US: ShortTermRentalz spoke to Vacasa Real Estate senior director Shaun Greer about his company’s recently published report on the best places to buy a beach house vacation home this year.
What are the Best Places to Buy a Beach House according to Vacasa?
Vacasa has published its list of the Best Places to Buy a Beach House in 2019. The company ranked beach towns in key vacation rental markets it serves based on investment return summarised by cap rate, which is the ratio of a property’s net operating income over its cost.
Topping the list is Ocean Shores, a small town along the coastline of Washington state most known for its long stretch of sand and opportunities to dig for razor clams. Cap rates in Ocean Shores top out around 7.6 per cent, and with a median home price of around $240,000, buyers can look forward to steady returns.
Coming in at second place is Myrtle Beach, South Carolina, which is vastly different than Ocean Shores, but produces similar stats with a 7.4 per cent cap rate and median home cost around $250,000. Here, short-term rental guests have a variety of activities to choose from including deep-sea fishing, cruising the boardwalk, and dolphin cruises, so guests will look for a place to relax at the end of a long day.
Rounding out the top three, the first, but not last Florida market makes its appearance.
Panama City Beach and Santa Rosa Beach boast big inventory for those looking to buy a beach house with more than 13,000 vacation rentals in the area. Combined with a solid cap rate of 6.1 per cent and median home price around $420,000, the Emerald Coast is a great place to look around.
Vacasa’s report, which includes multiple markets along the Gulf Coast, can be found here. Read on for more information and also check out the vacation homes one can take for a test drive this summer.
Follow the link to our recent interview with recently appointed Vacasa director Matt Roberts here.