Revealed: 20 US Cities that Offer the Best Value for your Social Security Income 

According to the Social Security Administration, the average monthly retirement benefit for retired employees is $1,837. However, it’s important to remember that Social Security was never intended to be the only source of income during retirement. On average, it will only replace around 40% of your pre-retirement income, as explained by the SSA. But the reality is that monthly Social Security payments can go further in certain metropolitan areas than in others.

To help you determine which cities offer the best value for your Social Security income, CEOWORLD magazine has conducted a comprehensive analysis. We collected retirement income data from the U.S. Census Bureau and compared it with the cost of living using the Economic Policy Institute’s 2022 Family Budget Calculator. 

Based on the results, we ranked metropolitan areas where over 31.1% of households receive Social Security benefits, considering the average monthly benefit as a percentage of estimated monthly expenses for a single person. In other words, we wanted to see how much of a person’s living expenses could be covered by their Social Security payment.

1. Midland, MI
   > Avg. Social Security benefits as a share of expenses: 78.7%
   > Avg. monthly Social Security income: $2,158
   > Avg. monthly living expenses: $2,744
   > Population 65 years and over: 20.5%

2. The Villages, FL
   > Avg. Social Security benefits as a share of expenses: 77.6%
   > Avg. monthly Social Security income: $2,357
   > Avg. monthly living expenses: $3,038
   > Population 65 years and over: 57.8%

3. Salisbury, MD-DE
   > Avg. Social Security benefits as a share of expenses: 73.8%
   > Avg. monthly Social Security income: $2,184
   > Avg. monthly living expenses: $2,959
   > Population 65 years and over: 26.5%

4. Flint, MI
   > Avg. Social Security benefits as a share of expenses: 72.9%
   > Avg. monthly Social Security income: $1,854
   > Avg. monthly living expenses: $2,544
   > Population 65 years and over: 18.9%

5. Pocatello, ID
   > Avg. Social Security benefits as a share of expenses: 72.5%
   > Avg. monthly Social Security income: $1,989
   > Avg. monthly living expenses: $2,745
   > Population 65 years and over: 15.4%

6. Cedar Rapids, IA
   > Avg. Social Security benefits as a share of expenses: 72.1%
   > Avg. monthly Social Security income: $1,960
   > Avg. monthly living expenses: $2,717
   > Population 65 years and over: 18.2%

7. Sheboygan, WI
   > Avg. Social Security benefits as a share of expenses: 71.9%
   > Avg. monthly Social Security income: $1,967
   > Avg. monthly living expenses: $2,734
   > Population 65 years and over: 20.1%

8. Sebastian-Vero Beach, FL
   > Avg. Social Security benefits as a share of expenses: 71.8%
   > Avg. monthly Social Security income: $2,198
   > Avg. monthly living expenses: $3,062
   > Population 65 years and over: 35.5%

9. Sebring-Avon Park, FL
   > Avg. Social Security benefits as a share of expenses: 71.4%
   > Avg. monthly Social Security income: $1,988
   > Avg. monthly living expenses: $2,786
   > Population 65 years and over: 35.8%

10. Monroe, MI
    > Avg. Social Security benefits as a share of expenses: 71.3%
    > Avg. monthly Social Security income: $2,022
    > Avg. monthly living expenses: $2,835
    > Population 65 years and over: 19.7%

11. Michigan City-La Porte, IN
    > Avg. Social Security benefits as a share of expenses: 71.2%
    > Avg. monthly Social Security income: $1,892
    > Avg. monthly living expenses: $2,659
    > Population 65 years and over: 19.4%

12. Tucson, AZ
    > Avg. Social Security benefits as a share of expenses: 70.9%
    > Avg. monthly Social Security income: $1,961
    > Avg. monthly living expenses: $2,765
    > Population 65 years and over: 21.2%

13. Racine, WI
    > Avg. Social Security benefits as a share of expenses: 70.3%
    > Avg. monthly Social Security income: $1,985
    > Avg. monthly living expenses: $2,823
    > Population 65 years and over: 18.2%

14. Waterloo-Cedar Falls, IA
    > Avg. Social Security benefits as a share of expenses: 70.1%
    > Avg. monthly Social Security income: $1,962
    > Avg. monthly living expenses: $2,798
    > Population 65 years and over: 18.5%

15. Lansing-East Lansing, MI
    > Avg. Social Security benefits as a share of expenses: 70.1%
    > Avg. monthly Social Security income: $2,012
    > Avg. monthly living expenses: $2,870
    > Population 65 years and over: 17.2%

16. North Port-Sarasota-Bradenton, FL
    > Avg. Social Security benefits as a share of expenses: 70.0%
    > Avg. monthly Social Security income: $2,235
    > Avg. monthly living expenses: $3,194
    > Population 65 years and over: 33.5%

17. Myrtle Beach-Conway-North Myrtle Beach, SC-NC
    > Avg. Social Security benefits as a share of expenses: 69.9%
    > Avg. monthly Social Security income: $2,125
    > Avg. monthly living expenses: $3,039
    > Population 65 years and over: 28.9%

18. La Crosse-Onalaska, WI-MN
    > Avg. Social Security benefits as a share of expenses: 69.9%
    > Avg. monthly Social Security income: $1,988
    > Avg. monthly living expenses: $2,846
    > Population 65 years and over: 19.1%

19. Springfield, IL
    > Avg. Social Security benefits as a share of expenses: 69.7%
    > Avg. monthly Social Security income: $2,016
    > Avg. monthly living expenses: $2,891
    > Population 65 years and over: 19.7%

20. Decatur, AL
    > Avg. Social Security benefits as a share of expenses: 69.5%
    > Avg. monthly Social Security income: $1,995
    > Avg. monthly living expenses: $2,871
    > Population 65 years and over: 18.4%

Have you read?
Ranked: Most Environmentally Friendly Countries in the World, 2023.
Report: Countries with highest numbers of child marriage, 2023.
Ranked: These Are The Best Museums in the United States, 2023.
Ranked: These Are the Countries with the Highest Kidnapping Rates, 2023.
Best High-Demand Products for Profitable Online Selling, 2023.
Top 20 wealthiest Owners in American sports, 2023.

This report/news/ranking/statistics has been prepared only for general guidance on matters of interest and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, CEOWORLD magazine does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.

Email Address*

Name