RV Retirement in Florida: A Cheaper Alternative to Housing? Let’s Take a Look

08/05/2024

RV in Key West

With its warm, sunny climate, good tax breaks and a strong sense of community, millions of retirees have made Florida home base for their golden years. The Sunshine State is a top destination for retirement, with 8.6 million Florida residents 50 or older, per Senior Living.

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However, a new retirement trend is happening: RV living. The nomadic, free-spirited way of life is appealing to more older people now, with an estimated one million seniors living full-time in an RV. As retirement approaches, RV living in Florida might be something to consider. Here’s how it can be a cheaper alternative to housing.

The Average Price of a Home in Florida

The most expensive cost-of-living category is typically housing, and the average home price in Florida is now $397,197, according to Zillow. This has increased by 3.3% in the last year.

The Average Price of an RV

The price of an RV depends on your needs, such as storage space, whether you’ll need different bedrooms, and what features you’re looking for. Knowing precisely what you want will help you plan out a budget for the cost of an RV. The average price range of an RV is $35,000 to $300,000 or more per Cruise America.

The Average Price of Property Taxes for Homes

Homeowners pay less than the national average in Florida. According to SmartAsset, “At a 0.80% average effective property tax rate, property taxes in Florida rank below the national average, which currently stands at 0.99% … Median annual property tax bills in the Sunshine State follow suit, as its $2,338 mark is over $400 cheaper than the U.S. median.”

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You Don’t Pay Property Taxes With an RV

If you live full-time in your RV, you don’t pay property taxes. This is one of the many benefits of living on the road.

Homeowners Insurance

Due to extreme weather conditions, Florida is one of the most expensive states for homeowners insurance, and it’s about to get more costly. According to the News-Press:

Florida homeowners pay the most for home insurance, with an average annual rate of $10,996 in 2023.
Insurify predicted costs will go up another 7% in 2024 to $11,759.
Six of the 10 most expensive cities in the U.S. for homeowners insurance are in Florida.
60% of homeowners don’t carry separate flood insurance, and 13% erroneously believed their standard policy included it.

RV Insurance

You can buy coverage that makes sense for your situation, but full coverage and total loss replacement are recommended if you live in your RV full-time.

The insurance price depends on the type of motorhome you own, your driving experience, and other factors. Good insurance can cost anywhere from a few hundred dollars a month to $1,500, depending on your needs and policy.

Gas

One of the bigger expenses of an RV, besides the RV itself, is gas. The cost depends on your plans and the size of the tank. Do you want to travel around or stay at a resort for a few months?

“For example, if an RV has a 100-gallon fuel tank and the price of gas is $3.50 per gallon, it would cost $350 to fill up (100 gallons x $3.50 per gallon),” per the Road Trip Blog.

Perks of RV Living

Imagine being free to wake up in nature, a beautiful national park, or a fun RV camp with a community of other full-time RV-living seniors. Besides the affordability of ditching a home for an RV, there’s the freedom to explore new places, take on seasonal jobs in campgrounds, or work remotely while enjoying the sites.

RV Living in Florida

Whether you plan to spend a few nights at a campground or the beach or are looking to stay at a resort for a while, here are a few ideas about where to go:

Florida Caverns State Park, Marianna: Wake up to the stunning Florida Caverns State Park sites, where you’ll see colorful stalagmites, stalactites, and caves. You can hike, bike, camp and kayak on the Chipola River.
Juniper Springs National Recreation Area, Ocala: No trip to Florida is complete without stopping by the Juniper Springs National Recreation Area, where you can swim, picnic, and enjoy the beautiful sites.
Bahia Honda State Park, Florida Keys: The Bahia Honda State Park features amazing snorkeling and is paradise for campers. Make sure to reserve a spot well in advance.
Willow Lakes RV Park & Golf Resort is 30 minutes from Orlando: There’s golfing, a clubhouse with several activities, and plenty of opportunities to make friends.
Holiday Springs RV Resort offers privately owned spring-fed pools, a pickleball court, nature trails, and a beautiful private lake.

How To Get Mail

Getting mail on the road can be tricky, but you have several options, including going paperless and setting up automatic payments. Here are some tips:

Use a trusted friend or family member’s house as your permanent address and have them forward your mail when you’re stationary for a few days.
Set up a P.O. box if you plan on staying in one location for a month or longer.
You can receive mail if you’re staying at an RV park.
If you order packages, use an Amazon Locker.

Health Insurance

Another thing to think about when living in an RV full-time is healthcare. If you plan on retiring in Florida, you’re in luck. The state has great health insurance options:

According to RVshare, “Florida Blue, one of the state’s most prominent insurers, offers two types of Florida Blue EPO/PPO plans (Blue Select & Blue Options) which act as EPO in-state, but take advantage of an extensive and highly reputable ‘Blue Card’ network that will function out of state as well, essentially making them PPO out of state.”
For RVers 65+, Medicare offers nationwide coverage at an affordable cost.
Insurance Exchange is also an option explicitly offered to people living in RVs. Various policies, including long-term care, dental and vision, and telemedicine, are available.