Retirement Retired Life

9 Best Florida Cities To Retire on a Monthly Budget of $2,000 or Less

Retirees who value proximity to the water should consider these Florida cities for their golden years.

By Calista Headrick

Edited by Lauren Gordon

Updated March 28, 2025

The Sunshine State is a popular destination for retirees looking to relocate. From the sandy beaches to iconic attractions, many dream of spending their golden years under the Florida sun. But when considering where to live, seniors planning for retirement should also consider housing costs.

FinanceBuzz analyzed 180 cities across the U.S. and evaluated them based on various factors, such as affordability. Which Florida cities offer retirees the lowest housing costs? Here are nine where monthly mortgage costs are under $2,000.

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Lakeland

Median monthly mortgage: $1,750

According to the FinanceBuzz study, monthly housing costs in this city are under $1,800. Known as the "City of Lakes," residents can choose from 38 of them to enjoy an array of outdoor activities from bird watching to kayaking. The city is also just a short drive away from Orlando.

The median sale price of a home in Lakeland is also affordable, coming in at $277,500.

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Palm Bay

Median monthly mortgage: $1,776

Palm Bay is ideal for retirees who dream of spending their golden years by the ocean — the city is just a 15-minute drive from Melbourne Beach. And from museums to art galleries and theaters, there's plenty to keep you busy.

Palm Bay is also an affordable place to purchase a home in retirement. The median home sale price in the city is $330,000.

Punta Gorda

Median monthly mortgage: $1,824

Located in Charlotte County, Florida, Punta Gorda is home to a large population of retirees. With a laid-back lifestyle and plenty of waterfront views, the city is a great fit for those who want to indulge in fishing and boating while still enjoying shops, restaurants, and other outdoor recreation.

Home prices in Punta Gorda typically go for around $360,000.

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Jacksonville

Median monthly mortgage: $1,832

According to U.S. News & World Report, Jacksonville is the largest metro area by land mass in the continental U.S., which means there won't be a shortage of things to keep you busy in retirement. From its proximity to the Atlantic Ocean to camping and hiking in places like Hanna Park and the Timucuan Ecological & Historic Preserve, the city has options for any type of lifestyle.

The cost of housing is also lower than the national average. The median sale price of a home in Jacksonville is $299,492.

Tampa

Median monthly mortgage: $1,910

Another major city on the list, Tampa offers the big-city life that some retirees crave. In fact, it is the third largest city in the Sunshine State. Situated right on the water with access to attractions such as Busch Gardens, Zoo Tampa, and the Florida Aquarium, there's something for everyone.

In Tampa, the median home sale price is $449,950.

Destin

Median monthly mortgage: $1,926

Located on Florida's Emerald Coast, this seaside city is known for its crystal clear, white sand beaches. And as the self-proclaimed "World's Luckiest Fishing Village," retirees living in this Florida city are sure to enjoy a fantastic fishing scene.

Houses in Destin typically go for a median sale price of $490,000.

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Sanford

Median monthly mortgage: $1,926

Sanford has a small-town feel while still offering retirees access to larger cities; it's located about halfway between Orlando and Daytona. The city is also known for its historic downtown area, which is home to many boutiques, restaurants, and antique stores for retirees to enjoy.

Life in Sanford is also reasonably affordable for those on a strict budget. Below the national average of $425,249, the median price of a home is $340,000.

Cape Coral

Median monthly mortgage: $1,944

This quiet and relaxed community is ideal for retirees who want to spend their days outside and on the water. From its location on the Caloosahatchee River to its easy access to the Gulf of Mexico, it offers a calmer, more inviting atmosphere than some of the larger neighboring cities like Naples and Fort Myers.

Homes in Cape Coral typically go for around $390,000. But when you compare it to Naples, where the median price of a home is $1.2 million, the city is much more affordable for retirement.

Port St. Lucie

Median monthly mortgage: $1,950

Port St. Lucie is located on Florida's east coast and is part of St. Lucie County, which features 21 miles of beaches. Despite its relaxed and laid-back atmosphere, retirees craving more excitement still have easy access to larger cities — Port St. Lucie is about halfway between Orlando and Miami. And for sports lovers, the New York Mets use Clover Park for their spring training.

With a median home sale price of $410,000, this is still cheaper than the national average.

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Bottom line

Whether you want to spend your golden years in the sand and under the sun or dream of staying active and busy, these Florida cities are both affordable and offer something for everyone.

But Florida has other perks in addition to low monthly mortgage costs.

The state has no income tax, which means earnings from pensions, Social Security, and retirement accounts are tax-free.

There is also no estate or inheritance tax. When considering where to settle down for a stress-free retirement, taking advantage of benefits such as these is a smart money move for seniors.

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