02 Oct What are the pros and cons to moving to Florida?

Q. I’m considering moving to Florida because of the state income tax situation. What are the pros and cons? How can I decide?
— Tempted

A. That’s a big move.

It’s one that many from New Jersey have asked about.

Moving to Florida to take advantage of no state income tax can be a really good decision, said Bill Connington of Connington Wealth Management in Paramus.

You get to keep more of your paycheck and retirement income, he said.

“This is a big plus for high earners, people with large investment or retirement‑income streams, or dual income households, depending on your priorities, financial situation, and lifestyle,” he said, adding that it’s also a plus for people with the goal of leaving assets to heirs.

If you’re talking quality of life, you’ve got the warm weather, access to beaches and outdoor recreational opportunities, Connington said.

There are trade‑offs, though.

“On average, Florida is only slightly above the national cost‑of‑living baseline, but that depends a lot on which part of Florida,” he said. “Areas with high demand — coastlines, tourist hubs, big cities — tend to be expensive.”

He said while you avoid income tax, you pay state and possibly local sales tax and property tax, noting you already do that where you live now.

You can also expect higher insurance costs because of hurricane risk, he said.

“The best decision is to decide what sort of lifestyle you want to live and how much that matters to you in that we all only get one shot at being happy,” Connington said.

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This story was originally published in October 2025.

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