Key Points
-
The 2027 Social Security COLA is estimated to be 3.8%.
-
States with higher average incomes will see their average benefits increase the most.
-
You’ll be able to determine your 2027 benefit once the Social Security Administration announces the COLA in October.
An above-average Social Security cost-of-living adjustment (COLA) will likely be coming your way in a few months. The latest projection estimates the 2027 COLA will come in around 3.8%, according to The Senior Citizens League (TSCL), well above the 2.8% benefit boost you saw this year.
But since the COLA is a percentage, it doesn’t affect all beneficiaries equally. Some seniors will receive larger dollar increases than others, and states with higher average incomes will also see their average benefits rise more significantly.
Will AI create the world’s first trillionaire? Our team just released a report on the one little-known company, called an “Indispensable Monopoly” providing the critical technology Nvidia and Intel both need. Continue »
Here’s a closer look at what the estimated 2027 Social Security COLA could do for the typical benefit in your state.
Image source: Getty Images.
Here’s how much the 2027 COLA could increase average benefits by state
Average Social Security benefits vary quite a bit by state. The table breaks down each state’s average Social Security benefit as of December 2024, its estimated average benefit for 2026 with this year’s 2.8% COLA factored in, and its estimated 2027 benefit, which assumes a 3.8% COLA.
|
State |
Average Benefit (December 2024) |
Estimated Average Benefit (2026) |
Estimated Average Benefit With 3.8% 2027 COLA |
|---|---|---|---|
|
Alabama |
$1,920.20 |
$1,973.97 |
$2,048.98 |
|
Alaska |
$1,906.99 |
$1,960.39 |
$2,034.88 |
|
Arizona |
$2,019.52 |
$2,076.07 |
$2,154.96 |
|
Arkansas |
$1,852.07 |
$1,903.93 |
$1,976.28 |
|
California |
$1,935.16 |
$1,989.34 |
$2,064.94 |
|
Colorado |
$2,036.79 |
$2,093.82 |
$2,173.39 |
|
Connecticut |
$2,196.15 |
$2,257.64 |
$2,343.43 |
|
Delaware |
$2,170.63 |
$2,231.41 |
$2,316.20 |
|
Florida |
$1,961.58 |
$2,016.50 |
$2,093.13 |
|
Georgia |
$1,924.43 |
$1,978.31 |
$2,053.49 |
|
Hawaii |
$1,980.89 |
$2,036.35 |
$2,113.74 |
|
Idaho |
$1,951.43 |
$2,006.07 |
$2,082.30 |
|
Illinois |
$2,004.98 |
$2,061.12 |
$2,139.44 |
|
Indiana |
$2,033.94 |
$2,090.89 |
$2,170.34 |
|
Iowa |
$1,992.07 |
$2,047.85 |
$2,125.67 |
|
Kansas |
$2,055.17 |
$2,112.71 |
$2,193.00 |
|
Kentucky |
$1,865.76 |
$1,918.00 |
$1,990.89 |
|
Louisiana |
$1,818.40 |
$1,869.32 |
$1,940.35 |
|
Maine |
$1,888.67 |
$1,941.55 |
$2,015.33 |
|
Maryland |
$2,139.54 |
$2,199.45 |
$2,283.03 |
|
Massachusetts |
$2,084.32 |
$2,142.68 |
$2,224.10 |
|
Michigan |
$2,066.03 |
$2,123.88 |
$2,204.59 |
|
Minnesota |
$2,095.13 |
$2,153.79 |
$2,235.64 |
|
Mississippi |
$1,814.24 |
$1,865.04 |
$1,935.91 |
|
Missouri |
$1,936.50 |
$1,990.72 |
$2,066.37 |
|
Montana |
$1,886.95 |
$1,939.78 |
$2,013.50 |
|
Nebraska |
$2,010.80 |
$2,067.10 |
$2,145.65 |
|
Nevada |
$1,906.36 |
$1,959.74 |
$2,034.21 |
|
New Hampshire |
$2,183.82 |
$2,244.97 |
$2,330.28 |
|
New Jersey |
$2,190.05 |
$2,251.37 |
$2,336.92 |
|
New Mexico |
$1,865.12 |
$1,917.34 |
$1,990.20 |
|
New York |
$2,018.22 |
$2,074.73 |
$2,153.57 |
|
North Carolina |
$1,980.01 |
$2,035.45 |
$2,112.80 |
|
North Dakota |
$1,928.53 |
$1,982.53 |
$2,057.86 |
|
Ohio |
$1,922.91 |
$1,976.75 |
$2,051.87 |
|
Oklahoma |
$1,921.69 |
$1,975.50 |
$2,050.57 |
|
Oregon |
$1,989.74 |
$2,045.45 |
$2,123.18 |
|
Pennsylvania |
$2,052.30 |
$2,109.76 |
$2,189.94 |
|
Rhode Island |
$2,049.82 |
$2,107.21 |
$2,187.29 |
|
South Carolina |
$1,996.30 |
$2,052.20 |
$2,130.18 |
|
South Dakota |
$1,919.29 |
$1,973.03 |
$2,048.01 |
|
Tennessee |
$1,958.01 |
$2,012.83 |
$2,089.32 |
|
Texas |
$1,932.02 |
$1,986.12 |
$2,061.59 |
|
Utah |
$2,065.18 |
$2,123.01 |
$2,203.68 |
|
Vermont |
$2,039.64 |
$2,096.75 |
$2,176.43 |
|
Virginia |
$2,063.95 |
$2,121.74 |
$2,202.37 |
|
Washington |
$2,099.38 |
$2,158.16 |
$2,240.17 |
|
West Virginia |
$1,898.05 |
$1,951.20 |
$2,025.34 |
|
Wisconsin |
$2,027.60 |
$2,084.37 |
$2,163.58 |
|
Wyoming |
$2,023.54 |
$2,080.20 |
$2,159.25 |
Data source: Social Security Administration and author’s personal calculations.
Many states will see their average checks cross the $2,000 mark for the first time, while some of the wealthier New England states will see their average benefits exceed $2,300. But it’s important to remember that these are only averages. There will still be a lot of variance among individuals within each state.
Once the Social Security Administration announces the official 2027 COLA in mid-October, you’ll be able to estimate what your checks will look like next year by adding the COLA percentage to your current benefit. Keep your eye out for a personalized COLA notice in December as well.
The $23,760 Social Security bonus most retirees completely overlook
If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known “Social Security secrets” could help ensure a boost in your retirement income.
One easy trick could pay you as much as $23,760 more… each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we’re all after. Join Stock Advisor to learn more about these strategies.
The Motley Fool has a disclosure policy.
