Top 10 best places to buy a winter vacation home 2022-2023

With crystal-clear water and snow-capped mountains creating a breathtaking backdrop, it is no surprise that Wallowa Lake, Oregon, is the number one place to buy a vacation home this winter. The area is a peaceful winter wonderland offering plenty of snow-filled activities like hitting the nearby slopes or catching the Eagle Cap Extreme Sled Dog Race, but come summertime, boats and swimmers will be splashing about. Though the city of Joseph has stricter permitting limits, the surrounding area is a year-round travel destination that appeals to buyers, with a strong cap rate of 9.9%.

The ski towns within the Poconos region are moving up one spot from our 2021 Best Places to Buy a Winter Vacation Home report to claim the #2 ranking. Considering the long list of local draws, including modest mountains, deep snow, fast lifts, and impeccably groomed trails, it’s no wonder Poconos ranks on our list for the third year in a row. The median home price is still under $300,000, making it an attractive buy for first-timers in the market for a winter investment property.

Bordering Utah and Idaho, this freshwater lake is surrounded by two mountain ranges and is known to many as “The Caribbean of the Rockies” for its brilliant turquoise waters. When winter rolls in the lake freezes over and becomes one of the most popular ice-fishing spots in Utah, where fishermen flock for cutthroat trout. But that’s not all—the area also offers ideal terrain for snowmobiling across miles and miles of fresh powder-covered trails. Family fun at Bear Lake is conveniently a short two-hour drive from Salt Lake City and could bring in an annual gross vacation rental revenue close to $50,000.

South Fork is a hot spot for outdoor adventure located in the foothills of the San Juan Mountains, with the Rio Grande and South Fork rivers running through town. A short 25-minute drive will take you to Wolf Creek Ski Area which is known to have the “most snow in Colorado” with 255 miles of winter recreation trails. The altitude of South Fork (at 8,200 feet) isn’t the only thing about the town that’s higher-than-average: a short-term rental here could also deliver a healthy cap rate of 5.5%.

Tucked into the Blue Ridge Mountains of North Carolina’s High Country, Banner Elk is nicely situated between two major ski resorts—Sugar Mountain and Beech Mountain Resort—keeping skiers and snowboarders on their toes with a wide variety of terrain. One has North Carolina’s only double Black Diamond run, and the other offers the state’s only mountaintop sky bar. Banner Elk landed on our 2021 Best Places to Buy a Winter Vacation Home, and has bumped up five spots from last year with a cap rate just under 5%.

Ludlow has moved up two spots from its #8 ranking on last year’s Best Places to Buy a Winter Vacation Home report. As home to the Okemo Mountain Resort, the area is recognized for its world-class amenities and terrain options for all levels of skiers and snowboarders. Fun fact: the town of Ludlow has also seen a notable year-over-year jump in travel demand, landing a spot as one of our trending vacation destinations in Vacasa’s 2022 Holiday/Winter Travel Trends.

Warren is home to the Sugarbush Resort, one of the largest ski resorts in New England. Its expansive slopes extend across Lincoln Peak and Mount Ellen, with varying difficulties for both beginners and pros. But there is more to Warren than just skiing—the town has cozy coffee shops and plenty of eateries and craft breweries to explore. That, plus the town’s affordable median home cost of just under $370,000, makes it a great place to welcome guests looking to enjoy the charms of an East Coast winter.

This quaint Alaskan mountain town is the ideal winter escape and is conveniently located less than an hour from the Anchorage airport. Hit the slopes on Alyeska Mountain, strap on a pair of snowshoes to see the frozen waterfalls of Winner Creek Trails, or explore the flatter terrain of Moose Meadows. After a chilly day of outdoor activities, bundle up next to the fire with a cup of hot cocoa in your own winter haven—an investment that, on average, could gross over $40,000 in revenue.

Teton Village is a community located at the foothills of the Teton Mountain Range and home to the world-class Jackson Hole Mountain Resort. For a more mellow pastime, take a tram ride through the mountains for unbelievable sights or head to one of the nearby spas to unwind. The area may be known for its winter activities but it is full of summertime adventure as well, with intense mountain biking, evening gondola rides, and outdoor mountainside dining. Though all these perks do make for a higher median sale price, the annual gross rental revenue could bring in more than $100,000.

Lake Pend Oreille is the largest lake in Idaho, surrounded by the Rocky Mountains and miles of national forests. When snow season hits, Schweitzer Mountain Resort is considered by many as the best skiing in Idaho with over 2,900 skiable acres to explore. Plus, the surrounding state parks are the perfect place to cross-country ski if downhill slopes are not your forte. This destination rounds out our top ten list of Best Places to Buy a Winter Vacation Home with an icy annual gross revenue of nearly $50,000.