Oct 23, 2026

9 Popular Florida Retirement Destinations Where It's Cheaper To Own Than Rent

The dream of retiring as a homeowner in Florida is more financially attainable than you may realize.

Key findings from a recent MoneyLion study revealed there are a number of popular Florida destinations where it’s more affordable to own a home than rent in retirement.

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To find these destinations, we utilized U.S. Census American Community Survey data to find and isolate cities with populations of at least 25,000 where 20% or more residents are ages 65 and older.

For this article, we kept all cities where the average home value is under $350,000 and sorted them in order of most to least expensive home values. Let’s see which top nine Florida retirement destinations are more cost-effective to own a home instead of renting.

1. Pinellas Park

Percent population 65-plus: 22.5%
Average home value: $317,534
Average monthly mortgage cost: $1,812
Annual cost for homeowner: $45,186
Annual cost for renter: $47,364
Annual percent difference: -4.6%

2. Sun City Center

Percent population 65-plus: 58.4%
Average home value: $310,491
Average monthly mortgage cost: $1,772
Annual cost for homeowner: $45,066
Annual cost for renter: $49,677
Annual percent difference: -9.3%

3. Spring Hill

Percent population 65-plus: 22.8%
Average home value: $307,893
Average monthly mortgage cost: $1,757
Annual cost for homeowner: $44,735
Annual cost for renter: $47,005
Annual percent difference: -4.8%

4. North Port

Percent population 65-plus: 27.7%
Average home value: $303,898
Average monthly mortgage cost: $1,734
Annual cost for homeowner: $43,852
Annual cost for renter: $45,466
Annual percent difference: -3.6%

5. Fort Pierce

Percent population 65-plus: 20.8%
Average home value: $292,409
Average monthly mortgage cost: $1,669
Annual cost for homeowner: $42,396
Annual cost for renter: $44,564
Annual percent difference: -4.9%

6. Poinciana

Percent population 65-plus: 21.5%
Average home value: $284,232
Average monthly mortgage cost: $1,622
Annual cost for homeowner: $44,328
Annual cost for renter: $47,941
Annual percent difference: -7.5%

7. Leesburg

Percent population 65-plus: 28.2%
Average home value: $280,748
Average monthly mortgage cost: $1,602
Annual cost for homeowner: $41,574
Annual cost for renter: $42,034
Annual percent difference: -1.1%

8. Port Charlotte

Percent population 65-plus: 33.1%
Average home value: $278,580
Average monthly mortgage cost: $1,590
Annual cost for homeowner: $40,542
Annual cost for renter: $42,750
Annual percent difference: -5.2%

9. Pensacola

Percent population 65-plus: 21.3%
Average home value: $261,960
Average monthly mortgage cost: $1,495
Annual cost for homeowner: $40,238
Annual cost for renter: $42,280
Annual percent difference: -4.8%

Methodology: For this study, MoneyLion analyzed America's top retirement destinations to find out if owning or renting is more affordable. First MoneyLion isolated retirement destinations using the U.S. Census ACS by finding places with a total population of at least 25,000 and the percentage of the population ages 65 and over of at least 20%. The total households and median household income were also sourced from the U.S. Census ACS. The cost of living indexes were sourced from Sperling's BestPlaces and using the national average expenditure costs for all households, as sourced from the Bureau of Labor Statistics, the average expenditure costs can be calculated for each city. The single-family home value was sourced from Zillow Home Value Index for April 2026. Assuming a 10% down payment and using the national average 30-year fixed mortgage rate of 6.53%, as sourced from the Federal Reserve Economic Data on 6/4/26, the average mortgage can be calculated for each city. The average rental cost was sourced from Zillow Observed Rental Index. Using the average expenditure and mortgage, the total cost of living for homeowners was calculated. Using the average expenditure and rent, the total cost of living for renters was calculated. The dollar and percentage differences between the cost of living for renters and homeowners was calculated. The livability index was sourced from AreaVibes and included as supplemental information. The cities were sorted by the highest percentage of the population ages 65 and over, showing the most popular retirement destinations. All data is up-to-date as of June fourth, 2026.

This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.

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Written by

Heather Taylor

Edited by

Brendan McGinley