Sarasota ranks high on happiness, but low on affordability.
Sarasota has landed at No. 4 in U.S. News & World Report‘s list of best places to retire. The annual list evaluates 150 cities nationwide based on six criteria—happiness, affordability, health care, desirability, retiree taxes and job market—aimed at capturing what retirees seek in their golden years. As part of the same report, Sarasota came in at No. 11 for the nation’s best places to live—although we’re guessing it may have been too late in the year for the report to make note of the effects of recent hurricanes and natural disasters, which devastated some local areas, especially the barrier islands.
Once known mostly as a retirement haven, Sarasota is seeing more young professionals and families, with rapid development in both residential and commercial areas intensifying.
Overall, the Sunshine State, long known for its retiree-friendly climate and lifestyle, boasted eight cities in the top 25, including Naples (No. 1), Jacksonville (No. 7), Tampa (No. 18), Port St. Lucie (No. 19), Melbourne (No. 20) and Fort Myers (No. 24). Sarasota was ranked No. 1 in 2020 and 2021.
But in more recent years, the scoring had more heavily weighed affordability, the top concern among retirees, according to U.S. News. High-priced Sarasota, as a result, fell to No. 11 in 2022 and No. 18 in 2023 as local real estate prices soared due to new migration following the pandemic.
According to the Realtor Association of Sarasota-Manatee, in 2023, the median price for Sarasota condos was $410,000; for single-family homes, the median price was $515,000—much higher than the national median sale price of an existing home which was roughly $389,000.
In the report, U.S. News admitted that for a city of its size, Sarasota is not a cheap place to live. In fact, median rental prices for an apartment are even slightly higher in Sarasota than in larger nearby cities like St. Petersburg and Tampa. In other words, it offers a lower value than similarly sized cities when you compare housing costs to median household income.
But this year, U.S. News adjusted its methodology, revealing that retirees are increasingly prioritizing a sense of happiness, fulfillment and belonging over financial concerns. That paved the way for major cities like New York (No. 3) and Washington, D.C. (No. 12) to place higher, despite their well-known affordability challenges. U.S. News reporters say these urban centers excel in terms of happiness, health care and desirability, balancing their drawbacks with cultural and recreational opportunities.
That methodology shift also propelled Sarasota back to the top of the rankings. Despite losing points on affordability, we gained them on happiness—as well as health care, desirability, taxes and the job market.