"Retirees in West Virginia may be surprised to find that their state offers one of the most affordable paths to aging in place on Social Security alone. According to a Realtor.com® analysis of median Social Security benefits by state and the Elder Economic Security Standard Index,, the typical retiree in the Mountain State ends up with an annual surplus of $660, or about $55 per month, after covering all essential living costs-assuming the mortgage has been paid off."
"Housing costs at the core of affordability In West Virginia, retirees face average monthly living expenses of $1,806, the lowest total among the 10 "surplus" states highlighted in the findings. Housing costs average just $398 per month, which is far below the national norm. Against those expenses, the state's median Social Security benefit of $1,861 per month leaves seniors modestly ahead of the curve."
The typical retiree in West Virginia receives a median Social Security benefit of $1,861 per month and faces average monthly living expenses of $1,806, producing an annual surplus of $660 (about $55 per month) after essential costs when the mortgage is paid off. Monthly housing costs average roughly $398, and housing-related expenses including taxes, insurance, utilities, and maintenance are under $400, the lowest among surplus states. Homeowners insurance premiums are among the nation’s lowest. By contrast, retirees in deficit states like New Jersey and Massachusetts can face housing costs above $1,000, pushing budgets into the red and exceeding HUD affordability thresholds.
Read at SFGATE
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