Number of Americans Who Retire to Florida

By
IntelligentHQ

Florida has become a top destination for people of all groups in the last few years, but one group in particular has stood out: retirees. In America, there is no lack of beautiful beaches, landscapes, and towering buildings. But even retirees who remain active and like to travel want to have a home base to return to recharge. For a long time, places like New York and California were the top destinations, but recently, Florida has emerged as one of the top destinations for retirees.

Below, we will examine the number of people who have moved to Florida in the last few years and why they chose the “sunshine state” for their final act.

How Many Retirees Have Moved to Florida Recently?

For the past two years, Florida has been the #1 destination for retirees. In 2022, out of all the 234,000 retirees who chose to move to a different state, 11.8% decided to move to Florida. In 2023, this number stood at 11% of the 338,000 retirees who relocated. Initially, there was skepticism about how long this influx of retirees would continue, but Florida has proven resilient and is pushing to become even more accommodating to retirees.

Why Are Retirees Choosing To Move to Florida?

Florida has long been a place retirees have considered moving to. It is only recently, however, that Florida has been ranking as the top destination by a large margin. The conventional thinking is that retirees choose Florida for the lovely beaches, and while that may be part of the reason, there is more to it. Below, we will examine why retirees have recently moved to Florida.

  • Tax: Aside from its beaches, one of the most well-known things about Florida is its lack of a state income tax. This lack of state income tax means a retiree will not have to worry about state taxes taken from their Social Security, 401(k)s, or any other form of retirement income. People feel they will be able to make their money last longer. Retirees in Florida also enjoy the tax breaks they can acquire based on income, veteran status, etc. Florida even has sales tax holidays for back-to-school shopping or disaster preparedness season. So, retirees see many opportunities to save their money in Florida.
  • Travel accessibility: Florida is a tourist destination, attracting people from all across the world. This popularity means Florida has a good infrastructure for retirees wishing to travel. Miami International Airport is one of the busiest airports in the country. While at times inconvenient, it also means on an average day, there is no shortage of flights ready to take a retiree anywhere they wish to go. There is also Interstate 95 if they want to travel by road and railings that can help them get around. This infrastructure is appealing not only to retirees looking to make traveling a part of their lives but also to those who wish for family and friends to have easy access to them.
  • Entertainment: As mentioned in the previous section, Florida is one of the top tourist destinations in the world. They are known for its beaches, music, diverse culture, and party scene. However, they also have entertainment venues designed to appeal to retirees. Florida has over 1200 golf courses and a large amount of community centers. It is home to one of only 12 Disney Worlds across the globe and a universal studio. On the tribal lands, retirees can access the casinos they offer. While the best Florida online casinos still prosper and offer fun from home, the tribal casinos make it a point to have their venues open and accessible to members of all age groups. These casinos, such as the Seminole Hard Rock, provide all the classic games with a touch of modernity. Retirees could easily spend their days on the beach and spend their nights playing slots at the casino.
  • Weather: Retirees want to spend their non-working years in a place that is not only quiet but has beautiful weather. While opposed to other states, Florida has to contend with a hurricane season, but for most of the year, it has blue skies and sun. Never any snow, sleet, and rarely gloomy skies. Florida has always stood out from other states for its weather, and retirees are seeing the benefits it offers to their lives.

Conclusion

America is a vast country, so choosing where to retire is always difficult because all states have their benefits. But increasingly, people are choosing to move to Florida. People have seen the benefits of spending the rest of their later years in this state in the last few years. Whether they enjoy the beaches, lack of state income tax, or the travel infrastructure. Florida is becoming a hotspot for retirees, and as long as these factors remain constant or expand, it may see its retiree population dramatically expand for many years to come.

RELATED ARTICLESMORE FROM AUTHOR