Why are retirees leaving Florida? (2023)

“It's not as reasonable living in Florida as it used to be,” he says. Some retirees are opting instead to relocate to places such as Alabama, Mississippi and the Gulf Coast of Texas, he adds, where “the cost of living is significantly less and you still have those nice warm climates, and you're near water.”

What are the 6 reasons not to move to Florida?

Top 10 Reasons You Shouldn't Move to Florida

What are the negatives of retiring in Florida?

List of the Cons of Retiring in Florida

Does it make sense to retire in Florida?

There is no state income tax in Florida and the state also does not tax retirement income or Social Security benefits. There are no estate or inheritance taxes, and property taxes are reasonable, making the state financially appealing to seniors looking to save their money in retirement.

Why do retirees move south?

The overall trend uncovered in the United Movers Study reveals that they are leaving big population centers for warmer climates, smaller cities and towns and a lower cost of living. For example, 77% of those nearing retirement age in New Jersey plan to move out of the state, a full 23% of them to the state of Florida.

Why Florida Is Losing Its Appeal As A Prime Retirement Destination

What is the #1 retirement state?

Florida tops standings

About 234,000 Americans retired to a different state in 2022, according to Hire A Helper, which reviewed data from the Census Bureau's Current Population Survey and its Annual Social and Economic Supplements for 2022.

What is the friendliest state for retirees?

1. Delaware Taxes. Congratulations, Delaware – you're the most tax-friendly state for retirees! With no sales tax, low property taxes, and no death taxes, it's easy to see why Delaware is a tax haven for retirees.

What is the number one place to retire in Florida?

1. Lakewood Ranch. Lakewood Ranch earns the top spot on our list for 2023. It has an in-demand central west coast location and proximity to popular cities like Sarasota and Bradenton, and offers a variety of 55+ and all-ages neighborhoods, making it suitable for a variety of retirement tastes.

What part of Florida is best for seniors?

10 Best Cities for Seniors in Florida

What is a good retirement income for Florida?

To retire comfortably in Florida starting today, you will need to save at least $175,000.
...
Solving For Fixed Income

Where is the cheapest place for retirees to live in Florida?

The 10 Most Affordable Places to Retire in Florida

Where can I retire on $3000 a month?

One of the biggest is where to live. GOBankingRates is here to help, giving you the best cities to retire on a monthly budget of $3,000 or less for a person 65 and older.
...

Why do old people want to move to Florida?

Florida is a popular retirement destination due to its lack of state income tax, warm temperatures, and relatively low housing costs.

What is the best town to move to in Florida?

Best Places to Live in Florida in 2022-2023

What is the nicest and safest place to live in Florida?

The safest place to live in Florida is Satellite Beach. You'll feel safe living in this quaint city on Florida's space coast, which is home to just over 11,000 people. In 2021, there were only six violent crimes in Satellite Beach, easily making it the safest place to live in Florida.

Where is the nicest but cheapest place to live in Florida?

Cape Coral

It's easily one of the most affordable places to live in Florida. It's also one of the safest cities in Florida, with one of the lowest crime rates in the state.

Where is the nicest cheapest place to live in Florida?

Most Affordable Places to Live in Florida

What is the most desirable city to live in Florida?

Best Places To Live In Florida In 2023

Where does everyone retire in Florida?

Gainesville is one of the best places in Florida for retirees. Home to the University of Florida, Gainesville is both a college town and a retirement community. There is a little something for everyone in Gainesville. It has a great local music scene, college sports and hosts a variety of annual cultural events.

What is the cheapest and safest city to live in Florida?

The cheapest city to live in florida, and safest, is Cape Coral. It has a low crime rate and a population of roughly 183,942. According to Neighborhood Scout, their crime rate is only 12 per 1,000 residents.

What are the 3 states that don't tax retirement income?

Eight states have no income tax whatsoever, which means that retirement benefits — including Social Security retirement benefits — remain untouched by the state taxman. Let's start with the eight states that have no income tax whatsoever: Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming.

What are the top 5 Retired states?

The best states to retire in 2022. According to Bankrate's study, Florida is the best state for retirement in 2022, followed by Georgia, Michigan, Ohio and Missouri. Alaska, on the other hand, held last place in our ranking.

At what age is Social Security no longer taxed?

However once you are at full retirement age, which is between 65 and 67 years old depending on your year of birth, your Social Security payments can no longer be withheld if, when combined with your other forms of income, they exceed the maximum threshold.