How Far Will Your Social Safety Go? Evaluate Throughout the U.S.

October 31, 2024

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Child boomers are the least seemingly era to really feel economically empowered, based on a survey commissioned by Herbalife and carried out by OnePoll, per Talker.

Maybe that comes as no shock, contemplating 53% of child boomers who will flip 65 between 2024 and 2030 have lower than $250,000 in property, CBS Information reported, and greater than a 3rd of American employees consider they will want $1 million or extra to retire comfortably.

Associated: Are You Really on Monitor to Retire Effectively? A Monetary Professional Reveals the Essential Milestones to Hit at Each Age — Plus 3 Frequent Oversights.

Social Safety would possibly have the ability to offset the rising value of dwelling in some circumstances, however for most individuals, the month-to-month funds, which averaged $1,783.55 in August 2024, will not make up for retirement financial savings that fall quick.

After all, the place retirees dwell can considerably affect precisely how far these Social Safety checks go.

Researchers at GoBankingRates got down to decide the dwelling prices that stay after making use of the typical Social Safety advantages (for one particular person), utilizing information from the U.S. Census, Social Safety Administration and Bureau of Labor Statistics.

Associated: Gen Xers Incomes As much as $100,000 a Yr Will not Retire Like Boomers Did. They’re Embracing This Technique As an alternative.

The findings revealed that Social Safety does not cowl the value of dwelling in any of the 50 largest cities within the U.S. The annual value of dwelling for one particular person after Social Safety is decrease than $10,000 in simply Detroit, Michigan and Memphis, Tennessee.

The annual value of dwelling after Social Safety is roughly $50,000 or larger in 10 U.S. cities, three of that are in California, per the evaluation. The very best common Social Safety advantages are in Mesa, Arizona ($24,338); Seattle, Washington ($24,071); Virginia Seashore, Virginia ($23,345); Raleigh, North Carolina ($23,333); and Tulsa, Oklahoma ($23,242).

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Learn on to see GoBankingRates’ full report, which breaks down how far Social Safety goes within the high 50 largest U.S. cities (listed from least to most populous):

Arlington, Texas

Whole inhabitants: 393,469
Livability: 78
Annual value of dwelling: $44,148
Annual value of dwelling after the typical Social Safety profit for one particular person: $21,695
Annual value of dwelling after the typical Social Safety profit for a married couple: $10,770

Wichita, Kansas

Whole inhabitants: 395,951
Livability: 68
Annual value of dwelling: $35,079
Annual value of dwelling after the typical Social Safety profit for one particular person: $12,626
Annual value of dwelling after the typical Social Safety profit for a married couple: $1,701

Bakersfield, California

Whole inhabitants: 404,321
Livability: 57
Annual value of dwelling: $48,504
Annual value of dwelling after the typical Social Safety profit for one particular person: $26,051
Annual value of dwelling after the typical Social Safety profit for a married couple: $15,126

Tulsa, Oklahoma

Whole inhabitants: 411,938
Livability: 75
Annual value of dwelling: $35,667
Annual value of dwelling after the typical Social Safety profit for one particular person: $13,213
Annual value of dwelling after the typical Social Safety profit for a married couple: $2,288

Minneapolis, Minnesota

Whole inhabitants: 426,877
Livability: 78
Annual value of dwelling: $43,835
Annual value of dwelling after the typical Social Safety profit for one particular person: $21,382
Annual value of dwelling after the typical Social Safety profit for a married couple: $10,457

Oakland, California

Whole inhabitants: 437,825
Livability: 71
Annual value of dwelling: $80,769
Annual value of dwelling after the typical Social Safety profit for one particular person: $58,316
Annual value of dwelling after the typical Social Safety profit for a married couple: $47,391

Miami, Florida

Whole inhabitants: 443,665
Livability: 81
Annual value of dwelling: $68,259
Annual value of dwelling after the typical Social Safety profit for one particular person: $45,806
Annual value of dwelling after the typical Social Safety profit for a married couple: $34,881

