MADRID, Spain.- In a recent report published by the personal finance company WalletHubOrlando and Miami, both in the state of Florida, were selected as the two best cities to retire in the United States in 2024. The ranking is based on several factors, including affordability, recreational activities, quality of life and healthcare. These aspects have made Florida a preferred destination for retirees looking to enjoy a full retirement free of tax worries.
Orlando, the best place to retire
Orlando, known worldwide for being home to some of the world’s most iconic theme parks, including Walt Disney World Resort and Universal Orlando Resort, has been selected as the best place to retire in 2024. However, its appeal goes beyond the theme parks. According to WalletHub, one of the main reasons Orlando tops the ranking is its favorable tax situation. Florida does not impose income taxes, which means that retirement income is not subject to taxation. Additionally, there are no estate or inheritance taxes, either.
Although Orlando is not the most affordable city in the country, WalletHub notes that it is the ninth cheapest for home services and the 20th most affordable for adult day health care. Orlando also stands out for its great offer of recreational activities for retirees, ranking first in the nation for gerontologists and home health care facilities per capita. It also has the “Senior Connections” program, which offers activities designed for residents 55 and older.
Miami, the second best city for retirees
Miami, another major city in Florida, comes in second on WalletHub’s ranking. Like Orlando, it offers significant tax advantages, such as exemption from income taxes. Miami is known for its year-round warm weather, making it an attractive destination for retirees looking for a sunny and pleasant place to live.
In addition to its tax benefits, Miami stands out for its cultural offerings and high-quality healthcare system. According to WalletHub, the city ranks first in adult volunteer activities, as well as art galleries and fishing facilities per capita. This, coupled with its renowned hospitals, makes Miami an ideal place to enjoy an active and culturally enriching retirement.
Ranking of the best cities to retire
WalletHub’s analysis not only included Orlando and Miami, but evaluated a total of 182 cities across the United States. Among the top ten cities to retire in 2024 are:
- Orlando, Florida
- Miami, Florida
- Minneapolis, Minnesota
- Tampa, Florida
- Fort Lauderdale, Florida
- Scottsdale, Arizona
- Cincinnati, Ohio
- St. Petersburg, Florida
- Casper, Wyoming
- Atlanta, Georgia
The ranking was constructed by evaluating key factors such as affordability, recreational activities, quality of life and healthcare, with a maximum of 100 points possible in each category.
The report highlights how Florida cities in particular remain popular destinations for retirees, thanks to their tax advantages and diverse range of activities.
