Retirement is a time to relax and enjoy the fruits of years of hard work. However, for many retirees, especially those relying solely on Social Security, managing finances can be challenging. Social Security may not cover all living expenses, so choosing an affordable place to retire is crucial. While New Jersey is often known for its high living costs, there are several hidden gems across the state where retirees can stretch their Social Security benefits further.
The Challenge of Retiring on Social Security in New Jersey
New Jersey is one of the least affordable states for retirees, with living costs 19.5% higher than the national average. Housing costs, particularly property taxes, can be a burden, but the state does offer some relief—Social Security benefits are exempt from state income tax. Despite these benefits, the slight increase in the 2025 Social Security Cost of Living Adjustment (COLA)—projected to be just 2.5%—may not fully offset inflationary pressures that retirees are facing.
Moreover, Social Security’s funding outlook is concerning. The 2024 Annual Trust Fund Report predicts the Social Security trust fund could be depleted by 2033, which could impact future benefits. For those relying solely on Social Security, this uncertainty makes it important to find affordable places to live.
The Importance of Financial Planning
Planning for retirement is crucial to maintaining a comfortable lifestyle. Many retirees face financial struggles due to inadequate planning, but having a structured financial plan in place can help. Consulting a financial advisor can provide retirees with peace of mind and confidence, especially when planning on a fixed income like Social Security.
Methodology for Ranking the Best Places
This list of the best towns in New Jersey for couples on Social Security was created by considering key factors such as cost of living, housing affordability, and accessibility to amenities. Livability scores and median rent prices were taken into account to highlight towns that offer both affordability and a high quality of life.
15 Best Places in New Jersey for Couples on Social Security
1.Bridgeton
Livability Score: 74
Median Rent: $1,450
Cost of Living Index: 94.8
Bridgeton stands out for its affordability, offering scenic waterfront views and easy access to major cities. It’s an excellent choice for retirees who want a peaceful, picturesque setting without breaking the bank.
2. Vineland
Livability Score: 66
Median Rent: $1,729
Cost of Living Index: 89.8
With its affordability and proximity to wineries and Atlantic City, Vineland strikes a perfect balance between relaxation and entertainment. Its welcoming community is ideal for retirees seeking a slower pace of life.
3. Millville
Livability Score: 65
Median Rent: $1,600
Cost of Living Index: 94.3
For those who love nature, Millville’s nature reserves and wildlife areas provide a serene atmosphere. This town offers a peaceful retirement while still being affordable.
4. Linwood
Livability Score: 76
Median Rent: $1,850
Cost of Living Index: 93.9
Located near Atlantic City, Linwood offers retirees easy access to beaches and entertainment while keeping costs relatively low. It’s perfect for those who want a combination of relaxation and excitement.
5. Camden
Livability Score: 70
Median Rent: $1,600
Cost of Living Index: 98.6
Known for its affordable housing and proximity to Philadelphia, Camden provides retirees with access to cultural and historical landmarks while remaining budget-friendly.
6. Gloucester City
Livability Score: 72
Median Rent: $1,900
Cost of Living Index: 96.1
With easy access to Philadelphia, Gloucester City offers a convenient location, affordable housing, and a mix of natural beauty and entertainment options.
7. Woodbury
Livability Score: 72
Median Rent: $1,713
Cost of Living Index: 103.0
Rich in history, Woodbury offers retirees a peaceful environment with historical attractions and easy access to parks and nature.
8. Collingswood
Livability Score: 79
Median Rent: $1,895
Cost of Living Index: 101.6
Collingswood is a charming, community-oriented town with a vibrant farmers’ market. Its welcoming atmosphere makes it ideal for retirees seeking a strong sense of community.
9. Northfield
Livability Score: 75
Median Rent: $1,942
Cost of Living Index: 98.0
Located near Atlantic City, Northfield offers retirees a small-town vibe with easy access to the shore and all that the nearby city has to offer.
10. Phillipsburg
Livability Score: 73
Median Rent: $1,617
Cost of Living Index: 109.4
Situated along the Delaware River, Phillipsburg’s historical landmarks and beautiful views make it an affordable and attractive place to retire.
11. Newton
Livability Score: 74
Median Rent: $1,725
Cost of Living Index: 108.5
Nestled in the scenic Kittatinny Valley, Newton offers retirees access to state parks and hiking trails, making it a great option for those who enjoy outdoor activities.
12. Blackwood
Livability Score: 69
Median Rent: $1,695
Cost of Living Index: 104.6
Blackwood offers affordable housing and proximity to outdoor recreation, making it a quiet and peaceful place for retirees.
13. Pitman
Livability Score: 75
Median Rent: $1,700
Cost of Living Index: 105.5
With its vibrant cultural scene and lower cost of living, Pitman provides a small-town charm with plenty of things to do.
14. Absecon
Livability Score: 72
Median Rent: $1,975
Cost of Living Index: 103.0
Close to Atlantic City’s entertainment options, Absecon also offers access to beautiful beaches and parks, making it a great option for retirees seeking balance.
15. Trenton
Livability Score: 76
Median Rent: $2,000
Cost of Living Index: 107.3
Though it has a higher cost of living than some of the other towns on this list, Trenton’s historical attractions and proximity to larger metropolitan areas make it a desirable choice for retirees.
Conclusion
New Jersey may have a reputation for being an expensive state to retire in, but with careful planning, there are plenty of affordable and livable towns where couples can make the most of their Social Security benefits. Whether you’re drawn to the quiet charm of Bridgeton, the cultural offerings of Camden, or the natural beauty of Millville, these towns provide a range of options for retirees looking to settle down in the Garden State.
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