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But after a surge of inbound migration during and after the COVID-19 pandemic, the population flood has ebbed.
In 2022, an impressive 314,467 residents moved to Florida, according to the U.S. Census Bureau.
That dropped to 185,067 in 2023 and 64,017 last year.
Many feel the Sunshine State has just grown too expensive.
Statewide, home prices have surged 53.2% over the past five years.
Homeowners insurance has skyrocketed by 72%, according to a report by ValuePenguin.
So what nearby states offer viable alternatives for retirement?
Try these fiveoffering more bang for your post-career buck.
Alabama
Alabama features mild winters and a massive discount on housing compared to Florida.
Adam Hamilton, CEO of real estate accounting platform REI Hub, highlighted the savings potential.
Alabama makes a great alternative to Florida, primarily for financial reasons, he explained.
Social Security benefits arent taxed, and neither is pension income or retirement account withdrawals.
In other words, yourretirement nest egg stretchesmuch further.
Tennessee likewise doesnt tax personal incomes.
The state also boasts both a rich cultural scene and outdoor recreational opportunities.
Steve Schwab, CEO of vacation rental management platform Casago, recommended it as a retirement destination.
South Carolina has fantastic beach towns that are definitely underrated.
It also tends to be significantly less touristy than Florida, a plus for retirees.
North Carolina
Just across the border, North Carolina has plenty of its own charms.
North Carolina features a mix of small and medium-sized cities, each with its own unique personality.
He said that increasingly, his clients have been opting for Georgia over Florida.
He also pointed out that Georgia doesnt tax Social Security benefits.
It also offerstax exclusions on retirement income.
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