Once thought of as the ideal place to live out one’s golden years, Florida is quickly losing favor with retirees.
Remote workers and the wealthy are flocking to the state and driving up home prices, leaving those on a fixed income feeling the pinch.
The median price of a single-family house in Florida rose $150,000 or 60% in the last 5 years. But expensive housing isn’t the only thing repelling retirees from the state. Inflation and stock market dips have also negatively impacted their financial situation.
In response, 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.
If you’re nearing retirement, you may want to choose a less traditional region to reside in post-work. Towns like Sequim, Washington, Linden, Michigan, and Thermopolis, Wyoming, offer perks like more affordable housing, favorable tax treatment, and proximity to major metros.