Fixed Income Strategies

Here are the best places in every state to live in retirement

Key Points
  • With an average Social Security benefit of $1,369 a month per person, retirees have access to $25,000 less than the median U.S. income each year.
  • GoBankingRates.com surveyed the U.S. to find the most stable, affordable spot in each state for fixed-income living.
Jaap Arriens/ | NurPhoto | Getty Images

Personal finance website GoBankingRates.com compiled a list of the best place in each U.S. state for retired workers to live. According to the website, the average Social Security benefit for retirees in 2017 was $1,369 a month, which adds up to $16,428 in annual benefits for single people and $32,856 for couples. That's around $25,000 less than the median U.S. household income.

"Living on a fixed income basically means you're solely or almost entirely dependent on funds like Social Security, pensions and inheritance — with little to no flexibility in the amount you're paid each month," reports GoBankingRates' Gabrielle Olya. Unstable costs, including a volatile housing market, can be especially challenging to deal with on a fixed income, she added.

If you rely mostly — or only — on a fixed income, here are the best cities, towns and rural spots across the country for you:

• Alabama: Decatur

• Alaska: Palmer

• Arizona: Sierra Vista

Little Rock, Arkansas
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• Arkansas: Little Rock

• California: Hanford

• Colorado: Fort Collins

New Haven, Connecticut
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• Connecticut: New Haven

• Delaware: Felton

• Florida: Bradenton

• Georgia: Columbus

Hilo, Hawaii
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• Hawaii: Hilo

• Idaho: Twin Falls

• Illinois: Champaign-Urbana

• Indiana: Angola

Des Moines, Iowa.
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• Iowa: Des Moines

• Kansas: Topeka

• Kentucky: Danville

• Louisiana: Lafayette

Augusta, Maine
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• Maine: Augusta

• Maryland: Hagerstown

• Massachusetts: Worcester

• Michigan: Midland

Mankato, Minnesota
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• Minnesota: Mankato

• Mississippi: Tupelo

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• Missouri: Springfield

• Montana: Great Falls

• Nebraska: North Platte

Ruby Crest National Recreation Trail, Elko, Nevada
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• Nevada: Elko

• New Hampshire: Berlin

• New Jersey: Absecon

Albuquerque, New Mexico
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• New Mexico: Albuquerque

• New York: Corning

• North Carolina: Fayettesville

Fargo, North Dakota
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• North Dakota: Fargo

• Ohio: Port Clinton

• Oklahoma: Elk City

• Oregon: La Grande

Little League World Series Museum, Williamsport, Pennsylvania
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• Pennsylvania: Williamsport

• Rhode Island: Providence

• South Carolina: Columbia

Rapid City, South Dakota
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• South Dakota: Rapid City

• Tennessee: Morristown

• Texas: College Station

Utah Valley Convention & Visitors Bureau

• Utah: Provo

• Vermont: Rutland

• Virginia: Lynchburg

• Washington: Wenatchee

Parkersburg, West Virginia
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• West Virginia: Parkersburg

• Wisconsin: Watertown

• Wyoming: Riverton