This article takes a look at the 25 safest and cheapest cities to retire in Florida. If you wish to skip our detailed analysis on navigating retirement living in the US, you may go to 5 Safest and Cheapest Cities To Retire in Florida.
Does the Sunshine State Still Hold Retirement Charm?
Moving for retirement is nothing new in America’s retirement landscape. Senior citizens have been doing it for years, and in fact, the trend has been on the rise. Hire A Helper’s latest migration trends report revealed that in excess of 338,000 American retirees shifted for retirement in 2023, with the number being a 44% rise from the previous year.
It’s not difficult to deduce the motivation behind this trend. After all, most retirees are not financially wealthy, and moving to a place with a lower cost of living makes sense in the larger retirement plan. While why retirees are moving is obvious enough, where they are moving is a whole other chapter. America’s Sunshine State has long since been a retirement favorite. Subtropical climate, beaches, The Walt Disney Company (NYSE:DIS), and sprawling golf courses are just some of what attract thousands of retirees from across the country - but is the charm still there?
For one, Florida is getting more expensive. Redfin Corporation (NASDAQ:RDFN) reports a 3.9% price increase in the Florida housing market since last year, with the median house now priced at $400,000. Florida’s rental market is also unfavorable for retirees with the average Florida rent sitting at a sizeable $2,500 a month - 22% higher than the national median, reports Zillow Group, Inc. (NASDAQ:Z). Looking at these figures, some experts have predicted a move away from the Sunshine State.
“My guess is it’s probably due to cost. More folks are looking for someplace that’s also warm but maybe isn’t as expensive.” -Miranda Marquit, Consumer Advocate and Spokesperson, Hire A Helper.
However, migration trends report differently. Hire A Helper’s 2023 Migration Trends report pits Florida as the top state for incoming retirees with the state accounting for over 11% of all retirement moves. In fact, Florida hosts one of the largest retirement populations in the country with 21.6% of all Florida residents belonging to the 65 and above age group - as per the United States Census Bureau’s population numbers.
It’s safe to say that retirement - and catering to the hoards of incoming retirees - is ingrained in the Florida DNA. While some may look at the state’s apparent rising cost and take a step backward, considering there are many cities that are getting too expensive for retirees, an affordable retirement is possible in the state - all you need to do is to know where to look. Florida is also among the states that won’t tax Social Security income in 2024, earning it a ‘very tax-friendly’ ranking. Similarly, the state also carries many cities that have a lower cost of living with several rentals on Zillow Group, Inc. (NASDAQ:Z) below the $1,000 mark.
So, whether you’re moving for the weather, for The Walt Disney Company (NYSE:DIS), or the beaches, Florida can still provide a fulfilling retirement - just put in your work and do your research beforehand.
To facilitate present and future retirees contemplating a retirement move to the Sunshine State, we have compiled the following list of the safest and cheapest cities to retire in Florida.
25 Safest and Cheapest Cities To Retire in Florida
For our Insider Monkey cost of living index, a score of 100 represents the national US average for cost of living, therefore, a score of 98 would indicate a cost of living that is 2% below the US average. As for our Insider Monkey safety score, the scores above 60 represent an above average safety score. A cumulative score was then assigned to each city, with the 25 highest-scoring cities making our list of the 25 safest and cheapest cities to retire in Florida. For cities that gained an equal score, their cost of living indexes were used as a tie-breaker. The resulting list is presented in ascending order, with the highest-ranked place being presented last. It is important to remember that personal preference plays a big part. The best course of action is to visit the place you plan to move to, converse with locals, take advice from a financial consultant, and only then make your final decision.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
Here are the 25 safest and cheapest cities to retire in Florida:
25. Clermont
Insider Monkey Score: 64
Insider Monkey Cost of Living Index: 98.6
Insider Monkey Safety Score: 72
The first spot on our list goes to none other than Clermont in Florida’s Lake County. The city offers the best of both - an affordable lifestyle with a cost of living that is below the national average and a high safety score of 72, giving senior citizens peace of mind as they enjoy their Golden Years. The city offers residents a suburban feel and a range of outdoor and indoor activities.
24. South Daytona
Insider Monkey Score: 73
Insider Monkey Cost of Living Index: 97
Insider Monkey Safety Score: 75
Set alongside the Halifax River, South Daytona is a residential city that is situated in Volusia County. A small place, South Daytona residents can partake in a range of indoor and outdoor activities. The city boasts the Riverfront Veterans Memorial Park and the Blaine O'Neal Park. As for indoor activities, retirees can visit the NBalance Holistic Wellness Day Spa, Back Alley Lanes VR-Cade bowling alley, and the Marks Sports Pub.
