Overview

• Realtor.com’s state-by-state review shows benefits alone cover baseline living costs in just 10 states, including Delaware, Indiana, Arizona, Utah and South Carolina, with West Virginia, Alabama, Nevada, Tennessee and Michigan also making the list.
• Even mortgage-free retirees face an average shortfall of about $2,762 a year, or roughly $230 per month, between benefits and basic expenses.
• Homeownership costs have climbed 26% in five years due to property taxes, insurance, utilities and maintenance, which the analysis identifies as the primary budget pressure.
• The largest gaps appear in Vermont (-$8,088), New Jersey (-$7,512), Massachusetts (-$7,345), New York (-$7,248) and New Hampshire (-$6,564), while Delaware shows a $1,764 annual surplus.
• With nearly three-quarters of older Americans relying on Social Security for most of their income, experts advise cutting housing costs through downsizing or house sharing and comparing Medicare plans ahead of fall enrollment.