With endless sunny days, miles of beautiful beaches, and a lifestyle built around recreation and relaxation, Florida continues to attract retirees from across the country. For those seeking the best places to retire in Florida on a budget, the Sunshine State offers plenty of affordable destinations without sacrificing quality of life.
Florida is one of the most tax-friendly states in the nation for retirees. It has no state income tax, a homestead exemption of up to $50,000, and no inheritance taxes. Yet, many still wonder if they can find an affordable Florida city that meets their retirement expectations. Luckily, many Florida locations boast attractive environments, ample amenities, and endless entertainment with an affordable cost of living.
We’re here to explore Florida retirement destinations that have a lot to offer at a budget-friendly price. Each of these locations has special qualities that help you get more bang for your buck in an area with an affordable cost of living.
The Villages
Average Home Price: $364,058
Cost of Living: 2.1% below U.S. average; 5% below Florida average
What began as a small mobile home park in the 1970s is now one of the most popular retirement communities in Florida. With more than 60,000 homes and plans for thousands more to be developed, there are many housing options. Although The Villages isn’t near the coastline, it’s known for its active and social lifestyle, supported by a vibrant community with thousands of organized clubs, activities, and events. Also, it’s home to more golf courses than any other community in the world, three town squares, and around 100 restaurants.
The Villages is an age-restricted community, requiring at least one family member to be over 55 years old. However, the community has grown into a self-sustaining city with everything residents need and want. Golf carts are the most common form of transportation, and a variety of housing options are available, with prices starting under $200,000.
Lakeland
Average Home Price in a 55+ Community: $307,211
Cost of Living: 8.4% below U.S. average; 11.2% below Florida average
Located about halfway between Tampa and Orlando, Lakeland has no direct ocean access but is within easy reach of local beaches. Yet, with 38 lakes, there’s no shortage of water activities and gorgeous scenery right outside your back door. While you can expect a slower pace of life than in bigger cities, outdoor activities in the area’s 40 parks and outdoor spaces offer opportunities for swimming, surfing, boat rentals, hiking, camping, and more. Lakeland is also home to a rich arts and cultural scene, with art museums, theatre performances, ballet, and an orchestra.
The cost of living and median home prices are below state and national averages, helping retirees stretch a smaller budget. Lakeland is also home to many active adult communities with affordable housing options, starting at prices below $200,000.
Punta Gorda
Average Home Price in a 55+ Community: $384,931
Cost of Living: 6.3% below U.S. average; 9.1% below Florida average
A small coastal city with a peaceful lifestyle and abundant boating recreation, Punta Gorda is home to 55 miles of canal-front homes and numerous retirement communities. Golf courses, bike trails, and a Fisherman’s Village waterfront complex with 30 shops and restaurants offer ample entertainment opportunities. Residents can enjoy an active community lifestyle with regular events, boating, fishing, and waterfront dining.
Homes, including those on the waterfront, are less expensive than those in many other coastal cities in the Sunshine State. A variety of active adult communities help retirees find affordable homes in neighborhoods with on-site amenities and recreational opportunities.
Ocala
Average Home Price in a 55+ Community: $325,912
Cost of Living: 13% below U.S. average; 15.6% below Florida average
Ocala is the most affordable option on our list of the best places to retire in Florida on a budget. Located about halfway between Gainesville and Orlando, Ocala is a Central Florida city, which generally means a lower cost of living. While the trade-off is sacrificing the coastal lifestyle, Ocala offers a range of amenities and perks ideal for those seeking a different retirement lifestyle.
Ocala is home to a traditional, laid-back Florida lifestyle with a slower pace and a mix of outdoor activities, cultural events, and natural beauty. From world-class golf courses and water activities to parks and hiking trails, traditional outdoor activities are easy to find. Yet, the city’s abundance of equestrian activities is really what makes it stand out. Known as the Horse Capital of the World, Ocala’s landscape is defined by rolling green pastures offering a multitude of opportunities for horseback riding. Downtown, residents can also find entertainment, fine dining, and unique shopping opportunities to round out an active and relaxing way of life.
Ocala is known for its lower cost of living in comparison to some Florida cities. Luckily, this doesn’t mean sacrificing comfort for a lower mortgage payment. Like most of the locations on our list, Ocala is home to a host of active adult communities with gorgeous homes and a range of perks and amenities. Home prices in many of these communities start below $200,000, and thrifty shoppers can even find homes boasting impressive square footage and three bedrooms for under $300,000.
Daytona Beach
Average Home Price in a 55+ Community: $445,044
Cost of Living: 5.1% below U.S. average; 8% below Florida average
While Daytona Beach isn’t always top-of-mind as a retirement destination, everything that makes it a desirable vacation spot transfers to the ideal retirement location for those who live there full-time. Along with the tourist attractions and events, Daytona’s location along Florida’s Atlantic coast means the city is also home to miles of beaches and numerous arts and cultural attractions. Life during the off-season is calm and laid-back, providing residents with opportunities to take advantage of local parks and beaches, shop in over 60 waterfront stores, and enjoy outstanding cuisine in an array of renowned restaurants.
Daytona Beach also offers an impressive range of housing options for all budgets. Various age-restricted communities feature attractive single-family homes and condominiums with modest prices, starting below $200,000. Active adult communities in Daytona Beach also typically provide access to a range of onsite amenities to enhance your lifestyle while stretching your entertainment budget.
Stretching Your Budget Further in Florida Active Adult Communities
If you’re looking for the best places to retire in Florida on a budget, active adult communities across the state offer an excellent way to enjoy resort-style living without overspending. Florida remains a top retirement destination thanks to its tax benefits, sunny climate, and abundance of 55+ communities that cater to active, low-maintenance lifestyles. Many of these communities also provide onsite amenities and social opportunities that are already included in housing or HOA fees, helping you maximize your retirement dollars.
Want to learn more about age-restricted communities that can help you get more bang for your buck in Florida? Contact 55places to chat with our experienced team and connect with a local real estate agent.
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