Social Security Covers 30% Retirement Costs Across U.S. Cities

According to multiple reports and analyses from LendingTree, Social Security benefits cover on average about 30 percent of retirees' spending across the 100 largest U.S. metropolitan areas, with significant variation depending on location. McAllen, Texas, tops the list where Social Security stretches the furthest, covering approximately 34.6 percent of retiree expenses thanks to its low cost of living, followed by cities like Buffalo, New York, and El Paso, Texas. Conversely, California cities, including San Francisco, see the lowest coverage ratios, with Social Security benefits covering a smaller share of retirement costs due to high living expenses. The average annual spending for retirees is around $71,400 pretax, while the average Social Security income is about $21,500, highlighting the need for supplemental income for most retirees. Despite Social Security lifting over 22 million people out of poverty each year and being the primary income source for half of older adults, many retirees face financial challenges as their benefits do not fully meet their basic living needs, especially in high-cost areas. Additionally, updates to the Social Security program in 2025 aim to improve access and fairness, although concerns about the program's long-term solvency remain.