Retirees priced outside of Florida settle on the Alabama coast instead
American retirees priced out of Florida are now landing on the coast of Alabama, where the same warm weather and beautiful beaches cost a fraction of the cost.
John Fox, 70, and his wife Dr. Louise Turkula, 67, of Long Lake, hoped to spend their retirement simply being with their friends in Jacksonville or Naples, Florida, but soon discovered that their modest savings in Minnesota were not enough to file a claim in the Sunshine State.
Heading north to the neighboring state of Alabama, the couple donated $955,000 for a four-bedroom, 3,000-square-foot home on Baldwin County’s Ono Island — the fastest growing in the state as older Americans flock to less expensive homes. mortgages and property taxes.
Turkula’s brother lived on the island, but that didn’t stop Fox from being shocked that he had actually bought land in the state of Yellowhammer and given up on his dreams of waking up on Florida’s warm beaches.
“I’m actually moving to Alabama,” he recalled, incredulously thinking about the Wall Street Journal. He worried about moving to the Deep South as a progressive, but after visiting his wife’s sibling, his nerves were calmed when he realized his future neighbors had a wide range of interests and opinions.
John Fox, 70, and his wife Dr. Louise Turkula, 67, of Long Lake, hoped to spend their retirement simply being with their friends in Jacksonville or Naples, Florida, but soon discovered that their modest savings in Minnesota were not enough to file a claim in the Sunshine State
Heading north to the neighboring state of Alabama, the couple donated $955,000 for a four-bedroom, 3,000-square-foot home (pictured) on Baldwin County’s Ono Island — the fastest growing in the state as older Americans flock to the cheaper mortgages and property taxes
Now, the happy couple begins and ends their day poolside in their private backyard, enjoying the soothing sounds of the Gulf of Mexico, confined to their gated island, accessible only by one bridge.
‘Mornings are outside with a cup of coffee; In the evening it’s wine,’ Turkula said.
The retired financial planner and former plastic surgeon bought their southern palace in July 2022 and spent their winters there, enjoying the summer in their home state.
Fox and Turkula aren’t the only ones leaving the Ron DeSantis-led state. With a median income in Baldwin County of $49,000, bringing the median home price to $355,000.
Compared to popular Florida destinations such as Fort Lauderdale and Fort Myers — where median incomes range between $57,000 and $67,000 — home prices average between $378,000 and $411,000, according to WSJ.
Ono Island (pictured) is in Baldwin County, the fastest growing county in the state from 2010 to 2020. Many older couples have moved to the county because they are priced out of Florida
The median income in Baldwin County is $49,000, bringing the median home price to $355,000. Compared to popular Florida destinations such as Fort Lauderdale and Fort Myers – where the median income is between $57,000 and $67,000 – home prices average between $378,000 and $411,000
You simply get more for your money [in Alabama],” Fox and Turkula’s realtor Lawanna Sharples told WSJ. “It’s more affordable.”
Baldwin County has grown rapidly between 2010 and 2020, with growth of three percent, according to the Census Bureau. Broward County – where Fort Lauderdale is located – has only grown by about one percent.
In addition, Alabama offers lower rates, allowing retirees to enjoy a more luxurious life than pinching pennies in Florida.
“A lot of services are priced for that income,” Florida Atlantic University professor Ken H. Johnson told WSJ. Baldwin County is right on the water and the beaches look like sugar. It is tailor-made to accommodate these retirees.’
“In Alabama, you get more bang for your buck,” 71-year-old Bob Oliver of Roswell, Georgia, told WSJ. He and his wife Sherryl purchased a three-bedroom property in Orange Beach in October 2022 for $929,000. “It’s a lesser known area than the Florida Panhandle. It still has growth potential.’
Many retirees agree that Baldwin County offers better value for money than Fort Launderdale or Fort Myers
In addition, Baldwin County has lower property taxes, exempting homeowners over age 65 from paying the state’s share, allowing them to save up to 23 percent.
Fox and Turkula pay only $2,400 annually in property taxes. Their hurricane tax, on the other hand, borders on four times the price of $8,100 per year.
Kathy and Ashley Gordon have lived off and on in Baldwin County for 15 years and even dipped their toes in Florida real estate. They retired to the Sunshine State in 2018, but moved back to Baldwin three years later.
In November 2021, they bought a cottage-style home in Alabama for $543,000 and sold their Florida home for $875,000.
“Just going out to dinner or shopping was three times the price here,” Ashley said. “Florida is very transitory. You miss that sense of community.’