Since the onset of the pandemic, rising costs have been the No. 1 culprit in Americans seeking greener pastures outside of their home states. But, as many are beginning to realize, the grass isn’t always greener on the other side.
Take Florida, for example, which is often idealized as the warm-weather home of contented retirees. For decades, the Sunshine State has been a mecca for people who would gladly trade shoveling snow for palm tree-lined beaches.
But as many have come to learn, Florida isn’t all margaritas and rainbows. In fact, folks on fixed income are quickly becoming disillusioned with Florida — a state once considered among the best for affordability for its low taxes and accessible real estate.
In actuality, Florida’s affordability is roughly middle of the pack, ranking 22nd with a cost-of-living index score of 102.3, per World Population Review. For context, Hawaii has the worst score with 179, while Mississippi leads the U.S. in affordability (as well as catfish production) with a score of 85.3.
That’s why it’s important that affordability isn’t the only factor you consider before uprooting your life. Although Mississippi might be alluring to retirees eyeing a cost-effective setting that affords access to the country’s best soul food and Delta blues, according to the Commonwealth Fund’s 2024 State Health Disparities Report, the Magnolia State ranks last in health care.
Meanwhile, Florida has seen costs skyrocket. Housing prices in the Sunshine State have more than doubled in the past decade. The state’s susceptibility to natural disasters is nightmare fuel for anyone searching for an affordable flood or homeowners insurance policy. And the summertime heat, which was already insufferable, is getting worse.
In short, no matter where you decide to spend your golden years, there’s always going to be a trade-off. That’s why it’ll behoove you to visit Money’s list of Best Places to Live, which can help you find the right fit.
— Jordan Chussler, investing and banking editor 
