to cover basic living expenses on Social Security alone.

The Financial Reality of Living on Social Security Alone

For many retirees, Social Security is the primary or sole source of income. While the program provides a necessary safety net, the average benefit often falls short of covering the costs associated with living in larger cities. Housing, healthcare, and everyday expenses can easily exceed monthly Social Security payments, leaving little room for unexpected costs or savings.(This list based on gobankingrates.com Article

Factors Affecting Livability for Retirees

Several factors determine whether a city is livable for retirees on fixed incomes. These include:

• Livability Score: A measure of how comfortable and suitable a city is for retirees, including safety, access to healthcare, and amenities.
• Mortgage Costs: The average monthly payment for homeowners in each city.
• Average Expenditure Costs: The total amount retirees need to spend on necessities like housing, food, transportation, and utilities.
• Cost of Living (COL): The overall expense of living in a city, compared to the national average.

1. Detroit, Michigan

• Livability Score: 73
• Average Mortgage Cost: $424.25
• Average Expenditure Cost: $1,728.12
• Cost of Living (COL): $2,152.37

Though Detroit is relatively affordable compared to other cities on this list, it still poses financial challenges for retirees relying solely on Social Security. Despite having one of the lowest mortgage costs, other expenses make it tough to get by.

2. Cleveland, Ohio

• Livability Score: 71
• Average Mortgage Cost: $615.86
• Average Expenditure Cost: $2,372.69
• COL: $2,372.69

Cleveland, known for its cultural history, offers a slightly lower cost of living than many big cities. However, expenses still exceed average Social Security payments, making it a difficult place for retirees with limited income.

3. El Paso, Texas

• Livability Score: 80
• Average Mortgage Cost: $1,345.65
• Average Expenditure Cost: $1,724.75
• COL: $3,070.40

El Paso boasts a livability score of 80 and is about 10% cheaper than the national average. Despite these positives, retirees may still find it challenging to manage living expenses solely on Social Security.

4. St. Louis, Missouri

• Livability Score: 74
• Average Mortgage Cost: $1,041.13
• Average Expenditure Cost: $1,785.21
• COL: $2,826.34

While St. Louis is known for its historical attractions and relatively good livability, the cost of living remains high, making it hard for retirees on Social Security to sustain themselves.

5. Lexington, Kentucky

• Livability Score: 86
• Average Mortgage Cost: $1,825.57
• Average Expenditure Cost: $1,788.44
• COL: $3,614.01

Lexington scores the highest livability on this list, but the city’s high cost of living makes it one of the most expensive places for retirees on a fixed income.

6. Baltimore, Maryland

• Livability Score: 75
• Average Mortgage Cost: $1,100.43
• Average Expenditure Cost: $1,818.50
• COL: $2,918.93

With nearly 15% of Baltimore’s population aged 65 or older, the city offers some amenities for retirees. However, the cost of living, particularly housing, makes it difficult for those on Social Security.

7. Memphis, Tennessee

• Livability Score: 69
• Average Mortgage Cost: $884.14
• Average Expenditure Cost: $1,801.30
• COL: $2,685.44

Memphis is 13% cheaper than the national average but still ranks as one of the tougher cities for retirees due to its relatively low livability score and substantial living expenses.

8. San Antonio, Texas

• Livability Score: 81
• Average Mortgage Cost: $1,567.13
• Average Expenditure Cost: $1,802.65
• COL: $3,369.78

San Antonio is a popular city for its cultural richness, but retirees relying solely on Social Security may find the cost of living unsustainable.

9. Cincinnati, Ohio

• Livability Score: 80
• Average Mortgage Cost: $1,455.16
• Average Expenditure Cost: $1,816.62
• COL: $3,271.78

Though the cost of living in Cincinnati is about 4% below the national average, it remains high for retirees dependent on Social Security.

10. Indianapolis, Indiana

• Livability Score: 77
• Average Mortgage Cost: $1,375.78
• Average Expenditure Cost: $1,814.82
• COL: $3,190.61

Indianapolis, often referred to as the “Crossroads of America,” has a high cost of living, making it difficult for retirees to live comfortably on just Social Security.

Conclusion: The Challenge of Urban Retirement on Social Security

While these cities offer various benefits in terms of culture, amenities, and livability, the cost of living can be overwhelming for retirees depending solely on Social Security benefits. The rising expenses for housing, healthcare, and basic needs make it essential for retirees to carefully choose where they live. For those with little to no savings, smaller cities or rural areas with lower living costs may be more suitable options.

Before deciding where to retire, it’s crucial to consider all financial aspects to ensure a comfortable and sustainable retirement.