Retirement is a time for relaxation and enjoyment, and retirees often seek to balance affordable living with safety and security.
Fortunately, it is possible for retired couples living on Social Security benefits to find cities that provide both.
A recent study by GOBankingRates has identified the top 10 U.S. cities where you can stretch your retirement dollars without compromising safety.
These cities offer retirees the peace of mind they deserve and are perfect places to enjoy the golden years.
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Social Security: Balancing Affordable Living with Safety
Retired couples receiving an average monthly Social Security benefit of around $3,580 may wonder if it’s possible to find cities that fit their budget without sacrificing safety.
The good news is that some cities offer affordable living without compromising on security.
To determine these cities, GOBankingRates considered a range of factors, including data from the US Census American Consumer Survey, the FBI’s Crime Data Explorer for Offenses Known to Law Enforcement, cost-of-living indexes from Sperling’s Best Places, the Bureau of Labor Statistics Consumer Expenditure Survey, and the Zillow Observed Rental Index, along with data from the Social Security Administration.
The study weighted and ranked cities based on these factors, ultimately revealing the top 10 cities where retired couples can enjoy safe and affordable living.
Athens, Ohio
Monthly Total Expenditures + Average Rent: $2,530.51
Violent Crime Rate per 100,000: 109.59
Property Crime Rate per 100,000: 2,086.21
Total Score: 3.11612
Athens, home to Ohio University, offers reasonable monthly expenditures and boasts the fourth-lowest violent crime rate on the list, making it an attractive option for retirees living on Social Security benefits.
Winona, Minnesota
Monthly Total Expenditures + Average Rent: $2,391.55
Violent Crime Rate per 100,000: 279.82
Property Crime Rate per 100,000: 2,325.49
Total Score: 3.11900
Situated along the Mississippi River in southeast Minnesota, Winona provides a cost-effective lifestyle, with average monthly expenditures, and is home to approximately 26,000 residents.
Fairfield, Iowa
Monthly Total Expenditures + Average Rent: $2,632.51
Violent Crime Rate per 100,000: 141.40
Property Crime Rate per 100,000: 1,206.64
Total Score: 3.12094
With its burgeoning startup community and small-town charm, Fairfield offers a cost-effective living experience for retirees, making it a perfect place to enjoy retirement.
Tahlequah, Oklahoma
Monthly Total Expenditures + Average Rent: $2,598.48
Violent Crime Rate per 100,000: 204.37
Property Crime Rate per 100,000: 1,144.46
Total Score: 3.12536
Tahlequah, the capital of the Cherokee Nation, provides retirees with an affordable lifestyle and is rich in cultural history.
Fergus Falls, Minnesota
Monthly Total Expenditures + Average Rent: $2,391.60
Violent Crime Rate per 100,000: 174.03
Property Crime Rate per 100,000: 2,675.66
Total Score: 3.12798
Fergus Falls, located in Western Minnesota, offers retirees an economical living experience, with its average monthly expenditures being one of the lowest on the list.
Elyria, Ohio
Monthly Total Expenditures + Average Rent: $2,535.81
Violent Crime Rate per 100,000: 249.03
Property Crime Rate per 100,000: 1,362.23
Total Score: 3.12900
Elyria, a Cleveland suburb with a population of about 53,000, offers retirees an affordable lifestyle with low expenses for groceries, healthcare, utilities, and transportation.
Rexburg, Idaho
Monthly Total Expenditures + Average Rent: $2,778.49
Violent Crime Rate per 100,000: 39.86
Property Crime Rate per 100,000: 421.86
Total Score: 3.14179
Rexburg, known for its low crime rates, provides retirees with peace of mind, even though it ranks as the most expensive city on the list.
Parma, Ohio
Monthly Total Expenditures + Average Rent: $2,636.74
Violent Crime Rate per 100,000: 159.64
Property Crime Rate per 100,000: 733.84
Total Score: 3.16143
Another Cleveland suburb, Parma, offers retirees a secure environment with low property crime rates and monthly expenditures that align with a Social Security budget.
Stevens Point, Wisconsin
Monthly Total Expenditures + Average Rent: $2,508.85
Violent Crime Rate per 100,000: 100.48
Property Crime Rate per 100,000: 1,182.61
Total Score: 3.23579
In central Wisconsin, Stevens Point is an age-friendly city that provides retirees with an affordable lifestyle and one of the lowest violent crime rates.
Ashland, Ohio
Monthly Total Expenditures + Average Rent: $2,459.39
Violent Crime Rate per 100,000: 105.43
Property Crime Rate per 100,000: 1,079.37
Total Score: 3.28244
Ashland, situated in north-central Ohio, takes the top spot on the list for its unbeatable quality of life, offering one of the lowest average monthly living costs among the cities in the study, along with low crime rates.
Retirement should be a time of relaxation and enjoyment, and these top 10 U.S. cities provide retired couples living on Social Security benefits with the opportunity to experience both affordable living and safety.
With reasonable living costs and low crime rates, these cities offer the perfect blend for retirees looking to make the most of their retirement years.
Whether you seek a charming small town or the amenities of a suburb, there is a city on this list for everyone. Retirement is about embracing the joys of life, and these cities provide the ideal backdrop for that well-deserved chapter of relaxation and happiness.
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Source: Go Banking Rates
