Individuals typically retire at the age of 65, when they finally decide to permanently leave the workforce. However, there are numerous factors to consider in selecting a retirement location, such as cost of living, taxes, and even healthcare. Fortunately, we’ve prepared a list of the best retirement cities in Florida.
In this blog post, we will look into the 10 Best Places to Live in Florida for Retirees that you or a loved one can move into if you ever wish to settle down in The Sunshine State!
Best Places to Live in Florida for Retirees
#10 St. Cloud
If you’re seeking the ideal retirement location, you should look for a city that retains a small-town charm. These areas provide their residents with an affordable cost of living, a lower crime rate, and fewer crowds. If that is exactly what you are looking for, St. Cloud is an excellent choice. Originally established as a retirement community for Civil War soldiers, this lovely city combines the best of old and new Florida living. Residents regard the region as pleasant and calm, which is a bonus for individuals seeking a more tranquil environment.
In terms of affordability, St. Cloud’s cost of living is 39% less than the national average. Additionally, Zillow reports that the city’s median home price is $321,296.
Let us jump into a city that has been consistently acknowledged as one of the best cities to retire in America. Two of the main reasons retirees choose this area are its low taxes and cost of living. Miami’s cost of living is considered to be one of the lowest in the U.S., particularly for seniors, due to the state’s cheaper healthcare, transportation, and tax rates compared to the majority of other states in the U.S. Furthermore, the price of purchasing a home here is quite close to St. Cloud, with a value of $365,900, according to the Homes website.
This city is also perfect for those who still enjoy a bit more recreational activities and events. Because of the pleasant climate in Miami, retirees can enjoy numerous gardens, parks, and lakes. The city also has some centers dedicated to seniors, like the Gesu Senior Citizen Center and the Homestead Senior Citizens Activities Center.
#8 Palm Beach
Like Miami, Palm Beach is also known for its pleasant weather all year round. Moreover, this city will not disappoint retirees because of money-saving benefits. Specifically, West Palm Beach’s downtown is one of the cheapest in the country. Here, the average home is worth $323,495, as per recent figures released by Zillow.
Furthermore, West Palm Beach is a beautiful spot to live if you enjoy being 10 minutes from the beach. Palm Beach also has a plethora of commercial and shopping establishments and adventure destinations such as the zoo, museum, and art galleries.
One of the best reasons retirees love Florida, in general, is because it is tax-friendly to them. This means that retirees retain a greater portion of their retirement income. Here, there are no estate or inheritance taxes, and property taxes are cheap. In Tampa, you get to reap these benefits plus the experience of living like you are on vacation all the time because of the laid-back beach lifestyle.
According to a U.S. News data analysis, Tampa Bay’s cost of living is slightly less than the national average. Specifically, it is around 9% lower, which encompasses everything from the local real estate market and residential utilities to transportation and healthcare. If you are considering purchasing real estate in Tampa, the Realtor website estimates that you will need approximately $350,000.
Another feature you need to look for in retirement cities is beautiful scenery. Naples is known for its clean beaches and breathtaking sunsets. Some places you can visit in this city include Naples Beach, Naples Pier, and Lowdermilk Park. Furthermore, you can always enjoy a cup of tea by the sunset or celebrate some festivals with delightful food trucks in the park. During times you just want to stroll around, residents and visitors are privileged to visit museums and lakes around the city.
Moving on to the cost of living in Naples, it is slightly higher than in the previous cities. According to Palm Paradise Real Estate, the cost of living in Naples is increasing, particularly for housing, food, and transportation. Additionally, Zillow estimates that the average property value in Naples is $444,584.
#5 Vero Beach
Are you looking for a city that offers peace and relaxation? If so, then you should highly consider Vero Beach. Vero Beach is a place where the majority of residents are described as personable and polite. Here, people can unwind and visit the beach, where they can participate in a variety of water-sports activities. Additionally, this area’s culture is very commendable since it boasts some of the state’s top theatres and museums. Most importantly, Vero renders 232 sunny days every year, ensuring that you can always enjoy the outdoors.
Furthermore, Vero has a cheaper cost of living than the national average, by 2%, according to Payscale. Additionally, this hidden gem of a city has a median property price of $293,846, says Zillow, which is cheaper than every other city on our list thus far.
#4 Port St. Lucie
The next city on our list has also consistently had a high rank in America’s best cities to retire. With a growing community, this city attracts a diverse population that includes retirees. Its stable economy is mainly driven by retail, tourism, real estate, and different services. Another notable perk of living here is the considerably low crime rate. In fact, the crime rate in this city is about half of the national average. All these factors, plus the overall friendly neighborhood, make Port St. Lucie one of the most ideal places for retirees and families.
To put the icing on the cake, affordability thrives when living in Port St. Lucie. When compared to other South Florida property markets, homes in this neighborhood are more affordable to buy or rent. Furthermore, the city has an average property value of $318,330, as reported by Zillow.
According to a ranking by U.S. News & World Report for 2020, Ocala is one of the finest areas in the United States to retire because of the affordability of housing and the high quality of healthcare. With a median home value of $202,718, according to Zillow, it’s a highly affordable city to live in when compared to other Florida cities. Besides the affordability, Ocala is also highly preferred due to its magnificent landscapes. Several world-class sites in this area include the Silvers Springs State Park, the Canyons Zip Line, and other adventure parks.
While Ocala is a great spot to retire, it’s also great for raising a family. Aside from the low cost of living, Marion County also has a lot to offer regarding weather, family-friendly activities, and other outdoor activities.
#2 Fort Myers
One of the most widely preferred cities in the Sunshine State, let us visit the captivating town of Fort Myers. Fort Myers has been named the top location to retire in the Sunshine State, placing first out of 125 other retirement communities. Here, the housing costs are 15% lower than the national average, and utility costs are 13% lower. According to Zillow, the typical home value of homes in Fort Myers is $296,624, and the city’s overall cost of living is 4% cheaper than the national average.
Additionally, citizens describe Fort Myers as one of the ideal destinations to reside, travel and relax. Overall, the community features a laid-back environment, a low cost of living, and a diversified population of college students, young parents, and retirees.
While Fort Myers has had a high rank for retirees, Sarasota is ranked the No. 1 Best Place to Retire in the United States for the second consecutive year. This ranking considers factors such as home affordability, happiness, desirability, retiree taxation, the labor market, and access to high-quality health care. Furthermore, this has become the ideal retirement city among many because it offers the perfect mix of white-sand beaches and clear water.
Compared to other large cities, Sarasota offers a lot at a reasonable price, including the average home value of $377,558, says Zillow. With all of these benefits, in addition to the state income tax exemption, there is no better place to call home.