Living off just a Social Security check has never been easy, but in a time of high inflation -- like 2022 -- it becomes even harder.
Social Security: New Bill Could Give Seniors an Extra $2,400 a Year
The Other Side: 15 Worst States To Live on Just a Social Security Check
For many of the 16% of the U.S. population that is 65 and older, living in a low-cost state can go a long way toward making a Social Security check last longer. To find out the best states to live on a Social Security check, GOBankingRates gathered information from a number of sources on the cost of a one-bedroom apartment and the overall cost of living.
All of the states on the list have rents far below the national average of $1,067.80, and they are almost exclusively from the Midwest and the South. The most affordable states are listed in reverse order, with the most affordable state listed last.
See the 15 best states to live on just Social Security.
15. Nebraska
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2022 Average Rent: $827
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Overall Cost-of-Living Index: 91.8
Nebraska has a cost of living nearly 10% below the national average, but it still has room for more seniors. Only 15.7% of the state's population is over 65, below the national average.
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14. North Dakota
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2022 Average Rent: $672
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Overall Cost-of-Living Index: 96.8
North Dakota's total cost of living is actually quite near the national average, but the rent for an average one-bedroom place is the lowest on the list, nearly 40% below the U.S. average.
13. Indiana
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2022 Average Rent: $835
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Overall Cost-of-Living Index: 89.2
Indiana actually has a relatively high average rent, but its total cost of living is more than 10% below the national average.
12. South Dakota
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2022 Average Rent: $744
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Overall Cost-of-Living Index: 95.2
South Dakota is another low-cost choice for seniors, and it has attracted more than the national average. About 16.7% of South Dakota residents are 65 and older.
11. Wyoming
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2022 Average Rent: $742
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Overall Cost-of-Living Index: 93.9
Wyoming's average rent is more than 30% below the national average, helping boost its senior population to 16.4% of residents.
10. Kentucky
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2022 Average Rent: $741
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Overall Cost-of-Living Index: 93.6
The Bluegrass State's combination of down-home living and low costs makes it a good place for seniors to consider. The state has a 65-and-over population comprising 16.4% of residents.
9. Michigan
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2022 Average Rent: $849
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Overall Cost-of-Living Index: 89.9
Michigan actually has the highest one-bedroom average rental price on the entire list, but other costs are so low that it remains one of the top 10 states to live off a Social Security check.