3. New York
- Cost-of-living index: 148.2
- Average one-bedroom rent (January 2022): $1,588
New York — one of the most famous cities in the entire world. Also called the Empire State, this vibrant place is known for its flashy Broadway performances, exclusive shops, and amazing skyscrapers.
Despite all these awesome things, New York is highly overpriced, especially for those who rely solely on their Social Security checks. In fact, Manhattan ranks as the most expensive place to live in America, with costs exceeding 138.6% above the national average.
With the national baseline set at 100.0, the housing expenses in New York are a staggering 230.1 on the cost-of-living index. Utilities are a little below average, and healthcare is only a little above, but everything else is more expensive in New York.
Retirees here may have an average income that’s among the top five in the US, but according to the latest data, the age group of 65 and older suffers an 11.4% poverty rate. So forget about moving here if you live on just a Social Security check.
6 Responses
I would think Pennsylvania should be listed as 1 of the worst states to live in for retirees
PA living is reasonable away from the cities. There is no sales tax on groceries, clothing, shoes, and non prescription meds. Residents of adjacent states travel to PA to buy clothing, shoes, and other untaxed items. Eastern PA residents go to DE to buy other stuff since DE has no sales tax at all. School taxes are high for PA property owners statewide, especially near and in the cities. Really, school taxes should be frozen or reduced for seniors at age 65 but the state legislature “won’t go there”.
The EPA wrecked most heavy industry in PA for the last 54 years and PA has had difficulty recovering lost revenue from manufacturing but continues to spend regardless.
Comments about #3 New York zero in on NYC which is not the real New York. When it comes to New York State “go west young man, go west”. NYC is too expensive plus it’s a rat-infested pit. Go westward into New York and live a much better quality of life. Avoid NYC at all cost!
Western NY born, raised, and educated and lovin’ it.
You forgot IL
If your only source of income is Social Security and you don’t own a home think about a roommate and Medicare does not cover ALL MEDICAL Expenses I get billed for Dr visits
and the rents DON”T have to be that high, greedy landlords,
maybe if heat/ac and lights included