Yahoo Finance 10 Best Places in Alabama for a Couple To Live on Only Social Security Checks
Alabama may not be the first state that comes to mind as a retirement destination, but the “Heart of Dixie” is a popular spot for retirees.
According to 2022 U.S. Census data, about 18% of Alabama’s residents are aged 65 or older. Its biggest draw for the older set — especially couples living on just Social Security checks — may be affordability. Alabama had the nation’s seventh lowest overall cost to retire in a study released earlier this year by NetCredit. It also offers tax credits for seniors and reasonable property taxes, though taxes are collected on withdrawals from retirement plans.
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Weatherwise, much of Alabama offers retirees mild winters. Summers can be quite hot and humid, though, and the state is also prone to natural disasters such as hurricanes and tornadoes.
If you’re a couple looking to retire in Alabama on just your Social Security checks, we’ve done some of the homework for you. Read on for a top 10 list of cities offering the best blends of Social Security-only budget friendliness (average benefits for couples are about $3,593 a month) and livability.
10. Alabaster
Average rent: $1,613
Average total monthly cost of living: $3,129.55
Livability score: 75
Fast-growing Alabaster is a city of more than 33,000 residents, located about 20 miles south of Birmingham in central Alabama. Since incorporating in 1953, Alabaster has seen double-digit population growth every decade.
In addition to its proximity to Birmingham, it offers easy access to the Shelby Baptist Medical Center, an annual Christmas parade and a popular CityFest celebration and Buck Creek Trail. Groceries here will cost a retired couple about $390 a month, slightly below the national average.
9. Vestavia Hills
Average rent: $1,907
Average total monthly cost of living: $3,442.99
Livability score: 80
This Birmingham suburb is the priciest spot in our top 10, but it may still be within reach for retired couples living on just Social Security. Vestavia Hills touts itself as offering “A life above” and “Alabama’s premier place to live, shop, work and play.”
Its attractions include Wald, Byrd and McCallum parks. About 40,000 people live here.
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8. Prattville
Average rent: $1,470
Average total monthly cost of living: $2,982.01
Livability score: 74
You’ll find Prattville about 13 miles northwest of Montgomery. Its sub-$3,000 average monthly cost of living makes it a good fit for budget-conscious retired couples, though its monthly utility costs (about $367) are the highest on our list.
Rock & Roll Hall of Famer Wilson Pickett was born here, and about 38,000 residents call Prattville home. The city also boasts the Capitol Hill golf courses.
7. Tuscaloosa
Average rent: $1,653
Average total monthly cost of living: $3,113.19
Livability score: 76
Tuscaloosa is best known as home to the University of Alabama and its highly successful football team. Located in West Alabama, Tuscaloosa is also home to the Alabama Museum of Natural History, the historic Bama Theatre and the University of Alabama Arboretum.
Healthcare in this city of about 110,000 costs about $720 a month, tied for the lowest in our top 10.
6. Decatur
Average rent: $1,253
Average total monthly cost of living: $2,685.48
Livability score: 71
Decatur is a river city located in north Alabama, about a half-hour west of Huntsville. Its livability score of 71 is the lowest on our list, but Decatur does offer plenty of outdoor recreation opportunities and annual events, like the Alabama Jubilee hot-air balloon race, the Riverfest barbecue competition and the Spirit of America Fourth of July celebration.
Retirees on tight budgets may enjoy monthly utility costs of only $330 on average. Decatur’s population is about 58,000.
5. Athens
Average rent: $1,487
Average total monthly cost of living: $2,981.81
Livability score: 77
Another northern Alabama city, Athens is located about 20 minutes north of Decatur and about 20 miles south of the Tennessee border. Healthcare will run a retired couple about $779 a month here, the highest in our top 10.
Home to about 29,000 residents, Athens has four historic districts, a veterans museum, and shopping, dining and other entertainment at Athens Courthouse Square.
4. Hoover
Average rent: $1,436
Average total monthly cost of living: $2,967.82
Livability score: 79
This Birmingham suburb is a large city in its own right with about 93,000 residents. It is located at the base of the Appalachian Mountains and boasts many outdoor activities, golf courses, parks, the Moss Rock Preserve and Aldridge Gardens.
Monthly groceries for a retired couple (about $408 a month) and utilities (about $358) cost slightly above national averages.
3. Northport
Average rent: $1,244
Average total monthly cost of living: $2,711.86
Livability score: 76
You’ll find Northport across the Black Warrior River from Tuscaloosa. Northport’s arts scene includes multiple galleries, a monthly Art Night, and the annual Kentuck Festival of the Arts. Northport’s roughly 32,000 residents also can stroll through a historic downtown or along multiple trails.
2. Huntsville
Average rent: $1,468
Average total monthly cost of living: $2,969.42
Livability score: 81
Alabama’s most populous city (about 228,000 residents) is located in the northern part of the state, between Birmingham and Nashville, Tennessee. Known as “Rocket City” for its strong aerospace presence, Huntsville is also a hub for the defense and biotech industries.
Its livability score of 81 ties for best in our list with the No. 1 entry, and with an annual monthly cost of living under $3,000, Huntsville may be worth a look for Social Security-only retired couples.
1. Florence
Average rent: $1,004
Average total monthly cost of living: $2,459.18
Livability score: 81
Florence matches Huntsville’s livability score of 81, but it’s considerably cheaper to live here. It boasts our list’s lowest monthly rent and lowest total cost of living by far, and a month’s worth of groceries averages only about $371.
Florence is located in northwest Alabama and is one of four cities that make up “The Shoals.” The birthplace of W.C. Handy, Florence has a lively music scene as well as an inviting outdoors and nightlife. About 40,000 people call Florence home.
Methodology: GOBankingRates determined the best cities in Alabama for a couple to live on only Social Security checks based on the average monthly benefit for retired workers, $1,796.31 ($3,592.62 for a couple), sourced from Social Security Administration. GOBankingRates first isolated all cities in Alabama with a 2023 average monthly rent under $2,200 and a size rank below 2,000. GOBankingRates then used Sperling’s Best to find the cost-of-living index for each listed city, looking at grocery and healthcare index scores. Next, GOBankingRates used data from the Bureau of Labor Statistics 2022 Consumer Expenditure Survey to find the annual expenditure amount for grocery (“food at home”), utilities and healthcare costs for people aged 65 and older in order to find how much a couple 65 and over would spend on groceries, utilities and healthcare in each city on a monthly basis. GOBankingRates then added monthly housing, grocery, utilities and healthcare costs together to find where a couple 65 and older could survive on their Social Security or less. In order qualify for the study, the cities had to have a livability score above 65 as sourced from AreaVibes. GOBankingRates scored and combined both livability and monthly necessities expenditures, with the lowest score being best, to determine final rankings. All data was collected and is up to date as of December 5, 2023.
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This article originally appeared on GOBankingRates.com: 10 Best Places in Alabama for a Couple To Live on Only Social Security Checks
