SSI Income and Resource Limits, Explained

What is SSI?

SSI is a federal program run by the Social Security Administration that provides cash assistance to people who are 65 or older, blind, or disabled and have low income and limited resources.

Income Limits

SSI has a strict income limit. If your monthly income is above the limit, you may not qualify for SSI benefits.

What counts as income:

• Wages from work
• Self-employment income
• Social Security benefits
• Pensions and retirement income
• Unemployment benefits
• Child support or alimony
• Gifts and loans (in some cases)
• Income from rental properties

What doesn't count:

The first $65 of monthly earned income doesn't count, plus half of what you earn above that. This is called the "earned income exclusion." You also get a $20 monthly general exclusion on unearned income.

• Food stamps (SNAP)
• Housing assistance
• Food and shelter you receive from nonprofits

State variations: Some states have "SSI supplement" programs that raise the income limits above the federal level. Check with your state to see if you live in a state with a higher limit.

Resource Limits

SSI also limits how many assets or "resources" you can own. Resources are things of value that you own, like cash, bank accounts, and property.

General resource limit: The federal limit is [VERIFY: federal SSI resource limit for 2024]. If you have a spouse who also receives SSI, the limit is [VERIFY: federal SSI resource limit for couples receiving SSI for 2024].

What counts as resources:

• Cash and money in bank accounts
• Stocks and bonds
• Real estate (other than your home)
• Vehicles (beyond one)
• Valuable items you own

What doesn't count:

• Your primary home (the house you live in)
• One vehicle
• Household goods and personal items
• Life insurance (with a face value of $1,500 or less)
• Burial funds (up to $1,500 per person)
• Certain education savings accounts

State variations: Like income limits, some states have higher resource limits. Check your state's rules.

How Income and Resources Affect Your Benefit

Even if your income or resources are close to the limit, you may still qualify for some SSI benefit. The Social Security Administration calculates your benefit amount by subtracting your income from the maximum benefit amount.

If your resources are above the limit, you are usually not eligible for SSI until your resources drop below the limit.

What Happens If You Work?

SSI has special rules to encourage work. The earned income exclusion mentioned above means your first $65 of monthly earned income doesn't count toward the income limit. Additionally, you can exclude one-half of your remaining earned income.

There are also work incentive programs that may let you earn more while keeping your SSI benefits. These are complex, so talk to SSA directly about your specific situation.

How to Apply

You can apply for SSI online through the Social Security Administration's website, in person at your local Social Security office, or by calling Social Security. Applying is free, and only the Social Security Administration decides whether you qualify.

Learn more about SSI eligibility and how to apply.