"The analysis underscores that "housing costs are what really separate the states where Social Security is enough from those where it falls short". New Hampshire retirees spend nearly $1,000 per month on housing-related expenses-more than double the costs in surplus states such as Alabama ($419) or West Virginia ($398). At 43% of the typical Social Security check, New Hampshire's housing burden far exceeds the 30% affordability guideline established by the Department of Housing and Urban Development. This imbalance leaves retirees unable to cover other basic needs without additional income."
"Retirees in New Hampshire face average monthly living expenses of $2,668, while their median Social Security benefit is just $2,121. With housing costs averaging $921 per month, Social Security benefits fall short long before other essentials like food, healthcare, and transportation are added in."
"New Hampshire offers many qualities that attract retirees, including access to the White Mountains, Lake Winnipesaukee, and a slower-paced lifestyle. Its lack of a state income tax and sales tax also appeals to some seniors. But these tax breaks do not offset the state's elevated property taxes, which are among the highest in the nation."
Median Social Security benefits in New Hampshire average $2,121 per month while average monthly living expenses are $2,668, producing an annual shortfall of $6,564 even with mortgages paid off. Housing costs average about $921 per month and consume roughly 43% of the typical Social Security check, far above the 30% HUD affordability guideline. Elevated property taxes and higher heating and utility costs from harsh winters further increase the financial burden. Lack of state income and sales taxes offers limited relief for retirees without substantial pensions or savings.
Read at SFGATE
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