25 Best Pennsylvania Cities To Retire on $2,000 a Month
By Deborah Sabinus,
3 hours ago
Pennsylvania has repeatedly been ranked among the best places to retire in the U.S. for myriad reasons. For many retirees, Pennsylvania has major appeal as a retirement destination because it’ doesn’t tax retirement funds, like pensions and Social Security. It also has a wide landscape that has the right mix of cities and towns based on your preferences and hobbies.
Read Next: 8 States To Move to If You Don’t Want To Pay Taxes on Social Security
Find Out: The Surprising Way You Can Get Guaranteed Retirement Income for Life
So where in the state can a retiree locate and live comfortably on a $2,000 budget? Here are 25 top Pennsylvania locations where you can retire on $2,000 a month .
Renovo
- Population total: 1,081
- Population 65-plus: 230
- Percentage of population 65-plus: 21.3%
- Household total: 533
- Household median income: $28,750
- Household average value May 2024: $62,795
- Mortgage monthly average cost: $374
- Expenditure monthly average cost: $1,702
- Total monthly cost of living: $2,076
- Total annual cost of living: $24,913
- Total monthly cost of living after Social Security benefits (one person): $208.24
- Total annual cost of living after Social Security benefits (one person): $23,045.03
Be Aware: How Long $1 Million in Retirement Will Last in Every State
Learn More: 40 States Where You’ll Feel the Biggest Social Security Increase This Year
Hermitage
- Population total: 16,216
- Population 65-plus: 4,372
- Percentage of population 65-plus: 27.0%
- Household total: 7,631
- Household median income: $66,922
- Household average value May 2024: $201,521
- Mortgage monthly average cost: $1,201
- Expenditure monthly average cost: $1,615
- Total monthly cost of living: $2,815
- Total annual cost of living: $33,781
- Total monthly cost of living after Social Security benefits (one person): $947.24
- Total annual cost of living after Social Security benefits (one person): $31,913.04
Read Next: The Standard Retirement Age in the US vs. 5 European Countries
North Belle Vernon
- Population total: 1,598
- Population 65-plus: 325
- Percentage of population 65-plus: 20.3%
- Household total: 750
- Household median income: $51,293
- Household average value May 2024: $133,365
- Mortgage monthly average cost: $795
- Expenditure monthly average cost: $1,667
- Total monthly cost of living: $2,461
- Total annual cost of living: $29,533
- Total monthly cost of living after Social Security benefits (one person): $593.26
- Total annual cost of living after Social Security benefits (one person): $27,665.26
Brackenridge
- Population total: 3,214
- Population 65-plus: 675
- Percentage of population 65-plus: 21.0%
- Household total: 1,551
- Household median income: $49,388
- Household average value May 2024: $114,500
- Mortgage monthly average cost: $682
- Expenditure monthly average cost: $1,690
- Total monthly cost of living: $2,372
- Total annual cost of living: $28,464
- Total monthly cost of living after Social Security benefits (one person): $504.18
- Total annual cost of living after Social Security benefits (one person): $26,596.35
Arnold
- Population total: 4,778
- Population 65-plus: 873
- Percentage of population 65-plus: 18.3%
- Household total: 2,107
- Household median income: $38,150
- Household average value May 2024: $77,462
- Mortgage monthly average cost: $461
- Expenditure monthly average cost: $1,651
- Total monthly cost of living: $2,112
- Total annual cost of living: $25,345
- Total monthly cost of living after Social Security benefits (one person): $244.26
- Total annual cost of living after Social Security benefits (one person): $23,477.24
Luzerne
- Population total: 2,718
- Population 65-plus: 619
- Percentage of population 65-plus: 22.8%
- Household total: 1,403
- Household median income: $39,471
- Household average value May 2024: $146,881
- Mortgage monthly average cost: $875
- Expenditure monthly average cost: $1,676
- Total monthly cost of living: $2,551
- Total annual cost of living: $30,616
- Total monthly cost of living after Social Security benefits (one person): $683.47
- Total annual cost of living after Social Security benefits (one person): $28,747.80
Check Out: What a Middle-Class Social Security Check Could Look Like in 2025
Erie
- Population total: 94,826
- Population 65-plus: 14,731
- Percentage of population 65-plus: 15.5%
