West Virginia 1 of 10 states where social security can cover living expenses: Report

CLARKSBURG, W.Va. (WBOY) — Are you set to retire and have your mortgage paid off? If you live in West Virginia, you may have a financially secure future ahead of you.

According to a report by Relator.com, West Virginia is one of only ten states where those who have retired and paid off their mortgage can live comfortably off of Social Security alone.

The study shows that in West Virginia specifically the total monthly costs come to $1,806, with monthly housing costs at $398 and the median monthly benefit coming in at $1,861, leaving an annual surplus at over $660.

The study credits this, along with other states on the list, to “relatively modest housing costs”, which continue to rise in other places across the United States. West Virginia was ranked the most affordable state to live in in 2024.

It should also be noted however that while this money can cover living costs, you should also budget for things like property taxes, insurance, utilities and maintenance when planning for retirement.