Retire in Pensacola

Affordability

Find out how much it costs to live in Pensacola.

Cost of Living

Kiplinger Rating:

Most Tax Friendly

State Income Tax:

None

Social Security Tax?

None

County + State Sales Tax

7.5%

Property Tax Rate *

1%

Property Tax Ranking (County Property Tax rank out of 2,773, higher rank=lower rate) *

1277

* 2008-2010

Cost of Living Index (100=average):

92.6

Housing + transportation costs as % of income:

53%

Tax Details

State Sales Tax Breaks for Seniors:

None

Pensions Taxed?

None

Tax burden: % income going to state and local taxes:

8.9%

Inheritance and estate taxes (per Kiplinger):

None

Taxing of other retirement income (per Kiplinger):

None

Property Tax Break for Seniors (per Kiplinger):

Florida residents ages 65 and older who meet certain income limits can receive an extra homestead exemption of up to $50,000 from some city and county governments and/or an exemption equal to the assessed value of the property, as long as the real estate has a fair market value of less than $250,000, the homeowner has maintained permanent residence at the location for at least 25 years, and household income does not exceed $27,994 during 2014.

 

For more detailed tax information from Kiplinger, visit www.kiplinger.com/tool/retirement/T055-S001-state-by-state-guide-to-taxes-on-retirees/

Real Estate

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Work Potential

  • Area
  • National Average

5 Largest Companies

  • Baptist Health Care
  • Navy Federal Credit Union
  • Sacred Heart Health Systems
  • Gulf Power Company
  • West Florida Healthcare

GDP Growth Last 3 Years

14.8%

Income Growth Last 3 Years

5.3%

Employment Growth Last 3 Years

5.7%

Top Industries Hiring

  • Management of companies and enterprises
  • Retail trade
  • Construction
  • Professional, scientific, and technical services
  • Other services (except public administration)

Breakdown Fulltime vs Part Time over 65 (%)

  • Part Time over 65
  • Full Time Over 65

Occupation Breakdown (%)

  • Management, Business, Science & Arts (MBSA)
  • Natural Resources, Contruction & Maintenance (NRCM)
  • Production, Transportation, Materials & Moving (PTMM)
  • Sales & Office (S&O)
  • Service

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