Daytona Beach ranks No. 7 in U.S. News list of Best Places to Retire 2022-23
A new national ranking by U.S. News & World Report lists Daytona Beach as the seventh best place in the country to retire, down from the destination’s No. 3 spot in the same listing a year ago.
Daytona Beach was among four Florida destinations that were listed in the Top 10 rankings.
The others were Pensacola at No. 3, Tampa at No. 4 and Naples at No. 6. Three Pennsylvania areas completed the Top 5, with Lancaster topping the list, Harrisburg at No. 2 and York at No. 5.
The remainder of the Top 10 included Ann Arbor, Michigan, at No. 8, and two more Pennsylvania representatives, Allentown and Reading, at 9 and 10, respectively.
The publication’s appraisal of Daytona Beach noted that the area’s cost of living is lower than the national average. It also stated that expenses such as utilities tend to be slightly lower, and Florida residents are not required to pay a state income tax.
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However, it also was pointed out that Daytona Beach residents tend to earn less than the average American.
As part of the economic picture, the publication listed statistics that included the area’s average annual income of $43,100, median home price of $339,137 and median monthly rental rate of $1,127. It also noted that those age 65 or over account for 25% of the area's 658,961 residents.
Based on that population estimate, the publication appears to consider its “Daytona Beach” area to include all of Volusia and Flagler counties.
The Daytona Beach area is home to several 55-and-older communities, a factor that has enhanced its appeal as a retirement destination in recent years. Those communities include the Jimmy Buffett-themed Latitude Margaritaville off of LPGA Boulevard, just west of Interstate 95.
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From 2019: Margaritaville named nation's top 55+ community
The 1,845-acre community is expected to grow to 3,900 homes upon full build-out. Prices for new homes start in the low $300,000s.
In March, St. Petersburg-based Solvere Living celebrated the opening of a new assisted-living and memory care facility, Sunscape Daytona Beach, at 551 N. Williamson Blvd., offering yet another option for retirees.
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Built at a cost of more than $25 million, the 85-unit, 100-bed complex features "resort-style" amenities including its own movie theater, a fitness center, "restaurant-style, chef-driven" dining, a bistro and coffee bar, a salon and spa, a library, a game room, as well as outdoor gardens and a walking path.
Housing and healthcare costs big factors
This year’s U.S. News list evaluated the country’s 150 most populous metropolitan areas based on how well they meet Americans' expectations for retirement, with measures including housing affordability, health care, desirability and overall happiness.
The 2021-22 list: Senior haven: National ranking lists Daytona Beach third best place in nation to retire
The measures factored into this year’s rankings were weighted based on a public survey of individuals across the U.S. who are nearing retirement age (ages 45-59) and those at retirement age (60 or older) to determine key factors in considering retirement.
The publication used date sources including the U.S. Census Bureau, the Federal Bureau of Investigation and the Bureau of Labor Statistics.
Housing affordability and healthcare costs emerged as key factors in this year’s list, according to U.S. News editors.
“The drastic shift in the housing market, high inflation and concerns of a pending recession have retirees weighing housing affordability more heavily when considering where to retire,” Emily Brandon, U.S. News senior editor for retirement stated in a news release.
“Additionally, with COVID still a concern and access to good, affordable health care being of importance to retirees, Pennsylvania dominated the Best Places to Retire ranking’s top positions, taking five of the top 10 spots on the list.”
In its appraisal of Daytona Beach, the publication stated that the area offers a lower value for home buyers than similarly sized metro areas when you compare housing costs to median household income.
In terms of lifestyle, the ranking noted that the “things that make Daytona Beach a popular vacation spot also make it a good place to live.”
The publication then listed an array of diversions from fishing to golf to the internationally known NASCAR races at Daytona International Speedway. It also noted the presence of museums, theaters, antique markets, restaurants, malls and colleges that combine to make it “one of Florida's most well-rounded metro areas,” the publication stated.
This article originally appeared on The Daytona Beach News-Journal: Daytona Beach makes Top 10 in U.S. News list of top retirement spots
