The Real Deal Miami

South Florida no longer a retirement paradise, Forbes says


October 16, 2009 05:29PM

The sun has set on South Florida’s years as a retirement paradise — at least, that’s what Forbes Magazine says. The title’s latest top 10 list, “America’s Recession-Proof Cities To Retire In,” looked at the country’s 40 largest metropolitan statistical areas and ranked them by home prices, cost of living, employment rates, and number of sunny days. The Miami-Fort Lauderdale area came in a meagre 29th, beating out Los Angeles (31st) and New York (40th), but ranking far below up-and-coming Atlanta, Ga. (1st) and Kansas City, Mo. (9th). Central and Northern Florida fared better: the Tampa-St. Petersburg-Clearwater area was No. 2 on the list, and Jacksonville ranked 14th. Forbes attributes South Florida’s tumble to high housing costs and a real estate market that has seen better days. [Forbes via New Times Broward-Palm Beach]