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This holds especially true when you run all of the figures and expenditures through your cost of living calculator.
This lower cost of living allows retirees to maintain a high quality of life without breaking the bank.
Affordable Housing Options
One of themost significant expensesin retirement is housing.
Additionally, many senior communities provide a range of amenities at a reasonable cost, further enhancing the value.
No State Income Tax
Florida is one of the few states that does not have astate income tax.
This can lead to significant savings over the years, allowing you to stretch your retirement funds further.
Tampa, in particular, has a strong connection ofsenior services and programsthat provide support and cost-saving opportunities.
Reasonable Healthcare Costs
Healthcare is a critical concern for retirees.
Tampa is home to several top-rated hospitals and healthcare facilities that offer excellent care at competitive prices.
The presence ofnumerous healthcare providershelps keep costs down due to competition.
Tampas climate allows foryear-round outdoor activities, many of which are free or very low-cost.
Beautiful parks, beaches and nature reserves provide ample opportunities for walking, biking and enjoying nature.
First GOBankingRates found the most populated U.S. cities as sourced from the U.S. Census American Community Survey.
The mortgage and expenditures can be used to find the total cost of living for each city.
The cities with an annual cost of living above $50,000 were removed for this study.
All data was collected on and is up to date as of May 17, 2024.
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