This article takes a look at the 20 best small towns in Florida to retire. If you wish to skip our detailed analysis of retirement living in America’s Sunshine State, you may go to 5 Best Small Towns in Florida to Retire.
Navigating Post-Retirement Realities
While retirement may be the end of the road, it requires significant planning in the US. A recent report by the Milken Institute found that on average, Gen Z starts to save for retirement by the age of 19 - 16 years earlier than their baby boomer counterparts did. With Americans spending anywhere from three to four decades of their life planning for retirement, making this latter stage of living as comfortable as possible is the goal.
This goal, however, seems to be more out of reach than ever. The 2023 version of GFLEC (Global Financial Literacy Center at George Washington University) and TIAA’s (Teachers Insurance and Annuity Association of America) annual study found that 12% of Americans have stopped saving for retirement entirely. This is a direct response to America’s increasing inflationary pressures. And while retirement may start in the 60s, longer lifespans mean that it can often be boundless - according to the Organisation for Economic Cooperation and Development, people aged 65 will continue to live for almost another 20 years. The math is simple, the longer people will live, the more money they’ll need, and America’s changing financial landscape appears unaccommodating.
“All Americans need to prepare for the realities of our longer lifespans; as a society, we must provide opportunities and tools that enable everyone to maximize their health and wealth expectancies to match their life expectancies”
Peter W. Mullin, Founding Chairman, the M Center of Excellence
Despite inflation being higher than the long-term average of 3.28%, the Social Security Administration has painted a bleak picture for 2024. Social security benefits are expected to rise by only 3.2% - a significant slash from last year’s 8.7% increase. While the benefits are adjusted according to inflation, seniors aren't exactly facing an ease on their pockets. Therefore, it comes as no surprise that they often look for the cheapest places across America to retire. Or, they jump ship and prefer to retire outside the US.
Choosing America’s Sunshine State
For those who decide to stay within borders, moving states is a popular option. And Florida - with its small towns - is a popular choice. Known famously as America’s Sunshine State, Florida offers warm weather and plenty of sunshine, making it an ideal state for retirees who may struggle with harsh weather in their old age.
And on the financial side of things, Florida is one of the best states to retire for taxes and cost of living. Devoid of income tax, retirees can enjoy pension incomes, social security benefits, and 401(k) and IRA incomes without any tax cuts. Investment banking company JPMorgan Chase & Co. (NYSE:JPM) can help Florida retirees manage their money. Voted the best bank for seniors in 2024 by Money, JPMorgan Chase & Co. (NYSE:JPM) is operational across 175 locations in Florida with another 600 ATMs, making it easy to access for senior citizens. Among the many benefits it offers is the Chase Total Checking account which allows free checking, accommodates online check deposits via a user-friendly mobile app, and a $200 registration bonus for retirees who set up social security direct deposits. Moreover, by selecting JPMorgan Chase & Co. (NYSE:JPM) as their bank of choice, retirees can also pay their bills online, integrate Zelle with their account, and easily avoid the $12 monthly fee by ensuring a direct deposit of $500 or more each month.
Florida, however, can be a bit on the expensive side. With a Best Places quoted cost of living index of 103.1, the state carries a cost of living that is 3.1% higher than the national average. Nevertheless, retirees can combat this by retiring to small towns and cities where living expenses are compartitively cheaper. Moreover, they can also take advantage of senior-specific discounts available at a range of retailers across the state. This includes Kohl's Corporation (NYSE:KSS), PetSmart, and Michael’s, among others. By incorporating these discounts - such as Kohl's Corporation (NYSE:KSS)15% 60 and over discount every Wednesday - retirees can bring down their cost of living, helping them enjoy all the benefits of a Florida retirement without stressing over financial issues. And the best part is that Kohl's Corporation (NYSE:KSS) offers everything from beauty to apparel to home products, allowing customers to get a full shop! Another hack to navigating retirement in a state with a higher cost of living is to gravitate towards small towns as these make it possible to retire in Florida on $3000 a month or even less. To know more about the best small towns in Florida to retire, read below.
We then ranked these places on livability scores based on information from Area Vibes. Scores were also awarded for the cost of living, health (based on water and air indexes), and the cost of living index taken from Best Places. Each factor was awarded equal weight. The resulting list is presented in ascending order, ranging from the lowest to the highest scores. It is important to remember that personal preference plays a big part. The best course of action is to visit the town you plan to move to, converse with locals, take advice from a financial consultant, and only then make your final decision.
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Here are the 20 best small towns in Florida to retire:
20. Watersound
Insider Monkey Score: 30
Cost of Living Index: 114.1
Water & Air Index: 48
Livability Score: 69
One of the best places to retire in Florida on the water is Watersound, a quaint beach neighborhood that offers all a retiree needs to relax. Retirees can enjoy great food, shopping, and nature in abundance. Spend a day stocking up on essentials at Publix, indulging in decadent seafood at Ambrosia Prime Seafood & Steaks, or taking a dip in the blue sea. Perfect for some much-needed retirement rest.
19. Wimauma
Insider Monkey Score: 40
Cost of Living Index: 104.2
Water & Air Index: 49.5
Livability Score: 64
Located in Hillsborough County and popular for its big, open spaces, Wimauma is ideal for retirees looking to build their own house. Common attractions include the Berry Bay Farm, Little Manatee River State Park, and Elmira’s Wildlife Sanctuary, giving seniors plenty of nature to fill up on. But that doesn’t mean that all the amenities aren’t there - residents can also enjoy the shopping wonders of Walmart, Publix, Aldi, and more.
