KENT PATRICK: The hidden cost quietly squeezing your retirement plan

Housing has become a retirement expense that Social Security increases cannot always cover. Here is what the numbers show and how thoughtful planning can help. A raise that is already spoken for In January 2027, Social Security benefits will increase 3.6%, providing the average retiree approximately $75 more each month. While welcome, that increase may already be consumed by rising household expenses. Social Security’s cost-of-living adjustment (COLA) follows a broad inflation measure, not individual expenses such as property taxes, homeowners insurance, or unexpected repairs. When those costs rise faster than benefits, retirees may need to draw more from savings. “Paid off” does not mean “free” Even without a mortgage, homeownership carries significant costs. A Zillow and Thumbtack analysis estimates that homeowners spend approximately $16,566 annually, or $1,380 monthly, on property taxes, insurance, and maintenance. That represents a 32% increase over five years.

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