25 Cities Where Your Social Security Will Cover the Rent
Although having a million-dollar nest egg waiting for you when you retire would be ideal, that’s not the reality for a majority of Americans. In fact, many retirees depend greatly on their Social Security income every month — and rent usually takes out a huge chunk of that.
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The average Social Security check comes out to $1,781.63, whereas the average rent in the country costs almost $200 more at $1,976 per month, according to Zillow’s 2023 figures. That’s why seeking out the most affordable places to live should be part of your retirement strategy. Instead of rent devouring your check each month, you could actually have some money left over.
To help retirees — and soon-to-be retirees — determine 25 cities where the average Social Security benefit will cover rent, GOBankingRates analyzed median rent costs in 300 of the largest U.S. cities. These are the best places to retire in the U.S. when you’re on a tight budget.
25. Roanoke, Virginia
Average monthly rent in 2023: $1,211.95
Difference between Social Security and rent (February 2023): $569.68
Livability score: 75
After paying rent each month, Roanoke retirees will have about $570 left over from their Social Security check, and they won’t have to spend a dime of it for entertainment. Roanoke has plenty of free things to do, from hiking the Appalachian Trail to playing disc golf to viewing public art to stargazing and to traveling the Blue Ridge Parkway, which is known as “America’s Favorite Drive.”
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24. Lincoln, Nebraska
Average monthly rent in 2023: $1,196.53
Difference between Social Security and rent (February 2023): $585.10
Livability score: 78
Lincoln has the highest livability score in the study, perhaps owing to its mix of being an urban community with a rural feel. If retirees want to gather with people their own age, Lincoln has a network of senior centers offering classes, camaraderie and other activities. Or go to a University of Nebraska football game, stroll along the brick streets of the Historic Haymarket District or enjoy the peace of the Sunken Gardens.
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23. Birmingham, Alabama
Average monthly rent in 2023: $1,186.38
Difference between Social Security and rent (February 2023): $595.25
Livability score: 65
Even with its low cost of living, retirees will find plenty of amenities in Birmingham, such as a dozen hospitals, the 10,000-acre Oak Mountain State Park, a selection of golf courses and a revitalized downtown area, including the eight-block Railroad Park. In addition, there’s no tax on Social Security benefits in Alabama, which is a plus for retirees.
22. Sioux Falls, South Dakota
Average monthly rent in 2023: $1,181.34
Difference between Social Security and rent (February 2023): $600.29
Livability score: 70
Sioux Falls is yet another city with a livability score of 70 or higher. Retirees will have $600 left from the Social Security check at the end of the month, and SiouxFalls.com reports that living in the city costs lower than the national average in six key categories, including utilities and transportation. As a bonus, South Dakota has no state personal income tax.
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21. Montgomery, Alabama
Average monthly rent in 2023: $1,166.29
Difference between Social Security and rent (February 2023): $615.34
Livability score: 65
Montgomery is an area steeped in 200 years of history. Plenty of museums and historical sites are located within the city, which features a walkable downtown district, and outdoor activities such as biking and hiking abound. Once retirees pay their rent in Montgomery, they’ll have approximately $615, on average, left from their Social Security check.
20. Tulsa, Oklahoma
Average monthly rent in 2023: $1,163.09
Difference between Social Security and rent (February 2023): $618.54
Livability score: 62
Maybe the biggest advantage to living in Tulsa is the variety of things to see and do. Tulsa has extensive outdoor spaces, and one of them is Gathering Place, a free place where retirees can take their grandkids when they visit. It’s a riverfront park with climbing toys, paddle boards and even live music and other performances. Or, meet friends to take a walking tour of downtown and pass through some of the city’s underground tunnels.
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19. Milwaukee, Wisconsin
Average monthly rent in 2023: $1,161.79
Difference between Social Security and rent (February 2023): $619.84
Livability score: 61
Retirees in Milwaukee never will grow bored. The city has a variety of golf courses and parks, plus performing arts galore. Beer lovers, and even non-drinkers, will appreciate Milwaukee’s heritage as the “Beer Capital of the World,” given its ties to the Miller, Schlitz, Pabst – and more – breweries, even as it transitions to the craft brewing business. This history is everywhere, including the Pabst Mansion, now a museum, and the elegant Pabst Theater.
18. Columbus, Georgia
Average monthly rent in 2023: $$1,153.96
Difference between Social Security and rent (February 2023): $627.67
Livability score: 60
Located along the Chattahoochee River, Columbus is a dream destination for active retirees. The city features the Chattahoochee RiverWalk, which is a downtown path that stretches for 15 miles — perfect for walking and biking. In addition, there are a variety of quality golf courses you can visit. After paying the rent each month, retirees in Columbus will have about $628 remaining, on average, from their Social Security check.