- Household total: 39,180
- Household median income: $43,135
- Household average value May 2024: $179,316
- Mortgage monthly average cost: $1,068
- Expenditure monthly average cost: $1,615
- Total monthly cost of living: $2,683
- Total annual cost of living: $32,199
- Total monthly cost of living after Social Security benefits (one person): $815.43
- Total annual cost of living after Social Security benefits (one person): $30,331.24
Port Carbon
- Population total: 1,748
- Population 65-plus: 416
- Percentage of population 65-plus: 23.8%
- Household total: 798
- Household median income: $54,706
- Household average value May 2024: $118,016
- Mortgage monthly average cost: $703
- Expenditure monthly average cost: $1,781
- Total monthly cost of living: $2,484
- Total annual cost of living: $29,808
- Total monthly cost of living after Social Security benefits (one person): $616.19
- Total annual cost of living after Social Security benefits (one person): $27,940.37
Hydetown
- Population total: 647
- Population 65-plus: 183
- Percentage of population 65-plus: 28.3%
- Household total: 286
- Household median income: $45,179
- Household average value May 2024: $112,739
- Mortgage monthly average cost: $672
- Expenditure monthly average cost: $1,684
- Total monthly cost of living: $2,356
- Total annual cost of living: $28,267
- Total monthly cost of living after Social Security benefits (one person): $487.78
- Total annual cost of living after Social Security benefits (one person): $26,339.45
Corry
- Population total: 6,209
- Population 65-plus: 1,508
- Percentage of population 65-plus: 24.3%
- Household total: 3,004
- Household median income: $44,138
- Household average value May 2024: $143,108
- Mortgage monthly average cost: $853
- Expenditure monthly average cost: $1,633
- Total monthly cost of living: $2,485
- Total annual cost of living: $29,823
- Total monthly cost of living after Social Security benefits (one person): $617.41
- Total annual cost of living after Social Security benefits (one person): $27,955.01
Discover More: Grant Cardone: $5 Million Is Now the Magic Number for Retirement Savings
Warren
- Population total: 9,353
- Population 65-plus: 1,986
- Percentage of population 65-plus: 21.2%
- Household total: 4,303
- Household median income: $49,609
- Household average value May 2024: $148,004
- Mortgage monthly average cost: $882
- Expenditure monthly average cost: $1,678
- Total monthly cost of living: $2,560
- Total annual cost of living: $30,718
- Total monthly cost of living after Social Security benefits (one person): $692.03
- Total annual cost of living after Social Security benefits (one person): $28,850.44
Franklin
- Population total: 6,066
- Population 65-plus: 1,323
- Percentage of population 65-plus: 21.8%
- Household total: 2,676
- Household median income: $54,235
- Household average value May 2024: $129,370
- Mortgage monthly average cost: $771
- Expenditure monthly average cost: $1,588
- Total monthly cost of living: $2,359
- Total annual cost of living: $28,308
- Total monthly cost of living after Social Security benefits (one person): $491.16
- Total annual cost of living after Social Security benefits (one person): $26,440.09
Altoona
- Population total: 43,821
- Population 65-plus: 7,628
- Percentage of population 65-plus: 17.4%
- Household total: 18,418
- Household median income: $50,435
- Household average value May 2024: $140,427
- Mortgage monthly average cost: $837
- Expenditure monthly average cost: $1,624
- Total monthly cost of living: $2,461
- Total annual cost of living: $29,527
- Total monthly cost of living after Social Security benefits (one person): $592.75
- Total annual cost of living after Social Security benefits (one person): $27,659.14
Monessen
- Population total: 6,876
- Population 65-plus: 1,602
- Percentage of population 65-plus: 23.3%
- Household total: 3,236
- Household median income: $51,364
- Household average value May 2024: $81,437
- Mortgage monthly average cost: $485
- Expenditure monthly average cost: $1,622
- Total monthly cost of living: $2,107
- Total annual cost of living: $25,290
- Total monthly cost of living after Social Security benefits (one person): $239.64
- Total annual cost of living after Social Security benefits (one person): $23,421.79
Try This: 6 Expenses Retirees Never Regret Keeping in Their Budgets, According to Experts
Johnstown
- Population total: 18,429
- Population 65-plus: 3,599
