Invest in Property in These Up-and-Coming Beach Towns Before Prices Rise
Owning a property in a beach town can be a great investment. Not only can you and your family relocate there, but you can opt to use it as a vacation home and rent it out for extra income when you’re not occupying it.
Beach properties can be expensive, though, which is why many people pump the brakes once they start home-shopping near the sea. But if you’ve always wanted to own a home at the beach, whether for yourself or as an investment property, now’s your chance.
These six up-and-coming beach towns have properties you can invest in that won’t break the bank. You’ll probably want to make your move soon, however — before prices rise.
New London, Connecticut
“While Connecticut is a little more expensive now, there are still properties in the area which are surprisingly cheap and could go as low as $150K,” said Shaun Martin, owner and CEO of We Pay Cash for Houses. “This is brought about by the less attention of tourists to consider this as an official beach trip destination. Strategic investors usually go for investments like this, especially when they see the huge potential of the place to flourish and grow. It’s also less crowded, which means you can buy more properties all at once, and monopolize the place for property investments. If you wait for the place to be as civilized or popular before investing, the flip side is the higher prices already.”
Typical home values in New London are $248,781, which equals a 10.5% increase over the past year, according to Zillow.
Mastic Beach, New York
“Mastic Beach is on the up and up, so now is a good time to get in before more investors realize what a gem it is,” said Nate Johnson, a real estate investment expert and product manager at NeighborWho. “Beach homes here are a cheaper alternative to the nearby Hamptons and the city itself is a great place to explore as a part of New York that many tourists don’t see. There are wineries nearby and you can find a variety of cuisines in the area. This is another great beach town to put on your list before it becomes more popular.”
Typical home values are $369,954 and have increased 12.4% in the past year, according to Zillow.
Port Arthur, Texas
“Port Arthur has low home costs and the cost of living is generally affordable,” said Johnson. “The city also boasts plenty of historic monuments and museums for residents and visitors to enjoy. There’s also an abundance of fishing and outdoor activities for those who love a healthy dose of nature. This is a great place to invest if you want a laid back and cost effective option.”
According to Zillow, typical home values in this coastal town are currently $94,461, which is a one-year increase of 12.5%.
“This town is a gold mine for families and retirees because it is one of the most affordable cities in Florida and has a lot of parks — perfect if you have kids or are living the retired lifestyle,” said Eyal Pasternak, a real estate investor and the founder of Liberty House Buying Group, as well as a licensed Realtor in Florida.
“The real estate market is going to experience a boom soon because more people are coming from nearby cities like Orlando to live a peaceful, suburban life here. Although the demographic of clients is mostly middle-aged to retired people, it is also going to become a hub for a lot of new families as Gen Z and millennials enter into the housing market. Inventory isn’t limited as in most big cities, so this is perfect for buying and holding.”
Typical home values in Titusville are $284,253, according to Zillow, which reflects a 26.5% increase over the past year.
Rockaway Beach, Oregon
“Rockaway Beach on the Oregon coast has long been a well-liked holiday destination thanks to its seven miles of sandy beaches,” said Corey Tyner founder and president of Buy Yo Dirt. “However, unlike well-known communities like Cannon Beach, Manzanita and Seaside, this picturesque Oregon region has remained mostly undiscovered, so tourists and second homeowners may enjoy less congestion.”
Tyner added, “During the day, many choose to go crabbing, whale watching, hiking, and kayaking, and once the sun sets, many people gather around bonfires on the beach to take in the starry skies. Compared to Cannon Beach, where the average sales price is $930,000, Rockaway Beach has a far lower average sales price.”
According to Zillow, typical home values in Rockaway Beach are $408,749, which have increased 14.8% over the past year.
Wendy Waller, real estate broker and owner of Emerald Coast Real Estate, said that Pensacola is known for its live music and recreational activities for children. She also said that the town has the same beaches as Seaside and Rosemary Beach for one-third of the price.
The typical value of homes in Pensacola is $249,001, according to Zillow. That’s a 24.2% increase within the past year.
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