6 Myths About Retiring in Florida
Written by
Josephine Nesbit
Edited by
Nicholas Morine
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Florida has always been a hot destination spot for retirees. There’s no shortage of gorgeous beaches, golf courses and sunny weather. The state also doesn’t tax income, which goes a long way when you’re living on a fixed income. But there are several myths about retiring in Florida that just won’t go away.
Dreaming of retirement in the Sunshine State? Here are common myths about retiring in Florida.
It’s Always Warm and Sunny
Florida is known as the Sunshine State for a reason, but it doesn’t mean it’s always warm and sunny. According to FinanceBuzz, you can expect to enjoy between 221 and 266 days of sunny or partly sunny weather, depending on where you live.
Florida is also one of America’s hottest and most humid states, but winters are much drier and colder than summer. Snow isn’t common, but FinanceBuzz noted that the state has experienced at least 13 below-freezing events over the past century.
It’s Cheaper To Live in Florida
Some people think they’ll be able to save when they move to Florida, but FinanceBuzz pointed out that the state’s cost of living is actually 2% higher than the national average.
Some retirees have been priced out of Florida thanks to a surge in housing demand. According to Zillow, the average Florida home value is $388,454 as of February 2024, and residents have also been dealing with rising property taxes, insurance premiums and health care costs, Moneywise reported.
Floridians pay some of the highest healthcare costs in the country, according to a study from the Commonwealth Fund. Also, Florida’s average home premium is $6,000, Mark Friedlander, spokesperson for the Insurance Information Institute, told WPLG Local 10 in June. This is nearly four times the U.S. average.
Florida Offers Great Healthcare Services
You’d think Florida would have great healthcare services to accommodate its aging population, but the state typically ranks in the middle or sometimes even lower compared to other states, Vision Retirement reported. Still, high-quality hospitals do exist in the state, and if you require long-term care, services in Florida are slightly less expensive than the national average.
It’s the Most Senior-Friendly State
Florida is known for its retirement communities and senior population, but the state isn’t the most retirement-friendly state, FinanceBuzz indicated. For example, Massachusetts has better healthcare compared to the rest of the country, and Minnesota has a lower cost of living and a longer life expectancy than Florida.
It’s the Best Golfing State
Florida has over 1,000 golf courses, according to FinanceBuzz, but the humidity and hurricanes can be a problem in the summer months. This is the biggest reason why Florida comes in fourth on Golfweek’s list of the best states for golfing.
There’s Plenty of Space
If you don’t plan to buy a retirement home in Florida, finding an open spot at one of the state’s many retirement communities could take a while. Most popular communities have long waiting lists — and not just in areas like Miami or Orlando, as previously reported by GOBankingRates.
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