10 Things to Know Before Retiring to Florida

In this list of 10 things you need to know before retiring in Florida, we’ll present some definite bonuses for living there. We’ll also mention a few things that may concern you, but haven’t stopped people from flocking to the Sunshine State.

10. Florida Is the Second-Most Tax-Friendly State for Retirees

person holding paper near pen and calculator — Photo by Kelly Sikkema

Florida has no state income tax and that’s not likely to change anytime soon. That also means there are no state taxes on Social Security benefits, pensions, IRAs, 401(k)s, and other retirement income. There’s also no inheritance tax or estate tax. Snowbirds must live more than half a year, 183 days, annually in Florida to reap these tax benefits.

9. Florida Has Lots of Insects and Critters

Alligators are far from the only living creatures moving about in Florida. Homeowners must worry about termites and rats, both of which can cause costly damage. There are lots of biting insects too, including ticks and abundant mosquitoes. Non-native Burmese pythons are a growing problem. These invasive snakes are popping up in all kinds of spots.

8. The Housing Supply Is Increasing

Previously, Florida was suffering from a housing shortage. But now it has the opposite problem. There is an increase in inventory and not enough buyers. Realtors say buyers have “pretty high” odds of getting a below-market value offer on a home excepted. Still, the average Florida home value is up 3.2% over last year at $399,944.

7. You Can Get TOO Much Sun (And It’s Not Always Sunny)

Florida is called the Sunshine State because it averages between 230 and 255 days of sunshine per year. Overexposure and sunburn are serious risks. Florida ranks second in the US for new cases of skin cancer. One in ten Floridians have it. However, there are also a lot of storms. Only Oklahoma barely edges out Florida as the lightning capital.

6. Dealing With Tourists (Or Not)

Tourism in Florida reached an unprecedented level in 2023 with more than 140.6 million visitors. It’s a way of life in Florida, especially at certain times of the year, that brings increased traffic on both roads and sidewalks. However, if you do want to escape tourists, it can be done by seeking out living locations away from popular destinations.

5. The Beach Isn’t Easy to Reach From Everywhere

Many people think the beach is within easy reach from everywhere in the state. It isn’t. For example, all the world-famous theme parks are in Orlando, which sits in the middle of the state. It’s an hour or so car trip to get to the beach from there. Do your research if frequent beach visits are part of your plan.

4. More People Keep Coming

Folks were already moving to Florida in droves before the pandemic and inflation prompted even more people to seek affordable living. Florida has long been the destination for retirees seeking warmer climates. Currently, Florida is the second-fastest-growing state. The largest demographic arriving is seniors. The number of seniors is expected to increase by several million by 2030.

3. You’ll Need a Lot of Insurance and Emergency Funds

Due to hurricane risk, insurance companies in Florida require that some property owners purchase both homeowner’s insurance and flood insurance and even windstorm coverage. Every Florida resident should save at least six months of emergency funds to cover other costs that could arise during a disaster, such as temporary housing or situations that could impact their income.

2. Be Prepared for Harsh Weather

While Florida offers plentiful sunshine and some of the best weather in the US, it also has some of the worst. Harsh weather threatens Florida six months of every year during the Atlantic hurricane season. Before moving to Florida, it’s worth determining if the savings you’ll gain are outweighed by the additional insurance costs you’ll incur to protect your property.

1. Fresh Seafood on Every Corner

Being that Florida is a peninsula surrounded by water, it offers availability to some of the best fresh seafood in the United States. It’s bordered by the Gulf of Mexico and the Atlantic Ocean, so how could it not? Florida ranks among the top states for seafood production. You can find fresh, delicious seafood at practically every corner restaurant.