SOUTH CAROLINA: COLUMBIA
South Carolina doesn’t tax Social Security benefits, according to SmartAsset. And the average effective property tax rate is only 0.57 percent, one of the lowest in the country, according to Tax Foundation. Columbia is the best place in the state for people on a fixed income because home prices are relatively affordable, with the median home value at $127,400. The housing market is also stable, with a 3 percent year-over-year increase.
SOUTH DAKOTA: RAPID CITY
Rent is decreasing in Rapid City, and the median rent is now $1,270. Meanwhile, home values are rising. The year-over-year increase in home values was about 5 percent.
TENNESSEE: MORRISTOWN
People living on fixed incomes can benefit from the low volatility and steady growth of home values in Morristown. The metro area’s median home value rose less than 3 percent year over year. Another money-saver for fixed-income residents is rent cost. The median rent in Morristown increased year over year from 2017 but is still below $1,000.
