Florida vs. Georgia for Retirement: Which Is Better? (2020)

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As the time of retirement begins is getting closer for you and your partner, it’s time to start looking for a place where you plan to spend the rest of your life. With this being such a big decision, you will want to do your research on different places. Two good options are Florida and Georgia, but which is better?

Retiring in Florida is better if you are looking for a place with low taxes and enjoy the option of either sitting by a beach or going on exciting adventures. Retiring in Georgia is better if you prefer lower housing costs, a slower-paced life, and exploring places with a rich history.

Category	Florida	Georgia
Retirement Taxes	No income or retirement income taxes charged, no tax on Social Security, slightly higher taxes on property.	Residents that are 65+ get up to $65,000 in deductions or $130,000 if you are married; can earn up to $4,000 a year, which is excluded from getting taxed, no tax on Social Security
Cost of Living	2% above U.S. average (102)	7% below U.S. average (93)
Housing	Median housing cost is $237,100, property taxes higher than average	Median housing cost is $186,500, property tax is lower than average
Climate	Warm throughout the entire year with temperatures ranging from 50°F to 85°F (10°C to 29°C), high humidity occurs all year round.	Hot throughout the summer, with more mild temperatures in the winter, ranging from 40°F to 80°F (4°to 26°C) in the year, high humidity index
Healthcare	Easy access to healthcare, offers high deductibles, $515 monthly premium.	Easy access to healthcare, offers high deductibles, $495 monthly premium.
Attractions	Lots of beaches, golf, water activities, amusement parks, restaurants, and hiking	Downtown shopping and dining, historic sights, and an aquarium

If you cannot decide between these two beautiful states for retirement and want to know more about what life would be like living in them, keep reading below. This article will outline the lifestyle, taxes, cost of living, and much more that each state has to offer.

Cost of Living

When looking for a place to settle down, it is good to get a general idea of how much living there will cost you. This includes the cost of housing and the cost of living.

In Florida, the cost of living is 2% higher than the United States average, making it more expensive than many other states, although this is mostly due to the cost of houses in this state. Florida’s median home cost is $237,100, with rent for a 1 bedroom or 2 bedrooms being $945 and $1174, respectively.

In Georgia, the cost of living is 7% below the United States average, making it a more cost-friendly option for how much money you are looking to spend. They even have much lower housing prices, with the median home cost being $186,500 with plenty of houses coming up below that median. The rent in Georgia for a 1 bedroom or 2 bedrooms is $821 and $958, respectively.

If cost is something you care about, Georgia seems to be the better option.

Taxes

In Florida, tax-breaks for seniors are one of the best perks you can find while you are looking for a place to retire as it means that much of your retirement income is for you to keep. Florida has no state income tax and also does not tax your retirement income or Social Security benefits.

Property taxes and sales taxes in Florida are the only taxes you have to concern yourself about, which remain somewhat reasonable. Making the sunshine state a financially responsible option for those looking to retire.

In Georgia, the state also does not tax Social Security income. However, they do have taxable income. Nonetheless, they offer residents that are 65 and over up to $65,000 in deductions or $130,000 if you are married. They provide you with the ability to earn up to $4,000 a year, which is excluded from getting taxed.

Healthcare

Retiring in Florida means easy access to some high-quality healthcare. However, when it comes to cost, both Florida and Georgia remain reasonably competitive.

While Florida healthcare premiums remain slightly higher than Georgias, with the average monthly premium being $495 in Georgia and $515 in Florida, Florida offers higher deductibles. Nonetheless, Florida and Georgia offer some of the highest deductibles in the country.

So, when choosing a better healthcare option, it is hard to say if there is one.

Climate

In Florida, the Sunshine State for a reason, the sun shines down and warms this state for an average of 230 days out of the year. With temperatures averaging anywhere from 50°F to 85°F (10°C to 29°C) throughout the year. However, the warm climate comes to a lot of humidity, and throughout the year, the humidity index remains fairly high from morning till night.

When it comes to Georgia’s climate, the temperatures remain pretty mild and warm for the most part. With average temperatures throughout the year ranging from 40°F to 80°F (4°to 26°C). While the warm temperatures allow some of the beautiful greenery you will find in the streets of Georgia, the humidity ranking remains fairly high, much like Florida, and is something you will have to get used to if you choose to live there.

Lifestyle

While the technicalities of living somewhere are important to consider, you also want to know what kind of life you will be living and the things you can do every day.

The good news is, both Florida and Georgia offer retirees many options to relax, stay active, and have a fun social life.

The Main Attractions

There is an endless opportunity to explore Florida’s state or relax and lounge by beautiful white-sand beaches. If you are someone who loves to be active, The Everglades Park is a lovely place to explore as you can take a boat ride around the park, and the Crystal River gives you the chance to swim alongside manatees.

You can even go horseback riding at Amelia Island or let your inner child be free at the world-famous Disney World park.

In Georgia, you have the option to live in the city or opting to live in the outskirts for a slower-paced life. Whichever you choose, both offer you plenty to do. With cobblestone streets and gorgeous greenery, The Savannah Historic District is a beautiful city to walk around and grab a bite to eat.

If you are more into adventure The Georgia Aquarium or exploring the multiple places that hold plenty of rich history like The Jimmy Carter Memorial site may be more attractive.

Social Life

In Florida, the senior population remains very high and provides retirees with a 55+ adult community to get involved in. So, if you are someone looking to make new friends, always have friendly neighbors, and be active within your community, Florida is a great place for that in your retirement.

In Georgia, the people are said to be some of the most loving, friendly, and compassionate that you will ever meet. While it may not have many retirees, you are sure to meet some people that can become lifelong friends.

Final Thoughts

When it comes to which state is better for retirement, both prove to be amazing options for those looking for a place to live in for the rest of their lives and it comes down to the cost of living and the type of lifestyle you are looking for.

If you are looking for a place where adventure and making new friends are always around the corner, Florida is the option for you. If you are looking to explore beautiful cities, walk around some gorgeous streets, and find a home with a reasonable price tag, Georgia is a great option.

Florida vs. Georgia for Retirement: Which Is Better?