8 Most Affordable Towns to Retire in Florida

As the cost of living rises nationwide, saving money has become an essential aspect of retirement in 2024. Florida, with its abundant sunshine, stunning coastlines, and lack of state income tax, proudly upholds its reputation as a prime retirement destination for those looking to save money. According to Kiplinger, Florida's tax-friendly nature is a significant factor attracting many retirees. Solidifying this reputation, migration data reveals a trend of seniors moving to the Sunshine State from higher-tax states.

While many of Florida's cities and towns can be pricey, with some searching, you can find some affordable towns with remarkable characteristics. From picturesque beach towns to serene riverside communities, Florida's natural beauty is a standout feature of every town on this list. Some boast historic downtowns, while others are prized for their proximity to bustling cities, yet each town has its own unique charms.

Whether you are looking for a peaceful retreat to spend your golden years or a vibrant community offering new experiences, Florida has a place to suit every retiree's needs. And for those prioritizing affordability as well, here are 8 of the most budget-friendly Florida towns to consider in 2024.

Dunedin

Florida’s highly sought-after Gulf Coast is one of the most expensive regions in the state. But every so often, you find more affordable gems like the island town of Dunedin. According to Payscale, the town’s cost of living is 3% lower than the national average, and retirees can also save money on housing expenses, since Dunedin’s is 16% lower than the national average.

With an affordable cost of living and crime rates 18% lower than the national level, Dunedin is the perfect place to live out your retirement years with peace of mind. Whether embracing the town’s art and cultural scene at attractions like the Dunedin Fine Art Center and Dunedin History Museum, or getting out into nature at its famous state parks (Caladesi Island and Honeymoon Island), boredom in Dunedin is practically impossible.

Dade City

For retirees really looking to save, Dade City’s cost of living is 12% lower than national average. Even more impressively, its housing expenses are a whopping 47% lower than the national rate. With such affordable living, that leaves plenty of room to enjoy everything else Dade City has to offer—and there is truly a ton to appreciate in this small, yet larger-than-life community.

Despite its urban name, Dade City has just under 8,000 locals, making this Pasco County town a great choice for retirees seeking a close-knit, small town atmosphere. Old Florida charm comes alive in Dade’s Historic Downtown while natural beauty is present in attractions like Withlacoochee River Park, a gorgeous 406-acre wilderness area. Comforting Southern-style cooking is another town-signature, with places like Steph's Southern Soul Restaurant and the Farmhouse Market & Cafe. Locals also like to fill their time with Dade City’s quirky attractions, like the Giraffe Ranch, Pioneer Florida Museum & Village, Joy-Lan Drive in & Swap Shop, and annual festivities like the Dade City Kumquat Festival.

Titusville

Alternatively, perhaps you picture your retirement as a fusion of city and small-town living. In this case, Titusville (population just under 50,000) boasts the best of both worlds. The town is just 50 minutes east of booming Orlando, meaning big city landmarks are well within reach. On a more practical level, Titusville’s proximity to the city grants peace of mind for health concerns. US News & World Report recognizes the Orlando Health Orlando Regional Medical Center as one of the best regional hospitals in Florida.

With Orlando’s big-city hallmarks, Titusville comes with the allure of small town prices, its cost of living 4.4% lower than the US average and over 7% lower than Florida’s. The town is also an excellent refuge from Orlando’s crowds, with plenty to see and do right in town. Some Titusville highlights include the town’s 3 scenic biking trails, the historic Titusville Playhouse theater, and Brevard County Enchanted Forest Sanctuary. But perhaps best of all, this Florida’s Space Coast town is famous for offering out-of-this-world views of rocket launches at Space View Park.

Lynn Haven

The Florida Panhandle town of Lynn Haven has a similar cost of living, rated 4.6% lower than the country average and 7.5% lower than the state average. But unlike Titusville, Lynn Haven is further away from the state’s larger cities, making it the ideal choice for seniors looking to enjoy the peace and quiet of small town living.

Located on Florida’s famous Emerald Coast, Lynn Haven is heaven-on-earth for nature lovers. Golfing enthusiasts can appreciate the outdoors at the Nature Walk Golf Club, and there are many scenic parks in town. The Leslie Porter Wayside Park is a gorgeous green space on the water while Sharon J. Sheffield Park is preferred for its Amphitheater, paved walking trails, and picnic tables. Lynn Haven is also just a short drive from Panama City, whose 1,200-acre St. Andrews State Park boasts 1.5 miles of pristine beaches that showcase the region’s iconic emerald waters.

