5 Best Places in Florida to Retire On a Budget

2. Lakeland

Insider Monkey Score: 3

Lakeland, Florida, is another top retirement destination for retirees based on its moderate climate, abundant activities, and affordable cost of living. Best Places states the cost of living in Lakeland is 88.3, which means it is 11.7% cheaper than the U.S. average. Median home prices in the city stand at $306,000, while average rents range between $950 to $2,425, depending on different factors. 21% of the population in Lakeland comprises seniors 65 or older. The average social security income in Lakeland is $16,799 per year, while senior households’ annual income averages $10,000. The Lakeland area comprises 13 independent living communities with average costs of around $2,527 only.