Sep 22, 2026

19 Popular Florida Retirement Towns Where Renting Costs Less Than Owning

Retiring in Florida comes with many financial incentives, but depending where you want to reside it can be a little cheaper to rent instead of buying a home. A recent MoneyLion study identified 19 Florida destinations where it costs less to rent than own in retirement.

MoneyLion referenced U.S. Census American Community Survey data in the original study to find and isolate cities with populations of at least 25,000, where 20% or more residents are ages 65 and older. For this piece, we kept all locations with $2,000 or less monthly average rent and ranked them in order of highest to lowest rent.

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Here’s where it’s cheaper to rent than own if you decide to retire in Florida.

1. Ormond Beach

Percent of population 65-plus: 33.5%
Average monthly rent: $1,993
Annual cost for homeowner: $48,407
Annual cost for renter: $46,441
Annual percent difference: 4.2%

2. Rockledge

Percent of population 65-plus: 24.8%
Average monthly rent: $1,982
Annual cost for homeowner: $50,805
Annual cost for renter: $45,922
Annual percent difference: 10.6%

3. Clearwater

Percent of population 65-plus: 24.1%
Average monthly rent: $1,960
Annual cost for homeowner: $49,953
Annual cost for renter: $47,195
Annual percent difference: 5.8%

4. Cape Coral

Percent of population 65-plus: 25%
Average monthly rent: $1,946
Annual cost for homeowner: $49,052
Annual cost for renter: $48,461
Annual percent difference: 1.2%

5. Palm Coast

Percent of population 65-plus: 29.5%
Average monthly rent: $1,929
Annual cost for homeowner: $46,286
Annual cost for renter: $46,091
Annual percent difference: 0.4%

6. Merritt Island

Percent of population 65-plus: 27.6%
Average monthly rent: $1,905
Annual cost for homeowner: $54,076
Annual cost for renter: $45,237
Annual percent difference: 19.5%

7. Melbourne

Percent of population 65-plus: 22.5%
Average monthly rent: $1,888
Annual cost for homeowner: $47,772
Annual cost for renter: $44,717
Annual percent difference: 6.8%

8. Winter Park

Percent of population 65-plus: 24.8%
Average monthly rent: $1,845
Annual cost for homeowner: $58,599
Annual cost for renter: $45,998
Annual percent difference: 27.4%

9. Palm Harbor

Percent of population 65-plus: 28.6%
Average monthly rent: $1,815
Annual cost for homeowner: $56,457
Annual cost for renter: $45,698
Annual percent difference: 23.5%

10. Bradenton

Percent of population 65-plus: 28.1%
Average monthly rent: $1,811
Annual cost for homeowner: $50,777
Annual cost for renter: $44,595
Annual percent difference: 13.9%

11. Largo

Percent of population 65-plus: 28%
Average monthly rent: $1,788
Annual cost for homeowner: $48,881
Annual cost for renter: $45,073
Annual percent difference: 8.5%

12. Fort Myers

Percent of population 65-plus: 23.2%
Average monthly rent: $1,756
Annual cost for homeowner: $48,653
Annual cost for renter: $45,031
Annual percent difference: 8%

13. DeLand

Percent of population 65-plus: 21.6%
Average monthly rent: $1,746
Annual cost for homeowner: $45,829
Annual cost for renter: $43,660
Annual percent difference: 5%

14. Fleming Island

Percent of population 65-plus: 22%
Average monthly rent: $1,743
Annual cost for homeowner: $54,958
Annual cost for renter: $44,526
Annual percent difference: 23.4%

15. Port Orange

Percent of population 65-plus: 25.2%
Average monthly rent: $1,690
Annual cost for homeowner: $46,044
Annual cost for renter: $42,758
Annual percent difference: 7.7%

16. Lakeland

Percent of population 65-plus: 21.5%
Average monthly rent: $1,654
Annual cost for homeowner: $43,683
Annual cost for renter: $41,942
Annual percent difference: 4.2%

17. Titusville

Percent of population 65-plus: 23.2%
Average monthly rent: $1,611
Annual cost for homeowner: $41,770
Annual cost for renter: $41,466
Annual percent difference: 0.7%

18. North Fort Myers

Percent of population 65-plus: 45.8%
Average monthly rent: $1,592
Annual cost for homeowner: $44,818
Annual cost for renter: $43,901
Annual percent difference: 2.1%

19. Daytona Beach

Percent of population 65-plus: 22.5%
Average monthly rent: $1,545
Annual cost for homeowner: $41,929
Annual cost for renter: $40,757
Annual percent difference: 2.9%

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 indices 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 4, 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