What It Costs Retirees To Rent in St. Petersburg and 5 Other Florida Cities

So many retirees flock to the sunny climate of Florida to live out their golden years that it’s become something of a cliché. For those who plan to live out their retirement in The Sunshine State, it would help to get a financial lay of the land — the rental rates for Florida’s various cities, the population, the number of those aged above 65 and more. GOBankingRates has compiled that information as a resource for those planning to migrate to Florida for retirement.

Additionally, beyond this information, Florida provides a number of resources and rental assistance programs for retirees who require financial safety nets in the rental process. Section 202 Supportive Housing assists those over the age of 62 with low incomes to find affordable housing.  There is also the Rental and Move-In Assistance Program (RMAP), which does exactly what its title implies, helping those who have stable incomes and no more than two months of past-due rent. 

Further, there is a helpline for seniors — 1-800-ELDER (1-800-963-5337) — that guides retirees to specific benefits programs that could help them.

Whether you are able to get any of this help or not, here is how much money you would need to have to rent in St. Petersburg and other Florida cities.

• Population: 259,343
• % of population 65+: 19.9%
• Average monthly rent: $1,444
• Average 1-bedroom rent: $1,241
• Average 2-bedroom rent: $1,563

• Population: 950,203
• % of population 65+: 14.4%
• Average monthly rent: $1,340
• Average 1-bedroom rent: $1,127
• Average 2-bedroom rent: $1,326

• Population: 443,665
• % of population 65+: 16.3%
• Average monthly rent: $1,885
• Average 1-bedroom rent: $1,575
• Average 2-bedroom rent: $2,086

• Population: 307,738
• % of population 65+: 10.8%
• Average monthly rent: $1,555
• Average 1-bedroom rent: $1,325
• Average 2-bedroom rent: $1,647

• Population: 388,768
• % of population 65+: 13.0%
• Average monthly rent: $1,584
• Average 1-bedroom rent: $1,341
• Average 2-bedroom rent: $1,674

• Population: 222,996
• % of population 65+: 20.1%
• Average monthly rent: $1,676
• Average 1-bedroom rent: $1,307
• Average 2-bedroom rent: $1,822

Methodology: For this study, GOBankingRates analyzed the average rental costs for major U.S. cities and the cost of living in those cities. GOBankingRates first sourced the 100 most populated cities from the U.S. Census American Community Survey. Additional information gathered for each city included total population, total households, population ages 65 and over, and household median income. Cost-of-living indexes were sourced from Sperling’s BestPlaces. The average overall rental cost, 1-bedroom rental cost, and 2-bedroom rental cost were sourced from ApartmentList. The average cost of a condo or co-op was sourced from the Zillow Home Value Index. The livability index was sourced from AreaVibes. GOBankingRates used the cost-of-living indexes and the national average expenditure costs for all residents, sourced from the Bureau of Labor Statistics Consumer Expenditure Survey. Using the average condo/co-op value, assuming a 10% down payment and using the national average 30-year fixed mortgage rate, the average mortgage was calculated. Using the overall rental cost and expenditure costs, the total cost of living for each city was calculated. All data was collected on and is up to date as of Sept. 13, 2024.