Retirees are moving to this US town where its 65+ plus population soared 256% in five years

One American town is becoming a true retiree haven, and — no surprise — it's located in Florida.According to a new report from MoneyLion, a fintech mobile banking company, 11 of the 30 fastest-growing retirement communities are located in the Sunshine State, and the city of Wildwood is top of the list.Wildwood is approximately 52 miles from Orlando and 77 miles from Tampa. Over the last five years, the city has seen a 256 percent increase in its retiree community, including a 16 percent increase in the past year alone, according to the report.The city's population is 19,436, per the U.S. Census Bureau, meaning that nearly half — 47 percent — of its population is aged 65 or older.Wildwood is also located just south of the world's largest retirement community, The Villages.A boat ramp at Lake Deaton Park in Wildwood, Florida. Wildwood has the nation's fastest-growing population of people aged 65 and older (City of Wildwood)Like its larger neighbor, Wildwood has a number of draws that might entice seniors to put down roots. It has a historic downtown — which is undergoing a 30-year redevelopment project — as well as golf courses, lakes for fishing and boating, parks, and horseback riding.Jason McHugh, Wildwood's city manager, told WESH in 2023 that its proximity to The Villages helped kickstart the city's growth among retirees and that has allowed the city to undertake major renovation projects."We're seeing other private developers coming in here and providing other single-family homes and other apartments," McHugh said at the time. "If we didn't have this growth coming in, we wouldn't have the financial resources to improve the downtown and to make Wildwood a better place."Home prices in the area aren't bad either. According to Zillow, the average home value is $296,915, which is approximately $100,000 less than the average property prices in The Villages.Residents of The Villages, Florida dancing during a party. The Villages is the world's largest retirement community and is just south of Wildwood, Florida (AFP/Getty)The cost of living in Wildwood is seven percent higher than the national average, per Salary.com. It costs $2,637 per month for singles and $5,808 per month for a family-of-four living in the city. But Florida law has eliminated Social Security and individual home taxes, which helps mitigate some of the costs.The second fastest-growing retirement community is in Bluffton, South Carolina, according to the report. In Bluffton, people aged 65 and older make up 24.6 percent of the town's overall population. Its retiree population has increased nearly 150 percent in the past five years and 28.3 percent in the past year.Taking the third spot is Goodyear, Arizona, with retirees making up 20 percent of the city's population. That represents a 68 percent increase in the last five years and a 15.8 percent increase over the last year, per MoneyLion.