Top cities to invest in a beach rental property
Investing in a beach property has a lot to offer—both as a personal vacation getaway and a second source of income. Check out some of the hottest places to buy a vacation property:
Myrtle Beach, South Carolina
A bustling boardwalk and 60 miles of beachfront make Myrtle Beach an attractive vacation town. The affordability, especially in North Myrtle Beach could be a smart investment.
- Median Property Price: $251,000*
Long Beach, California
Long Beach has plenty to do all year long and holds a lot of potential for both short-term and long-term rental success. Rents continue to be in high demand, making this “International City” worth considering.
- Median Property Price: $693,228*
Gulf Shores, Alabama
The Gulf Shores attract visitors all year long due to the Hangout Music Festival in spring and National Shrimp Festival in the fall. Investing in a condo with a boat slip is a smart buy.
- Median Property Price: $424,600*
Emerald Coast, Florida
The Panama City beach area is booming with new developments, making these white sandy beaches a hot spot with great potential ROI. Check out Laketown Wharf if you’re looking for a great value.
- Median Property Price: $397,400*
Ocean City, Maryland
Only three hours away from Washington D.C., this beach town offers a three-mile wooden boardwalk on the Atlantic Ocean. Invest near the water for the greatest rental potential.
- Median Property Price: $291,100*
South Padre Island, Texas
The Texas Gulf shoreline is not only stunning, but the warm weather makes this island a great choice if you’re looking for extra income all season long.
- Median Property Price: $264,100*
Contact your local Guaranteed Rate lender to learn more about investing in vacation rental properties!
*Source: https://www.coastalliving.com/homes/best-beach-towns-vacation-rental-investment?, https://www.mashvisor.com/blog/best-places-to-own-a-beach-house/, https://www.mashvisor.com/blog/long-beach-real-estate-investing/
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