Top 10 Beach House Markets to Watch in 2023, According to Vacasa
Are you looking to buy a beach house? If so, you’re in luck! Vacasa, a vacation rental management company, has released its list of the top markets for buying a beach house in 2023. In compiling the list, Vacasa considered a variety of factors, including average home prices, median rental rates, local attractions, and more.
Lake Anna, Virginia takes the top spot on Vacasa’s list of the best places to buy a beach house in 2023. Here’s why:
Located just 90 minutes from Washington D.C. and Richmond, Lake Anna is a hidden gem in the heart of Virginia. The lake covers 13,000 acres and has more than 200 miles of shoreline, making it one of the largest freshwater lakes in the state. It offers a range of outdoor activities, including boating, fishing, swimming, and hiking. The lake is known for its excellent fishing, with largemouth bass, striped bass, and catfish among the most common catches. The lake is also home to a variety of wildlife, including bald eagles, ospreys, and otters.
In addition to its natural beauty, Lake Anna boasts a friendly community and a range of amenities. The lake is surrounded by small towns and communities, each with its own unique character and charm. The area offers a variety of restaurants, shops, and entertainment options, as well as excellent schools and healthcare facilities.
Perhaps most appealing of all, Lake Anna offers affordable real estate prices compared to many other beach house markets. The median home price in Lake Anna is just $385,000, and the median annual gross rental revenue is $69,723. This makes it an attractive option for buyers looking for a second home or an investment property.
Lake Anna’s combination of natural beauty, outdoor activities, community spirit, and affordability make it a top beach house market to watch in 2023.
Here’s the list of the top 10 best places to buy a beach house in 2023 based on Vacasa, along with their cap rates, median home sale prices, and locations:
- Lake Anna, VA – Cap rate 12.1% – Median home sale price $385,000
- Hatteras Island, NC – Cap rate 9.5% – Median home sale price $412,500
- Navarre, FL – Cap rate 8.1% – Median home sale price $370,000
- Palm Coast, FL – Cap rate 7.1% – Median home sale price $345,000
- Surf City, NC – Cap rate 5.8% – Median home sale price $520,000
- Gulf Shores, AL – Cap rate 5.6% – Median home sale price $519,500
- Destin, FL – Cap rate 5.3% – Median home sale price $525,000
- North Topsail Beach, NC – Cap rate 5.3% – Median home sale price $558,000
- Rockaway Beach, OR – Cap rate 4.7% – Median home sale price $400,000
- 30A, FL – Cap rate 4.6% – Median home sale price $640,300
Note: Cap rate refers to the annual rate of return on investment, and is calculated by dividing the property’s net operating income by its purchase price. The higher the cap rate, the more attractive the investment.