Study: Maui County Among Best Places in State for Living on Social SecurityApril 14, 2016, 10:08 AM HST (Updated April 14, 2016, 10:08 AM) · 1 Comment
In its second annual study, SmartAsset, a New York financial technology company, determined that Maui County ranked second in the state for the best places to live on Social Security, up from No. 4 in last year’s study.
The study analyzed Social Security income, cost of living data, and taxes across all counties in the nation to determine where people are getting the most mileage out of Social Security.
Maui County’s average annual cost of living was estimated to be $21,785, with an average annual Social Security income of $17,889.
The State of Hawai‘i’s average annual cost of living was estimated to be $22,083, with an average annual Social Security income of $16,056.
Nationwide, the average annual cost of living was calculated at $18,088, with an average annual Social Security income of $16,979.
Check out the table below to see how the top counties in Hawai‘i stacked up.
|Rank||County||Cost of Living||Annual Social Security||Social Security Goes Furthest Index|
The full study results, methodology, and interactive map can be found here.