Best places to buy a beach house 2023

This year’s number one destination is the second largest lake in Virginia, stretching 17 miles long with sparkling water and sandy beaches. Lake Anna is split into two sections: a public side with waterfront restaurants, marinas, and boat launches, and a private side where no commercial operations are allowed. Summer is an obvious choice for vacationing on the lake, but hiking through the colorful trees along the lakeshore in the fall is a must-see experience. Homes on the lake stretch across three counties with plenty of waterfront options that offer a splashy cap rate of 12.1% for homeowners.

Another market that was (beach) bound to make this list is the sunny coastal destination of Hatteras Island. Made up of seven villages and one National Seashore, this area draws more than 2.5 million annual visitors¹. It’s known for evoking a different time, before the world became familiar with the Outer Banks, and offers a more rugged place to relax, ride horses on the sand, or even climb a lighthouse for the perfect sunset shot. If searching for a vacation property on Hatteras Island, one of the area’s homes (stilts optional) will run around $412,500.

Located just east of Pensacola lies a small beach town with big appeal. Here, relaxation is the name of the game, and visitors can mostly be found sunning and swimming in the area’s emerald waters. In fact, according to Visit Florida, guests crossing the Navarre Beach Bridge often describe it as “a transcendence into paradise” due to the town’s zen-like state. If you’re able to scoop up a spot on the sand in Navarre Beach, the median home sale sits at about $370,000, and boasts a 8.1% cap rate to boot.

Perched between St. Augustine and Daytona Beach along the scenic Route A1A, the Palm Coast is a paradise of golf courses, lush nature preserves, and golden sand beaches. According to the Flagler County Tourism Development Office, almost 1 million visitors flock to this balmy shorefront every year². If you’re in the market to purchase a vacation home along the Atlantic Ocean, a Palm Coast property will cost around $345,000, with a cap rate of 7.1% that could help offset costs.

Laid-back beaches, a small-town vibe, and seaside nostalgia—that’s what wins over travelers in Surf City. This quaint beach town is the heart of Topsail Island, a 26-mile barrier island of continuous sand and surf. By day, guests explore old-fashioned shops, play on beaches, and fish off the pier jutting out into the Atlantic. By night, they’ll dine on coastal Carolina cuisine paired with a stunning sunset. You’ll pay around $520,000 for a vacation home, then enjoy approximately $50,000 in annual gross rental revenue, equaling a 5.8% cap rate.

Boasting over 32 miles of sandy white beaches, Gulf Shores is pure paradise on the Alabama coastline. However, this family-friendly mecca is more than just a stunning beach. Just take a look at all the award-winning restaurants, championship golf courses, amusement parks, and water sports that entertain a whooping 8 million guests every year³. However, the best reason to buy: A Gulf Shores vacation home or condo can cost around $520,000 and yield $49,000 in annual gross rental revenue with a 5.5% cap rate.

Every year, close to 5 million visitors descend on Destin and surrounding areas of Florida’s Emerald Coast⁴. It’s easy to see why, with its bright white shores (actually made up of naturally cooling Appalachian quartz), sun-drenched golf courses, waterparks, fishing (Destin Harbor is home to the largest fishing fleet in all of Florida), and endless opportunities to play in the warm Gulf waters. Vacation homeowners also have a lot to love. About 62% of overnight visitors book their stays at vacation homes and condos⁴.

North Topsail Beach is just the place for those looking for coastal calm. Some may even call it a sanctuary. And in fact, this area is a sanctuary—for sea turtles, who descend on their shores every year to safely nest and hatch their eggs. Just 15 minutes from its more vivacious neighbor on Topsail Island—#5 on this list, Surf City—North Topsail Beach lures guests with its quiet expansive beaches, peaceful maritime forests, and marvelous sunsets over the Atlantic Ocean. They lure smart homebuyers too, with a median vacation home price of $558,000 and almost $50,000 in annual gross rental revenue.

The Oregon Coast isn’t exactly known for sun-drenched allure as most other beaches are. But it does win the hearts of those who prefer windswept shores and a cooler climate, ideal for cozying up. Instead of sunning on the warm sand, guests along Oregon’s coastline can storm-watch from the comfort of their vacation home, perusing the local shops, or grabbing a beer at one of the area’s popular breweries, dog in tow. Median annual gross rental revenue, though, is on par with other best coastal towns to invest in, at $39,350.

Considered a secret coastal playground by many Southerners, 30A is a collection of sun-kissed beach towns nestled along Scenic Highway 30A, between Destin and Panama. Here, the towns are so idyllic they were used to depict the quintessential life in The Truman Show. Take one look at the powdery-white sand, aquamarine waters, and breezy palms, and you’ll see why visitors return year after year to this 20-mile stretch on the Emerald Coast. Your return on a real estate investment here can be just as blissful, with a cap rate of 4.6%.