Wyoming is One of the Best States to Live On Social Security
We have all had to deal with the recent inflation that has affected everyone throughout the world. However, for those that are 65 and older, which makes up roughly about 16 percent of the entire nation, it could be important to live in a state where a Social Security check could last that much longer. It just so happens the Cowboy State ranks high on the list of those particular states where that could happen.
The states that rank at the top of this list are all states that fall well below the national average rent cost, which currently is $1,067.80. GOBankingRates recently compiled information from multiple sources that showed where each state ranked on the list that were the best for living on your Social Security check.
For those that ranked in the top 15 on the list, the majority near the top are states that are in the Midwest and South regions of the U.S., while the list begins to branch out to the West as it goes higher in the ranks.
Iowa showed up at the top of the list as the top state to live on a Social Security check. The average rent there is $701. Arkansas, Mississippi, Alabama, and Kansas all ranked in spots 2 through 5 on the list to round out the top five. So where does Wyoming rank?
Wyoming came in at #11 overall. The average rent in the Cowboy State is 30 percent below the national average at $742. Our senior population is also at 16.4 percent. Social Security benefits would be a pretty good thing for Wyoming.
Our neighbors to the south in Colorado showed up as one of the worst states to live off a Social Security check however. Average rent there is $1,341 for a one-bedroom place. Housing prices are pretty outrageous as they are about $545,000 at a low bar. For the full list, check out the link here.
So for seniors in Wyoming, if you're living off your Social Security check, know that in Wyoming, you're at least in a pretty good spot for it going forward!