One of the smartest investments people can make at the moment is buying a vacation home. There are numerous places across the country where purchasing a vacation home is worth it due to good weather, low crime rates, affordable prices, and more. CNBC estimates that around 65 percent of people looking to invest in a vacation home aren't sure where to buy one.
It's important for potential buyers to look for a home that isn't only in an appealing location but will earn them a nice profit. These are the top locations to purchase a vacation home in the United States.
There's No Downside To Buying In Sevierville, Tennessee
Adventure awaits in Sevierville, Tennessee. This Southern town is right in the center of all the action where people can have easy access to fun day trips and panoramic views of the Smoky Mountains. According to Vacasa, the homes are pretty affordable with a median home sale price under $240,000.
Each year the town receives over 30,000 visitors, so those who own vacation homes would be smart to rent theirs out to travelers. Also, Sevierville has underground caverns to explore and is very close to Dolly Parton's amusement park, Dollywood.
Enjoy The Great Outdoors In Killington, Vermont
Killington, Vermont is perfect for a getaway any time of the year. The winter brings world-class skiing and snowboarding, there's a great music festival in the summer, and it's one of the top places in fall to watch the leaves change color. People who love outdoor sports will enjoy their many bike, snowboard, and ski shops as well.
All of these benefits make it seem like buying a house here would cost a fortune, but the median cost for housing is under $209,000. Guests typically spend four nights here with an average nightly rate of $432, so homebuyers who rent out their houses can work toward making a profit.
Davenport, Florida Puts You In Close Proximity To All The Attractions
Buying a vacation home in Davenport, Florida allows people to be in the middle of popular Florida attractions. This central Florida city is in close proximity to world-class golf courses, amusement parks, sports arenas, and a network of lakes. Those who are averse to the cold will enjoy the year-round warm weather.
Most of what's for sale are single-family homes for a little over $255,000 complete with outdoor pools and lakeside views. Since many of the surrounding cities are top tourist destinations it would be smart to rent the home out the days you aren't staying there.
Whittier, North Carolina Has Plenty Of Outdoor Activities
A Smoky Mountain town designed for those who love outdoor activities is none other than Whittier, North Carolina. People can go whitewater rafting, kayaking, or enjoy a relaxing day by the river. It's also close to the Blue Ridge Parkway, which is ranked as one of the best drives in the United States.
Whittier has outdoor activities in the winter as well, such as slopes for skiing and snowboarding. Homebuyers usually end up with a median sales price a little over $171,000 with a high net operating income. This is the average income generated for houses in the area.
Dauphin Island, Alabama Has Prices Other Islands Can't Beat
Something that makes Dauphin Island, Alabama stand out is that it is one of the few epicenters for bird watchers. This tiny island is one of four destinations in North America to witness special bird migrations. Those familiar with the area praise it for its peaceful vibe where anyone can enjoy the sunshine, white sand, and calm gulf waters all day long.
It's also one of the most affordable islands to own a vacation home. A house usually costs around $345,000 and homeowners will have the opportunities to be near attractions such as the Sea Lab's Estuarium and historic Fort Gaines.
A Vacation Home In Myrtle Beach, South Carolina Is A Win-Win
If golf is your thing, then you should consider going to Myrtle Beach, South Carolina. They have over 100 courses to choose from and it doesn't stop there. Their beautiful beaches are great for swimming, sunbathing, jet-skiing, parasailing, and surfing. Also, it might be fun to try your hand at fishing on the pier.
Stepping away from the water, Myrtle Beach has quite a few areas to admire nature with a couple of state parks. Families from all over the country come here for a vacation, so it might be worthwhile to buy a vacation home of your own. Buyers can expect a median cost of less than $214,000.
See The Pacific Ocean From All Angles In Fort Bragg, California
Fort Bragg is located in the Northern California coastal area of Mendocino County. Tourists come from around the world to view the picturesque views of the Pacific Ocean and the wilderness in Jackson State Forest. Guests can walk on the beaches, take a challenging hike, or peruse the unique shops and museums.
California has a reputation for its overpriced housing market, but anyone wanting to buy a vacation home in Fort Bragg will be glad to know it's not impossible. The median sales price is around $449,000 with 8,673 annual visitors.
Snow Bunnies Will Love Big Sky, Montana
Those who go to Big Sky, Montana for the snow should consider themselves lucky. The city has almost 6,000 acres for skiers and snowboarders with the snow reaching 400 inches. There are hardly any crowds because the total population is only a little over 2,300 and the ski resorts offer many luxuries including sleigh ride dinners.
The number of tourists who come to Big Sky is six times the population, so that makes tourism their primary industry. This increase in popularity should encourage potential buyers to purchase a vacation home there before they're all taken. The median cost is $585,000.
How Blue Ridge, Georgia Got Its Name
The town of Blue Ridge, Georgia gets its name from the color of the blue mountain range. There's a river that runs through it for over 100 miles into Tennessee where people can go trout fishing, kayaking, tubing, and more. Other activities the locals recommend include a horse trail ride, hopping aboard the Blue Ridge Scenic Railway (pictured), and camping near the creeks.
The many outdoor activities and flawless scenery are only some of the reasons to buy a vacation home in Blue Ridge. This quaint area charges about $258,000 for a house, which is only $58,000 over the national median.