- Percentage of population 65-plus: 19.5%
- Household total: 9,061
- Household median income: $33,466
- Household average value May 2024: $96,651
- Mortgage monthly average cost: $576
- Expenditure monthly average cost: $1,698
- Total monthly cost of living: $2,274
- Total annual cost of living: $27,288
- Total monthly cost of living after Social Security benefits (one person): $406.14
- Total annual cost of living after Social Security benefits (one person): $25,419.86
Oil City
- Population total: 9,599
- Population 65-plus: 1,882
- Percentage of population 65-plus: 19.6%
- Household total : 4,054
- Household median income: $48,632
- Household average value May 2024: $89,460
- Mortgage monthly average cost: $533
- Expenditure monthly average cost: $1,602
- Total monthly cost of living: $2,135
- Total annual cost of living: $25,614
- Total monthly cost of living after Social Security benefits (one person): $266.71
- Total annual cost of living after Social Security benefits (one person): $23,746.62
Farrell
- Population total: 4,280
- Population 65-plus: 996
- Percentage of population 65-plus: 23.3%
- Household total: 1,976
- Household median income: $29,063
- Household average value May 2024: $59,524
- Mortgage monthly average cost: $355
- Expenditure monthly average cost: $1,581
- Total monthly cost of living: $1,936
- Total annual cost of living: $23,226
- Total monthly cost of living after Social Security benefits (one person): $67.69
- Total annual cost of living after Social Security benefits (one person): $21,358.35
Meadville
- Population total: 12,929
- Population 65-plus: 2,107
- Percentage of population 65-plus: 16.3%
- Household total: 4,812
- Household median income: $46,157
- Household average value May 2024: $148,350
- Mortgage monthly average cost: $884
- Expenditure monthly average cost: $1,647
- Total monthly cost of living: $2,531
- Total annual cost of living: $30,366
- Total monthly cost of living after Social Security benefits (one person): $662.70
- Total annual cost of living after Social Security benefits (one person): $29,498.48
Trending Now: I’m Retired and Regret My Frugal Retirement — Here’s Why
Uniontown
- Population total: 9,913
- Population 65-plus: 2,092
- Percentage of population 65-plus: 21.1%
- Household total: 4,845
- Household median income: $37,886
- Household average value May 2024: $149,271
- Mortgage monthly average cost: $889
- Expenditure monthly average cost: $1,588
- Total monthly cost of living: $2,477
- Total annual cost of living: $29,728
- Total monthly cost of living after Social Security benefits (one person): $609.47
- Total annual cost of living after Social Security benefits (one person): $27,859.77
Punxsutawney
- Population total: 5,730
- Population 65-plus: 1,533
- Percentage of population 65-plus: 26.8%
- Household total: 2,578
- Household median income: $43,160
- Household average value May 2024: $109,479
- Mortgage monthly average cost: $652
- Expenditure monthly average cost: $1,718
- Total monthly cost of living: $2,370
- Total annual cost of living: $28,441
- Total monthly cost of living after Social Security benefits (one person): $502.26
- Total annual cost of living after Social Security benefits (one person): $26,573.25
Seneca
- Population total: 911
- Population 65-plus: 251
- Percentage of population 65-plus: 27.6%
- Household total: 426
- Household median income: $55,357
- Household average value May 2024: $161,498
- Mortgage monthly average cost: $962
- Expenditure monthly average cost: $1,626
- Total monthly cost of living: $2,588
- Total annual cost of living: $31,054
- Total monthly cost of living after Social Security benefits (one person): $720.00
- Total annual cost of living after Social Security benefits (one person): $29,186.12
New Castle
- Population total: 21,863
- Population 65-plus: 4,002
- Percentage of population 65-plus: 18.3
- Household total: 9,145
- Household median income: $39,948
- Household average value May 2024: $137,741
- Mortgage monthly average cost: $821
- Expenditure monthly average cost: $1,578
- Total monthly cost of living: $2,399
- Total annual cost of living: $28,788
- Total monthly cost of living after Social Security benefits (one person): $531.17
- Total annual cost of living after Social Security benefits (one person): $26,920.19
For You: I’m Planning My Retirement: 5 Expenses I Wish I Had Cut Sooner
Sharon
- Population total: 13,143
