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10 Major Southern Cities Where You Can Live the Longest on Social Security

December 6, 2024

6 min Read

Written by Nicole Spector

Edited by Molly Sullivan

Memphis, Tennessee, USA downtown city skyline at dusk.

Sean Pavone / Getty Images/iStockphoto

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Tens of millions of Americans receive Social Security benefits, and for many, the program is an essential financial lifeline in retirement. But relying on Social Security as your only source of income in your golden years is a recipe for disaster. Social Security was simply not engineered to take on the full weight of all your financial needs. That said, some places will see your monthly Social Security paycheck go much further than others — including in the South.

Ranked in descending order from most to least expensive, new research by GOBankingRates found the 10 major Southern cities where you can live the longest on Social Security alone.

10. Winston-Salem, North Carolina

Livability: 63
Total annual cost of living for one person (after Social Security benefits): $17,457
How many days per month Social Security will last a single person: 17.12
Total annual cost of living for a couple (after Social Security benefits): $6,539
How many days per month Social Security will last a married couple: 25.43

9. Louisville, Kentucky

Livability: 66
Total annual cost of living for one person (after Social Security benefits): $17,456
How many days per month Social Security will last a single person: 17.12
Total annual cost of living for a couple (after Social Security benefits): $6,538
How many days per month Social Security will last a married couple: 25.43

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8. Corpus Christi, Texas

Livability: 80
Total annual cost of living for one person (after Social Security benefits): $15,369
How many days per month Social Security will last a single person: 18.06
Total annual cost of living for a couple (after Social Security benefits): $4,452
How many days per month Social Security will last a married couple: 26.84

7. El Paso, Texas

Livability: 81
Total annual cost of living for one person (after Social Security benefits): $15,171
How many days per month Social Security will last a single person: 18.16
Total annual cost of living for a couple (after Social Security benefits): $4,253
How many days per month Social Security will last a married couple: 26.98

6. Oklahoma City

Livability: 81
Total annual cost of living for one person (after Social Security benefits): $15,035
How many days per month Social Security will last a single person: 18.22
Total annual cost of living for a couple (after Social Security benefits): $4,118
How many days per month Social Security will last a married couple: 27.08

5. Tulsa, Oklahoma

Livability: 75
Total annual cost of living for one person (after Social Security benefits): $14,865
How many days per month Social Security will last a single person: 18.30
Total annual cost of living for a couple (after Social Security benefits): $3,947
How many days per month Social Security will last a married couple: 27.20

4. Lubbock, Texas

Livability: 78
Total annual cost of living for one person (after Social Security benefits): $14,693
How many days per month Social Security will last a single person: 18.39
Total annual cost of living for a couple (after Social Security benefits): $3,776
How many days per month Social Security will last a married couple: 27.33

3. Laredo, Texas

Livability: 73
Total annual cost of living for one person (after Social Security benefits): $14,292
How many days per month Social Security will last a single person: 18.59
Total annual cost of living for a couple (after Social Security benefits): $3,375
How many days per month Social Security will last a married couple: 27.62

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2. Baltimore

Livability: 77
Total annual cost of living for one person (after Social Security benefits): $13,951
How many days per month Social Security will last a single person: 18.76
Total annual cost of living for a couple (after Social Security benefits): $3,033
How many days per month Social Security will last a married couple: 27.88

1. Memphis, Tennessee

Livability: 70
Total annual cost of living for one person (after Social Security benefits): $10,043
How many days per month Social Security will last a single person: 21.02
Total annual cost of living for a couple (after Social Security benefits): -$874 (meaning you will have money left over)
How many days per month Social Security will last a married couple: 31.23

Methodology: For this study, GOBankingRates analyzed the top 100 U.S. cities by population according to the U.S. Census to find how long you could last on nothing but Social Security Benefits. First, GOBankingRates found data for each city including; total population, population ages 65 and over, total households, and household median income all sourced from the U.S. Census American Community Survey. Using this data the percentage of the population ages 65 and over can be calculated. The cost of living indexes were sourced from Sperling’s BestPlaces and include the grocery, healthcare, housing, utilities, transportation and miscellaneous cost of living indexes. Using the cost of living indexes for grocery, healthcare, utilities, transportation, and miscellaneous, as well as the national average expenditure costs, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost for each location can be calculated. The average single-family home value was sourced from Zillow Home Value Index for September 2024. Using the average single-family home value, assuming a 10% down payment, and using the most recent national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated. Using the average mortgage and average expenditure costs, the average total monthly and annual cost of living can be calculated. The livability index was sourced from AreaVibes and included as supplemental information. The average Social Security benefits for one person as well as for a married couple were sourced from the Social Security Administration from August 2024. Using the average Social Security benefits, the total cost of living after the benefits could be calculated for one person and a married couple. By assuming costs are evenly spread throughout the year, the days until Social Security benefits stop covering the total cost of living can be calculated. This represents how long Social Security benefits can cover the typical cost of living for retired residents in each city. The cities were sorted to show the most expensive to least expensive location. All data was collected on and is up to date as of Nov. 1, 2024.

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