5 minEconomy
Baby Boomers Are Choosing the Carolinas Over Florida for Retirement, U-Haul Data Shows
A new U-Haul migration report shows baby boomers are increasingly relocating to South Carolina and North Carolina instead of Florida, driven by lower property taxes, cheaper housing, and more varied terrain.
Baby boomers are increasingly bypassing Florida in favor of the Carolinas when they move across state lines, according to U-Haul's 2026 Midyear Migration Trends National Report. The data, which tracks one-way U-Haul truck, trailer, and U-Box container rentals between July 2025 and June 2026, shows South Carolina and North Carolina ranking first and second among boomers, with Florida falling to third place.
The shift marks a notable change for a generation that has long been associated with retiring to the Sunshine State. Florida still performed well overall, becoming the only state to rank in the top 10 for all four generations tracked by U-Haul — baby boomers, Gen X, millennials, and Gen Z. It even took the top spot for Gen X and millennials. But for boomers, six of their top seven destinations were in the Southeast, with Arizona the only exception outside the region.
Cost is a major factor behind the Carolinas' rising appeal. While Florida has no state income tax, North Carolina currently levies a flat 3.99% income tax, and a law signed in July will reduce that rate to 3.49% in 2027. South Carolina overhauled its income tax this year, introducing a 1.99% rate on the first $30,000 of taxable income and a top rate of 5.21% above that threshold.
Property taxes and housing prices also favor the Carolinas. According to the Tax Foundation, Florida's effective property tax rate on owner-occupied homes is 0.78%, compared with 0.66% in North Carolina and 0.49% in South Carolina. Census Bureau data puts Florida's median home value at $359,000, well above North Carolina's $288,900 and South Carolina's $259,000. Median gross rent follows the same pattern: $1,669 a month in Florida, versus $1,228 in North Carolina and $1,180 in South Carolina.
Florida homeowners have also faced rising insurance premiums and condo association fees, which have forced some condo sellers to cut prices and pushed housing inventory higher in parts of the state.
Geography and lifestyle are playing a role as well. Florida's peninsula extends far from the rest of the country, and its major metros — Miami, Tampa, and Orlando — sit at a distance from neighboring states. The Carolinas, by contrast, are within a half-day's drive of Atlanta and Washington, D.C., and major airports in Charlotte and Raleigh-Durham make business travel more convenient for retirees who continue working.
The Carolinas also offer more varied terrain. Beaches and golf courses line the eastern coasts, while the Blue Ridge Mountains in the west provide hiking, biking, and camping. Lakes such as Lake Norman and Lake Murray attract boaters and anglers. Florida has its own outdoor attractions, but its flat landscape offers less variety — a factor that may matter more as Americans stay active later in life.
Climate is another consideration. Warm weather was once Florida's strongest selling point, but hotter summers, rising sea levels, and storm risk have made year-round property ownership there more precarious. The Carolinas face flooding and hurricanes too, and Hurricane Helene's destruction in western North Carolina in 2024 demonstrated that mountain areas are not immune. Still, the states' milder climate and higher ground give residents more options for limiting their exposure.
By broader measures, Florida remains the bigger draw. Its population reached about 23.5 million in 2025, the third-largest in the country after California and Texas. It grew 8.9% between April 2020 and July 2025, slightly ahead of South Carolina's 8.8% and North Carolina's 7.2%, according to the Census Bureau. But that booming population may be a drawback for older Americans seeking quieter surroundings.
Notably, the Florida metros that made boomers' top 10 were not Miami, Tampa, Orlando, or Jacksonville, but Gainesville-Ocala at No. 1 and Daytona Beach at No. 9. Myrtle Beach and Charleston, S.C., ranked second and fourth, while Wilmington, N.C., rounded out the list.
For a growing number of boomers, the retirement dream now appears to center on peace, quiet, affordability, and recreation — and they are increasingly finding it in the Carolinas.
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