Why This US State With Over 2 Million Social Security Recipients Is An Attractive Retirement Destination

Florida has a reputation for being the retirement capital of the United States. After all, there is no snow or state income tax, and the state has plenty of beaches, golf courses, theme parks, shopping malls, and retirement communities. Problem is, buying a house in Florida can really cost you, thanks to astronomical insurance rates. There's also been a post-pandemic spike in rent. As a result of these and other cost-of-living increases, many retirees are leaving Florida and moving to other states.

Among the places Florida retirees are relocating to is the Midwest, according to a moving trend report from Pods.com. And while Ohio is not usually thought of as a retirement destination, nearly 19% of Ohio's population of 11.8 million people are over the age of 65, per the U.S. Census Bureau. As of December 2024, Ohio had more than 2.5 million Social Security recipients, most of whom — nearly 2 million — are beneficiaries aged 65 or older, according to a Social Security Administration report. That is still a smaller population than Florida's 4.3 million Social Security beneficiaries 65 or older. Additionally, more Social Security money headed toward Florida ($9.5 billion) than Ohio ($4.5 billion) in 2024. However, Ohio is one of the cheapest states in the U.S. to retire, which means a Social Security check can go a lot further in the Buckeye State than in the Sunshine State.

As of March 2025, the cost of living in Ohio was 8% lower than the national average, according to RentCafe. Among the costs that were lower in Ohio are housing (12% lower), goods & services (10%), transportation (5%), healthcare (4%), and monthly utilities (2%). The only sector where Ohio costs were higher than the national average was food, which was 1% higher.

In regard to housing, the average rent in Ohio in July 2025 was $1,335 a month, whereas nationally it was $1,754 a month, per RentCafe. In Florida, where the cost of living was 2% higher than the national average, the average rent was $1,989 a month. As for buying a house, the average home value was $243,907 in Ohio versus $368,581 nationally as of the end of July 2025, according to Zillow. In Florida, the average home price was $382,136. In addition, Ohio home prices went up 3.4% year-over-year while Florida home prices fell by 4.8%, so the resale momentum is greater in Ohio.

One Ohio city where retirees can live on Social Security alone is Cleveland Heights, a suburb of Cleveland, where rent averaged $1,183 a month, per RentCafe. In Cleveland itself — home of the Rock and Roll Hall of Fame, the main campus of Cleveland State University, and three major sports teams — rent averaged $1,558 a month, a few hundred dollars lower than the $1,954 average monthly Social Security payment for retirees and their families.

Ohio is not just a cheap place to live. There are numerous state parks in Ohio, museums and theaters, and several major events such as the Cleveland International Film Festival, the Ohio Renaissance Festival, and the Columbus Arts Festival. The state is also home to some of the best hospitals in the nation, particularly Cleveland Clinic.

Yet, there are some drawbacks to retiring in Ohio as well. The weather can be harsh on both ends of the spectrum, with very hot summers and frigid cold winters. The state's public transportation systems are limited, and its taxes are on the higher side. However, Ohio has a lower state income tax, and it does not tax Social Security benefits. As for retirees who earn other income besides Social Security, Ohio provides tax credits for retirees who have adjusted gross incomes of less than $100,000 a year, according to Ohio's Department of Taxation. Those tax credits, combined with the new senior deductions in the One Beautiful Bill Act, may provide enough wiggle room to find a lifestyle that will help determine your retirement success in Ohio.