Best Florida Cities for Retirement Bliss

When it comes to retirement, Florida continues to be a top choice. WalletHub recently ranked four Florida cities—Miami, Orlando, Fort Lauderdale, and Tampa—among the nation’s best places to retire, thanks to low taxes and high-quality healthcare.

Why Florida Ranks So High for Retirees

Florida attracts everyone from celebrities to everyday retirees, who are drawn by its sunny climate, beautiful beaches, and favorable tax policies. WalletHub’s study compared over 180 U.S. cities using 45 key metrics, from cost of living to healthcare access and recreational opportunities.

Florida’s appeal is evident: Orlando claimed the top spot, with Miami, Tampa, and Fort Lauderdale close behind in the top five. St. Petersburg also made it into the top ten, coming in eighth. Here’s a closer look at what each of these cities has to offer:

Orlando: Trade Snow Shovels for Sunshine

Ranked as the best city to retire, Orlando is a haven for retirees looking for endless recreation. With world-renowned theme parks, vibrant arts and dining scenes, and a wealth of shopping options, Orlando is like a permanent vacation.

• Average Home Price: $385,207
• Cost of Living: 5% higher than the national average, but utility prices are 6% lower, and transportation costs are 4% lower.
• Healthcare Access: High ranking for gerontologists and home health care facilities per capita.
• Nearby Retirement Hub: The Villages, a popular 55-plus community, is less than an hour away, offering abundant amenities for retirees.

Miami: Sophisticated Sun and Surf

Miami ranks second on WalletHub’s list and is known for its cultural vibrancy and high-end lifestyle. While the average home price of $587,252 makes it pricier, the city offers ample activities that appeal to retirees.

• Volunteer and Leisure Opportunities: Ranks high in adult volunteer activities, art galleries, and fishing facilities.
• Walkability: Fifth most walkable city in the U.S., with easy access to public transportation.
• Beaches and Healthcare: Known for beautiful beaches and quality healthcare, Miami is a retiree’s paradise with plenty of outdoor and cultural activities.

Tampa: Smooth Sailing into Retirement

Tampa previously topped WalletHub’s list in 2023 and remains a popular choice, ranking fourth this year. With a moderate cost of living and rich recreational options, it’s a haven for retirees who enjoy a laid-back coastal lifestyle.

• Average Home Price: $385,903
• Healthcare Excellence: Home to Tampa General Hospital, ranked as one of Florida’s top hospitals.
• Nearby Communities: Just 30 minutes away, Sun City Center offers a 55-plus community where retirees can enjoy affordable housing and golf-cart access to amenities, shopping, and medical facilities.

Fort Lauderdale: Blending Luxury with Relaxation

Fort Lauderdale closes out the top five with its blend of luxury and ease. The city offers various housing options, from waterfront homes to high-rise condos, though it has a higher cost of living.

• Average Home Price: $529,481
• Healthcare and Recreation: Known for top-notch healthcare facilities like Holy Cross Health and a variety of marinas, golf courses, and fine dining options.
• Entertainment and Luxury: Enjoy horse racing at Gulfstream Park, or try your luck at the Seminole Hard Rock Hotel & Casino.

Why Florida is a Retiree Hot Spot

In addition to its 1,350 miles of coastline and 233 sunny days per year, Florida has no income, estate, or inheritance taxes, making it a financial haven for retirees. The Tax Foundation recently ranked Florida among the top five best states for tax climate, while states like California, New York, and New Jersey lagged behind.

For wealthy retirees, Florida’s tax laws offer significant savings on estate taxes, a factor that has attracted high-profile residents like Jeff Bezos, who recently purchased multiple properties in Miami’s prestigious Indian Creek Village.

According to WalletHub, while many Americans are concerned about affording retirement, choosing a city with affordable healthcare, recreational options, and opportunities for extra income can help ensure a comfortable and fulfilling retirement.

Final Thoughts

From low taxes to world-class amenities, Florida’s top cities offer retirees a welcoming, sun-soaked lifestyle with everything they need for a happy, healthy, and active retirement.

Source: WalletHub