Yet again, Florida tops the nation’s annual rankings for the best place to retire in the US. In the RetirementLiving report for 2022, the Sunshine State beats the other 49 in terms of quality of life and affordability. In addition, Florida ranked as the top retirement destination in the US in 2020 and 2021.
Retirement affordability in Florida
When choosing a retirement destination, affordability counts as one of the primary considerations. Florida stands out in this category mainly because of the lack of state income tax. As a result, the Sunshine State was the 8th most affordable for retirement.
In terms of property, Florida ranks in the middle of the price index for the best places to retire in the US in 2022. RetirementLiving points out that the rise in real estate in Florida reflects a general national trend over the last year.
Quality of life for retirees in Florida
The report revealed that 21% of the Florida population is over 65. The figure is ahead of the national average and more than Florida’s nearest competitors in the rankings. For example, in New Hampshire, the over 65s make up less than 20% of the population.
According to the report, state parkland is “abundant” in Florida and this translates to excellent opportunities for retirees. RetirementLiving emphasises that senior communities and activities are “plentiful in Florida”. In addition, one of the survey respondents highlighted that in the Sunshine State, you are “able to play golf 365 days a year”.
Because of its high proportion of senior residents and wide variety of things to do, Florida sits at the top of the table for quality of life. Consequently, it’s the best place to retire in the US this year.
Healthcare availability
Healthcare and medical facilities are fundamental in a retirement destination choice. On this count, Florida notches up an average score, taking the 39th spot in the table.
Best places to retire in Florida
The Sunshine State offers a range of popular retirement destinations, although the report recommends avoiding the busiest parts of the state. They include Broward, Orange and Seminole counties.
A report at the end of 2021 highlighted Southwest Florida as the best place to retire in the country. Specifically, Sarasota took the top position with the highest ranking in the country because of its diversity and “seemingly endless supply of sunshine”.
Tampa Bay also ranked high in the table and took sixth position. This area appeals to an older demographic because of its arts scene, beaches and affordability. Both these Florida locations have a shortage of available property, opening up opportunities for buy-to-let and build-to-rent investment.
Criteria for best place to retire in the US
RetirementLiving looks at several factors, including the quality of life, cost of property, state taxes and availability of healthcare. It also considers the percentage of the population over 65 and the amount of parkland in each state. This factor indicates the opportunities for activities.
Florida’s nearest competitors for best places to retire were New Hampshire, Arizona, North Carolina and Alaska. At the other end of the scale, Illinois ranked as the worst place to retire in the US.
(Source: RetirementLiving)