17. Mobile, Alabama
Average monthly rent in 2023: $1,141.52
Difference between Social Security and rent (February 2023): $640.11
Livability score: 63
Mobile is appealing to retirees who enjoy waterfront living. The city has easy access to various hunting and fishing areas, and some of the Gulf Coast’s most beautiful beaches are within a short driving distance. For retirees looking to give back to the community, Mobile County has ways for seniors to volunteer, including the Foster Grandparents program, which allows retirees to make a positive difference in children’s lives through tutoring, mentoring and helping to build social skills.
16. Columbia, Missouri
Average monthly rent in 2023: $1,125.34
Difference between Social Security and rent (February 2023): $656.29
Livability score: 69
The locals simply refer to Columbia as CoMo, and retirees will find it filled with nature areas, parks and trails. It’s also a haven for foodies, and some of CoMo’s bars and restaurants will welcome retirees’ pooches to the establishments’ patios. And if the retirees are just moving to the city, they can learn about its history at the Boone County History & Culture Center and by visiting “The Big Tree,” which is 90 feet tall, at least 350 years old and on the National Registry of Big Trees.
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15. Fort Wayne, Indiana
Average monthly rent in 2023: $1,120.73
Difference between Social Security and rent (February 2023): $660.90
Livability score: 75
Active seniors will enjoy what Fort Wayne has to offer. For example, the city has 86 public parks spanning 2,805 acres, as well as a 25-mile riverfront walking and biking trail – all contributing to the high livability score. Fort Wayne also has its own symphony orchestra and three minor league sports teams, and it’s often voted among the best minor league sports cities in the country. Some of that nearly $661 left over from Social Security after the rent is paid could pay for a ticket.
14. Little Rock, Arkansas
Average monthly rent in 2023: $1,100.35
Difference between Social Security and rent (February 2023): $680.28
Livability score: 64
Retirees who are history buffs will appreciate living in Little Rock, Arkansas’ state capital. That’s where Bill Clinton worked as governor before being elected the 42nd president of the United States and, fittingly, retirees can visit his presidential library and museum there. Plus, they can head to the north side of the Arkansas River and touch the real “little” rock that inspired the city’s name.
13. Des Moines, Iowa
Average monthly rent in 2023: $1,100.35
Difference between Social Security and rent (February 2023): $681.28
Livability score: 75
Residents of Des Moines boast that it has a big-city feel without the problems of a big city. With a livability score of 75, Des Moines offers plenty of amenities for retirees. The parks and recreation department sponsors programs including billiards, ceramics and the Senior Striders Walking Club, which is open weekday mornings in a climate-controlled environment. Iowa also doesn’t tax Social Security.
12. Shreveport, Louisiana
Average monthly rent in 2023: $1,068.73
Difference between Social Security and rent (February 2023): $712.90
Livability score: 65
Shreveport is in a unique situation: It’s located next to Bossier City, Louisiana, and together, the two cities are able to offer amenities found in much larger metro areas without the hassle of insufferable traffic. Retirees enjoy high-quality healthcare, arts and culture, as well as over 55 annual festivals and events, including one of the largest outdoor arts festivals in the South.
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11. Toledo, Ohio
Average monthly rent in 2023: $1,068.49
Difference between Social Security and rent (February 2023): $713.14
Livability score: 62
Compared to other Ohio metro areas, the cost of living in Toledo is relatively low. So low, in fact, that it showed up as one of the cheapest cities to live in across the country, according to a separate GOBankingRates study. Toledo is just a short drive from other major Great Lakes metro areas like Detroit and Cleveland.
10. Lake Charles, Louisiana
Average monthly rent in 2023: $1,053.59
Difference between Social Security and rent (February 2023): $728.04
Livability score: 70
After paying rent in Lake Charles, retirees have an average of $728 left each month, and they won’t need to spend it at a local casino to have fun. Instead, they can walk and window shop in downtown Lake Charles, play golf all year, explore the 26 miles along the Gulf of Mexico while driving the Creole Nature Trail All-American Road, or sample the local fare -Jambalaya, spicy crawfish and bread pudding, included.
9. Lansing, Michigan
Average monthly rent in 2023: $1,046.87
Difference between Social Security and rent (February 2023): $734.76
Livability score: 66
If festivals, fairs and outdoor community gardens appeal to retirees, Lansing might be the perfect destination. In addition to its affordability, the city also features a number of bike lanes and a large walking trail system. When the weather isn’t so hospitable, indoor entertainment venues are available, such as the Wharton Center for Performing Arts, which hosts Broadway performances, jazz concerts and more.
