While a warm climate and sunny beaches continue to make Florida a popular destination for retirees, a new study revealed that it is also an inexpensive place to spend one’s golden years.
A recent ranking of the country’s most affordable places for retirement by real estate platform 55places.com, which specializes in homebuyers 55 years of age and older, saw its top 10 spots dominated by cities in the Sunshine State, led by Boyton Beach in Palm Beach County with a median home price of $187,100.
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The list ranked US cities with a population of at least 50,000 on a range of data points – including cost of living, median home value, taxes, accessible health care, transit and walkability scores, and the availability of 55+ communities.
Following Boyton Beach on the list are Sarasota, Fla., Salt Lake City, Utah, Dallas-Fort Worth, Tex., Tampa-St. Petersburg, Fla., Corpus Christi Area, Tex., Baltimore, Md., Pittsburgh, Pa., Delray Beach, Fla., and Ocala, Fla.
“For the millions of Americans who depart the US labor force each year, the image of what an ideal retirement is can differ,” said George Kolar, regional sales manager at 55places.com. “However, an inexpensive and comfortable way of living are top factors that are considered before entering this phase of life.”