The average American couple on Social Security receives approximately $2,786 per month in benefits. While Social Security benefits are intended to augment preexisting retirement funds rather that serve as a couple's sole means of income, is it possible to use the benefits to completely cover rent?
GOBankingRates recently analyzed a number of cities in the Southern United States to find locations where couples on Social Security could pay rent entirely with their benefits and still have a little left over at the end of each year. A constellation of factors were considered, such as total population (as well as population over the age of 65), total households, household median income, cost-of-living expenses as well as national average expenditure costs.
From those factors, GOBankingRates compiled 20 cities in the South in which couples on Social Security could afford their rent solely with their benefits. See the best Southern towns for a couple to live on Social Security, listed in order of most money left after rent is paid.