Florida has long been a favourite retirement spot, but a recent survey has confirmed its popularity. So much so that when it comes to the best place to retire in the US, Florida cities dominate the ratings.
A recent survey by WalletHub seeking the best place to retire in the US finds that Florida cities take four out of the top ten places in the overall ranking. In the Affordability subsection, cities in the Sunshine State increase their lion’s share to five of the first ten places and Florida also features in the Activities subsection.
Florida takes three out of five
Dominating the top five best places to retire are locations in Florida. At the top and earning the accolade as the best place in the entire country for retirement is Orlando. Hot on its heels come Tampa in second place and Miami in fourth. Orlando achieves a score of 61.02 out of 100 and the other three Florida cities obtain around 59. Completing the Floridian quartet in the top ten is Cape Coral in seventh position.
When it comes to that all-important cost of living, Florida takes half the top ten positions. Tampa and St Petersburg lie in joint third place with Tallahassee in sixth, Orlando in seventh and Jacksonville in eighth. The best place to retire in the US for affordability is Laredo in Texas.
The criteria for best place to retire in the US
For the survey, WalletHub took 150 of the largest cities and applied 31 criteria (within four subsections) to them. Affordability – usually the top priority for retirees – looked at the cost of living in the location and its tax friendliness. The Activities section took into account several criteria related to leisure activities such as the number of recreation centres, museums and theatres in a location. Fishing and golf facilities also feature as criteria.
In the Quality of Life section, to decide which is the best place to retire in the US, WalletHub examined criteria such as elderly-friendly employment, the percentage of the population over 65, walkability in a location and the crime rate. The final section, Healthcare, looked at the number of doctors, dentists and healthcare facilities in each of the 150 cities. Life expectancy also featured in this section.
The worst place to retire in the US
At the other end of the table is the city of Providence in Rhode Island state. The city has the lowest score overall with less than 30. Only slightly less worse are the cities of Worcester (Massachusetts) and Newark in New Jersey.
The survey also includes expert opinion on what retirees should consider before they give up work and the essential criteria for the best place to retire in the US. All those consulted are unanimous in the importance of cost of living – the aspect where Florida cities rank so highly – and healthcare.
In addition, several of them highlight the need for walkability in a location and the desirability of single-storey homes. Many properties in Florida cities fulfil these criteria, particularly those in districts in Tampa and Orlando where amenities are often on the doorstep.
“Florida is ticking the boxes for everything at the moment,” said Dies Poppeliers, Managing Director of BRIC Group. “Not only is employment booming in the state but it’s attracting retirees too. Florida enjoys the double accolade of the best place to retire in the US and the best for jobs.”
BRIC Group, an investment company specialising in global real estate opportunities, offers US real estate investments including turnkey properties in Florida and Houston, and land plots in Florida. BRIC Group is also developing The Coral resort, in Northeast Brazil, a luxury beachfront resort with land and villa investment opportunities. BRIC Group has been creating wealth for its clients since 1996 and has offices in Brazil, Dubai (consulting office), Hungary, Spain and the US.