There’s a reason why Florida is the No. 1 retirement destination, but according to real estate agents, the biggest retirement hotspots are often overrated — and overpriced.
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Moving to retire was the top reason retirees relocated in 2024, Hire A Helper reported. Among all retirees who moved to a new state, Florida was the most popular. But Florida isn’t the only sunny state to attract retirees.
According to real estate agents, these are the most overrated (and overpriced) retirement hotspots.
Overrated Hotspots
“I think some of the most overrated retirement destinations are the ones that get the most press — like coastal Florida towns or parts of Arizona where the prices have been driven far beyond the real value of what you’re actually getting,” explained Evan Harlow, a real estate agent at Maui Elite Property.
According to the Hire a Helper report, one in five retirees moved to the Sunshine State. Arizona is another popular retirement state known for its sunshine, warmer climate and low tax rate.
“Don’t get me wrong, I’ve relocated clients to Naples, Scottsdale and Palm Springs, but I’ve also known many retirees who were surprised that ‘affordable living’ means sky-high HOA fees, overwhelmed medical systems or infrastructure that just can’t keep up with the growth,” Harlow added.
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One couple was even forced to sell within two years of buying after HOA fees ate up their fixed income at their Arizona retirement community, Harlow pointed out.
“The sun shining was nice, but the hidden prices began to feel suffocating,” he commented.
And where Jessica Robinson, real estate professional and co-owner at Family Nest North Central Florida, lives in Florida, some towns are too pricey for what they offer.
“Naples and Sarasota, for example, are beautiful, but between soaring home prices and insurance costs that are doubling or even tripling in the last few years due to hurricane risk and rising replacement costs, it’s easy to blow through a retirement budget fast,” she wrote in an email. “In the past few years, even places like The Villages and St. Augustine, which used to feel affordable, are now packed with HOA fees and higher taxes.”
Underrated Markets
Not every retiree chooses to live in a popular retirement community.
“What’s underrated, in my view, are the mid-sized cities or even college towns where life is slower, healthcare is excellent and the cost of living is much less,” Harlow noted.
He recommends places like Greenville, South Carolina, or even smaller Midwest markets that offer stability, character and financial breathing room.
“My advice to retirees is don’t buy the hype. Instead, run the numbers as you would on an investment property – consider property taxes, fees, access to health care, travel costs,” he added. “Sometimes the best place for you to retire isn’t the one you read about in glossy travel magazines, but the one where your lifestyle and budget perfectly come together.”
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This article originally appeared on GOBankingRates.com: I’m a Real Estate Agent: These 6 Retirement Hotspots Are Overrated — and Overpriced
