16 Best Beach Towns to Buy a House/Apartment in USA
In this article, we will be navigating through the 16 best beach towns to buy a house or apartment in the US. If you wish to skip our detailed analysis, you can move directly to the 5 Best Beach Towns to Buy a House/Apartment in USA.
The Recovering US Housing Market
Homebuyers in the United States are subject to better housing conditions in 2024 as the real estate market is making a recovery. Mortgage rates are cooling down which is lifting pressure from soaring home prices. Builders have expressed a positive sentiment regarding new construction and the overall housing market this year. These conditions are quite different from what the US housing crisis in 2023 had to offer. While many existing homeowners held on to their homes during a period of consistently high home prices and mortgage rates, those who wished to buy a house were pushed out of the market. Furthermore, the national inventory of houses remained unable to cater to the rising demand.
Beach Towns as a Major Attraction
As reported by the National Oceanic and Atmospheric Administration, the US shoreline is 95,471 miles long. This shoreline includes all the coastal states and outlying U.S. territories. This implies that the US has a lot to offer in terms of beach towns. Some of the best beaches in California and the best beaches in Texas could give you an idea about the diversity of the national shoreline.
Other than being a popular attraction among visitors, coastal destinations offer a suitable option to settle in. While some wish to pursue an outdoor lifestyle in waterfront areas, others find the laid-back vibe attractive. Another group that seems to be interested in beach towns is retirees. You can also take a look at some of the cheapest places to retire near the beach.
As mentioned above, affordability has been a major concern in the US housing industry. Home prices have still not returned to their pre-pandemical levels. While an already high cost of housing and living is commonly associated with beach towns, there are many affordable places in the country that are situated by the coast. Most affordable beach towns to live in the US have been previously covered. This especially attracts those Americans who wish to buy a vacation home. The trend of vacation homes emerged during the pandemic when people were given the liberty to work from home. The majority of these vacation homes tend to be located near water bodies and provide all the scenic views and amenities that buyers look out for.
Top Homebuilders in the US
American homebuilders continue to satisfy the needs of homebuyers across the most desirable locations in the country. Some of these include Lennar Corporation (NYSE:LEN), LGI Homes, Inc. (NASDAQ:LGIH), and PulteGroup, Inc. (NYSE:PHM). Let's take a look at what these firms have been up to.
Lennar Corporation (NYSE:LEN) is an American home construction company that constructs affordable, move-up, and active adult homes. The company is also involved in the development of high-quality multifamily rental properties. On February 4, Lennar Corporation (NYSE:LEN) reported that it has initiated sales at its new community along Florida's Gulf Coast. Residents can easily commute to downtown Fort Myers while staying in the new single-family community. Beaches in Southwest Florida can also be visited. Prices for the new homes start in the mid $300,000s.
LGI Homes, Inc. (NASDAQ:LGIH) is another popular American home construction company. It operates across 36 markets in 21 states and has closed more than 65,000 homes in the past. On February 13, LGI Homes, Inc. (NASDAQ:LGIH) reported that it is further expanding Terrata Homes to the north of Tampa by the opening of Southern Hills. The community 'Southern Hills' is based in Brooksville and offers a wide range of amenities such as a clubhouse, tennis courts, pickleball courts, a resort-style pool, a state-of-the-art fitness center, and open green spaces. The pricing for these homes starts from the $720,000s. Those who choose to live in Southern Hills can avail numerous employment and entertainment options in the Tampa market.
PulteGroup, Inc. (NYSE:PHM) serves as one of the largest homebuilders in the US. The company operates in more than 40 of the major US cities and has been successful in delivering 750,000 homes across the country. On February 8, PulteGroup, Inc. (NYSE:PHM) reported that the company's brand Del Webb is opening the clubhouse and amenity center at Carolina Gardens, a Southwest Wake County-based active adult community. Del Webb constructs new homes designed for pre-retirement and retirees. The clubhouse and amenity center will include a fitness center, indoor and outdoor swimming pools, a coffee bar, tennis, pickleball, and bocce courts. Homes in Carolina Gardens start from the $370,000s.
Now that we have taken a look at the housing market in the US, let's move to the 16 best beach towns to buy a house in the USA.
16 Best Beach Towns to Buy a House/Apartment in USA
Our Methodology:
In order to compile a list of the 16 best beach towns to buy a house in the USA, we used a consensus approach. We sifted through multiple sources including Vacasa, Thrillist, Travel + Leisure, and Realtor, to gather a list of all the beach towns that are deemed well for living. Beach towns which were more common across our sources were shortlisted. Please note that the sources have already considered the factors that make these beach towns attractive living options.
