Yahoo Finance 10 Best Places in Oklahoma for a Couple To Live on Only a Social Security Check
The state of Oklahoma offers retirees affordability, a friendly tax structure, tight-knit communities and numerous opportunities for outdoor and cultural activities.
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Still, the Sooner State has lost some of its popularity with retirees in recent years. The Oklahoman newspaper, citing multiple studies, reported last summer that Oklahoma had dropped into the bottom 10 among desirable retirement states, down from 21st just five years ago. Reasons for the decline included a lack of healthcare access in some areas, difficult economic conditions and the tornado-prone state’s extreme weather.
For retired couples planning to live on just Social Security, though, Oklahoma’s low cost of living may make it worth a look.
If you’re eyeing Oklahoma for retirement, GOBankingRates has compiled a list of state’s best blends of Social Security-only affordability and decent livability scores. We’ve done this by factoring the average retirement benefit for couples (about $3,600 a month) with data from the U.S. Census, the Bureau of Labor Statistics, Sperling’s Best and AreaVibes. You can read about our full methodology at the end of this story.
Here is our top 10 countdown, in reverse order.
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10. Moore
Average rent: $1,444
Average total monthly cost of living: $3,234.97
Livability score: 72
Moore is located roughly halfway between Oklahoma City and Norman in the central part of the state. It is prone to extreme weather and has been hit by two devasting tornadoes this century.
On the bright side, it’s an affordable place to live with more than 300 acres of parks and a senior center. Country music icon Toby Keith grew up in Moore, where about 63,000 people make their home.
9. Midwest City
Average rent: $1,096
Average total monthly cost of living: $2,862.69
Livability score: 70
Midwest City gets a livability score of 70 from AreaVibes, the lowest number in our list. It scores points with affordability, though. The average monthly cost of living for a retired couple is just $2,862.69, the lowest in our top 10. Midwest City also has the lowest average cost for groceries, about $373 a month.
Located just west of Oklahoma City and adjacent to Tinker Air Force Base, Midwest City’s roughly 59,000 residents have easy access to two municipal golf courses and multiple parks.
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8. Owasso
Average rent: $1,587
Average total monthly cost of living: $3,339.96
Livability score: 76
Located just northeast of Tulsa in northeast Oklahoma, Owasso has more than doubled in population since 2010 and is now home to about 39,000 residents. There you’ll find the Bailey Ranch Golf Club, the Historical Museum and multiple parks. Owasso also tied for the lowest monthly healthcare and utility costs in our top 10.
7. Broken Arrow
Average rent: $1,554
Average total monthly cost of living: $3,317.25
Livability score: 76
Home to about 118,000 residents, Broken Arrow is Tulsa’s largest suburb and Oklahoma’s fourth most populous city. Its attractions include shopping and dining in the city’s Rose District, the Museum Broken Arrow, Centennial, Central and Veterans parks; and the Broken Arrow Performing Arts Center.
Retired couples on tight budgets may appreciate average monthly rents about $400 below the national average.
6. Edmond
Average rent: $1,661
Average total monthly cost of living: $3,469.51
Livability score: 78
Edmond may stretch Social Security-only budgets more than the other cities on our list. This Oklahoma City suburb has the highest average rent, highest average cost of living and the highest monthly grocery costs (about $400 a month).
On the plus side, Edmond does boast Arcadia and Twin Bridges lakes, seven golf courses and more than 30 parks.
5. Guthrie
Average rent: $1,081
Average total monthly cost of living: $2,890.04
Livability score: 72
You’ll find Guthrie about 45 minutes north of Oklahoma City by car. Guthrie may be of interest to retired couples on tight budgets due to it’s average monthly rent (the lowest in our top 10) and sub-$3,000 monthly cost of living.
Home to about 11,000 residents, Guthrie draws history buffs with its 2,100-building historic district, filled with architecture from the turn of the 20th century. Other attractions include the Oklahoma Territorial Museum and multiple annual festivals, including the Oklahoma International Bluegrass Festival.
4. Tulsa
Average rent: $1,224
Average total monthly cost of living: $2,959.93
Livability score: 73
With about 112,000 residents, Tulsa is second only to Oklahoma City in population within the state.
Located about 120 miles northeast of OKC on the Arkansas River, Tulsa boasts a highly regarded zoo, historic art deco architecture, the Philbrook Museum, the Tulsa Air and Space Museum, and numerous parks — including 2,800-acre Mohawk Park. Tulsa is also home to the University of Tulsa and Oral Roberts University.
3. Oklahoma City
Average rent: $1,212
Average total monthly cost of living: $2,994.49
Livability score: 79
With an average monthly cost of living below $3,000, Oklahoma’s capital is a major city worth considering for retired couples on a Social Security-only budget.
OKC has a population of nearly 700,000 and the accompanying arts and entertainment offerings you would expect. It’s a city known for the oil, natural gas, petroleum and livestock industries, among others, blended with cowboy culture. Oklahoma City’s attractions include the NBA’s Oklahoma City Thunder, the Bricktown Entertainment District, the National Cowboy & Western Heritage Museum and the Oklahoma City National Memorial and Museum.
2. Stillwater
Average rent: $1,322
Average total monthly cost of living: $3,146.09
Livability score: 81
The home of Oklahoma State University, Stillwater is about 80 minutes northeast of Oklahoma City by car. It’s more affordable than the national average in most areas, with healthcare being an exception. Healthcare will cost a retired couple about $667 a month on average in Stillwater. That’s 28.5% about the national average and significantly higher than any other city in our list.
Stillwater’s 50,000 residents have easy access to the university’s Botanic Garden, the National Wrestling Hall of Fame and Museum, multiple lakes, 5,000 acres of parkland and hotspots like the popular Eskimo Joe’s restaurant and bar.
1. Norman
Average rent: $1,263
Average total monthly cost of living: $3,063.19
Livability score: 83
Norman is closely associated with the University of Oklahoma and Sooner athletics. It blends the highest livability score in our top 10 with an average cost of living just over $3,000 a month, putting it within reach of Social Security-only retired couples.
Located about 20 miles south of Oklahoma City, Norman is the state’s third-most populous city with about 130,000 residents. It features 55 parks and the Fred Jones Jr. Museum of Art, which boasts a large collection of French Impressionist works. Retired couples in Norman pay about $390 a month for groceries.
Methodology: GOBankingRates determined the best cities in Oklahoma for a couple to live on only a Social Security check based on the average monthly benefit for retired workers, $1,797.23 ($3,594.46 for a couple), sourced from Social Security Administration. GOBankingRates first isolated all cities in Texas with a 2023 average monthly rent under $1,790 and a size rank below 1,000. 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 2021 Consumer Expenditure Survey to find the annual expenditure amount for both grocery (“food at home”) and healthcare costs for people aged 65 and older, in order to find how much a couple 65 and over would spend on groceries and healthcare in each city on a monthly basis. GOBankingRates then added monthly housing, grocery and healthcare costs together to find where a couple 65 and older could survive on their Social Security or less. In order for a city to be qualified for the study, the city had to have a livability score above 70 as sourced from AreaVibes. GOBankingRates scored and combined both livability and monthly necessities expenditures, with the lowest score being best, to determine final rankings. In final calculations, the livability score was weighted 2x. All data was collected and is up to date as of January 3, 2024.
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This article originally appeared on GOBankingRates.com: 10 Best Places in Oklahoma for a Couple To Live on Only a Social Security Check
