Ah, another take on the fact that the cost of living is affordable in the Augusta area.
U.S. News & World Report, which makes a good living off its college rankings, has ranked metro areas on its affordability for retirees. And Augusta is among the top of that list.
The premise, if you’ve got $40,000 annually to cover living expenses, where would you be able to pull it off? Certainly not Honolulu.
U.S. News & World Report says that with Social Security, and a little bit extra from savings accounts, the average retired couple should be able to muster $40,000 each year.
So, if they lived in Augusta, the magazine says the median household expenses for those renting would be $636. If they’ve got a house with a mortgage, the median household expenses is $1,064 – only $353 for house that’s paid off.
The numbers, and the list, comes from analyzing 2011 Census Bureau data and screening for places with low housing costs with good amenities for seniors.
The other places in the top 10: Columbia, Pittsburgh, Jackson, Miss., Albuquerque, N.M., Knoxville, Tenn., Little Rock, Ark., Louisville, Ky., St. Louis and San Antonio.