15 Best Places in Florida for a Couple To Live Only on Social Security
Florida has a reputation as being a haven for senior citizens, and why not? The state has plenty to offer, from beautiful beaches and amazing seafood to cities with a wide range of personalities and cultures. One of the biggest perks about living in the state, however, is its affordability. Although big cities like Miami can be more expensive, there are plenty of options where seniors can enjoy the magical combination of low costs and high livability.
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To help determine which Florida cities are good picks for couples living on Social Security, GOBankingRates sourced data from a variety of sources to compare the costs of groceries, healthcare and rent to both the national averages and the average Social Security benefit paid to couples. For purposes of the study, the national average monthly costs for groceries and healthcare were $374.75 and $585.83, respectively, or double that amount for couples. In 2021, the average one-bedroom rent in Florida was $1,954.00. Meanwhile, the average Social Security benefit as of January, 2023 was $1,632.04, or $3,264.08for a couple.
In addition to these hard numbers, livability scores were also factored in to generate a ranking of the best places in Florida for a couple to live only on Social Security. Results are presented in reverse order, with the best overall city coming last.
15. Callaway
Monthly expenditures: $2,689.68
2022 1-bedroom rent: $1,398
Livability: 68
In Callaway, healthcare costs are less than a full percent below the national average, and grocery costs are 2.4% above average as well. However, one-bedroom rents remain $556 below the national average.
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14. Inverness
Monthly expenditures: $2,699.61
2022 1-bedroom rent: $1,396
Livability: 70
Inverness maintains a good livability score of 70. Grocery costs are a bit high here, at $382.25 per month, but this is countered by healthcare costs which are $570.60 per month, which are 2.6% lower than the national average.
13. Zephyrhills
Monthly expenditures: $2,969.55
2022 1-bedroom rent: $1,651
Livability: 78
Zephyrhills has a high livability score, though not even the highest on this list. Costs run a bit higher here than the national average. Groceries are 2.1% higher, healthcare 2.2% higher and utilities 103.2% higher.
12. Titusville
Monthly expenditures: $2,963.67
2022 1-bedroom rent: $1,693
Livability: 78
Titusville's high livability score doesn't even come at a higher cost than other cities in Florida. Groceries are 1.4% lower than the national average, healthcare is barely a percent lower and utilities are 3.3% lower.
11. Lake Wales
Monthly expenditures: $2,815.61
2022 1-bedroom rent: $1,495
Livability: 74
Lake Wales is also a great place for couples to live off a Social Security check. A couple can expect to pay around $382.25 per month in groceries, which is lower than national average, and $591.11, which is a tiny bit higher than average.
10. Brooksville
Monthly expenditures: $2,783.74
2022 1-bedroom rent: $1,479
Livability: 74
Brooksville has both a high livability score and low rents, but groceries cost 2.6% above the national average. Healthcare costs are above-average as well by about 3.2%.
9. Bartow
Monthly expenditures: $2,942.88
2022 1-bedroom rent: $1,627
Livability: 79
In Bartow, the cost of a 1-bedroom is several hundreds dollars less than the national average. However, groceries, healthcare and utilities are all a bit higher than average.
8. Lakeland
Monthly expenditures: $3,016.08
2022 1-bedroom rent: $1,720
Livability: 82
If livability is your primary concern, Lakeland ranks quite high. Great livability comes at a slightly higher cost here than other cities in overall expenditures, but the monthly rent is several hundred dollars lower than national average. Groceries are slightly higher, as well, though other expenses are slightly lower.
7. Winter Haven
Monthly expenditures: $2,934.49
2022 1-bedroom rent: $1,625
Livability: 80
Though Winter Haven's livability is high and its monthly expenditures overall decent, the key expenses are just slightly higher than the national average.
6. Largo
Monthly expenditures: $3,091.07
2022 1-bedroom rent: $1,749
Livability: 85
Largo boasts the highest livability score on this list, but grocery costs are 4.4% higher, healthcare is 3.7% higher, and utilities are 5.2% higher.
5. Eustis
Monthly expenditures: $2,964.77
2022 1-bedroom rent: $1,721
Livability: 82
Eustis has a mixed bag when it comes to expenses. Groceries are almost right at the national average, but healthcare is just 1.2% higher than average.
4. Pine Castle
Monthly expenditures: $2,837.22
2022 1-bedroom rent: $1,085
Livability: 68
Pine Castle has the lowest rent on this list. While its livability isn't quite as high as some of the other cities, its grocery costs are lower than average, too.
3. Altamonte Springs
Monthly expenditures: $1,666
2022 1-bedroom rent: $2,985.78
Livability: 85
In Altamonte Springs, where the livability is quite high, the monthly rent is lower than average and the grocery costs are slightly lower than average. Healthcare costs are 3.4% higher than average and utilities are 3.1% higher than average.
2. South Daytona
Monthly expenditures: $2,876.34
2022 1-bedroom rent: $1,588
Livability: 83
Groceries and utilities are both lower than the national average here in South Daytona. It's high livability and lower than average rent have given it the no. 2 spot on this list.
1. Crystal River
Monthly expenditures: $2,746.58
2022 1-bedroom rent: $1,438
Livability: 81
Crystal River tops all Florida cities as having the lowest monthly expenditures while still having a good livability score. Even though grocery costs in Crystal River are about 3% above average, other expenses are so low -- particularly the cost to rent a one-bedroom apartment -- that the city still comes out on top.
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John Csiszar contributed to the reporting for this article.
Methodology: GOBankingRates determined the best cities in Florida for a couple to live on only a Social Security check based on the average monthly benefit for retired workers, $1,632.04 ($3,2604 for a couple), sourced from Social Security Administration. GOBankingRates first isolated all cities in Florida with a 2022 average monthly rent under $1,750. GOBankingRates then used Sperling's Best to find the cost of living index for each listed city, looking at grocery and healthcare index scores. Next, GOBankingRates used data from the Bureau of Labor Statistics 2021 Consumer Expenditure Survey to find the annual expenditure amount for both grocery ("food at home") and healthcare costs for people aged 65 and older in order to find how much a couple 65 and over would spend on groceries and healthcare in each city on a monthly basis. GOBankingRates then added monthly housing, grocery, and healthcare costs together to find where a couple65 and older could survive on their Social Security or less. In order for a city to be qualified for the study the city had to have a livability score above 65 as sourced from AreaVibes. GOBankingRates scored and combined both livability and monthly necessities expenditure, with the lowest score being best, to determine final rankings. All data was collected and is up to date as of January 3, 2023.
This article originally appeared on GOBankingRates.com: 15 Best Places in Florida for a Couple To Live Only on Social Security
