Places To Buy a Beach House in 2022: A vacation home on the beach is a great idea. It can be used for long weekends or as a getaway. You can even buy a house in a place that others will love and rent out when you aren’t using it.
Where can you go to find the most comfortable place to stay away from home, and where can you make a lot of money to pay your mortgage?
GOBankingRates used Vacasa rankings to determine the best 10 locations to buy a beach home in 2022. Vacasa is a website that helps tourists find vacation rental properties. It based its rankings primarily on the median home sales price, the average annual gross rent revenue, and the cap rate which is the annual rate of return on investments.
Hatteras Island, North Carolina #1
Hatteras Island is located on the Outer Banks of North Carolina. It’s made up of seven villages and two lighthouses, as well as the Cape Hatteras National Seashore. The latter was established in 1937 to protect the barrier island and has kept the island small-scale and unspoiled. Hatteras Island is a paradise for beach fun, including surfing and fishing. It has also seen many shipwrecks making it part of the area known as the Graveyard of the Atlantic.
Cap Rate
What Are Cap Rates?
- The capitalization rates are the rates of return on real estate investment properties based on the expected income.
- Cap rates (also known as capitalization rates) are measures that can be used to compare and estimate the rates of return for multiple commercial real property properties.
- Cap rates are calculated when the property’s net operational income (NOI), is divided by its property asset valuation.
Median Home Sales Price
What is the median sales price for existing homes in the US?
- The current US Home Median Sales price is 416000.0. This is an increase of 408400.0 and 366900.0 respectively.
- This represents a change in 1.86% from last year and 13.38% from the one year ago.
- The median price is the average price of all houses in a given data set. It includes exactly half the houses priced at less than half the other half.
Average Annual Gross Rental Revenue
What is the gross rental income?
- All rent received must be included in your gross income.
- Any payment received for the use and occupation of property is considered rental income.
- Your gross rental income can include expenses incurred for renting property.
- Generally, you deduct rental expenses in the year that they are paid.
Lahaina, Hawaii #2
Lahaina on Maui’s west coast has the highest median home sale price at $700,000. But consider the many tourists who will find your area appealing. Lahaina was once a whaling community. 55 acres of the community have been designated historic districts. Lahaina, however, is still a popular spot for tourists to enjoy the water and shops, restaurants, galleries, and other amenities.
Cap Rate
Median Home Sales Price
Average Annual Gross Rental Revenue
Port St. Joe, Florida #3
Port St. Joe is the first city to have a median home sale price below $400,000 and it bills itself as “small town with big heart”. Port St. Joe has a small population of 3,357 people at the 2020 census. However, the city on the Gulf Coast offers big things to do, including beaches, parks, marinas, and a pedestrian-friendly downtown with shops and restaurants.
Cap Rate
Median Home Sales Price
Average Annual Gross Rental Revenue
New Buffalo, Michigan #4
New Buffalo, the first location in the northern tier, is located north of the Michigan-Indiana frontier. It is approximately a 90-minute drive away from Chicago. This makes it an ideal destination for tourists from Chicago, the third largest city in the country. There are 10 public beaches on New Buffalo’s 16-mile shoreline of Lake Michigan. Many of these beaches offer wheelchair access. Before you go to the Four Winds Casino, try fishing or sailing. This is ideal for Buy a Beach House.
Cap Rate
Median Home Sales Price
Average Annual Gross Rental Revenue
Rockaway Beach, Oregon #5
Rockaway Beach, located on the Pacific Coast about 90 miles west from Portland, is one of five spots on this list. It has a median home price below $400,000 and is one of five on the list.
The Twin Rocks, a lava formation that has been millions of years in making, and the coastal beauty of the area are its hallmarks.
It is where the mountains meet with the sea. According to visitors, Twin Rocks, which are 88 feet tall, can be seen from afar, and you might see images of the Loch Ness Monster or a Native American princess.
Cap Rate
Median Home Sales Price
Average Annual Gross Rental Revenue
Navarre Beach, Florida #6
You want a relaxing vacation like no other? Navarre Beach, Florida’s Panhandle is the place to go. It has 12 miles of white-sand beach between the Gulf Islands National Seashore (NAVRE Beach Marine Park) and Navarre Beach Marine Park (Gulf Islands National Seashore). Enjoy the warm weather activities of swimming, surfing, and biking. Then enjoy the catch of your day at one of the local bars or restaurants.
Cap Rate
Median Home Sales Price
Average Annual Gross Rental Revenue
Daytona Beach, Florida #7
Head to Daytona Beach for the best vacation homes. The city is well-known for hosting the Daytona International Speedway (Daytona 500) and other events. It has 23 miles of Atlantic shoreline, which includes white-sand beaches, that you can drive along. Enjoy shopping, dining and music at the Daytona Beach Boardwalk & Pier.
Cap Rate
Median Home Sales Price
Average Annual Gross Rental Revenue
FAQ: Places To Buy a Beach House in 2022
Is it good to invest in a vacation home or Buy a Beach House?
The bottom line. Bottom line. How you intend to use the property will determine whether a vacation home is a good investment. If you intend to use the property primarily for vacation rental, the potential income and long-term appreciation make it an excellent long-term investment.
Is Buy a Beach House worth it?
A beach house can provide a great return on your investment, steady income streams, and access to a beautiful vacation spot. Many beach house investors buy homes to rent out during peak tourist times.
