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25 Southern ZIP Codes Where $500K in Retirement Savings Lasts the Longest

October 21, 2024

9 min Read

Written by Nicole Spector

Edited by Gary Dudak

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No matter where you live, you need an ample retirement savings nest egg. However, how much you need depends on where you live. If you’re living in a reasonably affordable ZIP code, a plush nest egg of $500,000 can last you many years.

To determine how long $500,000 in retirement savings will last you in select areas of the South (where tons of retirees are flocking to), GOBankingRates found the ZIP codes, the household median income, among other data points, including total cost-of-living facts.

Here’s how many years your $500,000 retirement nest egg will last you in these 25 Southern ZIP codes.

Baltimore: ZIP 21210

Household median income: $42,357
Total annual cost of living: $28,461
Total annual cost of living with Social Security benefits: $6,047
How long $500K will last you without Social Security benefits: 17.57 years
How long $500K will last you with Social Security benefits: 82.69 years

Lubbock, Texas: ZIP 79404

Household median income: $61,868
Total annual cost of living: $28,452
Total annual cost of living with Social Security benefits: $6,038
How long $500K will last you without Social Security benefits: 17.57 years
How long $500K will last you with Social Security benefits: 82.81 years

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El Dorado, Arkansas: ZIP 71730

Household median income: $46,781
Total annual cost of living: $28,436
Total annual cost of living with Social Security benefits: $6,022
How long $500K will last you without Social Security benefits: 17.58 years
How long $500K will last you with Social Security benefits: 83.03 years

Little Rock, Arkansas: ZIP 72209

Household median income: $37,229
Total annual cost of living: $28,234
Total annual cost of living with Social Security benefits: $5,820
How long $500K will last you without Social Security benefits: 17.71 years
How long $500K will last you with Social Security benefits: 85.91 years

Tulsa, Oklahoma: ZIP 74110

Household median income: $70,000
Total annual cost of living: $28,193
Total annual cost of living with Social Security benefits: $5,779
How long $500K will last you without Social Security benefits: 17.73 years
How long $500K will last you with Social Security benefits: 86.51 years

Indianola, Mississippi: ZIP 38751

Household median income: $33,347
Total annual cost of living: $28,175
Total annual cost of living with Social Security benefits: $5,761
How long $500K will last you without Social Security benefits: 17.75 years
How long $500K will last you with Social Security benefits: 86.79 years

Charleston, West Virginia: ZIP 25387

Household median income: $43,806
Total annual cost of living: $28,051
Total annual cost of living with Social Security benefits: $5,637
How long $500K will last you without Social Security benefits: 17.82 years
How long $500K will last you with Social Security benefits: 88.69 years

Memphis: ZIP 38109

Household median income: $41,428
Total annual cost of living: $27,913
Total annual cost of living with Social Security benefits: $5,499
How long $500K will last you without Social Security benefits: 17.91 years
How long $500K will last you with Social Security benefits: 90.9 years

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Memphis: ZIP 38127

Household median income: $41,428
Total annual cost of living: $27,913
Total annual cost of living with Social Security benefits: $5,499
How long $500K will last you without Social Security benefits: 17.91 years
How long $500K will last you with Social Security benefits: 90.92 years

Borger, Texas: ZIP 79007

Household median income: $52,500
Total annual cost of living: $27,553
Total annual cost of living with Social Security benefits: $5,139
How long $500K will last you without Social Security benefits: 18.15 years
How long $500K will last you with Social Security benefits: 97.30 years

Covington, Virginia: ZIP 24474

Household median income: $47,469
Total annual cost of living: $27,522
Total annual cost of living with Social Security benefits: $5,108
How long $500K will last you without Social Security benefits: 18.17 years
How long $500K will last you with Social Security benefits: 97.89 years

Corpus Christi, Texas: ZIP 78405

Household median income: $51,280
Total annual cost of living: $27,514
Total annual cost of living with Social Security benefits: $5,100
How long $500K will last you without Social Security benefits: 18.17 years
How long $500K will last you with Social Security benefits: 98.04 years

Pampa, Texas: ZIP 79065

Household median income: $50,077
Total annual cost of living: $27,511
Total annual cost of living with Social Security benefits: $5,097
How long $500K will last you without Social Security benefits: 18.17 years
How long $500K will last you with Social Security benefits: 98.10 years

