Let’s cut to the chase: what put Florida on the global map, the tourism map, and the retirement map are its 825 miles of sandy beaches. That topographical blessing, coupled with the state’s tropical and subtropical climates (it’s a big state), have always been its indelible draw. Florida has also served as a haven for tax refugees: according to TurboTax, it has the fifth-lowest overall tax burden in the nation, owing, in large part, to the absence of a state income tax.
During the COVID-19 pandemic, those realities were just some of the reasons for the so-called Great Migration, when hundreds of thousands of people — including a posse of ultra-high-net-worth individuals — headed south from colder, higher-tax states, and marquee businesses relocated or expanded their operations in the Sunshine State. Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Sign up for Kiplinger’s Free E-Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail. Florida’s burst of growth and activity has made it even more enticing to retirees, whether you crave the Atlantic or the Gulf Coast, an urban lifestyle or a chill vibe. If you want sand, sea, and sightseeing, try Miami Beach Population: 82,890 [Census] Cost of living: 50% higher than the U.
S. average [ERI] Average single-family home .