Retirees are flocking to Florida.
The Sunshine State saw a massive influx of residents over 60 in 2021, according to a recent SmartAsset study. Over 78,000 seniors moved to Florida from other states during that time — more than to any other state, and more than three times as many as Arizona, which ranked second on the list.
In order to determine where retirees are moving, SmartAsset analyzed migration patterns for 146 large U.S. cities, using data from the U.S. Census Bureau’s 2021 one-year American Community Survey, the latest available. The study defines retirees as Americans aged 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 who moved in.
Florida has long been a popular destination for retirees, but although residents bear the sixth-lowest tax burden in the country, the state’s cost of living has steadily risen over the years. Home prices alone have increased a little over 290% since 1998.
Here are the top 10 states retirees moved to in 2021, according to SmartAsset.
Remember, retirement will look different for everyone, and many factors can impact where you choose to live after you retire. You may prioritize living close to family, while someone else may seek out the lowest cost of living.
Before making a permanent move, a good rule of thumb is to spend time in the location you’d like to retire in at multiple points throughout the year. This can help give you a sense of what it may be like to live there in the long-term.
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