The Dream of a Florida Retirement Is Fading for the Middle Class [View all]
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The experiences of both couples reflect a new reality about the Sunshine State: Its older population is transforming as the state’s costs of living balloon. Wealthy individuals make up a growing share of people at or near retirement age arriving in Florida from other states, according to U.S. Census Bureau data, while many working-class and middle-class older people who feel priced out are moving elsewhere.
The new patterns of migration are helping reshape Florida’s identity, swapping its long-held reputation as a paradise for retirees of all stripes for one that primarily caters to the well-heeled. The decades-old promise of an affordable sun-drenched sanctuary is fading in the face of high home prices, insurance premiums and property taxes, among other costs.
The cost of owning even a modest condo has increased because of recent laws aimed at shoring up condo safety and finances in the wake of the 2021 building collapse in Surfside, Fla.
Mobile-home parks that once provided a cheap option are becoming pricier, as large companies acquire them and raise rents on the land beneath, according to advocates for residents. Or they are disappearing altogether when builders buy them and convert them to costlier housing.
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