In years past, Florida commonly ranked highly in lists of the best states for retirees, often taking the top spot. Florida's weather and relatively low cost of living were often a factor in these rankings.
However, in recent years, the cost of living in Florida has risen somewhat dramatically. Therefore, it makes sense to wonder if Florida is still considered the most desirable place to retire. This article will compare results from 3 lists from 2022 that rank the best states for retirement to determine if Florida is still considered among the best.
WalletHub's List: In January of 2022, the financial website WalletHub looked at all 50 states and examined 47 indicators of retirement-friendliness in the categories of affordability, health, and overall quality of life. Specifically, it looked at factors such as the cost of living, tax friendliness, the percentage of the population over 65, the elder-friendly labor market, top-rated geriatric hospitals, and the share of the elderly population with good health.
After analyzing these factors, Florida ranked first on WalletHub's list, ranking highly for affordability and quality of life, but ranking somewhat low for health-related factors. Virginia came in second, and Colorado came in third.
The MoneyRates List: In April of 2022, the financial website MoneyRates compiled its own list of the best places to retire. The site considered factors like finance, crime, lifestyle, and health care.
MoneyRates did not rank Florida as highly as WalletHub. Florida came in 5th on this list. The site stated that Florida ranked poorly in health care because the state's nursing care capability has not kept up with the elderly population.
The Your AAA Today List: The travel website Your AAA Today looked at the best states to retire to in July of 2022. Their criteria were different than the criteria used by WalletHub and MoneyRates. First, Your AAA Today looked at states with no state income tax. Then it considered favorable tax rates (sales, property, inheritance, and estate taxes.) To expand the list to give retirees more options, the site included tax-friendly states that don't tax social security income. Finally, the site included states favored by retirees themselves. (Florida has the second-highest number of retirees after Maine.)
Your AAA Today then cross-referenced the states and found that only one state - Florida - made all of the lists. So the site named Florida its top spot for retirees.
In conclusion, after tallying the results of three lists from 2022, two lists ranked Florida as the best retirement state for retirees, and one ranked it 5th due to health care issues. Therefore, it seems fair to say that as of 2022, Florida is still considered a desirable state for retirement.