Virginia Seashore, Virginia

Whole inhabitants: 457,900
Livability: 83
Annual value of dwelling: $50,574
Annual value of dwelling after the typical Social Safety profit for one particular person: $28,121
Annual value of dwelling after the typical Social Safety profit for a married couple: $17,196

Lengthy Seashore, California

Whole inhabitants: 462,293
Livability: 69
Annual value of dwelling: $84,194
Annual value of dwelling after the typical Social Safety profit for one particular person: $61,741
Annual value of dwelling after the typical Social Safety profit for a married couple: $50,816

Raleigh, North Carolina

Whole inhabitants: 465,517
Livability: 84
Annual value of dwelling: $51,301
Annual value of dwelling after the typical Social Safety profit for one particular person: $28,848
Annual value of dwelling after the typical Social Safety profit for a married couple: $17,922

Colorado Springs, Colorado

Whole inhabitants: 479,612
Livability: 79
Annual value of dwelling: $51,171
Annual value of dwelling after the typical Social Safety profit for one particular person: $28,718
Annual value of dwelling after the typical Social Safety profit for a married couple: $17,793

Omaha, Nebraska

Whole inhabitants: 489,201
Livability: 83
Annual value of dwelling: $41,306
Annual value of dwelling after the typical Social Safety profit for one particular person: $18,853
Annual value of dwelling after the typical Social Safety profit for a married couple: $7,928

Atlanta, Georgia

Whole inhabitants: 494,838
Livability: 78
Annual value of dwelling: $52,837
Annual value of dwelling after the typical Social Safety profit for one particular person: $30,384
Annual value of dwelling after the typical Social Safety profit for a married couple: $19,459

Mesa, Arizona

Whole inhabitants: 503,390
Livability: 81
Annual value of dwelling: $52,213
Annual value of dwelling after the typical Social Safety profit for one particular person: $29,760
Annual value of dwelling after the typical Social Safety profit for a married couple: $18,835

Kansas Metropolis, Missouri

Whole inhabitants: 505,958
Livability: 78
Annual value of dwelling: $37,751
Annual value of dwelling after the typical Social Safety profit for one particular person: $15,298
Annual value of dwelling after the typical Social Safety profit for a married couple: $4,373

Sacramento, California

Whole inhabitants: 523,600
Livability: 73
Annual value of dwelling: $56,385
Annual value of dwelling after the typical Social Safety profit for one particular person: $33,932
Annual value of dwelling after the typical Social Safety profit for a married couple: $23,007

Tucson, Arizona

Whole inhabitants: 541,033
Livability: 73
Annual value of dwelling: $43,476
Annual value of dwelling after the typical Social Safety profit for one particular person: $21,023
Annual value of dwelling after the typical Social Safety profit for a married couple: $10,098

Fresno, California

Whole inhabitants: 541,528
Livability: 63
Annual value of dwelling: $48,504
Annual value of dwelling after the typical Social Safety profit for one particular person: $26,051
Annual value of dwelling after the typical Social Safety profit for a married couple: $15,126

Albuquerque, New Mexico

Whole inhabitants: 562,551
Livability: 72
Annual value of dwelling: $42,258
Annual value of dwelling after the typical Social Safety profit for one particular person: $19,805
Annual value of dwelling after the typical Social Safety profit for a married couple: $8,880

Milwaukee, Wisconsin

Whole inhabitants: 573,299
Livability: 79
Annual value of dwelling: $35,673
Annual value of dwelling after the typical Social Safety profit for one particular person: $13,220
Annual value of dwelling after the typical Social Safety profit for a married couple: $2,295

Baltimore, Maryland

Whole inhabitants: 584,548
Livability: 77
Annual value of dwelling: $35,052
Annual value of dwelling after the typical Social Safety profit for one particular person: $12,599
Annual value of dwelling after the typical Social Safety profit for a married couple: $1,674

