Researchers from the Center for Social and Demographic Research on Aging studied each state in the U.S. and determined how much it costs for the average adult age 65 and older just to live. They calculated essential costs like housing, healthcare, food, and transportation, as well as some basic household items like a phone and hygiene items. What they didn’t include were all the non-essential costs, like vacations, meals at restaurants, entertainment, and gifts. The researchers then ranked all the states in terms of affordability.
The least expensive states are Arkansas, Alabama, Kentucky, West Virginia, and Ohio. These states are considerably more affordable, costing the average 65-year-old couple roughly $30,000 per year to cover the essentials. Keep in mind, too, that these are averages across the entire states. The cost of living can vary widely from city to city, so some towns may be more or less expensive than average.
The most expensive states for seniors include Massachusetts, Hawaii, Maryland, and New York. Washington D.C. also made the list. In each of these places, it costs more than $40,000 per year for a 65-year-old couple just to live on the bare minimum.
