Retiring in Florida vs. Arizona: Which Is More Affordable Now?
Florida and Arizona have long ranked among the most popular states for retirees and that’s still the case today. But which gives seniors more bang for their buck?
In 2025, Florida ranked first in the nation in attracting the most U.S. seniors, according to the AARP. About 45,700 Americans 65 and older moved to the Sunshine State last year (although 44,900 also moved out). Arizona ranked fourth, drawing 17,966 new seniors. Texas and California ranked second and third, respectively.
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If you’re a retiree weighing whether to move to Arizona or Florida, you’re probably interested in which costs less. Here’s a look at which state is more affordable right now.
Affordability: Florida vs. Arizona
When it comes to affordability, the main things to consider are housing costs and everyday living expenses. The best way to compare housing costs is to look at typical home prices and rents.
When comparing living expenses, one good measure is the cost-of-living index. It gauges the cost of living in one state vs. the national average (set at 100) across six spending categories: housing, groceries, utilities, transportation, healthcare and miscellaneous. Any index below 100 is cheaper than average, while any index above 100 is more expensive than average.
Below is a quick look at how Arizona and Florida compare when it comes to home prices, monthly rents and living expenses. Home prices are from the Federal Reserve Bank of St. Louis (FRED) as of April 2026. Average rents are from Apartments.com as of May 2026. The cost-of-living index includes 2026 figures from World Population Review.
Category | Arizona | Florida |
Median home listing price | $478,000 | $426,000 |
Average monthly rent | $1,322 | $1,683 |
Cost-of-living index | 110.7 | 102.2 |
Based on the above figures, Florida has the edge when it comes to overall affordability. Median home prices and living costs are lower in Florida, though rents are higher.
That only tells part of the story, however.
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Big Cities Are Pricier in Florida
Although home prices are less expensive statewide in Florida, retirees who want to move to the biggest cities will find it cheaper to do so in Arizona.
According to Federal Reserve data, here are median home listing prices in the two biggest metro areas in Florida as of April 2026:
Miami-Dade County: $595,868
Tampa-St. Petersburg-Clearwater: $406,500
Here are median home listing prices in the two biggest metro areas in Arizona as of April 2026:
Phoenix-Mesa-Scottsdale: $499,000
Tucson: $386,000
Average rents are also higher in Florida than Arizona when it comes to both the most expensive and least expensive cities for renters. Here’s a look:
Category | Florida | Arizona |
Five most expensive cities average | $2,190/month | $1,671/month |
Five least expensive cities average | $1,167/month | $1,016/month |
Tax Considerations
When it comes to taxes, it’s pretty much a wash between Arizona and Florida.
Florida has the edge in terms of income taxes because it doesn’t impose a state income tax, according to H&R Block. Only eight other states can make that claim.
Among the states that do charge a state income tax, Arizona has the lowest rate at a flat 2.5%, according to Intuit TurboTax.
Arizona holds the edge in terms of property taxes. Homeowners there pay an average 0.48% rate on property taxes paid as a percentage of housing value, according to the latest Tax Foundation data. Florida’s rate is 0.78%.
Bottom Line
It’s not easy to gauge whether Arizona or Florida are more affordable for retirees right now because so much depends on where (and how) you want to live.
If you aim to rent, then Arizona is probably the less expensive choice. If you want to buy a home, Florida is generally cheaper — but only if you avoid the biggest cities.
Arizona has slightly higher living expenses and income tax rates than Florida. But you’ll probably pay less in property taxes in Arizona than in Florida.
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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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