Louisville, Kentucky

Whole inhabitants: 629,176
Livability: 66
Annual value of dwelling: $38,124
Annual value of dwelling after the typical Social Safety profit for one particular person: $15,671
Annual value of dwelling after the typical Social Safety profit for a married couple: $4,746

Memphis, Tennessee

Whole inhabitants: 630,027
Livability: 70
Annual value of dwelling: $31,243
Annual value of dwelling after the typical Social Safety profit for one particular person: $8,790
Annual value of dwelling after the typical Social Safety profit for a married couple: -$2,136

Detroit, Michigan

Whole inhabitants: 636,787
Livability: 73
Annual value of dwelling: $28,997
Annual value of dwelling after the typical Social Safety profit for one particular person: $6,544
Annual value of dwelling after the typical Social Safety profit for a married couple: -$4,381

Las Vegas, Nevada

Whole inhabitants: 644,835
Livability: 82
Annual value of dwelling: $53,375
Annual value of dwelling after the typical Social Safety profit for one particular person: $30,922
Annual value of dwelling after the typical Social Safety profit for a married couple: $19,997

Portland, Oregon

Whole inhabitants: 646,101
Livability: 78
Annual value of dwelling: $59,286
Annual value of dwelling after the typical Social Safety profit for one particular person: $36,833
Annual value of dwelling after the typical Social Safety profit for a married couple: $25,908

Boston, Massachusetts

Whole inhabitants: 665,945
Livability: 77
Annual value of dwelling: $78,055
Annual value of dwelling after the typical Social Safety profit for one particular person: $55,602
Annual value of dwelling after the typical Social Safety profit for a married couple: $44,677

Washington

Whole inhabitants: 670,587
Livability: 75
Annual value of dwelling: $72,440
Annual value of dwelling after the typical Social Safety profit for one particular person: $49,987
Annual value of dwelling after the typical Social Safety profit for a married couple: $39,062

El Paso, Texas

Whole inhabitants: 677,181
Livability: 81
Annual value of dwelling: $35,947
Annual value of dwelling after the typical Social Safety profit for one particular person: $13,494
Annual value of dwelling after the typical Social Safety profit for a married couple: $2,569

Oklahoma Metropolis, Oklahoma

Whole inhabitants: 681,088
Livability: 81
Annual value of dwelling: $35,873
Annual value of dwelling after the typical Social Safety profit for one particular person: $13,420
Annual value of dwelling after the typical Social Safety profit for a married couple: $2,495

Nashville, Tennessee

Whole inhabitants: 684,103
Livability: 78
Annual value of dwelling: $51,895
Annual value of dwelling after the typical Social Safety profit for one particular person: $29,442
Annual value of dwelling after the typical Social Safety profit for a married couple: $18,516

Denver, Colorado

Whole inhabitants: 710,800
Livability: 72
Annual value of dwelling: $62,269
Annual value of dwelling after the typical Social Safety profit for one particular person: $39,816
Annual value of dwelling after the typical Social Safety profit for a married couple: $28,891

Seattle, Washington

Whole inhabitants: 734,603
Livability: 75
Annual value of dwelling: $84,578
Annual value of dwelling after the typical Social Safety profit for one particular person: $62,125
Annual value of dwelling after the typical Social Safety profit for a married couple: $51,200

San Francisco, California

Whole inhabitants: 851,036
Livability: 75
Annual value of dwelling: $120,055
Annual value of dwelling after the typical Social Safety profit for one particular person: $97,602
Annual value of dwelling after the typical Social Safety profit for a married couple: $86,677

Charlotte, North Carolina

Whole inhabitants: 875,045
Livability: 80
Annual value of dwelling: $48,817
Annual value of dwelling after the typical Social Safety profit for one particular person: $26,364
Annual value of dwelling after the typical Social Safety profit for a married couple: $15,439

Indianapolis, Indiana

Whole inhabitants: 882,006
Livability: 76
Annual value of dwelling: $36,673
Annual value of dwelling after the typical Social Safety profit for one particular person: $14,220
Annual value of dwelling after the typical Social Safety profit for a married couple: $3,295

