Retirees Rejoice: 6 Cost-Effective Florida Cities With Sun and Fun
Are you just about to retire, or have you done so recently? Congratulations! If you think there’s no better place to enjoy your golden years than in a state full of sun, sand, and fellow retirees, these are some of the top places to retire in Florida.
Over the Hill
The Motley Fool staff ran a study to determine the best places to retire in Florida. They considered the cost of living, housing, healthcare, and weather to determine which Floridian cities are the best for retirees on a budget.
The cities that made their list have a favorable mix of each category.
1: The Villages
As a city projected to have 223.2% population growth by 2060, it’s only fitting that The Villages tops this list for Florida retirement spots. Nestled between Ocala and Orlando, its 80,000+ residents enjoy over 56 golf courses, 100 recreation centers, arts venues, and over 2,700 social clubs. To top it all off, The Villages boasts a safe environment and plenty of fellow retirees to befriend.
2: Ocala
If you’re retiring on a tight budget, Ocala may be a solid option, as it’s one of the less expensive Florida cities. Ocala’s distance from the coastline in central Florida means you’ll dodge the hurricanes that threaten most of the state and save on home insurance costs. The icing on the cake? Ocala is home to beautiful horse farms and boasts a small-town feel for a laid-back retirement experience.
3: Lakeland
With affordable healthcare, housing, and grocery costs, Lakeland is another Florida city that’s kind to retirees’ wallets. Its name accurately describes what it’s known for, with several bodies of water to explore. Located roughly halfway between Tampa and Orlando, Lakeland is a popular transportation hub for major companies like FedEx and Amazon.
4: Orlando
You probably know Orlando for being home to Disney World, Universal Studios, and some of the most popular entertainment options in the country. As the fourth-biggest city in Florida, there’s plenty of space to spread out. Orlando has several retirement communities, and perhaps as a result, it has a robust healthcare industry presence.
5: Sarasota
More than 40% of Sarasota’s population is over 60, so it has no shortage of fellow retirees. The Gulf Coast city has many retirement communities, and according to The Motley Fool, it has the greatest number of theaters, gardens, senior centers, and gold options of any retirement spot in Florida. However, its location on the water makes for high home insurance rates.
6: Pensacola
Nestled at the Alabama border, Pensacola is home to white sand beaches and stunning state parks, perfect for kicking back in retirement. It also boasts a low living cost, attracting many older Americans looking to settle down. But there are some downsides to Pensacola retirement: sales tax is relatively high, and some seniors may have to travel out of the city for specialized healthcare.
Retirement Reputation
When Florida comes to mind, it’s hard not to consider its reputation as a popular retirement state. But rising housing and home insurance costs, devastating natural disasters, and other factors have sent some retirees to states like North Carolina, Michigan, and Arizona instead. Still, Florida remains the most moved-to state among retirees in the US.
Retirement Costs
If you’re looking to call Florida home in your retirement, there are a few things to keep in mind. One notable thing to consider is the cost of living. Despite tax benefits, including no state income tax, some Florida metros are as expensive as or costlier than other major cities in the US. That’s far from ideal for penny-pinching retirees.
Natural Disasters
Hurricanes are a genuine threat to the Florida coastline each season, so many Floridians pay high home insurance rates. While you can find affordable housing in certain parts of the state, you must consider insurance costs if you’re moving near the white sand beaches.
Health Is Wealth
As you age, health problems can pop up at any time. Luckily, many cities in Florida offer access to quality healthcare. However, some retirees with complex medical issues may need to outsource to find the right specialist.
Central Living
A general rule for Florida retirees on a budget is to move closer to the state’s center. Residents there enjoy a cheaper cost of living, and houses aren’t impacted by storm hazards like those on the coast. Orlando, Ocala, and Lakeland are some examples of inland Florida cities on this list.
Get Smart
Retirees seeking to enrich their education in their golden years will be happy to know that the U.S. News and World Report ranks Florida as the number one state in the country for higher education (it ranks #10 for Pre-K-12 education). Not only is Florida home to top-ranking schools, but according to personal finance site Kiplinger, all of Florida’s state universities waive tuition and fees for any resident older than 60 taking for-credit classes.
Tourist Boom
Depending on your energy levels, Florida’s rampant tourism could be a pro or a con on your retirement plan. According to Visit Florida, 2022 saw the highest visitation in state history, with approximately 137.6 million tourists stopping by. While this means ample entertainment, be prepared for high traffic and big crowds during the peak season.
12-Step Moving to Florida Checklist
Whether you’ve already closed on a home or are toying with moving to Florida, this checklist will help you get all of your ducks (ahem, pelicans) in a row.
12-Step Moving to Florida Checklist
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