Close Menu
  • Entertainment
  • Lifestyle
  • Relationships
  • Tips & Tricks
  • Celebrity Kids
Facebook X (Twitter) Instagram
  • Disclaimer
  • About us
  • Privacy Policy
  • Contribute & Advertise with Us
Facebook X (Twitter) Instagram Pinterest Vimeo
GistFestGistFest
  • Entertainment

    Heidi Montag’s Wig at AMAs 2025 Sparks Online Criticism: Called ‘World’s Worst’ by Fans

    May 30, 2025

    JoJo Siwa, Chris Hughes Romance Gossip Debunked with Single-Word Comment

    May 29, 2025

    All You Need To Know About Jeff Bezos and Lauren Sánchez’s Mega Summer Wedding

    May 28, 2025

    T.J. Holmes Sparks Marriage Rumors with Revealing Remark About Amy Robach

    May 27, 2025

    Justin Bieber Tweaks Instagram Post After Revealing Argument Amid Hailey’s Vogue Moment

    May 26, 2025
  • Lifestyle

    Heidi Montag’s Wig at AMAs 2025 Sparks Online Criticism: Called ‘World’s Worst’ by Fans

    May 30, 2025

    JoJo Siwa, Chris Hughes Romance Gossip Debunked with Single-Word Comment

    May 29, 2025

    All You Need To Know About Jeff Bezos and Lauren Sánchez’s Mega Summer Wedding

    May 28, 2025

    T.J. Holmes Sparks Marriage Rumors with Revealing Remark About Amy Robach

    May 27, 2025

    Justin Bieber Tweaks Instagram Post After Revealing Argument Amid Hailey’s Vogue Moment

    May 26, 2025
  • Relationships

    Heidi Montag’s Wig at AMAs 2025 Sparks Online Criticism: Called ‘World’s Worst’ by Fans

    May 30, 2025

    JoJo Siwa, Chris Hughes Romance Gossip Debunked with Single-Word Comment

    May 29, 2025

    All You Need To Know About Jeff Bezos and Lauren Sánchez’s Mega Summer Wedding

    May 28, 2025

    T.J. Holmes Sparks Marriage Rumors with Revealing Remark About Amy Robach

    May 27, 2025

    Justin Bieber Tweaks Instagram Post After Revealing Argument Amid Hailey’s Vogue Moment

    May 26, 2025
  • Tips & Tricks

    Heidi Montag’s Wig at AMAs 2025 Sparks Online Criticism: Called ‘World’s Worst’ by Fans

    May 30, 2025

    JoJo Siwa, Chris Hughes Romance Gossip Debunked with Single-Word Comment

    May 29, 2025

    All You Need To Know About Jeff Bezos and Lauren Sánchez’s Mega Summer Wedding

    May 28, 2025

    T.J. Holmes Sparks Marriage Rumors with Revealing Remark About Amy Robach

    May 27, 2025

    Justin Bieber Tweaks Instagram Post After Revealing Argument Amid Hailey’s Vogue Moment

    May 26, 2025
  • Celebrity Kids

    Meryl Streep’s Daughter Louisa Jacobson Shares Her and Partner, Anna Blundell’s Plans for Valentine’s Day

    February 14, 2025

    Brenda Song and Macaulay Culkin’s Son’s Name Revealed

    January 12, 2025

    Travis Barker Daughter, Alabama Barker Hospitalized for Nicotine Withdrawal After Quitting Vaping

    January 2, 2025

    Who Are Madonna’s Children? Everything You Need To Know About Them

    December 10, 2024

    Wynonna Judd’s Daughter Back in Jail After Allegedly Stealing Church Van

    December 4, 2024
Subscribe
GistFestGistFest
Home » Why are Florida Retirees Fleeing the State?
News

Why are Florida Retirees Fleeing the State?

OlamideBy OlamideNovember 27, 20233 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
A picture of senior citizens at the beach
Source: Pinterest
Share
Facebook Twitter LinkedIn Pinterest Email

Florida’s warm weather, beautiful beaches, and low taxes have made it a dream destination for many Americans to retire.

A picture of senior citizens at the beach
Source: Pinterest

The state was once the ideal place to live out one’s golden years. However, that thought is now becoming out of reach for retirees.

Since remote workers and the wealthy started flocking to the state, they drove up home prices. Consequently, those on a fixed income are left to feel the pinch.

A recent analysis from retirement experts found some people are rethinking the Sunshine State as the go-to retirement destination. According to reports, the cost of housing in Florida has skyrocketed, with a median home value of nearly $393,000.

ALSO READ: Here are the 12 Easiest Countries To Move To As an American

In just half a decade, the median price of a single-family house in Florida rose $150,000, or 60%. According to Redfin, the average cost of a home in March 2018 was approximately $250,000. In March 2023, it was roughly $400,000.

“It used to be that people could retire in Florida and get a beautiful home for a fairly inexpensive price compared to other states. Now it’s not as competitive as it used to be, so that makes it more difficult to retire to the home that they want to be in,” said Dave Duquette, president of Impact Wealth Advisors.

