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Can You Retire Cheap in the Florida Keys? (Helpful Tips and Insight)

Can You Retire Cheap in the Florida Keys?

The Florida Keys are a popular spot for retirees. The lower cost of living and the warm weather have been drawing people to this area for years. In fact, many people retire in the Keys with little money and live off their social security checks!

We are here to answer the question; Can You Retire Cheap in the Florida Keys? and show you how it is possible to achieve it.

What to consider in finding an affordable retirement community in Florida Keys

Preparation, Planning and Research

The best way to learn how much things cost is by asking people who have been living there a long time or even looking at websites that discuss costs of living in this area. You’ll find that you can live cheap in the Florida Keys if you are prepared to do so!

There are many ways to learn about and prepare for living cheaply. The first thing is research, which we described above. Another important factor is your mindset: be ready for a low-cost lifestyle and don’t let yourself get caught up with material possessions. You can find a lot of success living cheaply in the Florida Keys!

Look for a place with a low cost of living.

There are many places in the Florida Keys that offer cheap living. Some of these include:

  • Key West
  • Marathon
  • Big Pine Key and Long Point Key (in lower keys)

One thing to look out for is how much money you spend having fun! The weather and allure of a warm beach can make people want to spend money on activities and entertainment. This can really add up! If you are going to live cheap in the Florida Keys, be prepared for a low-cost lifestyle.

Choosing the right home

Depending on your needs, you can definitely find a great home in the Florida Keys for cheap! Smaller homes and apartments tend to have lower monthly costs than larger ones. If you are going to be living alone or with one other person, it might make sense to get a smaller place so that utilities don’t cost as much.

Another key factor when choosing a home is how much land you want to have. If you’re interested in gardening or keeping animals, it makes sense to go for more space and cheap living. You might want to consider a retirement community also! They often have lots of amenities and are in great locations, all for a low monthly cost.

Key West, Marathon and the Straits of Florida offer many options for retirees who want to live cheaply. Seek out low-cost housing and research what costs there are locally before moving to an area so that you can plan your finances accordingly. Doing this will help ensure success as a retiree in Florida.


Another important factor to cheap retirement is transportation. In many places, you can live cheaper if you don’t have a car – or even own your home! Car insurance and maintenance cost money, so it might make sense for some people to use public transport or other forms of getting around instead. Talk with local experts about the best options for you so that you can get around cheaply.

Check out public transit options in the area, along with carpooling or other ways of getting around without owning a car.

Lifestyle and utilities

As we mentioned, do some research on what costs there are in the Florida Keys. For example, if you want to keep your lifestyle low key, look for a cheap community that doesn’t have high monthly fees or other expenses. You can also live cheaply by finding public utilities rather than paying separately for internet and cable TV – just be sure to do your research!

If you are retired, it’s likely that you will want to continue meeting new people and making friends. There are lots of opportunities for socializing in the Florida Keys – just be sure that your costs don’t get out of hand! You can find cheap living if you keep things low-key or live cheaply by joining a retirement community with lots of amenities and low fees.


Another important factor to consider when living cheaply in the Florida Keys is health insurance. This can be a sizable monthly cost and you should investigate what your options are for Medicare, Medicaid or other ways of getting affordable healthcare.

Also keep in mind that there may be hidden costs associated with moving – not everything will happen at once! You might want to wait until you have settled in and know how much it will cost for things like utilities before committing to a certain home.

What are the pros and cons of living in the Florida Keys- and how much will it cost?


  • Warm weather
  • Beautiful beaches and waters 
  • Lots of entertainment options (especially during the winter months!)
  • Access to the Gulf Stream


  • Hurricanes and other storms can be an issue, especially in low-lying areas that are exposed. Be sure you understand what your risk of hurricanes is like when choosing where to live in Florida.
  • It’s an isolated community, so be prepared for high transportation fees if you don’t have a car – or even wish to own your home!
  • There are lots of great activities and entertainment available in the Florida Keys, but always remember that they do come at cost. Research how much things will cost before committing
  • Expensive housing costs (so it is important to keep life style low key in order to live cheaply)
  • Higher than average utility bills due to the humidity. Make sure you research what you will have to pay for in advance so that your monthly expenses are as low as possible.

Those are the pros and cons of living in the Florida Keys. It will help you plan a budget if you research the area’s costs beforehand.

Can You Retire Cheap in the Florida Keys?

Tips on how to live comfortably in Florida Keys

Here are some helpful tips on how to live comfortably:

Plan for a Retirement Budget

The Florida Keys are beautiful, but the costs of living there can be surprisingly high. A good way to plan is by starting with a retirement budget. How much do you want to spend on entertainment? On housing? What about utilities and healthcare – how will those factor in over time as your income goes up or down? The more accurate you can be about your expenses, the more time you will have to adjust.

Many retirement prospects underestimate the financial burden they will be faced with in their golden years. It is important to set aside a sufficient amount of money for old age, as this can make or break one’s quality of life during later stage lives where necessities like housing and food may not come cheap anymore even if you’re still working full time!

Save for an Emergency Fund

It’s important to have a place where you can store your emergency savings. This should be money that is set aside and only used in case of an actual emergency – such as job loss, medical expenses or something like having to fix the furnace right before winter hits!

A lot of retirees lose their life savings because they didn’t save enough for those unexpected expenses. One way to keep this from happening is by having an emergency fund that isn’t attached to the rest of your money and staying accessible for those dire situations!

Have a Retirement Saving

Many people will live their entire lives without ever really thinking about retirement savings. However, it’s important to put a certain amount away during one’s career and to always contribute more as their income goes up. This will help you feel confident about retirement once the time comes.

Plan and Check your Healthcare/ Health Insurance

Many retirees find that healthcare expenses skyrocket during old age, so it’s important to keep this in mind when saving for retirement. It may be a good idea if one can save enough money to pay for all the medical expenses that they may need to deal with. It’s never too early to start saving up.

When you retire early, the cost of health insurance can be prohibitive. However it is important not to wait until this becomes an issue and plan for retirement strategically instead.

Planning for retirement can be expensive because health insurance is so necessary in early years. The costs are even higher when one plans their exit strategy from the workforce, which makes strategic timing critical if you want to take advantage of great coverage at reasonable prices while still being able to work hard if needed.

Don’t take any risks when it comes to your future – make sure you are prepared by planning ahead and following these tips on how to live comfortably in the Florida Keys during retirement!

Can You Retire Cheap in the Florida Keys?

Final Thought

Can you retire cheap? The answer is yes, but it’s important to research what your monthly expenses will be and think ahead about how much things like housing and healthcare might cost before committing to a certain place. Make sure that your lifestyle choices aren’t going to put too big of a dent in your wallet.

And Yes! Florida Keys is a great place to retire and live the rest of your life. It’s beautiful, warm, and full of opportunity for those who are looking forward to retiring in their 60s or 70s. We hope you found this article helpful as you explore retirement options!

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