As a real estate brokerage located in South Florida, we know a thing or two about Florida being a popular retirement destination. Affectionately known as “Snow Birds”, many Americans choose to purchase a second home in South Florida. Typically, these seasonal residents call South Florida home for the fall and/or winter months. In addition to an opportunity to escape the bitter cold of the north, it also allows them to enjoy mild and cool climates of the winters on the beaches of South Florida.
So Florida must be the best state to retire in, correct? Well, Bankrate.com just released their Best and Worst States to Retire in 2021. We discuss the results below.
The breakdown
All 50 states were examined and ranked based on affordability (weighted 40%), wellness (weighted 20%), culture (weighted 15%), weather (weighted 15%) and crime (10%). The Bankrate.com report then ranked all 50 states accordingly.
The top 5 states (#1 – #5) to retire in according to this analysis were as follows:
- Georgia (#1)
- Florida (#2)
- Tennessee (#3)
- Missouri (#4)
- Massachusetts (#5)
The bottom 5 worst states (#50 – #46) to retire in according to this analysis were as follows:
- Maryland (#50)
- Minnesota (#49)
- Kansas (#48)
- Montana (#47)
- Alaska (#46)
Summary
Overall, this report underscores the fact that most Americans want to enjoy their retirement in a place with a low cost of living, low crime, nice weather, good culture, and other similarly aged people. Not surprisingly, Florida ranked extremely high once again as a top retirement destination. The Sunshine State offers tropical climates, a diverse culture, and no state income tax. Moving forward, we expect Florida to continue to rank highly as a top retirement destination.
Are you looking to buy or sell a property in South Florida? Now more than ever, it is critical to have a qualified real estate team and the proper search tools behind you. At Live South Florida Realty, Inc., we have been a leader in the South Florida market for many years. Let our team of professionals assist you with buying or selling your piece of paradise today! In addition, our recently launched “Florida Home Search” app is now available on the Apple App Store and Google Play Store. With real-time MLS feeds, this app lets you set your own alerts to notify you as soon as a property meeting your needs hits the market. Furthermore, it will also let you know of recent closed sales in your area so that you may be even more educated on the market. Be sure to download this app for your smartphone or tablet today!