Aside from the skyrocketing costs of houses, retirement experts say the state’s ongoing insurance crisis is also driving retirees out. Hence, they’re finding more affordable places to call home. However, no matter where you live, one of the mistakes people make is their savings percentage for retirement.

POLL – Is Artificial Intelligence a Net Positive or Negative for Mankind?

“We teach them how to save more than 5%. We want to focus on trying to save at least 20% of gross income and helping them diversify where that’s going. Not all into a vehicle like a traditional 401K,” Duquette said.

However, contrary to public opinion, expensive housing isn’t the only thing repelling retirees from the state. Inflation and stock market dips have also negatively impacted their financial situation.

Consequently, seniors are seeking more affordable places to call home. For example, many are moving to Limestone County, Alabama, the fastest-growing county in the state. The area boasts lakefront property, warm weather, and low property taxes. Hence, it only makes sense that they consider it a substitute for The Sunshine State.

In addition, retirement experts suggest that people nearing retirement should choose a less traditional region to reside in post-work. States like Alabama, Wyoming, and South Carolina are becoming more attractive retirement destinations.

ALSO READ: Federal Court Indicts Homesellers, Realtors, and NAR for Inflating Home Sales Commission 

However, at the top of the list are towns like Sequim, Washington; Linden, Michigan; and Thermopolis, Wyoming. These towns offer perks like more affordable housing, favorable tax treatment, and proximity to major metros.

However, experts advise that no matter where seniors live, there are certain things they should do with their money—for example, setting money aside to invest. They also advise seniors to set aside money for emergencies, maintain an up-to-date estate plan, and stay (or become) debt-free. That way, their cash stretches further, and they feel more secure.

Recently, Florida made WalletHub’s top 10 cheapest states to retire in. However, it did so by the skin of its teeth, ranking ninth out of 10. Alabama reigned supreme in price but lagged regarding quality of life and health care.

Hence, Florida remains a hot destination for retirees who may prioritize such factors over affordability.

You Might Also Like:

  • Heidi Montag’s Wig at AMAs 2025 Sparks Online Criticism: Called ‘World’s Worst’ by Fans
  • JoJo Siwa, Chris Hughes Romance Gossip Debunked with Single-Word Comment
  • All You Need To Know About Jeff Bezos and Lauren Sánchez’s Mega Summer Wedding
  • T.J. Holmes Sparks Marriage Rumors with Revealing Remark About Amy Robach
  • Justin Bieber Tweaks Instagram Post After Revealing Argument Amid Hailey’s Vogue Moment

Florida Inflation Retiree
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleAnother State Has Voted in Favor of Right-to-Repair
Next Article Republicans Achieve Landslide Victory in Louisiana General Elections

Related Posts

Entertainment

Heidi Montag’s Wig at AMAs 2025 Sparks Online Criticism: Called ‘World’s Worst’ by Fans

May 30, 2025
Entertainment

Cassie Ventura’s Mom Reportedly Paid Diddy $20K After Threats to Release Private Footage

May 23, 2025
News

Mariska Hargitay Uncovers Shocking Family Secret After 30 Years

May 21, 2025
Latest Posts

Heidi Montag’s Wig at AMAs 2025 Sparks Online Criticism: Called ‘World’s Worst’ by Fans

May 30, 2025

JoJo Siwa, Chris Hughes Romance Gossip Debunked with Single-Word Comment

May 29, 2025

All You Need To Know About Jeff Bezos and Lauren Sánchez’s Mega Summer Wedding

May 28, 2025

T.J. Holmes Sparks Marriage Rumors with Revealing Remark About Amy Robach

May 27, 2025

Justin Bieber Tweaks Instagram Post After Revealing Argument Amid Hailey’s Vogue Moment

May 26, 2025

Cassie Ventura’s Mom Reportedly Paid Diddy $20K After Threats to Release Private Footage

May 23, 2025

Surprise Reunion! Kyle Richards Ends Feuds With Lisa Rinna and Dorit Kemsley

May 22, 2025

Mariska Hargitay Uncovers Shocking Family Secret After 30 Years

May 21, 2025
About
About

We’re a news, entertainment and lifestyle hub that is dedicated to giving you quality insight on the latest lifestyle news, movie and TV news, celebrity news and lots more.

Contact us: [email protected]

MOST POPULAR

Jennifer Rauchet: Inside the Life of Pete Hegseth’s Wife

August 30, 2023

Alina Nikitina: Everything We Know About the Russian Model

October 4, 2023

Amanda Kate Lambert: Meet Nancy Sinatra’s Daughter

August 30, 2023

Subscribe to Updates

Get the latest news delivered straight to your inbox!

Facebook X (Twitter) Instagram
  • Disclaimer
  • About us
  • Privacy Policy
  • Contribute & Advertise with Us
© 2025 GistFest. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.