23. Gainesville
Insider Monkey Score: 76
Insider Monkey Cost of Living Index: 95.4
Insider Monkey Safety Score: 67
Part of Northern Florida, Gainesville is a college town as a result of being the host of the University of Florida. One of the city’s most prominent attractions is the Florida Museum of Natural History. The museum houses the Butterfly Rainforest which encapsulates hundreds of open birds and butterflies. Of course, Gainesville enjoys all the benefits of being a college town - including a low cost of living.
22. Ormond Beach
Insider Monkey Score: 77
Insider Monkey Cost of Living Index: 97.3
Insider Monkey Safety Score: 81
Known as the ‘Birthplace of Speed’, Ormond Beach is famous for attracting racers who soared the city’s sandy beach at record speed. A coastal city, Ormond Beach is the perfect place for retirees who are looking to escape harsh winters. Residents can easily busy themselves in the city with its many offerings, including visiting the Ormond Memorial Art Museum & Gardens and the Bulow Creek State Park.
21. Sebastian
Insider Monkey Score: 80
Insider Monkey Cost of Living Index: 97.6
Insider Monkey Safety Score: 85
Our next pick is the Indian River County city of Sebastian. Set at the place where the Indian and Sebastian Rivers merge, the city enjoys majestic water views. A popular tourist spot, residents can join in and explore the city’s many leisure outlets. Some of the most famous include Riverview Park, the Mel Fisher’s Treasures Museum, and the Mash Monkeys Brewing Company.
20. St. Cloud
Insider Monkey Score: 80
Insider Monkey Cost of Living Index: 96.7
Insider Monkey Safety Score: 79
Next up on our list is the Central Florida city of St. Cloud. Home to the Royal St. Cloud Golf Links golf course, St. Cloud is the perfect retirement spot for senior citizens looking to spend their Golden Years relaxing and playing a round of golf. Residents can also visit the Chris Lyle Aquatic Center and the Reptile World Serpentarium.
19. Port St. Lucie
Insider Monkey Score: 81
Insider Monkey Cost of Living Index: 97.8
Insider Monkey Safety Score: 87
Set on Southern Florida’s Atlantic Coast, Port St. Lucie is a beautiful place to retire to. The city boasts a range of nature offerings, including the Port St. Lucie Botanical Gardens, the Riverwalk Boardwalk, and the North Fork St. Lucie Aquatic Preserve. Here, residents can truly immerse in nature as they view bamboo, manatees, egrets, river otters, orchids, alligators, hummingbirds, and butterflies.
18. Indian Harbour Beach
Insider Monkey Score: 84
Insider Monkey Cost of Living Index: 98.8
Insider Monkey Safety Score: 93
Located in Brevard County, Indian Harbour Beach is a small coastal city that boasts an abundance of nature. Gleason Park and Oars & Paddles Park offer residents sprawling greens to relax and picnic on, while the city also holds a variety of indoor activities. For a quick bite, retirees can visit Too Cool Cafe and Hula Moon Tiki Grill.
17. Tavares
Insider Monkey Score: 85
Insider Monkey Cost of Living Index: 96.9
Insider Monkey Safety Score: 86
Famously known as ‘America’s Seaplane City’, Tavares serves as a wonderful place to retire to. With a population of around 19,000 at the time of the last United States Census, the city offers residents a suburban feel that is perfect for slower yet fulfilling living. Residents can visit the Lake County Museum of Art, relax in nature at Wooton Park, and shop antique and vintage finds at the Through The Years Vintage Market.
16. Pensacola
Insider Monkey Score: 85
Insider Monkey Cost of Living Index: 90
Insider Monkey Safety Score: 66
The next spot on our list of the safest and cheapest cities to retire in Florida goes to the city of Pensacola. The city offers many benefits that make it the perfect Florida retirement spot - a cost of living that is 10% lower than the national average, a safe environment, and a range of amenities fit for retirees. The city’s best attractions include the Pensacola Museum of Art, the National Naval Aviation Museum, and the Saenger Theater where residents can catch their favorite performances.
15. Titusville
Insider Monkey Score: 88
Insider Monkey Cost of Living Index: 92.8
Insider Monkey Safety Score: 73
Starting off our top fifteen is the city of Titusville. Located in Brevard County, Titusville is one of the cheapest but nicest places to live in Florida. Set along the Indian River, the city offers residents a host of activities to busy themselves with. Some of the most popular include Sand Point Park, the Brevard County Enchanted Forest Sanctuary, and the Playalinda Brewing Company where residents can stop to grab a quick bite.
