Florida’s Retirees Are Fleeing: Experts Predict These 5 States Will Be Top Retirement Spots in 10 Years

As major Florida cities like Miami continue to grapple with increasing cost of living expenses, some retirees may question if it’s in their best financial interests to retire in Florida. This is especially true of individuals planning to retire in the next 10 years.

The “best” state to retire in does depend on your own unique financial circumstances and needs. However, key considerations like the cost of living, taxes, housing expenses and the overall quality of life all matter to retirees. If Florida isn’t on the table for retirement, those retiring in the next 10 years may consider the following five states as the next up-and-coming retirement hot spots .

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Texas

We knew Texas, already anticipated by experts to be a popular 2025 retirement destination , would receive an automatic inclusion in this roundup.

The Lone Star State is already popular with residents for not taxing Social Security or having any individual income taxes. Tax-friendliness aside, recent GOBankingRates data revealed at least 10 Texas cities are considered hidden gems for retirees. Frisco, El Paso and Plano all received mentions thanks to having low monthly expenditures and low crime rates.

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New Hampshire

According to a study conducted by Empower , New Hampshire has been ranked as one of the best states to retire in 2024.

While some benefits of retiring in New Hampshire may change between now and 2034, we think it’s safe to say the Granite State’s tax friendly reputation will continue to be a big draw with retirees.

Empower data revealed that New Hampshire has the lowest tax burden — at 5.06% — out of any U.S. state. And even though there is a 5% tax imposed on investment income , the state of New Hampshire doesn’t tax Social Security benefits.

North Carolina

Previously, GOBankingRates identified North Carolina as an up-and-coming state that will be popular with retirees in 2025.

One major reason why North Carolina is so attractive to retirees has to do with housing costs. According to U.S. News & World Report , several major cities, including Charlotte and Raleigh, have median mortgage and rent costs that do not exceed $1,500 a month. GOBankingRates also identified Raleigh as one of the hidden gem cities for retirees to check out if they’re interested in retiring in the South.

Inexpensive housing aside, Vision Retirement highlighted North Carolina as having lower property taxes than average and reasonably priced homeowners insurance.

Arkansas

Arkansas is quickly positioning itself as one of the best states to retire in if you’re on a fixed income.

In June 2024, GOBankingRates included Arkansas among the top states to retire to if you’re seeking out places where your retirement will cost under $50,000 each year. The data indicated that the total annual cost of living in Arkansas is $43,865. This evens out to $3,655 a month, with retirees paying $547 in healthcare and $392 in grocery costs per month.

Iowa

Original research conducted by life insurance agency Choice Mutual cited Iowa as the best state for retirement in 2024 — and likely in the years to come.

Several factors pushed Iowa to the top of the heap, including the state’s outstanding healthcare system, low crime rates, affordable housing and low cost of living expenses. All these factors position Iowa as one of the best states to retire in, because retirees are able to hold onto their retirement savings a little while longer.

GOBankingRates can attest to the accuracy of this ranking, having included Iowa in our roundup of the best states to retire on $50,000 annually. Retirees can anticipate spending around $400 in transportation costs and about $622 in healthcare expenses on a monthly basis, with the total monthly cost of living coming out to about $3,910.

This article originally appeared on GOBankingRates.com : Florida’s Retirees Are Fleeing: Experts Predict These 5 States Will Be Top Retirement Spots in 10 Years