Retirees Are Selling Their Florida Condos in Droves (And Moving to These 7 Spots Instead)

Recently, Florida condos have lost their luster for retirees. While the Sunshine State used to be a top retirement destination, a series of events has caused costs to skyrocket, making it much more difficult to justify a financial commitment. People looking to save money in retirement are choosing lower-cost locations.

Here is why retirees are selling their Florida condos and moving to these 7 other spots instead.

Why Florida condos are becoming harder to sell

Florida tightened its condo rules after the 2021 collapse of Champlain Towers South in Surfside, which killed 98 people. Condo buildings three stories or taller now need "milestone" structural inspections once they reach a certain age, plus a structural integrity reserve study every 10 years.

Associations that put off maintenance for years are now paying to catch up, and many face higher property insurance costs. Owners cover both through bigger monthly fees and special assessments.

Statewide sales data reflects this market change. Florida had a 7.7-month supply of condos and townhouses in September 2026, compared with 4.4 months for single-family homes, according to Florida Realtors. The statewide median condo-townhouse price fell 1.8% from a year earlier to $293,500. Single-family prices rose 1.2%.

Southwest Florida has it worse. Florida Gulf Coast University found that inflation-adjusted condo prices there fell 8% in the second quarter of 2026 compared with a year earlier.

Financing is another hurdle. Fannie Mae won't buy mortgages on units in buildings that need critical repairs, and lenders also review whether associations have adequate reserves and master insurance. That narrows the buyer pool to cash buyers and people using less common loans.

So, retirees are seeking out these 7 other spots instead.

Marietta, Georgia

Marietta puts you near Atlanta-area specialists, including Wellstar Kennestone Regional Medical Center, a Level I trauma center. Georgia excludes up to $35,000 of retirement income from state tax for ages 62 to 64, and $65,000 for ages 65 and older.

The trade-off is price. Redfin's median sale price was $431,295 for the three months ending in September 2026, so expect to spend more than what you'd get for a typical Florida condo.

San Antonio, Texas

San Antonio is the cheapest market here. Homes sold for a median of $257,377 over the three months ending in September 2026, according to Redfin, well below the Florida condo median.

Texas has no individual income tax, and homeowners 65 and older get an extra $60,000 homestead exemption for school taxes. Property taxes are the catch here, as the city raised its property tax rate for the first time in 33 years, to about 0.563%.

Raleigh, North Carolina

Raleigh gives up the beach in exchange for big-city medical care, including WakeMed's Raleigh Campus a few miles from downtown. North Carolina doesn't tax Social Security, though most other retirement income is taxed as ordinary income.

Redfin's median sale price was $414,802 for the three months ending in September 2026. This is a move for health care access and beautiful scenery more than savings.

Wilmington, North Carolina

Wilmington is the pick if you still want a beach. Novant Health New Hanover Regional Medical Center provides excellent medical care, and North Carolina's Social Security exemption applies here too.

Living in Wilmington isn't cheap. Redfin's median sale price was $464,779 for the three months ending in September 2026. Redfin also flags 17% of properties for severe flood risk over the next 30 years.

Greenville, South Carolina

Greenville is inland, and Prisma Health's main Upstate campus centers on Greenville Memorial Hospital, an adult Level I trauma center. South Carolina doesn't tax Social Security, and residents 65 and older can claim up to a $15,000 deduction against South Carolina taxable income.

Housing costs are the big drawback. The median home sold for $492,266 over the three months ending in September 2026, according to Redfin.

Knoxville, Tennessee

Knoxville is one of the cheaper picks, with a Redfin median sale price of $324,845 for the three months ending in September 2026. University of Tennessee Medical Center is the region's academic medical center.

Tennessee doesn't tax Social Security or other retirement income, and its effective property tax rate is 0.52%. Trading a condo for a house also puts all the repair costs back on you, so your savings might not be as much as you think.

Savannah, Georgia

Savannah keeps you on the coast for an affordable price. Redfin's median sale price was $334,841 for the three months ending in September 2026, and Memorial Health University Medical Center is in town.

Georgia's retirement income exclusion applies here too. But the city's flood guidance names hurricane storm surge as the main threat and warns about heavy-rain flooding, so plan on buying expensive flood insurance.

What to check before you sell your Florida condo

Tax calculations come first. If you owned and used the condo as your main home for at least two of the five years before the sale, you may exclude up to $250,000 of gain from federal income tax, or $500,000 on a joint return.

Leaving the state also costs you Florida's Save Our Homes cap, which keeps a homestead's assessed value from rising more than 3% a year. Portability only moves that savings to another Florida home.

Finally, get your association's reserve study and any planned special assessments in writing before you list, since buyers' lenders will check.

Bottom line

The cheapest move isn't always the smartest one. If price matters most, San Antonio and Knoxville have the lowest medians on this list. If you want to stay near the water, Wilmington and Savannah work, but expect storm and flood costs to follow you.

You'd have company either way. About 45,700 people 65 and older moved to Florida in 2025 while nearly 44,900 moved out, according to HireAHelper data reported by AARP. To avoid money mistakes, compare your full yearly cost in both places before you list, from taxes and insurance to HOA dues, not just the sale price.

You May Also Like

Almost 80% of Americans Fear a Retirement Age Increase — Here’s the Real Reason Why

By FinanceBuzz Editors

10 Smart Money Moves to Retire Stress Free

By FinanceBuzz Editors

The Easiest Way to Diversify Your Investment Portfolio With Fine Art

By FinanceBuzz Editors

7 Brilliant Ways to Build Wealth After 40

By FinanceBuzz Editors

5 Ways Seniors Are Throwing Away Money

By FinanceBuzz Editors

Best High-Yield Savings Accounts of November 2026, Compared

By FinanceBuzz Editors

Save Money and Get Huge Discounts on Everyday Purchases

AARP Benefits

• Huge discounts on travel, groceries, prescriptions and more
• Access to financial planning resources and health tools
• Join AARP and get 25% off with automatic renewal

Become a member now!

---

Subscribe Today

Learn how to make an extra $200

Get vetted side hustles and proven ways to earn extra cash sent to your inbox.

or

Subscribe Now →

By submitting this form you agree to receive emails from FinanceBuzz and to the privacy policy and terms