Florida is known throughout the world as the retiree capital thanks to its perfect weather, gorgeous views, and accessibility to the outdoors for seniors.
But the Sunshine State is being abandoned by America’s senior citizens as older folks are finding new horizons to spend their twilight years.
Changes in Florida Make It Less Desirable For Retirees
In recent years a number of changes have occurred in the state of Florida and now retirees are waving goodbye to the state.
Take a look at why retirees are leaving, and more importantly, where they are going.
Why Are Retirees Leaving Florida?
The two major causes of the Sunshine State exodus: changing weather and the cost of living crisis.
Experts agree that climate change is altering the weather patterns in Florida, pair this with a global economic crisis, and Florida is becoming too expensive for retirees.
Weather Patterns Are Becoming Less Reliable
The weather in Florida has typically made reliable warmth and sunny blue skies.
But the Sunshine State is becoming less and less sunny every year.
Extreme weather including hurricanes, storms and flooding is becoming an ever increasing threat.
In 2023 the Atlantic Hurricane Season saw 21 storms and 7 hurricanes, three of which became major hurricanes. A major hurricane which struck Florida was Hurricane Idalia. 2023 was the fourth most-active season since 1950.
The Cost of Living Is Too High A Price
Extreme weather is not just dangerous for residents but it is also expensive.
New Home Owner Association fees, higher homeowner insurance costs and steady increases in the price of houses all mean Florida is much less affordable than it once was.
Whilst low crime, great weather and accessibility are important, in today’s economic landscape price is the number one driving factor for retirees.
So, what states could soon be welcoming America’s pensioners?
New Hampshire
One of the nation’s northernmost and smallest states, and known as the Granite State, has a lot to offer retirees.
New Hampshire boasts incredibly low taxes, in fact the state doesn’t tax Social Security benefits or retirement income of any kind.
The state is small and quaint, and while the winter might be cold, residents can enjoy the beauty and splendor of four distinct seasons.
Texas
Locals like to brag “everything is bigger in Texas,” and that includes the benefits.
The Lone Star State has no Social Security or individual income tax, but it does have stunning cities and sprawling countryside across its 268,820 square mile footprint.
The weather is warm all year round and has some of the lowest crime rates in the U.S.
Arkansas
Arkansas – The Natural State – already sounds delightful.
According to one report, Arkansas is the second lowest cost of living state in the U.S. The median price of a home in Arkansas is almost half of the country’s overall median cost.
Retirees can live comfortably, both financially and in nature.
North Carolina
North Carolina, the Tar Heel State, has low property taxes and reasonably priced homeowners insurance when compared to Florida.
The state also boasts several beautiful cities as well as a coast onto the Atlantic. Who wouldn’t want to retire by a coastal sunset?
Iowa
This year, life insurance agency Choice Mutual awarded Iowa the title of best state for retirement for 2024.
Retirees coming to Iowa can enjoy a fantastic healthcare system, low crime rates, affordability, and being less populated than other states, a lot of countryside to explore.
Tennessee Lures Retirees with Tax Benefits
Tennessee’s lack of state income tax entices Florida retirees. The state boasts a lower overall cost of living.
Cities like Nashville offer urban amenities with a small-town feel. Tennessee’s 65+ population grew by 3.5% from 2020 to 2022.
Arizona’s Desert Climate Attracts Sun-Seekers
Arizona provides a dry heat alternative to Florida’s humidity. The state offers numerous active adult communities.
Lower property taxes appeal to many retirees. Arizona’s 65+ population increased by 3.8% between 2020 and 2022.
South Carolina Combines Coast and Culture
South Carolina offers a familiar coastal lifestyle for ex-Floridians. The state provides a rich history and cultural scene.
Lower housing costs attract budget-conscious retirees. South Carolina saw a 3.2% growth in 65+ residents from 2020 to 2022.
Georgia’s Diverse Landscape Draws Florida Transplants
Georgia offers mountains, coast, and urban centers. The state provides a lower cost of living than Florida.
Atlanta’s amenities appeal to active retirees. Georgia’s 65+ population grew by 3% between 2020 and 2022.
Healthcare Considerations Drive Relocation Decisions
Access to quality healthcare influences retiree moves. Some states offer better healthcare infrastructure than Florida.
Lower healthcare costs attract budget-conscious seniors. This factor plays a crucial role in relocation decisions.