As our focus was on the purchase of a house or apartment, we sourced average home prices for the shortlisted beach towns in our list from Zillow. Since apartment data was not widely available and there were not enough apartment listings in many of the beach towns, we used Properstar which gives the apartment price per square meter. Properstar reported the latest apartment prices from January 2024. For beach towns that didn’t have enough apartment listings, Properstar gives access to the apartment price in the county or state in which the beach town is located. Hence, we utilized this data in the absence of enough apartment listings for a particular beach town.
Finally, we ranked the 16 best beach towns to buy a house in the USA in descending order of their average home price, primarily, and the apartment price per square meter, secondarily, prioritizing affordability.
16 Best Beach Towns to Buy a House/Apartment in USA
16. Tiverton, Rhode Island
Average Home Price: $463,229
Apartment Price Per Square Meter: $5,431
The city of Tiverton has an average home price of $463,229 as recorded in January. This price has increased by 5.4% year-over-year. The beach town has an apartment price of $5,431 per square meter. Hence, Tiverton ranks as one of the best beach towns to buy a house or an apartment in the USA.
15. Rockaway Beach, Oregon
Average Home Price: $462,257
Apartment Price Per Square Meter: $4,380
Rockaway Beach ranks as another suitable beach town to settle in. As of January, the average home price in the beach town is $462,257 while the apartment price is $4,380 per square meter. The average home price has gone up by 1.3% year-over-year.
14. Gulf Shores, Alabama
Average Home Price: $451,994
Apartment Price Per Square Meter: $5,218
Gulf Shores ranks as one of the best US beach towns to purchase a house or an apartment. The average home price in Gulf Shores is $451,994 as recorded in January. This price has increased by only 0.2% year-over-year. Furthermore, the beach town has an apartment price of $5,218 per square meter.
13. The Hamptons, New York
Average Home Price: $450,431
Apartment Price Per Square Meter: $8,567
The Hamptons is a known seaside resort place where the average home price is $450,431 as recorded in January. The price of an apartment is $8,567 per square meter. Hence, The Hamptons is a good place for people to settle in a beach destination.
12. Navarre, Florida
Average Home Price: $406,301
Apartment Price Per Square Meter: $4,566
As of January, the average home price in Navarre is $406,301. This price climbed 1.4% year-over-year. The beach town has an apartment price of $4,566 per square meter and ranks as one of the best beach towns to buy a house or an apartment in the US.
11. Mastic Beach, New York
Average Home Price: $396,224
Apartment Price Per Square Meter: $8,567
Mastic Beach has an average home price of $396,224, as of January. This price went up by 9% year-over-year. The apartment price in the beach town is $8,567 per square meter. Hence, Mastic Beach ranks as one of the best beach towns for purchasing a house or an apartment in the country.
10. Morehead City, North Carolina
Average Home Price: $375,323
Apartment Price Per Square Meter: $3,943
Morehead City ranks among the 16 best beach towns to buy a house or an apartment in the USA. The town has an average home price of $375,323 as recorded in January. Furthermore, the apartment price in the beach town is $3,943 per square meter.
9. Delray Beach, Florida
Average Home Price: $354,486
Apartment Price Per Square Meter: $2,634
Delray Beach ranks as another one of the best beach towns to buy a house or an apartment in the country. As recorded in January, the average home price in Delray Beach is $354,486 which has gone up by 1.8% year-over-year. The beach town has an apartment price of $2,634 per square meter.
8. Palm Coast, Florida
Average Home Price: $350,487
Apartment Price Per Square Meter: $2,684
The Florida-based city of Palm Coast is another good option for those who wish to settle in a beach town in the US. As of January, the average home price in the beach town is $350,487 while the apartment price is $2,684 per square meter. The average home price has dropped by 3.4% year-over-year.
7. Galveston, Texas
Average Home Price: $340,152
Apartment Price Per Square Meter: $3,692
Galveston is one of the best US beach towns to purchase a house or an apartment. As recorded in January, the average home price in Galveston is $340,152. This price has gone down by 1.4% year-over-year. The apartment price in the beach town is $3,692 per square meter.
6. Rockport, Texas
Average Home Price: $319,952
Apartment Price Per Square Meter: $3,529
The city of Rockport records an average home price of $319,952, as of January. This price has gone up by only 0.1% year-over-year. The price of an apartment in the beach town is $3,529 per square meter. Hence, Rockport is a suitable beach town to buy a house or apartment in the United States.
Click to continue reading and see 5 Best Beach Towns to Buy a House/Apartment in USA.
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Disclosure: None. 16 Best Beach Towns to Buy a House/Apartment in USA is originally published on Insider Monkey.
