The average retired worker now receives a bit more than $2,000 a month from Social Security. Meanwhile, in most cities, average one-bedroom rents are close to or exceeding the amount. That means that many retirees begin their month in the red before even considering food, medicine, or anything enjoyable.
A recent study by FinanceBuzz compared the median one-bedroom rent in 100 large cities with the average Social Security check. Rent is above a typical household’s budget in certain locations, so a painful gap needs to be bridged with savings, part-time employment, or family assistance.
Below are 10 cities where rent costs more than the average Social Security check, details that matter if you want a stress‑free retirement and a solid plan for your golden years…