Florida has long been a dream retirement destination as people look to spend their remaining years in the sunshine. However, the state has seen an increase in retirees leaving for greener pastures. We take a look at ten reasons why retirees are leaving Florida and ten places that are more desirable places to retire to instead.
10 Reasons Why Retirees Are Leaving Florida
Housing Costs
Florida’s housing market has soared, making it difficult for retirees on fixed incomes to afford their dream homes. In the first quarter of 2024, house prices were 3.4% higher than the previous year, and the upward trend is expected to continue, according to Norada Estate Investments. Rising property taxes and the subsequent costs to insure homes mean many retirees can no longer afford to live in Florida.
Crowded Coastlines
Florida’s initial appeal to retirees stemmed from its all-year-round sunshine and secluded beaches. But the Florida coastline is now teeming with tourists, and the lack of tranquility can be a turnoff for those seeking a peaceful retirement.
Strained Infrastructure
Florida’s rapid growth has strained infrastructure, with roads not being built to handle the influx of new residents. Traffic congestion is a major problem in many areas, leading to longer commute times and frustration for retirees looking to drive for a nice day out.
Climate Concerns
Along with soaring temperatures, hurricanes are becoming more frequent and intense. CBS News states that in 2024, the probability of a hurricane on the East Coast jumped from 215 to 34%. These climate change anxieties are prompting some retirees to seek more stable states.
Affordability
The overall cost of living in Florida is rising, with groceries, healthcare, and utilities becoming more expensive. According to Ramsey Solutions Real Estate, Florida has a 2% higher cost than the average in the U.S., with Miami’s cost an outrageous 20% higher than average.
High Taxes
A major advantage for retirees living in Florida is that there’s no fixed income tax, and sales tax is lower than in some states. However, property taxes can be high in certain areas, which is becoming an increasing burden for retirees.
Limited Culture
While Florida offers natural beauty and outdoor activities, it is lacking in cultural activities. There are museums and theaters, but there are fewer historical sites, and art facilities are not as abundant as they are in some states, such as New York.
Theme Park Tourism
Tourism is very high in Florida, but retirees are particularly concerned about the number of theme parks that attract millions of tourists from all over the world. In addition to destroying natural beauty, these theme parks can create noise pollution and traffic congestion.
Mosquitos
Florida’s humid climate breeds mosquitoes, which can be a nuisance. For retirees with health concerns, worrying about mosquito bites is a step too far, especially since repellents can be expensive.
Feeling Isolated
Florida has many retiree communities, but they can be insular, making it difficult to build friendships outside of living quarters. Some retirees may not take well to these communities and will look for areas where they can broaden their social circles.
10 States Where People Are Retiring Instead of Florida
North Carolina
North Carolina generally has a lower cost of living than Florida. This includes housing, groceries, utilities, and healthcare. This can be a significant advantage for retirees on fixed incomes. The state is just as beautiful as Florida, with beautiful beaches, mountains, and charming towns to keep retirees busy during their golden years.
South Carolina
House prices in South Carolina are typically lower than in Florida, giving retirees more bang for their buck. While South Carolina experiences hot and humid summers similar to Florida, its winters are generally milder, offering respite for retirees struggling with higher temperatures.
Georgia
Lower housing costs, stunning scenery in the Blue Ridge Mountains, a friendly atmosphere, and access to culture hubs in Atlanta make Georgia an attractive option for retirees. According to Investopedia, Georgia has the tenth-highest number of older people, meaning retirees will have plenty of company.
Tennessee
Tennessee enjoys natural beauty, including the Great Smoky Mountains National Park and plenty of hiking, fishing, and sports opportunities. The state also has a growing network of active adult communities and affordable living, making it a great retirement spot.
Washington
For those moving away from Florida’s intense heat, Washington enjoys a cooler climate and is home to stunning mountains and forests. The state’s strong focus on outdoor activities attracts retirees seeking an active lifestyle.
Arizona
Sun City and other retirement communities in Arizona offer dry heat and beautiful desert landscapes. People often comment on the strong sense of community, which is perfect for retirees who enjoy outdoor activities and want to connect to others more, which can be lacking in Florida.
Texas
Texas enjoys a diverse range of cultural experiences, with vibrant cities like Austin and San Antonio having a packed calendar of events. The cost of living is lower than in some neighboring states, which means there’s more money to spend on social activities.
Nevada
For retirees who want to do some part-time work to supplement their income, Nevada is a good choice for living out their retirement. Nevada has no state income tax, so withdrawals from their IRA aren’t taxed by the state, leaving more money to spend on retirement activities.
Colorado
Colorado’s Stunning Rocky Mountains, thriving arts scene, focus on healthy living and variety of outdoor activities make it ideal for active retirees who enjoy the beautiful scenery and cultural experiences.
Virginia