7 Best Places to Purchase Coastal Property in 2024
The real estate market is making a massive recovery. The effects of the global pandemic are slowly working themselves out as housing prices continue to rise due to supply and demand. That being said, plenty of smaller or more affordable towns with coastal properties are available.
Whether you are looking for a summer home to take the grandkids, a rental real estate investment in a high-traffic area, or just a quiet residence to continue your work-from-home career, this list of 2024 best places will help you get started.
#1 – Hampton, VA
Seeking a coastal property along the Mid-Atlantic region is challenging if you want to stay close to a major city. Instead, seek out the rural community of Hampton, VA, where you are close to modern beach amenities, historical sites, and all the fishing you could ever want.
The median home value sits at around $267,242, an 8.5% increase since last year. In addition, you get up close and personal with entertainment venues like the American Theater, Peninsula Fine Arts Center, and easy commuting to NASA, Langley, and Hampton University.
#2 – Port Saint Lucie, FL
It shouldn’t be surprising that Florida is on our list of top coastal properties to invest in real estate in 2024. However, we don’t want to be in the bigger cities where crime and rental businesses are plentiful.
A good alternative is the small town of Port Saint Lucie. It is about an hour from West Palm Beach with Botanical Gardens, a world-renowned Riverwalk Boardwalk, and all the blue water you could want for boating and swimming. The median home value is $399,931, up 3.5% over the past year.
#3 – Newport, OR
Let’s take a trip over to the West Coast and consider the moody beach town of Newport, OR. You can find everything from old-school lighthouses to high-end waterfront dining while watching the whales breach the water in the distance.
The median home value in Newport is $470,915, up 2.8% in the last year. It has a small-town feel in a family-friendly atmosphere, and modern scientific research centers related to biology, fishing, and environmental studies are nearby.
#4 – Grand Haven, MI
When looking for worthwhile coastal properties, you don’t want to restrict your search to only the East and West coasts of the country. Plenty of property is available along the Great Lakes region, including Grand Haven, MI.
Here, the median home value is $352,170, a 0% change from the previous year. This is one of the lower-cost territories in an area widely recognized as one of America’s Greenest Cities.
#5 – Hilton Head, SC
If you prefer seeking a coastal property that can grow in value and be used for lucrative rental income, you may want the picturesque Hilton Head, SC. The beaches around this area are frequently ranked at the top of most U.S. lists. Combine that with incredible golf courses, beautiful landscapes, and some of the best food you can imagine, drawing in tourism from around the world, and you have a ripe recipe for rental success.
The median home value in Hilton Head, SC, is $771,881, up 6.5% over the past year. This is a high-value area, so be sure to have your funding well lined up before beginning your coastal property search.
#6 – Galveston, TX
So many investors seem to forget that a good chunk of the great state of Texas sits on coastal property. Galveston is one of the most well-known cities for fun activities, tourism, and incredible waterways. It is also home to a major water park known as Schlitterbahn.
The median house value in Galveston is around $353,380, down 0.1% from the previous year. However, the mix of short-term and long-term properties makes this area an investor’s dream world. You just need to be sure you’re using a premium quality home inspector, so you have a solid idea of what needs to be repaired before renting the property.
#7 – Dauphin Island, AL
We’re going to cap off our list of incredible coastal properties to invest in during 2024 with the stunning area around Dauphin Island, AL. With a median home value of $484,122, up 1.5% over the past year, you can get a lot of house for your spending cash.
The white powder of the sandy beaches along this island breakwater is home to an Audubon Bird Sanctuary and historic Fort Gaines. You’ll find a vibrant artist community and fishing industry that drives infrastructure with a robust tourism sector for capital investment. Overall, this is a strong contender in southern territory that is worth considering for your next real estate purchase.
Wrapping Up
Finding coastal property for your retirement plan, short-term rental, summer home, or family residence doesn’t have to be as complex as you may imagine. As long as you do your due diligence ahead of time and start with a well-researched list like ours, you should have no problem uncovering a hidden gem.
Take your time to really explore all the above-listed areas have to offer, and don’t forget to have fun. It is lovely to envision sipping drinks on the beach, riding your boat into the sunset, or simply enjoying a good book on your renovated porch as you listen to the waves lazily lapping up on the beach near your new coastal property.