The Top 25 Best Places to Buy a Vacation Home According to Vacasa
Vacasa, North America’s largest vacation rental management platform, recently released its Top 25 Best Places to Buy a Vacation Home report for 2019. The report takes a look at the best places to invest in a vacation home if you are planning to use it as a short-term rental.
Introduction To Vacasa's Report
The report is based on cap rate, which is the rate of return on real estate investment calculated by factoring net operating income (income less expenses) / home purchase price. Generally speaking, if the cap rate is greater the interest rate, you’ll come out ahead. If the cap rate is lower than the interest rate, you’ll be relying on appreciation for your return, making it a potentially riskier investment. The report also considered home sales data in vacation destinations around the country and actual performance data for thousands of U.S. vacation rental properties.
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Homes From Coast To Coast
Vacasa’s list of the Top 25 Best Places to Buy a Vacation Home includes homes from coast to coast, but a notable difference from the 2018 report is the number of mountain markets that took up some of the top spots on 2019’s list. Beach markets, especially those in Florida, continued to rank well of course, but the number one market on Vacasa’s list is Sevierville, Tenn., which is nestled along the Great Smoky Mountains. Another neighboring Smoky Mountain market, Whittier, N.C., nabbed the number four spot on the list.
Check out the full list of Vacasa’s Top 25 Best Places to Buy a Vacation Home, as well as other real estate resources if you are considering buying a second home.
Chart: Top 25 Best Places To Buy A Vacation Home
|
Rank |
City |
Median Home Sale Price |
Cap Rate |
|
1 |
Sevierville, TN | $239,976 | 10.30% |
| 2 | Killington, VT | $208,828 |
9.27% |
|
3 |
Davenport, FL | $255,390 | 8.39% |
| 4 | Whittier, NC | $178,000 |
7.91% |
|
5 |
Kissimmee, FL | $264,863 | 7.23% |
| 6 | Dauphin Island, AL | $345,281 |
6.67% |
|
7 |
Myrtle Beach, SC | $213,950 | 6.18% |
| 8 | Key West, FL | $763,109 |
6.06% |
|
9 |
Fort Bragg, CA | $509,500 | 5.87% |
| 10 | Big Sky, MT | $585,000 |
5.43% |
|
11 |
Blue Ridge, GA | $273,000 | 5.37% |
| 12 | Gulf Shores, AL | $345,135 |
5.33% |
|
13 |
Panama City Beach, FL | $347,430 | 5.31% |
|
14 |
Warren, VT | $262,003 | 5.30% |
|
15 |
Marathon, FL | $639,000 |
5.14% |
| 16 | Kihei, HI | $708,161 |
5.04% |
| 17 | Scottsdale, AZ | $513,301 |
5.03% |
|
18 |
Orange Beach, AL | $475,026 |
4.80% |
|
19 |
Harbor Springs, MI | $256,303 |
4.70% |
|
20 |
Rhododendron, OR | $315,744 |
4.70% |
|
21 |
Ellijay, GA | $243,000 |
4.65% |
|
22 |
Seaside, OR | $373,258 |
4.65% |
|
23 |
Waikoloa, HI | $575,422 |
4.64% |
|
24 |
Cocoa Beach, FL | $370,406 |
4.63% |
| 25 | Destin, FL | $484,154 |
4.50% |
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