Florida Didn't Even Crack the Top 20 Best States to Retire - Here's Why

Florida has long had a reputation as being the go-to state for retirees. Yet, the Sunshine State didn't even make it into the top 20 in a new analysis by Choice Mutual ranking the best states to retire. In fact, despite scoring favorably when it comes to tax friendliness and having the lowest crime rate for seniors in the nation, Florida ranked No. 44 overall, putting it in the bottom 10. Both financial and livability factors pulled its rating down.

A key part of planning for retirement is thinking ahead to hopefully anticipate and avoid money mistakes. And for some, unfortunately, the study suggests moving to Florida could be a big one. The analysis highlights seven factors that help explain Florida's low overall ranking, including affordability, weather, and support services.

Cost of living

For decades, Florida has been a retirement hotspot because many assume it is an affordable way to enjoy pleasant, coastal weather in their golden years. But the Choice Mutual analysis ranked it No. 41 out of 50 states when it comes to affordability.

Florida ranked incredibly low despite having no state income tax and no state estate or inheritance tax. The average home value in the state is about $376,000, according to Zillow, which puts it just above the national average. But Florida also has notoriously high home insurance costs.

Weather

The Choice Mutual analysis used National Oceanic and Atmospheric Administration (NOAA) data to get average temperatures across the country and ranked those with mild year-round averages higher.

Florida, with its extremely hot summers, again ranked 41 out of 50 when it comes to weather, despite offering pleasant winters where temperatures tend to stay between the 50s and low 70s through April.

Health care

Florida ranked higher for health care, which the study evaluated using U.S. News & World Report's health care rankings. The system factors in access to health care, so states with easier access to hospital systems and doctors rank higher, as well as health care quality and public health outcomes.

Florida was ranked No. 21 out of 50, but the health care score was not quite enough to push it higher on the list of best states to retire.

Access to living assistance/support

The study included a few additional factors, including "community integration," which refers to things like access to housing assistance for people with disabilities, age-friendly health systems, and the like.

Florida was nearly dead center (28 out of 50) in its community integration ranking, even though about 22% of the state's population is aged 65 or over.

Transportation access

Transportation access was also part of the community integration ranking and is based on AARP's "livability" rankings for retirees from 2023.

To give each state a transportation score, the organization considers factors like frequency of local transit, ADA accessible stations and vehicles, walkability, and household transportation costs. Florida's transportation score is just below the national average.

Choice of setting/provider

A final category similarly rating senior support services was labeled "choice of setting and provider," and was also based on AARP's 2023 state scorecards.

Florida again ranked in the bottom half — 36 out of 50 — in this evaluation, which is based on factors such as competitive wages for support workers for older adults and those with disabilities, Medicaid and Medicare enrollment numbers, and other supportive services for older adults.

Home health aide access

Access to home health aides falls under the broader "choice of setting/provider" category listed above. Although access improved before AARP's 2023 rankings, the number of available home health aides still fell well below estimated demand nationally and in Florida.

Nationally, there were 24.8 home health aides available per 100 adults with a self-care disability. In Florida, there were only 15.2 available per 100.

New York ranked the highest when it comes to aide availability by a long shot (55.7 per 100).

Which states were ranked highest?

Despite the common notion that retirees can and should move down south, Choice Mutual's rankings of the best states to retire didn't put a single southern state in the top five. Pennsylvania took the No. 1 spot, due to a low crime rate, high-quality health care, and a range of support services for retirees.

Like Florida, the state also does not tax retirement income.

Iowa, Nebraska, Rhode Island, and Delaware rounded out the top five — and all had lower cost of living scores than Florida.

Bottom line

The analysis focused mostly on financial rankings, general community, and support/health services for residents aged 65 and up.

When you crunch the numbers and start making real progress on your retirement plan, you might find that the perks of living in Florida, like tax friendliness, low crime rate, and warm winters, outweigh the issues outlined in this study. For some retirees, the Sunshine State may very well still be the right answer.

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