You’ll Struggle To Live Well in Connecticut on Just Your Social Security, Even If Your Mortgage Is Paid Off

Retirees in Connecticut face one of the widest financial gaps in the nation if they rely solely on Social Security to cover their expenses.

According to a Realtor.com® analysis of median Social Security benefits by state and the Elder Economic Security Standard Index, seniors in the Nutmeg State have an annual shortfall of $5,436, or about $453 per month, even with their mortgage paid off.

The math is clear: without some kind of supplemental income, living in Connecticut would be impossible for seniors.

Housing costs as the deciding factor

Retirees in Connecticut face average monthly expenses of $2,612, while the median Social Security benefit is $2,159. With housing costs averaging $983 per month, nearly half of a retiree’s Social Security check is consumed before food, healthcare, or transportation are factored in.

In total, retirees spend close to $1,000 per month on housing-related expenses such as property taxes, insurance, and utilities.

With housing taking up 46% of the typical Social Security benefit, retirees find themselves in deficit territory almost immediately. Compared to states like Alabama ($419 housing costs) or West Virginia ($398), Connecticut’s burden makes Social Security alone wholly inadequate.

Connecticut’s retirement landscape

Connecticut offers undeniable lifestyle perks: proximity to New York City and Boston, charming small towns, and access to the Long Island Sound. The state also boasts some of the best healthcare facilities in the country, including Yale New Haven Health.

But those advantages come at a steep price. Connecticut ranks among the highest in property taxes nationwide, while insurance and utility costs trend well above the U.S. average. For retirees with strong pensions or additional savings, the state remains livable. For those relying exclusively on Social Security, however, the financial math doesn’t work.

How Connecticut compares Nationally

Nationally, retirees living on Social Security alone face an average annual shortfall of $2,762, or about $230 a month. Connecticut’s $5,436 deficit nearly doubles that figure, placing it among the top six most difficult states for affordability in retirement.

Within New England, Connecticut’s struggles are mirrored by its neighbors. Massachusetts retirees face a $7,345 annual shortfall, while New Hampshire’s deficit is $6,564. Rhode Island, with a $4,164 gap, fares somewhat better but still reflects the regional challenge of high housing costs.

The outlook for retirees on Social Security

The looming solvency issue for Social Security deepens the concern. Without reforms, benefits could be reduced to 77% of their current value by 2033. For retirees in Connecticut, today’s $5,436 shortfall would widen to nearly $9,000 annually.

Connecticut’s beauty, amenities, and access to major cities make it an appealing place to live—but not on Social Security alone. Even with a mortgage paid off, retirees will struggle without substantial supplemental income or savings.

This article was produced with editorial input from Dina Sartore-Bodo, Gabriella Iannetta, and Allaire Conte.