9 Southern Cities That Are Getting Too Expensive for Retirees

Whether you’re gearing up for retirement or just planning ahead, choosing where to live is crucial to avoid wasting your retirement savings.

The place you choose to spend your golden years affects everything from the cost of living, health care, taxes, and ultimately how far your dollar will stretch. While many retirees head South for the warm weather and tax perks, not all southern cities are as budget-friendly as they once were. 

Before you pack the moving van, consider these southern cities that are becoming too expensive for retirees.

Florida is a popular spot for retirees. Sun, sand, and no income tax, what’s not to love?

In Palm Beach, over 25% of residents are over the age of 65. And despite the median income being just around $85,000, the median listed home price is $4.3 million.

Retirees who don’t want a hefty mortgage should steer clear of Palm Beach.

Brentwood’s low crime rate and mild weather make it a hotspot for retirees. With its proximity to the Music City, there are plenty of shows, museums, and restaurants to keep you busy.

About 15% of Brentwood residents are over 65, but affordability may be a problem since home prices have risen almost 36% in the last year.

Even though Tennessee's cost of living is lower than the national average, with a median listed home price of $1.4 million, you may want to steer clear of Brentwood.

Those contemplating retirement in Naples, Florida, are probably excited to live close to the beach and enjoy world-class dining and museums.

You won’t have to worry about paying taxes on Social Security benefits or retirement income, but you might need to worry about health care costs.

The average monthly cost of nursing home care in Naples is $10,391, which is $1,357 more than the national average.

With over 200 days of sunshine per year, Charlotte has been one of the top locations for retirees to settle down in recent years.

Unfortunately, most of the costs of living are higher in Charlotte than the state’s average. It’s not just housing costs that have gone up. Everything from food to doctor visits seems to cost more.

Retirees may want to avoid this city if they’re looking to make their retirement dollars go further.

Boca Raton is a long-standing favorite location for retirees. With 24% of its population over the age of 65, the city draws the older crowd with a mild year-round climate.

Unfortunately, younger crowds have discovered this hidden gem. Over the last few years, the downtown development has included million-dollar hotels, bars, and office buildings.

Retirees looking for a slower pace and relaxation may not love all the newcomers and construction, not to mention the higher cost of living that comes with it.

San Antonio has been a top destination for retirees for the last few years.

With no income tax and a warmer-than-average climate, people over 65 have been flocking to this southern city in the Lone Star State.

However, high property taxes and rising sales tax may have you rethinking about joining this southern community as a retiree.

In Hilton Head, more than 39% of the residents are 65 or older. However, home prices have jumped up 10% over the last year. 

Now, the median cost of a home is over $764,000. Health care and grocery prices are also above the national average.

Comfortable year-round temperatures and numerous amenities have drawn retirees, although the cost may be prohibitive moving forward.

Bella Vista has a large retiree community, with more than 32% of the population being over age 65.

Unfortunately, Arkansas requires seniors to pay taxes on retirement income. Home prices have also been on the rise. The city has seen a huge jump in home prices over the last three years.

Although the median home price of $350,000 is still below the nation’s median of $427,179, according to Redfin, seniors may want to reconsider settling here, given how housing costs continue to escalate.

For years, retirees have been drawn to Asheville's small-town feel.

You can be close to nature and 10 minutes away from walking down the main street exploring restaurants, shops, breweries, the local live music scene, and more. Unfortunately, this pristine retirement location comes at a cost.

Housing and health care are both higher than the national average, and thanks to the influx of people who’ve discovered this gem of a city, costs don’t seem to be coming down anytime soon, which could make it harder to save money on travel. Asheville was also heavily impacted by Hurricane Helene. If you are considering a move there, you should double-check that the city is prepared to welcome new residents before doing so. 

If you’re looking for a stress-free retirement, you should take your time to find a location that meets all your needs and fits into your budget.

Just because a location is popular with other retirees doesn’t mean it's the only option.

Take into consideration not only your current needs, like leisure activities and housing, but future concerns, like access to medical facilities and long-term care costs.