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24/7 Wall St.: States Where Seniors Cannot Afford to Live

3. Hawaii

Elderly economic security gap: $8,904
Median elder income: $20,700 (3rd highest)
Annual cost of comfortable living for an elder: $29,604 (the highest)
Life expectancy in years: 81.5 (the longest)
Housing costs per month: $1,329 (the highest)
Health care costs per month: $377 (12th lowest)

According to the latest census figures, 14.5% of Hawaii’s population is 65 and older, the eighth-highest proportion in the U.S. Life expectancy is 81.5 years, the longest in the country. According to MERIC’s cost of living index, expenses are higher in Hawaii than anywhere else in the country for every major category except health care, in which Hawaii’s is second. This high cost of living also affects Hawaii’s substantial elderly population. According to WOW’s economic security index, the annual cost of living for a single, renting retiree is just under $30,000 — the highest in the country. The biggest of these expenses is housing, which comes to $15,948 each year — by far the largest in the country.

(AP Photo)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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