(NEXSTAR) \u2013 It\u2019s the dream of many Americans: the hope to one day pay off your mortgage and retire knowing you\u2019re financially set, and you can do whatever your heart desires.<\/p>\n
Unfortunately, this isn\u2019t the typical reality for the majority of U.S. residents due to the rising cost of housing across the entire country.<\/p>\n
A new report from Realtor.com<\/a> now shows that Americans in only ten states can live comfortably on Social Security benefits alone after retirement if they\u2019ve paid off their mortgage.<\/p>\n To find this, Realtor.com analyzed median\u00a0Social Security benefits\u00a0by state and the\u00a0Elder Economic Security Standard Index, which tracks the basic living cost of older adults. What they discovered was that, over the past five years, the cost of homeownership has increased by about 26 percent, primarily due to hidden expenses.<\/p>\n After you pay off your mortgage, there are still monthly \u201chidden\u201d expenses to pay, such as property taxes, utilities and home insurance. Due to the rising cost of these expenses, the average retiree falls about $2,762 short every year, or roughly $230 a month, if they were to live solely off Social Security benefits.<\/p>\n Of the ten states where the average retiree isn\u2019t falling short of their expenses, Delaware stands at the top, with residents having an annual surplus of $1,764 thanks to their Social Security benefits. This is because, on average, the typical Delaware retiree receives about $2,139 in benefits, while the average cost of monthly living expenses is $1,992. This leaves each retiree with an extra $147 per month, or $1,764 a year, according to Realtor.com<\/a>.<\/p>\n Not far behind is Indiana, with a surplus of $1,392, followed by Arizona, with $1,224.<\/p>\n Here\u2019s the full list of the ten states where Social Security benefits alone can cover your living expenses.<\/p>\n Rank<\/p>\n State<\/p>\n Annual Surplus<\/p>\n Median Monthly Benefits<\/p>\n Total Monthly Costs<\/p>\n 1.<\/p>\n Delaware<\/p>\n + $1,764<\/p>\n $2,139<\/p>\n $1,992<\/p>\n 2.<\/p>\n Indiana<\/p>\n + $1,392<\/p>\n $2,016<\/p>\n $1,900<\/p>\n 3.<\/p>\n Arizona<\/p>\n + $1,224<\/p>\n $1,976<\/p>\n $1,874<\/p>\n 4.<\/p>\n Utah<\/p>\n + $888<\/p>\n $2,007<\/p>\n $1,933<\/p>\n 5.<\/p>\n South Carolina<\/p>\n + $828<\/p>\n $1,929<\/p>\n $1,860<\/p>\n 6.<\/p>\n West Virginia<\/p>\n + $660<\/p>\n $1,861<\/p>\n $1,806<\/p>\n 7.<\/p>\n Alabama<\/p>\n + $576<\/p>\n $1,853<\/p>\n $1,805<\/p>\n 8.<\/p>\n Nevada<\/p>\n + $432<\/p>\n $1,841<\/p>\n $1,805<\/p>\n 9.<\/p>\n Tennessee<\/p>\n + $156<\/p>\n $1,883<\/p>\n $1,870<\/p>\n 10.<\/p>\n Michigan<\/p>\n + $132<\/p>\n $2,067<\/p>\n $2,056<\/p>\n On the other end of the list, several states fall extremely short of being able to have benefits alone cover their living expenses.<\/p>\n Vermont lands at the very bottom with the average retiree being $8,088 short annually, or $674 per month. After that, New Jersey, Massachusetts and New York all fall roughly between $7,300-$7,500 short every year.<\/p>\n To see the full list and how retirees in your state are faring, check out the report on Realtor.com<\/a>.<\/p>\n Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.<\/p>\n