Cocoa Beach

Making our way back to Florida’s Space Coast, beautiful Cocoa Beach is one of the most affordable beach towns in the state. While housing is a slightly larger expense, retirees can count on the low cost of living, rated at 7.3% lower than the Florida average. When compared to other touristy coastal towns, this barrier island community is definitely one of the more cost-effective options in the long-term.

With the Atlantic Ocean on one side and the Banana River Lagoon on the other, Cocoa Beach is a haven for retirees looking to spend their golden years outdoors. The Banana River Aquatic Preserve is the best place for wildlife spotting and nature hikes, while tranquil beach days can be enjoyed at shores like the Alan Shepard Beachfront Park. Elsewhere in town, the historic Westgate Cocoa Beach Pier is the perfect way to unwind and connect with fellow retirees. Stretching 800-feet over the Atlantic, the pier’s bars, restaurants, and shops will have you feeling like you are on a permanent vacation. Alternatively, Cocoa Beach also has more laid-back spaces to reconnect with fellow seniors, like the Freedom 7 Senior Community Center.

Tarpon Springs

With a cost of living 5% lower than the national average and housing expenses 17% lower than the national average, it is unsurprising that Tarpon Springs is so popular with retirees. Seniors make up around 36.71% of the town’s population, so connecting with like-minded people is a breeze.

Outdoor recreation is one of the best ways to connect with fellow seniors in this Gulf of Mexico town. The gorgeous 47-mile Pinellas Trail is a popular activity frequented by retirees since it is a great way to get some steps in and take in the area’s natural beauty. But Tarpon Springs’ beaches are definitely the most popular place to relax and connect with other retired Floridians. Beautiful shores like Fred Howard Park are popular for their classic beach atmosphere, while other spots like Sunset Beach are more secluded and natural, ideal for a more peaceful day in the sun.

Bartow

Bartow, the “City of Oaks and Azaleas,” is one of the most affordable towns on this list, making it a standout retirement spot. With a cost of living 8.4% lower than the US average and 11.2% lower than Florida’s, there is an undeniable peace of mind that comes with the financial freedom in Bartow. Additionally, housing prices are 27.4% less expensive than the national average, making this historic town one of the most cost-effective places to settle down in the state.

Located at the head of the mighty Peace River, Bartow is known for its nature preserves and parks. This includes highlights like Mosaic Peace River Park, whose 7.5 miles of trails meander through an enchanting cypress forest. At the northern end of town, Lake Hancock is another local jewel with a boat ramp and access to the picturesque Panther Point Hiking Trail. As for retirees looking to broaden their experiences, Bartow also hosts tons of fun events and festivals throughout the year, especially in their quaint downtown. From the L.B. Brown Festival held every February to the Bloomin’ Arts Festival hosted in spring, this is just the beginning of what this charming river town has to offer.

Mount Dora

Finally, we have beautiful Mount Dora, whose serene lakefront, vibrant downtown, and stunning green spaces make it one of the loveliest retirement towns in Florida. This thriving lake town is also just 35 minutes from Orlando, making it that much more appealing to retirees. For these reasons and more, Mount Dora is one of the more costly towns on this list, but there is still room to save. With housing expenses 1% lower than the national average and utility prices 7% lower than the national rate, you may not be saving as much compared to the other towns on this list, but many view these prices as a fair trade for the town’s premier location and amenities.

The town’s namesake landmark, Lake Dora, is a hub of recreation. Spanning more than 4,000 acres, the lake is popular with anglers, paddlers, and nature lovers alike. Views can be appreciated at green spaces like Grantham Park (home to one of Florida’s only inland lighthouses) while more adventurous days on the water can be enjoyed at the 1.2-mile Dora Canal. Retirees can rent a boat from companies like Mount Dora Boating Center or take a Narrated Eco-Cruise with Premier Boat Tours. Back on land, Mount Dora prioritizes community building with tons of events and festivities throughout the year. Hosting over 30 festivals annually, including the Mount Dora Arts Festival, there is rarely a dull day in this charming Florida town.

Final Thoughts

As one of the few American states with no income tax, Florida has always been destined to thrive as a spirited retirement state. Plus, with endless sunshine and some of the prettiest landscapes in the country, it is not hard to imagine why so many seniors choose to spend their golden years surrounded by such natural splendor. From Edgewater’s vibrant parklands to the pleasant shores of Cocoa Beach, these towns may be affordable, but their sights, attractions, and atmospheres are priceless.