What Retiring in Florida Really Costs in 2025

Can You Afford the Florida Dream?

If Florida's on your retirement radar, you're in good company. But is it in your budget? Sunshine, no state income tax, and a lifestyle that blends laid-back with lively? Yes, please. But what does it really cost to retire here in 2025?

We're breaking it down: from how much you need to save, to what your monthly income might look like, to the latest prices in Florida's 55+ communities. You might be budgeting down to the penny, or just getting your toes wet. Either way, we've got the numbers and the insider tips to help you plan your dream retirement.

How Much Should You Save for Retirement in 2025?

Let's cut to the chase: most experts still recommend saving enough to replace 70% to 80% of your pre-retirement income. So, if you earned $100,000 before retiring, you're looking at needing around $70,000 to $80,000 per year in retirement.

But with inflation and rising healthcare costs, that number may need a boost.

The 2025 reality check:

• Recommended nest egg: $1.5 to $2 million (Fidelity still uses this range depending on your lifestyle).
• Want to keep it simple? Use the 80% rule, but pad it a bit if you plan to travel or move to a pricier 55+ community.
• Couples: Combine your incomes and savings goals. Be sure to factor in any pensions, Social Security, and investments.

The bottom line? There's no one-size-fits-all answer, but having a flexible plan (and a good financial advisor) will go a long way.

What's a Good Monthly Retirement Income in 2025?

While savings are key, income is where the rubber meets the road. So what does a "comfortable" monthly retirement look like in Florida?

According to 2025 estimates, retirees in Florida spend around $6,300 to $8,000 per month, depending on lifestyle and location. Want to travel, golf, and live in a top-tier community? You may need $10,000+ per month.

But it's not all or nothing. Many retirees in 55+ communities live well on less, thanks to lower property taxes, bundled amenities, and HOA perks.

Average 401(k) Balance for 2025

If you're curious how your retirement savings stack up, here's the latest:

• Average 401(k) balance (age 65+): $272,588
• Median balance: ~$90,000 (Source: Vanguard, updated early 2025)

As always, averages are skewed by high earners, so don't panic if your balance is below the average. Focus on what you need based on your expenses, location, and goals.

Pro tip: Take advantage of catch-up contributions (up to $7,500 extra per year if you're over 50).

How Much Does It Actually Cost to Retire in Florida?

We love Florida, but paradise isn't free. Here's what it might take to live comfortably here in 2025:

Estimated annual cost of retirement in Florida: $76,000

(That's about $6,300/month, up slightly from last year.)

This includes:

• Housing (mortgage or rent, property taxes, insurance)
• Utilities (A/C in the summer = must-have!)
• Groceries & dining
• Transportation (gas, insurance, car maintenance)
• Healthcare (Medicare, supplements, out-of-pocket)
• Leisure & travel (because you didn't retire to sit around)

Your total will depend on where you land. Ocala? Lower cost. Sarasota? More luxe. Coastal views come with coastal price tags, just sayin'.

Florida's 55+ Communities: What's the Price Tag?

Home prices in 55+ communities range wildly, so we've rounded up a few examples to show you what you can expect in 2025:

Central Florida Area

Pennbrooke Fairways - Leesburg, FL

• Homes from: $165,000
• Why it's great: Affordable golf, two clubhouses, low fees. Ideal for budget-minded retirees who still want the good stuff.

Del Webb Sunbridge - St. Cloud, FL

• Homes from: $425,000
• Why it's popular: Modern, master-planned, close to Orlando. Packed with resort-style amenities and a future-proof design.

On Top of the World - Ocala, FL

• Homes from: $200,000
• Why it's a standout: Tons of clubs, three golf courses, and a social scene that's always buzzing.

Key Retirement Savings Changes for 2025

Here's what changed recently, and why it matters for your future budget:

Retirement Contribution Updates (IRS 2025)

• 401(k) limit: $23,000 (+$7,500 catch-up if 50+)
• IRA limit: $7,500 (+$1,000 catch-up)
• Income ranges expanded for Roth IRA contributions and deductibility.

Healthcare Planning

• Medicare Part B premiums rose again (now averaging ~$180/month)
• Out-of-pocket costs: Still rising, especially for prescriptions

Social Security

• COLA adjustment: 3.2% increase in 2025
• Max taxable earnings: Now $173,400

Even if you're not retiring this year, it's smart to build flexibility into your plan. Higher savings limits = more opportunity. Social Security tweaks = time to reevaluate your claiming strategy.

Trends Shaping Retirement in 2025

Retirement isn't slowing down, it's evolving. Here's what we're seeing:

• Later retirement ages: Many are waiting until 67+ for maximum Social Security.
• Phased retirements & side gigs: Part-time work is becoming the norm for those easing into retirement (and keeping their travel fund strong).
• Boomers out-buying millennials: Yep, retirees are dominating the housing market with cash offers and downsized dreams.
• Digital retirement planning: Robo-advisors, retirement calculators, and financial apps are making it easier to stay on top of your plan without the spreadsheets.

Planning Ahead

So, what's your next move? It doesn't matter if you're still five years out or already collecting Social Security, the key to a confident retirement is information + action. Here's what we recommend:

• Revisit your budget with 2025 costs in mind
• Review your savings strategy (and pay into those catch-up contributions)
• Start exploring 55+ communities based on your lifestyle and finances
• Talk to a real estate pro, like an Explore55Plus Expert, who knows the Florida market and understands the needs of retirees.

Let's Find Your Florida Lifestyle

At Explore55Plus, we do more than talk numbers. We help you picture the life you want and take the next steps to make it happen. Whether you're dreaming of lakeside mornings, pickleball tournaments, or a low-maintenance villa near the beach, our experts can help you find the right fit. Connect with an agent who knows your area.

And if you're just browsing? Download our latest free Florida retirement guide focusing on the Tampa Bay area. It's packed with overviews, community picks, and pricing info.

Paradise, With a Plan

Florida may be the dream, but your plan is the passport. With the right numbers, and the right team, you can retire with confidence, sunshine, and maybe even a community chicken coop (seriously, we know a place). Happy exploring and here's to living your next chapter well.