Those scores were combined and sorted to find the best places in Louisiana for a couple to live on Social Security benefits alone. The livability index was scored and weighted at 1.50, and the total monthly cost was scored and weighted at 1.20. The livability index was sourced from AreaVibes. Every city’s total monthly cost above the monthly Social Security benefits for a couple was removed. The average Social Security benefits per month were sourced from the Social Security Administration Monthly Statistical Snapshot and doubled to find a couple’s average social security benefits. Adding those figures to monthly expenditure costs provides the total monthly cost for living in each city. The average rent for each city was sourced from the Zillow Observed Rental Index. Each cost-of-living index was multiplied by each expenditure category’s national average cost as sourced from the Bureau of Labor Statistics 2022 consumer expenditure survey to find the expenditure costs in each city. For each city, GOBankingRates checked cost-of-living indexes from Sperling’s Best Places across multiple expenditure categories including groceries, healthcare, utilities, transportation and miscellaneous. Methodology: To find the best places in Louisiana for a couple to live on only Social Security benefits, GOBankingRates gathered populations for cities in Louisiana through the US Census American Consumer Survey. Visitors and the city’s 21,000 residents have easy access to the Creole Nature Trail, local history via the Brimstone Museum and golf at the Frasch Golf Course. Sulphur offers retirees on tight budgets the lowest overall total cost of living in our top 10, along with the third-lowest rent. Our top city is located about 12 miles west of Lake Charles. SulphurĪverage total monthly cost of living: $2,722.19 Here they are, in reverse order, from No. You won’t find New Orleans on our list, but you will find affordable destinations in a range of sizes. That comes in handy for couples living off of an average combined Social Security benefit of about $3,580. Most of the destinations in our list offer average monthly rents around $1,000, and total average monthly living costs below $3,000. You can find our full methodology at the end of the story. Census, the Bureau of Labor Statistics and Sperling’s Best Places. To come up with our list, we’ve analyzed data from Zillow, AreaVibes, the U.S. GOBankingRates has rounded up the state’s best blends of Social Security-only affordability and livability. On the not-so-positive side, the summers can be brutally hot and humid, natural disasters such as hurricanes are not uncommon, and crime rates are high in many parts of the state.įor couples living on Social Security alone, Louisiana offers many affordable destinations. Related: 10 Places To Retire That Are Just Like Arizona but Way Cheaperĭiscover: 3 Ways To Recession-Proof Your Retirement On the positive side, the Pelican State offers low living costs and taxes, mild winters, an abundance of outdoor recreation, famous cuisine and a ton of rich, unique culture. DenisTangneyJr / Getty Images/iStockphoto
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