15 Florida Cities That Will Struggle the Most If Social Security Ends

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Over the years, Florida has emerged as one of the top destinations to retire. No state taxes, nice weather and tons of beaches contribute to making Florida an attractive state. Plus, because it’s such a hotspot for retirees, people opting to live out their golden years there have access to a large community made up of fellow retirees. 

But living in Florida isn’t cheap, and many retirees there depend on Social Security benefits to get by. Should Social Security benefits be slashed, or heaven forbid, completely phased out, Florida retirees could profoundly struggle to get by. 

GOBankingRates analyzed cities in Florida to find the places that will struggle the most if Social Security benefits were to be removed. Below, we’ve listed the top 15 cities that could struggle the most without these crucial benefits. 

The cities have the highest percentage of households receiving Social Security benefits, and, as such, will be the most affected should Social Security benefits end.

15. Zephyrhills

• Percentage of households with retirement income: 32.7% 
• Total annual cost of living: $43,868 
• Average Social Security benefits for households that receive them: $22,235 
• Percentage of households receiving Social Security benefits: 55%

14. Port Charlotte

• Percentage of households with retirement income: 32.7% 
• Total annual cost of living: $43,868 
• Average Social Security benefits for households that receive them: $24,424 
• Percentage of households receiving Social Security benefits: 56%

13. Bonita Springs

• Percentage of households with retirement income: 42.8% 
• Total annual cost of living: $67,874 
• Average Social Security benefits for households that receive them: $29,378 
• Percentage of households receiving Social Security benefits: 57%

12. Hudson

• Percentage of households with retirement income: 58% 
• Total annual cost of living: $45,502 
• Average Social Security benefits for households that receive them: $23,809 
• Percentage of households receiving Social Security benefits: 58%

11. Tavares

• Percentage of households with retirement income: 39.1% 
• Total annual cost of living: $44,986 
• Average Social Security benefits for households that receive them: $23,898 
• Percentage of households receiving Social Security benefits: 59%

10. Naples

• Percentage of households with retirement income: 38.6%
• Total annual cost of living: $44,986 
• Average Social Security benefits for households that receive them: $71,152 
• Percentage of households receiving Social Security benefits: 60%

9. Estero

• Percentage of households with retirement income: 46.1% 
• Total annual cost of living: $66,611  
• Average Social Security benefits for households that receive them: $30,339  
• Percentage of households receiving Social Security benefits: 62% 

8. North Fort Myers

• Percentage of households with retirement income: 42.8% 
• Total annual cost of living: $46,568 
• Average Social Security benefits for households that receive them: $24,415  
• Percentage of households receiving Social Security benefits: 63%

7. Punta Gorda

• Percentage of households with retirement income: 50.5% 
• Total annual cost of living: $50,011  
• Average Social Security benefits for households that receive them: $28,854  
• Percentage of households receiving Social Security benefits: 64%

6. Marco Island

• Percentage of households with retirement income: 49.0% 
• Total annual cost of living: $123,822  
• Average Social Security benefits for households that receive them: $29,920  
• Percentage of households receiving Social Security benefits: 66%

5. Lady Lake

• Percentage of households with retirement income: 42.7% 
• Total annual cost of living: $45,274  
• Average Social Security benefits for households that receive them: $25,143  
• Percentage of households receiving Social Security benefits: 68%

4. Englewood

• Percentage of households with retirement income: 52.7% 
• Total annual cost of living: $48,673  
• Average Social Security benefits for households that receive them: $25,610  
• Percentage of households receiving Social Security benefits: 71%

3. Venice

• Percentage of households with retirement income: 52.6% 
• Total annual cost of living: $54,523  
• Average Social Security benefits for households that receive them: $27,226  
• Percentage of households receiving Social Security benefits: 73%

2. Sun City Center

• Percentage of households with retirement income: 62.4% 
• Total annual cost of living: $46,652  
• Average Social Security benefits for households that receive them: $26,759  
• Percentage of households receiving Social Security benefits: 76%

1. The Villages

• Percentage of households with retirement income: 73.7% 
• Total annual cost of living: $49,429  
• Average Social Security benefits for households that receive them: $30,704  
• Percentage of households receiving Social Security benefits: 91%

Methodology: For this study, GOBankingRates analyzed cities in Florida to find the places that would struggle the most if Social Security benefits were to be removed. First, GOBankingRates found cities in Florida as sourced from the U.S. Census American Community Survey. For each city, a number of factors were found including; total population, population ages 65 and over, total households, household median income, households receiving Social Security benefits, households receiving retirement benefits, average Social Security benefits for households that receive Social Security benefits, and average retirement income for households that receive retirement income all sourced from the U.S. Census American Community Survey, the cost of living indexes as sourced from Sperling’s BestPlaces, the livability index as sourced from AreaVibes and the average single-family home value as sourced from Zillow Home Value Index. Using the cost of living indexes and the average expenditure costs for residents ages 65 and over, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure costs can be calculated for each city. The average mortgage cost can be calculated by using the average single-family home value, 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 for each city. Using the mortgage and expenditure costs, the monthly total cost of living can be calculated. Using data from the Social Security Administration, the average monthly Social Security benefits for one person, a married couple and two people can be sourced and used to calculate the leftover savings. The number of households that receive Social Security Benefits can be used to calculate the percentage of households that receive Social Security benefits. The cities are sorted to show the places with the highest percentage of households receiving Social Security benefits, as they will be the most affected by the removal of Social Security benefits. All data was collected on and is up to date as of Sept. 16, 2024.

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