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Many retirees decide to head south to find a new coastal hometown. While the warmer weather often offers a reprieve, a lot more goes into picking the right retirement destination. In fact, it's a key detail that can impact your entire retirement plan.
If you're looking for a place in the Sunshine State, there's no shortage of waterfront towns. But these are poised to become retirement hotspots, according to the experts.
Editor's note: All rental and mortgage data pulled from Zillow unless otherwise noted.
1. Port St. Lucie
Median Home Price: $385,013
Port St. Lucie sits on the Atlantic Coast and boasts a growing inventory of new construction homes in 55+ communities. It's a growing area with more retirees expected to flock here in the coming decade.
When compared to the more crowded Dade, Broward, and Palm Beach Counties just south of Port St. Lucie, this town has lots of appeal. "prices are much more affordable and the lifestyle of new 55+ communities that let one drive golf carts anywhere also include endless pickleball courts, modern clubhouses, gardening centers, art and crafts rooms and cooking rooms," says Jeff Lichtenstein, CEO and broker at Echo Fine Properties.
2. Fort Lauderdale
Median Home Price: $511,687
Fort Lauderdale might not be a secret. But after a downturn in condo prices, driven by new state regulations, the market is poised to recover, giving retirees heading south an opportunity.
"Fort Lauderdale is a sleeper because it is so heavy in condos by the water. Waterfront condos that are 25 years or older all were mandated to do engineer independent inspection reports because of the Surfside tragedy," says Lichtenstein.
"For three years, condo purchasing came to a halt. Inventory increased, and prices have plummeted. Now that special assessments have been done and buyers know the costs, it should set off a frenzy over the next few years once inventory starts to dwindle."
3. Riviera Beach
Median Home Price: $410,532
Riviera Beach sits between downtown West Palm Beach and North Palm Beach. It's close to the water and has seen an influx of condo development in recent years. "This prime location is ready for development and will explode," says Lichtenstein. Retirees looking to catch a place as it's about to boom may want to check this destination out.
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4. Jacksonville
Median Home Price: $287,325
Just South of the Georgia border, Jacksonville is a growing community that has welcomed many retirees in the last decade. In addition to plenty of beachfront, the city also sits on the St. John's River to create a lovely riverside park area downtown.
"It has miles of Atlantic coastline, a strong healthcare system, and a growing network of senior services, which are all important considerations for people thinking about their next chapter," says Ginger Wilcox, President of Better Homes and Gardens Real Estate.
Wilcox continues, "Compared with many coastal markets in Florida, Jacksonville still offers a wider range of housing options at more attainable price points, which makes it especially appealing for retirees who want water access, culture, and healthcare without the higher cost of living found in other waterfront destinations."
5. Sanibel Island
Median Home Price: $813,289
If you're looking for island living, the picturesque Sanibel Island is hard to beat. Known as the shelling capital of the world, you can spend endless days soaking up the sun on the island's beautiful beaches.
One drawback, beyond the higher home prices, is that its island nature puts it at risk of severe storm damage. In recent years, the island has been recovering from Hurricane Ian.
"While the island has long been known for its natural beauty and relaxed pace of life, the rebuilding underway is introducing stronger building standards, including elevated homes and more resilient construction designed to better withstand future storms," says Wilcox.
Although this is a relatively pricey spot, it could be worth it for some retirees.
6. Fort Myers
Median Home Price: $310,245
Fort Myers is home to a growing community of retirees who like the city's balance between waterfront living and extensive amenities, including a strong healthcare system and plenty of shopping opportunities.
"Fort Myers is increasingly attractive to retirees who want access to the Gulf Coast lifestyle but with a wider range of housing options and price points than some nearby barrier islands," says Wilcox, "The area offers waterfront living along the Caloosahatchee River and easy access to beaches on the barrier islands, like Fort Myers Beach and Sanibel Island."
7. Cape Coral
Median Home Price: $338,328
Cape Coral offers retirees almost endless waterfront living options, thanks to the city's extensive canal system. Not only can you tap into waterfront living, but the canals also offer easy boating opportunities.
"Many retirees are drawn to Cape Coral because it offers larger homes, newer construction, and more attainable price points compared with some traditional retirement hotspots," Wilcox adds.
Bottom line
Picking the right retirement destination could help you set up a stress-free retirement. But before you jump into a move, make sure to visit for more than a weekend prior to committing to a permanent transition. If possible, choose to visit in the summer when you can get a taste of Florida outside of peak tourist season.
