10 Best Places in Missouri for a Couple To Live on Only a Social Security Check
Missouri’s relatively low cost of living makes it a state to consider for retired couples getting by on just Social Security.
According to the most recent data from the Council for Community and Economic Research, living in the “Show Me State” costs about 10% less than the national average. Housing comes in 20% lower, groceries 7% lower and utilities 6% lower.
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This varies based on where in Missouri you live, of course. If you’re a retired couple on a Social Security-only budget, GOBankingRates has compiled a list of your best options.
To determine Missouri’s top 10 blends of Social Security-only affordability and strong livability, we’ve analyzed data from the U.S. Census, the Bureau of Labor Statistics, AreaVibes, Sperling’s Best Places and Zillow. We’ve also used data from the Social Security Administration for the average monthly benefit for a couple these days — just over $3,800.
There are other reasons besides affordability to consider Missouri for retirement. The state offers beautiful scenery and is a haven for hunting, fishing and other outdoor activities. It’s also reasonably tax-friendly for retirees.
Possible downsides? As is the case for many largely rural states, Missouri’s healthcare and public transportation options are lacking in some areas. High crime rates may also be an issue.
If you’re considering Missouri for retirement, here’s our top 10 list of livable locales that are within reach for most couples counting on just Social Security.
10. Knob Noster
Average rent: $970
Average total monthly cost of living: $2,344
Livability score: 73
Tiny Knob Noster — one of three locations in our list with sub-$1,000 average monthly rent — has the lowest livability score in our top 10. In addition to its affordability, though, this city of about 2,900 offers easy access to Knob Noster State Park, Truman Lake and the University of Central Missouri. St. Louis is located about an hour west by car.
9. Branson
Average rent: $1,222
Average total monthly cost of living: $2,600
Livability score: 75
Branson touts itself as the “Live Music Capital of the World” and has for many years been an entertainment center and popular tourist destination. Located about 45 miles south of Springfield in the Ozarks, Branson offers attractions such as the 76 Country Boulevard entertainment district, Silver Dollar City, Dolly Parton’s Stampede, the Titanic Museum and fishing on local lakes. The city’s full-time population has doubled this century and now stands at nearly 13,000.
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8. Kirkwood
Average rent: $1,499
Average total monthly cost of living: $2,970
Livability score: 79
Located just west of St. Louis, Kirkwood is home to about 30,000 residents. Its attractions include a dozen parks, a performing arts center, a farmers’ market and annual events such as the Route 66 Cars & Guitars Festival (June) and the Greentree Festival (September).
7. Creve Coeur
Average rent: $1,435
Average total monthly cost of living: $2,918
Livability score: 80
You’ll find Creve Coeur about 15 miles west of St. Louis. In addition to sub-$3,000 average rents, Creve Coeur offers six different parks, a 9-hole municipal golf course and an ice arena. About 19,000 people live here.
6. Webb City
Average rent: $897
Average total monthly cost of living: $2,297
Livability score: 76
Living in Webb City is cheap — it has the lowest average monthly rent and cost of living in our list. A retired couple living on just Social Security could cover basic expenses and still have about $1,500 left over each month. You’ll find Webb City and its roughly 13,000 residents in the southeast corner of the state, just northeast of Joplin.
5. Ballwin
Average rent: $1,824
Average total monthly cost of living: $3,311
Livability score: 84
You’ll pay more for rent and other living costs in Ballwin than you will in other cities on our list. Still, Ballwin’s average cost of living puts it within reach for many Social Security-only couples. Located just west of St. Louis, Ballwin offers five parks (including 31-acre Vlasis Park) and a 9-hole golf course. It has a population of about 31,000.
4. Richmond Heights
Average rent: $1,557
Average total monthly cost of living: $3,008
Livability score: 83
This St. Louis suburb has a motto of “Progress With Tradition.” Home to about 9,200 residents, Richmond Heights is right next to the big city and within financial reach for many cost-conscious retired couples. It also offers easy access to Interstate 64, Interstate 170 and U.S. Route 40.
3. Brentwood
Average rent: $1,650
Average total monthly cost of living: $3,092
Livability score: 85
You won’t mistake this Brentwood for the upscale Los Angeles neighborhood of the same name, but Missouri’s Brentwood combines a solid livability score with an average cost of living just over $3,000 a month. Another St. Louis suburb, Brentwood is located just west of Richmond Heights. Its 8,500 residents have easy access to eight different parks and year-round skating at the Brentwood Ice Rink.
2. Jefferson City
Average rent: $940
Average total monthly cost of living: $2,464
Livability score: 82
Missouri’s capital is located in the central part of the state, in between Kansas City and St. Louis. Jefferson City features a historic downtown with tree-lined streets. The state capitol building and the Missouri State Penitentiary Museum are among the biggest draws for tourists. Roughly 44,000 people live here.
1. Maplewood
Average rent: $1,039
Average total monthly cost of living: $2,486
Livability score: 86
Maplewood combines the highest livability score in our list with living costs well within reach for retired couples on Social Security-only budgets. This St. Louis suburb offers and up-and-coming foodie scene, brewpubs and a vintage bowling alley dating back to 1916, as well as a historic downtown. About 8,500 people make their home here.
Methodology: To find the best places in Missouri for a couple to live on only a Social Security check, GOBankingRates analyzed all the cities in Missouri for a variety of factors including cost-of-living indexes for groceries, healthcare, utilities, transportation and miscellaneous (all sourced from Sperling’s Best Places); the average expenditure costs for someone aged 65 or older (sourced from the Bureau of Labor Statistics Consumer Expenditure Survey); the December 2023 average rent cost (sourced from the Zillow Observed Rental Index); a livability index (sourced from AreaVibes); and the average Social Security benefits (sourced from the Social Security Administration’s December 2023 monthly statistical supplement.) The cost-of-living indexes and the average expenditure costs were used to find the average costs of living for expenditures within each city. Combining it with the average rent cost gave a total monthly cost of living for each city. GOBankingRates assumes both members of a couple apply for and receive full benefits, doubling the single-person average Social Security benefits per month. Taking out the cost of living for each city from the couple’s Social Security benefit determines the remaining savings for each month. All locations with a negative savings were removed. All locations with a livability score below 70 were removed. The average rent was scored and weighted at 1.00, the average expenditure cost total was scored and weighted at 1.00, and the livability index was scored and weighted at 1.50. All three scores were combined and sorted to show the best places in Missouri for a couple to live on only Social Security benefits. All data was collected and is up to date as of February 2, 2024.
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This article originally appeared on GOBankingRates.com: 10 Best Places in Missouri for a Couple To Live on Only a Social Security Check