"According to a Realtor.com® analysis of median Social Security benefits by state and the Elder Economic Security Standard Index,, the average retiree in Alabama ends up with an annual surplus of $576, or about $48 a month, after paying for essential living costs. While it may not seem like a lot, the extra funds are more than homeowners have in most of the country, and can be put to good use in future-proofing a home."
"Retirees in Alabama face average monthly expenses of $1,805, including housing costs of $419 per month without a mortgage. Against those expenses, the state's median Social Security benefit of $1,853 per month leaves seniors just above water, with a slim margin of extra cash flow to play with. At just $419 per month, Alabama's housing costs represent roughly 23% of retirees' total budgets-well under the 30% affordability guideline used by the Department of Housing and Urban Development."
Median Social Security benefits in Alabama average $1,853 per month, while retirees face average monthly expenses of $1,805. Housing costs without a mortgage average $419 per month, representing about 23% of retirees' budgets. The resulting annual surplus for the average retiree is $576, or roughly $48 per month. Alabama's housing costs fall well under the 30% affordability guideline used by the Department of Housing and Urban Development. The state also features some of the lowest property taxes and relatively inexpensive utilities and healthcare compared with national averages. Popular retirement destinations include Huntsville, Birmingham, and coastal Mobile.
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