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Located in the heart of Central Florida, Lake Placid offers the best qualities of small-town America. Surrounded by scenic lakes, nature preserves, and cultural attractions, the “Town of Murals” is perfect for active adults. With two 55+ communities in Lake Placid—Covered Bridge and Tomoka Heights—the area’s affordability makes it an appealing option for retirees.
But is Lake Placid, Florida a good place to live? From outdoor recreation to affordability to lifestyle opportunities, learn what makes this Central Florida gem shine in this comprehensive guide.
Residents of Lake Placid enjoy the same pleasant climate that earned the Sunshine State such a positive reputation with active adults. The temperature and humidity vary from season to season, but Lake Placid sees pleasant weather and sunshine all year round.
During the warmer months (May to October), the daily temperature averages above 87 degrees. The hottest month of the year is July with an average high of 90 degrees. The hottest months can bring intense humidity, but it’s the perfect time to cool off in a pool or lake!
Despite hot and wet summers, the winter months (November to April) bring average lows that rarely dip below 50 degrees. Even January enjoys an average high of 74 degrees. Residents of Lake Placid can experience the outdoors all year round without having to worry about cold or frost.
For nature lovers wondering if Lake Placid is a good place to live, the area boasts an abundance of natural areas, lakes, and outdoor recreation. The pleasant climate allows for outdoor fun all year, promising plenty of things to do in Lake Placid.
Lakeside Retirement in Florida
As the name suggests, Lake Placid features several sizable lakes that provide easy access to the water. Lake June in Winter, Lake Istokpoga, and (of course) Lake Placid, provide ample opportunities for water sports such as boating, kayaking, fishing, skiing, and swimming.
Golf, Parks, and Beaches
For fun out of the water, active adults can explore the area’s natural areas, reserves, and parks. Parks such as Lake June in Winter Scrub Preserve State Park, Lake Wales Ridge Wildlife and Environmental Area, and Highlands Hammock State Park offer hiking trails, camping plots, and picnic areas. Fans of wildlife will find no shortage of critters and birds to spot in these dense wilderness preserves.
For those with a competitive side, Placid Lakes Country Club offers 18 holes of golf that showcase the region’s natural beauty. Also, residents can drive to the Gulf or South Atlantic Coast within 90 minutes, making a day at the beach within reach.
One hub for community entertainment in Lake Placid is the Genesis Center, a sizable banquet hall in the center of town. This pillar of the community includes a performing arts theater that comfortably seats 800 guests and hosts a variety of performances and events. The building also holds indoor sporting events such as pickleball, basketball, volleyball, and soccer.
Residents can find a decent variety of cuisines without having to leave Lake Placid. Whether the craving is for Asian food at Cangs Restaurant, brunch at Main Street America, or casual grub at Tabby’s Bar and Grill, residents of Lake Placid can find plenty to eat in town.
For those who like to shop, Lake Placid has several shopping centers, thrift stores, and local craft shops to browse. All conveniences such as drug stores and groceries are easily accessible in town as well.
More Entertainment Options
Residents can also explore the town of Sebring, which is only 20 minutes north. This neighboring city is home to its own theaters, restaurants, and local hotspots that are easily accessible from Lake Placid.
Lake Placid has a small-town feel but packs a big punch when it comes to culture. The town has two nicknames and offers residents a rich history to explore.
The Caladium Capital of the World
One of Lake Placid’s nicknames is “The Caladium Capital of the World” thanks to the town’s cultivation of about 98% of the world’s caladium bulbs. Lake Placid hosts the Caladium Festival every year in July where residents can come together for a good time.
Town of Murals
The other nickname for Lake Placid is “Town of Murals” due to the nearly 50 outdoor murals decorating buildings in town. Residents can spend an entire afternoon seeing all the murals and enjoying everything else the town has to offer.
The largest hospital in Lake Placid is AdventHealth Lake Placid. This hospital (and its sister location in nearby Sebring) provides a wide range of services for their patients. AdventHealth Lake Placid has high-performance scores for their heart procedures, according to U.S. News, so patients can expect exceptional care for health issues both common and serious.
Other medical and urgent care centers in Lake Placid include Care Center of Lake Placid, Millennium Physician Group, and Lake Placid Emergency Physicians. Access to good healthcare contributes to the healthy lifestyle of those living in Lake Placid.
Cost of Living
For active adults on a budget, an area’s overall cost of living can incentivize a move. In that regard, Lake Placid remains highly appealing to active adults looking to retire in Florida without breaking the bank.
The overall cost of living in Lake Placid often ranks 17% lower than the national average, according to BestPlaces. Residents save the most on housing, which costs approximately 34% less than housing in other cities in North America. This statistic poses a considerable advantage to active adults looking to become homeowners in the area.
While residents of Lake Placid may spend slightly more on groceries and healthcare, they save in other areas. Residents also save on transportation costs, including gas, car insurance, and repairs, as well as other miscellaneous costs such as restaurants and entertainment.
Homebuyers will find that Florida is an exceptionally tax-friendly state, especially for retirees and active adults. The taxes alone make Florida one of the most popular retirement states in the country. Low tax rates and special exemptions, like Florida’s homestead exemption, make living in the Sunshine State more affordable than most states.
Florida doesn’t tax any income, and that exemption includes all retirement income such as pensions, 401(k)s, and IRAs. Retirees also don’t have to worry about an estate or inheritance tax, and the sales tax is only 6%.
The average property tax rate for Highlands County is 0.96%, and there are discounts for those who pay their taxes early. The homestead exemption also allows homeowners to nullify a large portion of their home’s value if they meet the proper requirements.
Active Adult Communities
With year-round warm weather, cultural and natural attractions, and an easy-going small-town feel, Lake Placid offers an ideal location in Central Florida for active adult communities. The two age-restricted active adult communities, Covered Bridge and Tomoka Heights, offer potential homebuyers two unique options when shopping for Lake Placid, Florida homes for sale.
Low $100ks – High $100ks
Built in 1973, Covered Bridge includes 230 single-family and attached homes. Residents live a low-maintenance lifestyle thanks to a homeowners’ association (HOA) that takes care of outdoor maintenance. Also, active adults enjoy amenities such as a clubhouse, outdoor pool, fitness center, and pickleball courts.
High $100ks – Mid $300ks
Built between 1982 and 2018, Tomek Heights consists of approximately 460 single-family and attached homes. Residents have access to a wide range of amenities, including boating and fishing access to a private lake called Lake Henry. Neighbors also meet for an array of clubs and social events, such as sports, holiday parties, and game nights.
Is Lake Placid, Florida a Good Place to Live?
Lake Placid showcases some of the best aspects of the region and Florida as a whole. With affordable homes and lenient taxes, residents can enjoy the year-round warm weather and ample outdoor amenities without breaking the bank. Also, both Covered Bridge and Tomoka Heights offer comfortable homes, amenities, and healthy lifestyles of their residents.
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