It is possible to live in Florida on Social Security income, although not in all cities. At Solo Dinero we are going to tell you in which ones and their living costs.
Studies have shown that most seniors do not have enough income from the Social Security Administration (SSA) to meet their basic needs. That’s why finding affordable places to live on these benefits alone is key.
According to Social Security data, the average check for a senior in 2022 was $1,775.81. But the good news, according to research by Go Banking Rates, is that in the state of Florida there are options for some retired couples to pool their income and achieve benefits of $3,551.62 per month.
How was the research conducted?
Go Banking Rates took into account the average monthly benefit for retired workers in the United States and their source was the Social Security Administration. Then, they took the average rent costs Americans paid in 2022 for a one-bedroom apartment in Florida.
Finally, they used data published in Sperling’s Best to find the cost of living index for each city in Florida, they also looked at food and health care index scores.
Taking this into consideration, Go Banking Rates listed the list of cities in Florida to live in with a Social Security check as follows:
1.- Crystal River
Average rent in 2022: $1,183 dollars
Monthly expenses: $2,491.78 dollars
2- South Daytona
Average rent in 2022: $1,563 dollars
Monthly expenses: $2,851.71 dollars
3- Altamonte Springs
Average rent in 2022: $1,691 dollars
Monthly expenses: $3,011.28 dollars
4.- Brooksville
Average rent in 2022: $1,360 dollars
Monthly expenses: $2,664.99 dollars
5.- Lakeland
Average rent in 2022: $1,707 dollars
Monthly expenses: $3,002.79 dollars
6.- Winter Haven
Average rent in 2022: $1,651 dollars
Monthly expenses: $2,960.37 dollars
7.- Largo
Average rent in 2022: $1,785 dollars
Monthly expenses: $3,127.99
8.- Lake Wales
Average rent in 2022: $1,493 dollars
Monthly expenses: $2,813.94 dollars
9.- Bartow
Average rent in 2022: $1,693 dollars
Monthly expenses: $3,008.76 dollars
10.- Titusville
Average rent in 2022: $1,721 dollars
Monthly expenses: $2,992.14 dollars