Columbus, Ohio

Whole inhabitants: 902,449
Livability: 81
Annual value of dwelling: $38,586
Annual value of dwelling after the typical Social Safety profit for one particular person: $16,133
Annual value of dwelling after the typical Social Safety profit for a married couple: $5,208

Fort Value, Texas

Whole inhabitants: 924,663
Livability: 80
Annual value of dwelling: $43,137
Annual value of dwelling after the typical Social Safety profit for one particular person: $20,684
Annual value of dwelling after the typical Social Safety profit for a married couple: $9,759

Jacksonville, Florida

Whole inhabitants: 950,203
Livability: 84
Annual value of dwelling: $42,954
Annual value of dwelling after the typical Social Safety profit for one particular person: $20,501
Annual value of dwelling after the typical Social Safety profit for a married couple: $9,575

Austin, Texas

Whole inhabitants: 958,202
Livability: 83
Annual value of dwelling: $59,365
Annual value of dwelling after the typical Social Safety profit for one particular person: $36,912
Annual value of dwelling after the typical Social Safety profit for a married couple: $25,987

San Jose, California

Whole inhabitants: 1,001,176
Livability: 79
Annual value of dwelling: $126,475
Annual value of dwelling after the typical Social Safety profit for one particular person: $104,022
Annual value of dwelling after the typical Social Safety profit for a married couple: $93,097

Dallas, Texas

Whole inhabitants: 1,300,642
Livability: 81
Annual value of dwelling: $44,762
Annual value of dwelling after the typical Social Safety profit for one particular person: $22,309
Annual value of dwelling after the typical Social Safety profit for a married couple: $11,384

San Diego, California

Whole inhabitants: 1,383,987
Livability: 75
Annual value of dwelling: $98,980
Annual value of dwelling after the typical Social Safety profit for one particular person: $76,527
Annual value of dwelling after the typical Social Safety profit for a married couple: $65,602

San Antonio, Texas

Whole inhabitants: 1,445,662
Livability: 80
Annual value of dwelling: $38,514
Annual value of dwelling after the typical Social Safety profit for one particular person: $16,061
Annual value of dwelling after the typical Social Safety profit for a married couple: $5,136

Philadelphia, Pennsylvania

Whole inhabitants: 1,593,208
Livability: 76
Annual value of dwelling: $39,637
Annual value of dwelling after the typical Social Safety profit for one particular person: $17,184
Annual value of dwelling after the typical Social Safety profit for a married couple: $6,259

Phoenix, Arizona

Whole inhabitants: 1,609,456
Livability: 76
Annual value of dwelling: $51,142
Annual value of dwelling after the typical Social Safety profit for one particular person: $28,689
Annual value of dwelling after the typical Social Safety profit for a married couple: $17,764

Houston, Texas

Whole inhabitants: 2,296,253
Livability: 74
Annual value of dwelling: $40,855
Annual value of dwelling after the typical Social Safety profit for one particular person: $18,402
Annual value of dwelling after the typical Social Safety profit for a married couple: $7,477

Chicago, Illinois

Whole inhabitants: 2,721,914
Livability: 78
Annual value of dwelling: $43,905
Annual value of dwelling after the typical Social Safety profit for one particular person: $21,451
Annual value of dwelling after the typical Social Safety profit for a married couple: $10,526

Los Angeles, California

Whole inhabitants: 3,881,041
Livability: 67
Annual value of dwelling: $91,834
Annual value of dwelling after the typical Social Safety profit for one particular person: $69,381
Annual value of dwelling after the typical Social Safety profit for a married couple: $58,456

New York, New York

Whole inhabitants: 8,622,467
Livability: 75
Annual value of dwelling: $83,596
Annual value of dwelling after the typical Social Safety profit for one particular person: $61,142
Annual value of dwelling after the typical Social Safety profit for a married couple: $50,217