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The best places to live on a fixed income

GOBankingRates Logo By Andrew DePietro of GOBankingRates | Slide 1 of 49: <p>The average Social Security benefit for retired workers is $1,360 per month as of January 2017. That comes out to $16,320 in benefits for a single person annually or $32,640 per year for a couple — about $20,000 less than the U.S. median household income of $56,516.</p><p>Living on a fixed income basically means you're solely or almost entirely dependent on funds like Social Security, pensions, inheritance and so on, with little to no flexibility in the amount you're paid. Unstable costs, such as a volatile housing market, can be especially challenging to deal with on a fixed income.</p><p>To find the No. 1 metro area in each state to live on a fixed income, GOBankingRates conducted a state-by-state cost-of-living comparison study — with the exception of Maine and South Dakota, due to insufficient data for those states. Although these aren't the cheapest places to live, they do offer stable housing expenses and overall cost of living. Click through to <a href="https://www.gobankingrates.com/retirement/best-places-live-only-social-security-check/">see the best places to live on a fixed income</a>.</p>

Best Places in Every State to Live on Fixed Income

The average Social Security benefit for retired workers is $1,360 per month as of January 2017. That comes out to $16,320 in benefits for a single person annually or $32,640 per year for a couple — about $20,000 less than the U.S. median household income of $56,516.

Living on a fixed income basically means you're solely or almost entirely dependent on funds like Social Security, pensions, inheritance and so on, with little to no flexibility in the amount you're paid. Unstable costs, such as a volatile housing market, can be especially challenging to deal with on a fixed income.

To find the No. 1 metro area in each state to live on a fixed income, GOBankingRates conducted a state-by-state cost-of-living comparison study — with the exception of Maine and South Dakota, due to insufficient data for those states. Although these aren't the cheapest places to live, they do offer stable housing expenses and overall cost of living. Click through to see the best places to live on a fixed income.

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