Why Kihei, Hawaii Is A Prime Vacation Home Location
Hawaii remains one of the most popular vacation destinations in the world and buying a home there could mean having the opportunity for a getaway any time of the year. The town of Kihei in southern Maui draws tons of people due to the warm weather, breathtaking beaches, and bustling nightlife.
Since Kihei is a prime location the housing prices are a bit more than the rest of the United States. The median sales price is around $708,000, but if that seems too high remember that it comes with easy access to the beach and a market to rent the house to over 2,500 annual tourists.
Buying A Vacation Home In Scottsdale, Arizona Is A Good Investment
Located in the heart of the desert is Scottsdale, Arizona. It can best be compared to the desert version of beach towns throughout the United States with tons of hotels, late-night partying, and a booming tourism industry. Their nickname is "the West's most Western Town," so many of their annual events are Western-themed.
Since Scottsdale relies heavily on tourism to keep them afloat it would be wise to invest in a vacation home. They are usually priced a bit over $513,000, so owners looking to make a profit can rent their homes to visitors skipping the pricey hotels and resorts.
Harbor Springs, Michigan Thrives In The Summer
Summer is usually well spent in Harbor Springs, Michigan. The city is great for those who love outdoor sports such as swimming, boating, biking, and golf. It also offers new experiences with numerous festivals, galleries, concerts, theatre performances, and the special M-119 Tunnel of Trees where people can view the massive trees that line the winding roads.
Harbor Springs is right at the center of Lake Michigan and offers plenty of affordable housing options. A vacation house is usually priced around $256,000, which is considered a good deal for what the town has to offer.
Take A Break From City Life In Rhododendron, Oregon
A stay in Rhododendron, Oregon is the furthest someone can get from city life. It's located between Zig Zag and Government Cap and is considered to be one of the most charming small towns in America. The city is in close proximity to many ski resorts and has tons of trails for biking, hiking, and bird watching in the summer.
Rhododendron relies on tourism to keep the economy strong and encourages people to visit all year-round. This Pacific Northwestern town prices homes at a median of a little more than $315,000.
Get Your Money's Worth In St. George, Utah
People flock to St. George, Utah for a multitude of reasons. They appreciate that it's one of the warmest parts of Utah, it has the world-renowned Zion National Park and a historic downtown area. Those who are into arts and culture may be interested in their Art and Concerts in the Park series.
The median home value in St. George is about $242,000 and rental homeowners can expect an average annual income of over $17,000. A large part of their local economy comes from tourism with people visiting the national parks and golf courses year-round.
Spend Spring Break In South Padre Island, Texas
According to Go Banking Rates, a vacation home in South Padre Island, Texas will pay "for itself in less than 11 years." Most of the homes are priced at $290,000, so that doesn't seem too risky of an investment. The island has become quite popular as a resort destination for college students and families on spring break.
The vacation homeowners would benefit from renting their houses during this peak time because places to stay will be in high demand and it's a good alternative to staying at an overpriced resort.
What Anchorage, Alaska Has To Offer
Anchorage, Alaska is just a short drive away from the state's most picturesque glaciers and national parks. Almost half of Alaska's population lives in this metropolitan city and it's where visitors new to Alaska stay as well. The median home price is valued over $298,000, but owners make $22,152 in annual income.
Animal lovers might like to know that Anchorage has quite a diverse wildlife population. It wouldn't be uncommon to see lots of bears, moose, mountain goats, and more. On the first Saturday of March, the city also hosts the three-day Iditarod Trail Sled Dog Race.
What Makes Newport, Rhode Island Special
This seaside getaway has major tourist appeal. A vacation home in Newport, Rhode Island is a bit pricier than other resort towns, but it has its benefits. The median home value is over $433,000 and the average annual rental income is $25,824.
It's famous for the historic mansions, fine dining, the International Tennis Hall of Fame, and New England-style beaches. Newport has the highest percentage of colonial homes in the nation located in the downtown Newport Historic District. Also, they are the "Sailing Capital of the World" with the National Sailing Hall of Fame and several iconic sailing clubs.
Saratoga Springs, New York Is Famous For This
The name for Saratoga Springs, New York comes from the many mineral springs in the area and that's made it a vacation destination for over two centuries. The city is most likely best known for the horse races at Saratoga Race Course, which has been open since August 3, 1863.
Homes are valued at a median price of $329,000 and homebuyers will be able to pay off their purchase after 12 years. Movie fans may also want to check out the town because many films were shot in Saratoga Springs such as Seabiscuit and The Way We Were.
Omaha, Nebraska Is More Affordable Than You Thought
Go Banking Rates stated that Omaha, Nebraska is one of the most affordable places for retirees. Homes are priced at $161,000 and the average rental income is $15,984, so those who don't want to spend too much for a vacation house will find some of the best deals here.
Omaha has several historical and cultural attractions to offer including the 130-acre Henry Doorly Zoo, the College World Series, and the Old Market with shops, restaurants, art galleries, and more. They also pride themselves on being one of the first cities to play rhythm and blues and jazz music.
Galena, Illinois Is A Charming Small Town Full Of History
Galena, Illinois is named after the mineral of the same name that Native Americans had mined for over a thousand years before European settlers arrived. Now, it's a tourist destination known for its history, architecture, and resorts. TripAdvisor even added Galena in its list of the top ten "Charming Small Towns."
Since the town experiences over one million new visitors each year, more people are starting to buy vacation homes there. The median home value is estimated to be a little over $153,000 and has the second-highest rental yield in the country.