5 Florida Cities That Are Getting Too Expensive for Retirees

2. Coral Gables

Insider Monkey Score: 43    

Median Home Price: $1,550,000     

1-Year Percentage Change: 14.8%

5-Year Percentage Change: 55%

Cost of Living Index: 118.9

If you’re a retiree looking to live a luxurious life, Coral Gables is the right destination for you. However, if you’re an average retiree who’s looking to move to an affordable destination, then consider looking someplace else. This is because Coral Gables is becoming increasingly expensive for retirees due to several factors contributing to rising expenses. Over the past years, there has been a substantial percentage increase in housing costs, making it challenging for retirees on fixed incomes to afford homes in this area. Additionally, the overall cost of living in Coral Gables is on the rise and is 19% higher than the national average.