Best Beach House Investment Locations in the U.S. for 2023: Top 10 Waterfront Destinations with High ROI
Top 10 Beach House Investment Destinations in the U.S. for 2023: Where to Buy for Maximum ROI
If you've been dreaming of owning a beach house as a vacation home that can also generate rental income, you're not alone. Despite rising real estate prices, the demand for beachfront properties remains strong. Vacation rental management platform Vacasa has recently released its rankings for the best places to buy a beach house in the U.S. in 2023, based on the highest annual cap rate, or rate of return on investment. Here are the top 10 destinations that made the list:
1.Lake Anna, Virginia - With a cap rate of 12.1%, Lake Anna takes the crown as the most profitable waterfront location in the nation. The median home sales price is around $385,000, and the median gross rental revenue is over $69,000.
2.Hatteras Island, North Carolina - This coastal destination attracts millions of visitors each year, and offers a cap rate of 9.51%. The median home sales price in the area is $412,500, and the median annual gross rental revenue is over $58,000.
3.Navarre Beach, Florida - Homes in Navarre Beach sell for a median price of $370,000, and annual gross revenue is just over $50,000, with a cap rate of 9.46%.
4.Destin, Florida - A popular destination on Florida's Emerald Coast, Destin draws 5 million visitors every year. The median home sales price is around $525,000, and the cap rate is 5.32%, with an annual revenue of roughly $51,000.
5.Highway 30A, Florida - This 20-mile stretch of beach towns between Destin and Panama City on the Emerald Coast offers a cap rate of 4.6% with a median home sales price of about $640,000, and an annual revenue of around $55,000.
6.Outer Banks, North Carolina - This popular beach destination offers a cap rate of 4.47%, with a median home sales price of $425,000, and an annual revenue of over $45,000.
7.Gulf Shores, Alabama - With a cap rate of 4.25%, Gulf Shores offers a median home sales price of $415,000, and an annual revenue of over $40,000.
8.Tybee Island, Georgia - This charming island off the coast of Savannah offers a cap rate of 3.92%, with a median home sales price of $495,000, and an annual revenue of over $45,000.
9.Folly Beach, South Carolina - Folly Beach offers a cap rate of 3.87%, with a median home sales price of $650,000, and an annual revenue of over $50,000.
10.Galveston Island, Texas - Rounding out the top 10 is Galveston Island, offering a cap rate of 3.75%. The median home sales price is $320,000, and the annual revenue is over $30,000.
These rankings are based on Vacasa's analysis of cap rates, median home sales prices, and annual gross rental revenues. It's important to note that real estate markets can fluctuate, and it's always wise to do thorough research and consult with a local real estate professional before making any investment decisions.
In conclusion, owning a beach house can be a dream come true, and these top 10 destinations in the U.S. offer the potential for a profitable investment. Whether you're looking for a second home or a vacation rental property, these beachfront locations are worth considering for their strong cap rates and potential
Phone(850) 225-9899 Email[email protected] |
Address
Delawalla Group |
This home has...
Welcome to the epitome of luxury living - Penthouse 706, a diamond along the Emerald Coast of Florida.
Located in the heart of Crystal Beach this...
This trophy property, a yachtsman's deep-water dream estate, was constructed new in 2014...
This charming beach cottage is the perfect spot for a relaxing vacation. With its cozy and inviting atmosphere, you will feel right at home from the moment...
1. Spacious Bedrooms: Three generously sized...
100% Updated and Move in Ready!!
3 Bedroom 2 Bath, Family Room,1500 Feet 1 Car Garage on almost 1/2 Acre..
Updates Include....
Post a Comment