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 Alaska face one of the harshest financial gaps in the nation when attempting to live 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 average retiree in Alaska experiences an annual shortfall of $4,152, or about $346 per month, even with their mortgage fully paid. While that might not seem like a lot to some, it could mean all the difference to someone on a fixed income.