14. Lakeland
Insider Monkey Score: 88
Insider Monkey Cost of Living Index: 91.3
Insider Monkey Safety Score: 70
Set in Central Florida, Lakeland is Polk County’s largest city. With a cost of living index that is 8.7% below the national average, Lakeland offers senior citizens an affordable retirement option. Residents can visit the Polk Museum of Art, the Lake Mirror, and the Hollis Garden for leisure.
13. Vero Beach
Insider Monkey Score: 89
Insider Monkey Cost of Living Index: 94.3
Insider Monkey Safety Score: 76
With a cost of living that is 5.7% lower than the national average and a high safety score of 76, Vero Beach is an ideal retirement destination. True to its name, the city is home to stunning beaches where residents can sunbathe, catch a swim, or enjoy the perfect combo of a sandwich at the beach. The area also offers other activity outlets, such as the Vero Beach Museum of Art and the Riverside Theatre.
12. Lake Helen
Insider Monkey Score: 90
Insider Monkey Cost of Living Index: 96
Insider Monkey Safety Score: 84
A small city with a rural feel, Lake Helen’s winning point is its majestic views. The Colby-Alderman Park, Lake Helen, and Lake Macy are among the best spots in the city - perfect for some much-needed post-retirement relaxation. Residents can also benefit from a lower-than-national-average cost of living, helping them better manage their budgets.
11. Minneola
Insider Monkey Score: 91
Insider Monkey Cost of Living Index: 96.9
Insider Monkey Safety Score: 92
Next on our list of the safest and cheapest cities to retire in Florida is another small town in the form of Minneola. With a population of under 15,000 according to the last United States Census, Minneola is perfect for retirees who want to experience small-town living. While the place may be small, it’s not without attractions with some of the best including the Green Mountain Scenic Overlook & Trailhead.
10. Lady Lake
Insider Monkey Score: 91
Insider Monkey Cost of Living Index: 96.6
Insider Monkey Safety Score: 89
Starting off our top ten is the town of Lady Lake. Set in Lake County, Lady Lake is a small and friendly place that serves as an ideal retirement destination - particularly for retirees who are looking to escape the big city life. Although a small place, the town boasts much to do. Residents can visit the Lady Lake Historical Society and Museum, the Studio Theatre At Tierra Del Sol, and the Orange Blossom Hills - Country Club Restaurant for a dinner to remember.
9. Satellite Beach
Insider Monkey Score: 91
Insider Monkey Cost of Living Index: 96.3
Insider Monkey Safety Score: 88
Satellite Beach boasts a high safety score on our list of the safest and cheapest cities to retire in Florida, making it the ideal pick for retirees who want to retire in an area that gives them a sense of security and peace of mind. Its cost of living index - which is below the national average - is also encouraging for the financially-conscious retiree.
8. Milton
Insider Monkey Score: 91
Insider Monkey Cost of Living Index: 93
Insider Monkey Safety Score: 77
Next on our list of the safest and cheapest cities to retire in Florida is the Santa Rose County city of Milton. With a cost of living that is 7% below the national average, the city is financially friendly towards senior citizens surviving on a Social Security income. Although on the cheaper side, Milton is a great place to retire to, with the town offering plenty of activity outlets. Residents can visit the West Florida Railroad Museum, Carpenter’s Park, and Milton’s loved sandwich spot - McKinley’s Sandwich Shop.
7. Sebring
Insider Monkey Score: 92
Insider Monkey Cost of Living Index: 86.5
Insider Monkey Safety Score: 69
Located in South Central Florida, Sebring is known as the ‘City on the Circle’ after its Circle Drive. The city’s winning point is its low cost of living - at 13.5% below the national average, Sebring is welcoming to senior citizens on a budget and is one of the most affordable places to live in Florida. Residents can visit the Highlands Hammock State Park and Faded Bistro & Beer Garden for a day of fun.
6. Flagler Beach
Insider Monkey Score: 94
Insider Monkey Cost of Living Index: 94.4
Insider Monkey Safety Score: 82
If a beachside retirement is what you’ve dreamed of then Flagler Beach could be your perfect retirement spot. The city offers plenty of opportunities for water recreation - including bird watching and fishing at the Flagler Beach Fishing Pier. Residents can also visit the Flagler Beach Historical Museum and the Flagler Beachfront Winery for a pleasant evening.
