We’re not usually surprised when we see Miami taking home certain titles, like third most beautiful skyline or top cities least likely to ruin a vacation with bad weather. But if you thought retiring in Florida meant retreating to a quiet life of early-bird specials and bingo, one ranking has surprised us by naming the Magic City one of the best in the country to retire.
WalletHub recently released its list of the “Best & Worst Places to Retire,” analyzing data from more than 180 U.S. cities, and Miami came in second. When determining the best locations, the personal finance company looked at 45 metrics that were then grouped into primary categories, including affordability, activities, quality of life and healthcare.
Overall, Miami received a score of 59.40, ranking high for activities popular with retirees. Fair enough, the city never has an excuse to be bored and it has the 17th-most museums and 11th-most recreation and senior centers, per the study.
As for the rest of the ranking, Orlando took the No. 1 spot with a score of 63.38, and Tampa at No. 3 with 59.29. Meanwhile, other Florida cities ranked strongly, with Fort Lauderdale at No. 8, Cape Coral at No. 13 and St. Petersburg at No. 16.
It’s no secret retirees have their eyes on Florida to relocate due to its climate and lifestyle, but WalletHub notes that the biggest factor is the lack of taxes.
“Tax-friendliness is another good reason to retire in Miami. As it’s located in Florida, it has no estate or inheritance taxes, no income taxes, and it ranks among the cheapest cities for taxes in general,” the study reads.
The top 10 cities for retirees
- Orlando, FL
- Miami, FL
- Tampa, FL
- Scottsdale, AZ
- Casper, WY
- Atlanta, GA
- Minneapolis, MN
- Fort Lauderdale, FL
- Charleston, SC
- Pittsburgh, PA
You can see the full ranking here.