8. Erie, Pennsylvania
Average monthly rent in 2023: $1,041.18
Difference between Social Security and rent (February 2023): $740.45
Livability score: 63
Erie, which sits along Lake Erie, is an ideal location in terms of proximity to bigger cities if retirees want easy access to things like pro sports, major museums or attractions, and, of course, Niagara Falls. It’s almost equidistant between Cleveland to the west and Buffalo, New York, to the east – about one hours, 40 minutes to either. There’s plenty to do in Erie, too, starting with Presque Isle State Park, a peninsula that juts into Lake Erie.
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7. Abilene, Texas
Average monthly rent in 2023: $996.08
Difference between Social Security and rent (February 2023): $785.55
Livability score: 75
Abilene got its start as a stop on the T&P Railway and now is an ideal place for retirees when it comes to the cost of living. It is the first city in the GOBankingRates with an average monthly rent of less than $1,000, leaving almost $800 each month for retirees. The city in West-Central Texas embraces its historic past and modern present with a motto of “Culture, Cuisine & Cowboys” on its Visitors and Convention Bureau website.
6. Topeka, Kansas
Average monthly rent in 2023: $992.56
Difference between Social Security and rent (February 2023): $789.07
Livability score: 61
In Topeka, an abundance of parks and trails awaits, including unused railroad lines that have been converted into nature trails. The city also is home to Kaw River State Park — the only urban park in Kansas.
5. Akron, Ohio
Average monthly rent in 2023: $992.03
Difference between Social Security and rent (February 2023): $789.60
Livability score: 63
Retirees don’t have to sacrifice culture for their budget if they decide to live in Akron. The city boasts its own symphony orchestra that will make its 70th anniversary in 2023, and it offers a variety of food, wine and art events. They also can visit the Stan Hywet Hall & Gardens, which hosts more than 70 acres of grounds and gardens, It is the former estate of F.A. Seiberling, who co-founded the city’s Goodyear Tire & Rubber Co.
4. Canton, Ohio
Average monthly rent in 2023: $990.04
Difference between Social Security and rent (February 2023): $791.59
Livability score: 64
After retirees pay rent in Canton, they’ll have just short of $800 remaining, on average, from their Social Security check each month. Home to the Pro Football Hall of Fame, the city also features art museums, theaters and wineries, as well as a unique local restaurant scene. For retirees who love the outdoors, the region has a wide network of trails and various parks, including 40 parks and 10 mini-parks within Canton itself. For the history buffs, it is home to the McKinley Presidential Library & Museum, commemorating the 25th president of the United States.
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3. Cedar Rapids, Iowa
Average monthly rent in 2023: $970.74
Difference between Social Security and rent (February 2023): $810.89
Livability score: 76
Cedar Rapids continues to show up on “best of” lists, including GOBankingRates’ recent study of The Best Places in the US To Live on a Fixed Income. Even though retirees will have, on average, more than $800 left each month after paying the rent, Cedar Rapids have plenty of free things to do. One of them is visiting the Grant Wood Studio, which is open on weekends nine months of the year and offers free admission. The studio is where Iowa native Wood painted many of his works, including his most famous, “American Gothic,” in 1930.
2. Edinburg, Texas
Average monthly rent in 2023: $966.77
Difference between Social Security and rent (February 2023): $814.86
Livability score: 77
Edinburg’s livability score is one of the highest in the study, and that can be attributed, in part, to its cost of living – less than $1,000 per month in average rent. In the southern part of Texas and not far from the Mexico border, Edinburg is warm – even downright hot – year-round. Retirees who like it hot will love settling in the Rio Grande Valley. And if it gets a bit too toasty, they can pop into one of the 130 restaurants or 80 stores to enjoy the air conditioning while they dine or shop.
1. Wichita, Kansas
Average monthly rent in 2023: $965.46
Difference between Social Security and rent (February 2023): $816.17
Livability score: 60
Retirees who are searching for a relatively inexpensive place to settle down might want to consider Wichita. For people who want to stay active, Wichita’s local government has made steps toward becoming a more bike-friendly city by installing designated bike lanes. In addition, there are approximately 100 miles of scenic, recreational bike pathways throughout the region.
Jami Farkas contributed to the reporting of this article.
Methodology: GOBankingRates analyzed the average 2023 median rent listings in the 300 largest U.S. cities in terms of population to determine the 25 cities where your Social Security will cover the rent. GOBankingRates first found the average 2023 median rent in each city by taking the median monthly rent listings, sourced from Zillow, for the months of January 2023 through February 2023. This annual average rent was then compared to the average Social Security benefit check of $1,781.63. The top 25 cheapest annual rents under $1,781.63 were then included in the ranking. The city had to have a livability score above 60 as sourced from Areavibes. All data was collected and is up to date as of April 3, 2023.
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This article originally appeared on GOBankingRates.com: 25 Cities Where Your Social Security Will Cover the Rent