These U.S.
counties offer retirees a chance to stretch their benefit checks while enjoying
their golden years.
Maryalene LaPonsie • August 5,
2020
Some 21% of couples
collecting Social Security benefits and about 45% of those who are unmarried
rely on their Social Security checks for 90% or more of their income, says the Social Security Administration.
Retirees and pre-retirees
who plan to live on such limited incomes could do worse than to relocate to one
of these 10 counties where Social Security checks stretch furthest.
The website SmartAsset analyzed the average Social Security income
for each county, and how much a typical retiree would pay in taxes on that
income based on the Social Security tax rules in a given state. SmartAsset then
subtracted the taxes to arrive at Social Security net income.
SmartAsset calculated how
far such an income would go in every county to cover basic necessities,
subtracting county-level cost of typical living expenses from net Social
Security income. The results were then indexed to100, with that number
representing where Social Security goes furthest.
San Francisco came in
dead last — likely to no one’s surprise. Don’t move there if your income will
be tight beyond your Social Security check.
Three of the
most-affordable counties are in Texas. Most are in the middle of the country,
far from the more-expensive coasts, although Florida is represented.
All are very affordable.
We’ve ranked these counties starting with No. 10 and progressing to the most
affordable county for Social Security beneficiaries.
10. Antrim County, Michigan
Annual cost of living:
$18,523
Average annual Social Security income: $21,875
Index rating: 89.85
Antrim County, Michigan, has 280 square
miles of private and private forests and almost 20,500 acres of rivers and
lakes.
It’s a destination for
outdoor recreation throughout the year, according to the county’s website.
9. Hartley County, Texas
Annual cost of living: $20,126
Average annual Social Security income: $23,804
Index rating: 91.18
Hartley County, Texas,
had about 5,500 people in 2019, according to the
U.S. Census.
If you’re looking to get
away from the crowds, this might be the right retirement home for you.
8. Armstrong County, Texas
Annual cost of living: $18,811
Average annual Social Security income: $22,612
Index rating: 91.68
Armstrong County, in the
northern part of Texas, was long the home to American Indian tribes, including
Apaches and then Comanches, according to the Texas
Historical Society.
When the natives lost the
fight for the territory, Anglo-American ranchers and settlers moved in. The
county is still sparsely populated, the society says.
7. Thomas County, Kansas
Annual cost of living: $18,754
Average annual Social Security income: $22,616
Index rating: 91.93
Thomas County, Kansas, in
the northwestern corner of the state, is in a region that previously was a
hunting grounds for migratory tribes, according to the county’s website.
The railroads played a
powerful role in bringing settlers to the region. “The Union Pacific arrived in
1887, and by 1888, three different lines of the Union Pacific and the Rock
Island were operating,” the county says.
6. Coleman County, Texas
Annual cost of living: $19,001
Average annual Social Security income: $23,653
Index rating: 95.15
Coleman County is home to
a little more than 8,000 people, according to the Texas Historical
Society’s Texas Almanac.
Coleman is an
agricultural county. Fishing and hunting are among the recreational activities.
5. Custer County, Colorado
Annual cost of living:
$19,252
Average annual Social Security income: $24,583
Index rating: 95.55
You’ll find beautiful
scenery and few neighbors in Custer County, Colorado. The towns of Silver Cliff
and Westcliffe and famous for their
dark, starry skies and mountain vistas.
This Colorado region is a
popular destination for outdoor enthusiasts.
4. Box Butte County, Nebraska
Cost of living: $18,332
Average annual Social Security income: $23,845
Index rating: 95.84
Head to this Nebraska
county to find a fine community for stretching your Social Security dollars.
Box Butte County,
established in 1886, earned its distinctive name from a nearby box-shaped
butte, a flat-topped hill.
Rural living on the Great
Plains isn’t for everyone: the winters can be harsh. But if you’re looking for
small towns, quiet neighborhoods and a slower pace of living, one of Box
Butte’s communities may be right for you.
3. Sumter County, Florida
Cost of living: $20,099
Average annual Social Security income: $25,334
Index rating: 97.53
Florida’s only entry on
this list, Sumter County is about an hour’s drive
west of Orlando.
It has numerous
communities, including The Villages, a community famed as home to many active
retirees.
2. Wahkiakum County, Washington
Cost of living: $18,222
Average annual Social Security income: $23,644
Index rating: 98.29
A common theme among the
places where Social Security goes the furthest is that most cheap counties are
rural ones. Wahkiakum County, in Washington state, is among them.
It is the second-smallest
county in the state, population-wise.
What it lacks in
population it makes up for with beautiful settings, particularly in its
communities along the Columbia River.
1. Storey County, Nevada
Cost of living: $19,963
Average annual Social Security income: $25,804
Index rating: 100
Storey County, Nevada,
offers a beautiful, inexpensive environment for retirement life.
If you crave bright
lights and a faster life, you need only visit nearby Reno, with its casinos and
ski resorts.
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