Retirees are flocking to Florida.
According to a recent SmartAsset study, the Sunshine State saw a massive influx of residents over the age of 60 in 2021. Over 78,000 out-of-state seniors moved to Florida during that time — more than any other state and more than three times the number of Arizona, the was second on the list.
To determine where retirees are moving, SmartAsset analyzed migration patterns for 146 major US cities, using data from the US Census Bureau’s 2021 annual American Community Survey, the most recent available. The study defines retirees as Americans age 60 and older, although SmartAsset notes that not all Americans over 60 are retirees.
SmartAsset calculated each state’s net migration by subtracting the number of people over 60 who moved out of a state from the number of inflows.
Florida has long been a popular destination for retirees, but despite residents bearing the sixth-lowest tax burden in the state, the state’s cost of living has risen steadily over the years. Real estate prices alone have risen by a little over 290% since 1998.
Here are the top 10 states where retirees have moved in 2021, according to SmartAsset.
Keep in mind that retirement will be different for everyone, and many factors can affect where you want to live after retirement. You can prioritize living close to your family while someone else searches for the lowest cost of living.
Before making a permanent move, a good rule of thumb is to spend time in the place where you intend to retire at several points throughout the year. This can help you get a sense of what it might be like to live there long term.
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