18. Palm Beach
Insider Monkey Score: 44
Cost of Living Index: 114.1
Water & Air Index: 55.5
Livability Score: 68
A stunning beach town, Palm Beach is one of the best retirement destinations in Florida near the beach. Visit art galleries, upscale boutiques, and the Henry Morrison Flagler Museum, and end your day at the Palm Beach Municipal Beach as you relax on its clear, sandy beaches. A bit on the upside when it comes to the cost of living, retirees can spend smartly to live comfortably.
17. St. Augustine
Insider Monkey Score: 48
Cost of Living Index: 106
Water & Air Index: 38.5
Livability Score: 85
Located on the Northeast Coast of Florida, St Augustine is famous for its mix of Atlantic Ocean beaches and dated Spanish architecture. Complete with a wildlife sanctuary, a dolphin and sea turtle observation tour, a haunted pub crawl, and a virtual shipwreck scavenger hunt, retirees can truly enjoy life away from the hustle and bustle of busy city life.
16. Fort Meade
Insider Monkey Score: 54
Cost of Living Index: 91.6
Water & Air Index: 52.5
Livability Score: 59
Located in Polk County and with a population of just over 5,000 residents, Fort Meade is a great choice for a retirement-time move. Enjoy a day at the Busch Gardens, plan a picnic at Patterson Park, or visit the Fort Meade Museum - all while enjoying affordable housing and tax-free income.
15. Quincy
Insider Monkey Score: 70
Cost of Living Index: 83.7
Water & Air Index: 59.5
Livability Score: 61
Located in the Tallahassee metropolitan area, Quincy boasts an Arts Center, the Florida Caverns State Park, The Quincy Music Theater, and the Tallahasee Automobile Museum - lots to keep a retiree busy. Paired with a sizeable retail center and good climate, Quincy should surely be considered by those looking to make a cross-state move for retirement.
14. Dunnellon
Insider Monkey Score: 72
Cost of Living Index: 87
Water & Air Index: 63.5
Livability Score: 61
Known as the Paddler’s Paradise, Dunnellon is a riverside town perfect for retirees wanting to spend their later years close to nature. Seniors can take in the peaceful Rainbow River, take a stroll in the Rainbow Springs State Park, grab a bite at Swampy’s Bar and Grill, or mingle with the rural communities that live nearby.
13. Frostproof
Insider Monkey Score: 74
Cost of Living Index: 91.6
Water & Air Index: 56.5
Livability Score: 67
Our second Polk County pick, Frostproof is a small yet entertaining town. The Historic Ramon Theater hosts murder mystery events and live music events, as well as plays, and the Care Center Thrift Store is perfect for some midday shopping. As for food, the most popular spot is Mister Chris’ Coffee Gallery.
12. Arcadia
Insider Monkey Score: 76
Cost of Living Index: 81.8
Water & Air Index: 50
Livability Score: 78
Arcadia is perfect for seniors looking for that hometown feeling as they move for retirement. A close-knit community, below-average cost of living, and nature finds such as trails and parks all make for a wonderful retirement experience.
11. Gulf Breeze
Insider Monkey Score: 78
Cost of Living Index: 99.8
Water & Air Index: 78
Livability Score: 73
Located near Pensacola, senior citizens who choose to retire in Gulf Breeze can enjoy the best of both worlds - small-town living with the latter and city life with the former. Visit the zoo, go to the library, or stroll along the beach boardwalk - and when you feel like it, visit Pensacola for a day trip.
10. Avon Park
Insider Monkey Score: 80
Cost of Living Index: 83
Water & Air Index: 53
Livability Score: 69
Number ten on our list of best small towns in Florida to retire is Avon Park located in Highlands County. A slightly larger town with a population of almost 10,000, Avon Park is still peaceful and affordable. Moreover, the cost of living here is 17% lower than the national average. This means that retirees who started saving for retirement a bit later can also afford to move here and spend their retirement surrounded by nature, community living, and recreational activities.
9. Sebring
Insider Monkey Score: 80
Cost of Living Index: 83
Water & Air Index: 54.5
Livability Score: 62
Affectionately nicknamed the ‘City on the Circle’ owing to its architectural layout, Sebring is one of the most affordable small towns on our list. Retirees can indulge in outdoor activities, visit one of Sebring’s museums, or spend a day at the theater as they enjoy life.
8. Palatka
Insider Monkey Score: 82
Cost of Living Index: 81.9
Water & Air Index: 55
Livability Score: 55
Hailing from Putnam County, Palatka boasts a cost of living that is almost 19% lower than the national average - making it one of the best places in Florida to retire on a budget. Residents enjoy a beautiful community that overlooks the St Johns River and offers many parks for recreation, including the Ravine Gardens State Park.
7. Babcock Ranch
Insider Monkey Score: 82
Cost of Living Index: 93.7
Water & Air Index: 79
Livability Score: 74
A planned community in Charlotte County, Babcock Ranch is America’s first solar-powered town. Retirees who choose to move here can enjoy the knowledge of leading a sustainable life better suited to helping the planet. They can also indulge in the town’s many nature-centered offerings, including the Octagon Wildlife Sanctuary.
6. Wauchula
Insider Monkey Score: 86
Cost of Living Index: 82.6
Water & Air Index: 43.5
Livability Score: 69
Number six on our list and boasting a cost of living that is 18% lower than the national average is Wauchula, located in Hardee County. With a population of just under 5,000 residents, retirees can take a break and enjoy the smaller things in life as they immerse in Wauchula’s agriculture-rich history.
