"Tennessee barely makes the cut as a state where retirees can survive on Social Security benefits alone-if they've already paid off their mortgage. According to a Realtor.com® analysis of median Social Security benefits by state and the Elder Economic Security Standard Index,, retirees in the Volunteer State have an annual surplus of $156, or just $13 per month, after covering their essential living costs."
"In Tennessee, retirees' housing-related expenses-including utilities, insurance, property taxes, and maintenance-fall under $500 per month. That puts them well below the nearly $1,000 to $1,300 monthly averages seen in shortfall states like New Jersey and Massachusetts. This modest housing burden allows Tennessee to join the surplus list, even if only barely. At about 25% of total living expenses, housing costs remain under the 30% affordability threshold set by federal guidelines, keeping budgets balanced for retirees on fixed incomes."
Retirees in Tennessee have a median Social Security benefit that yields an annual surplus of $156, or about $13 per month, after covering essential living costs if the mortgage is paid off. Average monthly living expenses total $1,870, with housing costs averaging $474 per month once the mortgage is gone. Median benefits of $1,883 per month barely cover those expenses, leaving little room for unexpected costs. Housing-related expenses including utilities, insurance, property taxes, and maintenance fall under $500 per month, keeping housing around 25% of total expenses. Tennessee offers no state income tax, relatively low property taxes, and affordable housing markets, with cities and smaller communities providing amenities and lower-cost lifestyles.
Read at SFGATE
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