Tulsa, Oklahoma: ZIP 74126

Household median income: $70,000
Total annual cost of living: $27,488
Total annual cost of living with Social Security benefits: $5,074
How long $500K will last you without Social Security benefits: 18.19 years
How long $500K will last you with Social Security benefits: 98.53 years

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Macon, Georgia: ZIP 31206

Household median income: $37,318
Total annual cost of living: $27,295
Total annual cost of living with Social Security benefits: $4,881
How long $500K will last you without Social Security benefits: 18.32 years
How long $500K will last you with Social Security benefits: 102.45 years

Covington, Virginia: ZIP 24457

Household median income: $47,469
Total annual cost of living: $27,094
Total annual cost of living with Social Security benefits: $4,680
How long $500K will last you without Social Security benefits: 18.45 years
How long $500K will last you with Social Security benefits: 106.85 years

Baltimore: ZIP 21223

Household median income: $42,357
Total annual cost of living: $26,879
Total annual cost of living with Social Security benefits: $4,465
How long $500K will last you without Social Security benefits: 18.60 years
How long $500K will last you with Social Security benefits: 111.97 years

Mobile, Alabama: ZIP 36617

Household median income: $41,851
Total annual cost of living: $26,682
Total annual cost of living with Social Security benefits: $4,268
How long $500K will last you without Social Security benefits: 18.74 years
How long $500K will last you with Social Security benefits: 117.16 years

Memphis ZIP: 38114

Household median income: $41,428
Total annual cost of living: $26,553
Total annual cost of living with Social Security benefits: $4,139
How long $500K will last you without Social Security benefits: 18.83 years
How long $500K will last you with Social Security benefits: 120.79 years

Today’s Top Offers

Greenwood, Mississippi: ZIP 38930

Household median income: $30,740
Total annual cost of living: $26,399
Total annual cost of living with Social Security benefits: $3,985
How long $500K will last you without Social Security benefits: 18.94 years
How long $500K will last you with Social Security benefits: 125.47 years

Mobile, Alabama: ZIP 36603

Household median income: $41,851
Total annual cost of living: $26,172
Total annual cost of living with Social Security benefits: $3,758
How long $500K will last you without Social Security benefits: 19.10 years
How long $500K will last you with Social Security benefits: 133.03 years

Memphis: ZIP 38126

Household median income: $41,428
Total annual cost of living: $26,147
Total annual cost of living with Social Security benefits: $3,733
How long $500K will last you without Social Security benefits: 19.12 years
How long $500K will last you with Social Security benefits: 133.94 years

North Little Rock, Arkansas: ZIP 72114

Household median income: $72,910
Total annual cost of living: $26,120
Total annual cost of living with Social Security benefits: $3,706
How long $500K will last you without Social Security benefits: 19.14 years
How long $500K will last you with Social Security benefits: 134.90 years

Memphis: ZIP 38108

Household median income: $41,428
Total annual cost of living: $26,044
Total annual cost of living with Social Security benefits: $3,630
How long $500K will last you without Social Security benefits: 19.20 years
How long $500K will last you with Social Security benefits: 137.75 years

Memphis: ZIP 38106

Household median income: $41,428
Total annual cost of living: $25,529
Total annual cost of living with Social Security benefits: $3,115
How long $500K will last you without Social Security benefits: 19.59 years
How long $500K will last you with Social Security benefits: 160.52 years

Methodology. For this study, GOBankingRates analyzed ZIP codes in the Southern United States to find how long $500,000 in retirement savings will last. First, GOBankingRates found the ZIP codes in the Southern United States as well as their total population, population of residents aged 65 and over, household total, household median income, all sourced from the US Census American Community Survey. For each ZIP code the cost-of-living index was sourced from Sperling’s BestPlaces and using the national average expenditure costs for retired residents, the average expenditure costs can be calculated for each ZIP code. The average single family home value from April 2024 was sourced from Zillow Home Value Index and by assuming a 10% down payment and using the national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage cost can be calculated. The average mortgage and expenditure costs can be used to calculate the monthly total cost of living. The average Social Security benefits were sourced from the Social Security Administration’s May Snapshot, for one person earning full benefits. Using the annual cost of living, the Social Security benefits, and assuming $500,000 in retirement savings, the length of time someone can live off their retirement with and without Social Security benefits could be calculated. The ZIP codes with the shortest and longest times to use the retirement savings were kept and ranked separately to show how far $500,000 in retirement savings lasts in the Southern United States. All data was collected on and is up to date as of July 10th, 2024.

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