15 Secrets About Living in Florida That Retirees Need To Know

Are you considering moving to Florida for your golden years? Before you do, there are some essential things about the state that you don’t know.

If you're planning for a stress-free retirement, check out the following secrets about living in Florida — both good and bad — before you decide to retire in the Sunshine State.

Florida can be a tax-friendly state for retirees, which helps if you’re on a fixed income. 

The state doesn’t tax Social Security income, and you don’t have to pay state taxes on any withdrawals from retirement accounts.

Florida also doesn’t have a state income tax, which can help if you or a spouse plan to work a bit during retirement.

All of these factors can help you avoid wasting money during your golden years.

While taxes can be low in Florida, don’t expect to live tax-free.

The state imposes a 6% sales tax on most goods, and counties can impose additional sales taxes. In some counties, you can expect to pay an extra 1.5% in sales tax.

You also face property taxes if you own a home, condo, or other property in the state. This tax can vary from location to location within the state.

Remember that you’ll still have to pay federal taxes when you live in Florida.

Florida is an excellent place for retirees because it caters to seniors, who comprise a large chunk of the state’s population.

In fact, 21.7% of Florida’s population was over 65 in 2023, according to the U.S. Census Bureau. A 0.1% increase from the 2022 census.

Living in a place with so many other retirees might make it easier to meet new friends who share similar life experiences.

Like other large states, Florida has regions that are very different from one another. So, it’s a good idea to check out different places in the state before deciding where you want to live.

North Florida, for example, differs from South Florida. Each region has a different culture, and some areas might be more vulnerable to threats like hurricanes and climate change.

Check out different cities in different areas of the state before you move so you can figure out which area is right for you.

Toll roads can be difficult to avoid in Florida. If you live near sections of the Florida Turnpike, you might have to pay to get to your destination quickly.

In addition, some coastal islands might charge tolls at bridges.

Florida is a great destination for vacationers and snowbirds, but that fact also means it can get a bit crazy during some seasons.

When thinking about where to live, remember that some places may be difficult to get around during spring break and the height of the snowbird season.

For example, restaurant waits can become much longer in the winter than in the summer.

A home or condo in Florida can be more affordable than you might think. However, prices have been rising in recent years.

According to Redfin, the median sale price of homes in Florida was $402,900 in September 2024. That's 0.066%  lower than the year before.

Although the inventory of homes for sale in Florida has improved recently, finding a home can still be challenging.

According to the Federal Reserve Bank of St. Louis, Florida's housing inventory reached a recent peak of more than 155,000 homes in February 2019 before dropping to a low of 35,590 in February 2022.

Things have gotten better, though. In April 2024, 198,362 homes were on the market, meaning that the market is rebounding.

Florida sees its share of extreme weather, from hurricanes and tropical storms to flooding from less robust storms.

In addition, some people find the heat and humidity of summer oppressive. The sun shines much of the time in Florida, but during the summer, frequent afternoon thunderstorms are a fact of life.

It’s not just hurricanes and tropical storms that can damage your home. Salt air can cause corrosion or damage to your home or car.

Humidity can cause issues such as mold and mildew. If you live near a beach, you’ll also want to factor in sand.

Homeowners insurance can deliver one of the biggest hits to your budget. The cost of such coverage has skyrocketed in Florida.

The Insurance Information Institute says Floridians pay $6,000 on average for a homeowner premium in 2023. That compares to an average of just $1,700 nationwide.

Florida also has high auto insurance rates. Insure.com recently found that annual auto premiums average $2,560 in the Sunshine State, the most expensive in the nation and 52% higher than the nationwide average of $1,682.

If you plan to live in Florida, beware of scammers. The state is one of the more popular places for criminals to prey on residents.

According to the Federal Trade Commission, the state ranks third in the U.S. for identity theft scams and fourth in the nation for fraud and other scams.

Scammers took $556.8 million from Florida residents in 2022. The median fraud loss was $800, compared to a national median loss of $650.

Some retirees who move to Florida soon discover it's not for them.

In fact, there are enough of these folks that they have earned a nickname: “halfbacks,” as in residents from northern states who move to Florida and then leave to head “half the way back” and stop in a place like North Carolina.

Florida tops the list of states where residents move from when they head to North Carolina, according to a report by Carolina Demography and the University of North Carolina.

This may be a good reason to look at other potential locations outside of Florida before you decide to move to the Sunshine State.

Florida has something for all types of sports enthusiasts, from those who enjoy watching sports to those who participate in them.

The state has plenty of golf courses that can be played year-round due to Florida’s great weather. You can also head out on the water for boating, kayaking, and water sports.

Florida is also well-known for hosting plenty of baseball teams during spring training, and you can see many of them for a fraction of the cost of watching them play in their hometowns.

The state also has professional football, baseball, hockey, and basketball teams, and soccer is also becoming more popular.

You’ll never be bored in Florida — and neither will family members who come to visit your new home.

The state is home to amusement parks such as Disney World and Universal Studios. You will also find plenty of beaches for fun in the sun.

Florida hosts major events such as the Daytona 500 and annual music festivals that are sure to attract visitors who want to spend time with you in Florida. Your friends will likely appreciate the opportunity to stay with you and save money on travel.

Florida can be a great option for retirees, but there are several things you should consider before you decide to move there.

So, before you relocate, grab one of the best travel credit cards and book a trip to the Sunshine State. After visiting for a while, you might better understand whether retirement in paradise is the right fit for you.