- Population 65-plus: 2,541
- Percentage of population 65-plus: 19.3%
- Household total: 6,144
- Household median income: $40,089
- Household average value May 2024: $62,642
- Mortgage monthly average cost: $373
- Expenditure monthly average cost: $1,570
- Total monthly cost of living: $1,943
- Total annual cost of living: $23,321
- Total monthly cost of living after Social Security benefits (one person): $75.59
- Total annual cost of living after Social Security benefits (one person): $21,453.17
Titusville
- Population total: 5,262
- Population 65-plus: 1,250
- Percentage of population 65-plus: 23.8%
- Household total: 2,340
- Household median income: $36,071
- Household average value May 2024: $103,403
- Mortgage monthly average cost: $616
- Expenditure monthly average cost: $1,680
- Total monthly cost of living: $2,296
- Total annual cost of living: $27,557
- Total monthly cost of living after Social Security benefits (one person): $428.59
- Total annual cost of living after Social Security benefits (one person): $25,689.25
Homestead
- Population total: 2,905
- Population 65-plus: 767
- Percentage of population 65-plus: 26.4%
- Household total: 1,264
- Household median income: $29,306
- Household average value May 2024: $82,797
- Mortgage monthly average cost: $493
- Expenditure monthly average cost: $1,745
- Total monthly cost of living: $2,238
- Total annual cost of living: $26,854
- Total monthly cost of living after Social Security benefits (one person): $370.03
- Total annual cost of living after Social Security benefits (one person): $24,986.46
Photo Disclaimer: Please note photos are for representational purposes only. As a result, some of the photos might not reflect the locations listed in this article.
Methodology: For this study, GOBankingRates found the best Pennsylvania cities to retire for $2,000 a month. First, GOBankingRates found cities in Pennsylvania along with their total population, population aged 65 and up, total households, and household median income as sourced from the U.S. Census American Community Survey. To qualify for this study, each city had to have data available for all sources. For each city, a number of factors were found, including cost of living indexes as sourced from Sperling’s BestPlaces, and by using the national average expenditure cost for retired residents, as sourced from the Bureau of Labor Statistics 2022 Consumer Expenditure Survey, the average expenditure cost for each city can be calculated. The average mortgage cost can be calculated by using the Zillow Home Value Index to find the average single-family home value from May 2024. By assuming a 10% down payment and using the national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated for each city. The mortgage and expenditure costs are used to find the average monthly total cost of living. The livability index was sourced from AreaVibes for each city. Three cities qualify for this study without Social Security benefits sorted to show the highest to lowest livability. The average full Social Security benefits for one person were sourced from the Social Security Administration. The monthly total cost of living after Social Security benefits was calculated. The percentage of the population aged 65 and over was scored and weighted at 1.00, the monthly average expenditure cost was scored and weighted at 1.50, the average mortgage cost was scored and weighted at 1.50, and the livability index was scored and weighted at 1.25. All the scores were summed and sorted to show the best places to retire on $2,000 a month after Social Security. All data was collected on and is up to date as of July 12, 2024.
This article originally appeared on GOBankingRates.com : 25 Best Pennsylvania Cities To Retire on $2,000 a Month
Most PopularThe leading platform for local news and information.
By using cutting-edge technology that learns users’ preferences to curate tailored content for them, NewsBreak gathers community-focused news and information from over 10,000 sources in a timely, accessible, and easy-to-use way at no cost to users.
NewsBreak does not allow any content that expresses hate or promotes false information. Instead, we strive to give businesses, communities, and users accurate and reliable local news and information. Join us in shaping the news narrative together.
For more information, please see our Terms of Use and Community Standards.
Comments / 0