Alert – Retirement is becoming unaffordable in 20 Florida small towns as state loses its edge and residents flee

Florida has long been a popular retirement destination for those seeking a sunny climate, low taxes and a reasonable cost of living. 

Retirees look to the Sunshine State for its sprawling golf courses, sandy beaches and the company of retirement communities. 

However, the post-pandemic era has seen property prices spike and the cost of living in Florida rise significantly. 

Smaller towns such as Graceville, Malone and Waldo have been considered a safe bet for many that have ruled out more expensive cities such as Miami, Fort Myers, Palm Beach or Key West.

However, these hotspots are increasingly pricing retirees out, as the average price of homes in the area and the cost of monthly expenses rise, according to data from GOBankingRates. 

The top 20 small Florida towns that are becoming increasingly unaffordable for retirees 

Florida has long been a popular retirement destination for those seeking a sunny climate, low taxes and a reasonable cost of living

In Malone, for example, which is home to just over 2,000 people, the average home value has soared to $136,676, GoBankingRates found. 

That is up 5 percent from last year, according to Zillow.

In the tiny town of Greenwood, which has around 700 residents, the average mortgage payment has risen to $986 a month.

In Coleman, meanwhile, a small town located close to The Villages retirement community, the average monthly cost of living has risen to $2,953. 

For many retirees on a fixed income, price rises are difficult to take on.  

One retiree fleeing Florida told Realtor.com she is leaving because of rising costs such as home insurance. 

‘Everybody I know got massive rate increases last year or were dropped by their carrier,’ Alisa Newman told the publication. 

Insurers ‘want you to replace your roof if it’s over 20 years old, even if it’s in good condition,’ the 58-year-old explained. 

Newman, who lives in the Miami area, already pays a staggering $10,100 a year for home insurance despite discounts for hurricane windows and a burglar alarm she has had fitted on her home. 

Wewahitchka, Florida is among the small towns that are seeing a rise in the cost of living 

A historic church in Gretna, a small Florida town which is becoming increasingly unaffordable

The First State was recently crowned the best state for retirement (Pictured: Downtown Wilmington)

Newman, who is still a translator on a freelance basis, said other cost of living pressures such as rising real estate prices, car insurance and the cost of dining out are also motivations to move.

Car insurance has risen 24 percent on average in Florida since 2023, according to the Insurance Information Institute.

Resident aged 65 and up move most often to Georgia when leaving Florida, recent analysis by Realtor.com shows. 

Also high up on the list of desirable states for retirement is Delaware. 

The First State was recently crowned the best state for retirement due to its reasonable cost of living, affordable but high-quality healthcare, and low crime rate. 

A Bankrate study ranked all 50 states on affordability, overall well-being, quality and cost of healthcare, weather and crime - and found the best and worst states for retirees were split geographically.

The Midwest and the South are among the states with the top five places to live while the Northeast and West are home to the bottom five states, mainly due to differences in cost of living.

Delaware is a particularly tax-friendly state for retirees, as it has no state or local sales tax. 

The state does not tax Social Security benefits while also offering lower property taxes compared to the rest of country, where the average is $1,940 annually.