Summer is almost here, and for those who want to hit the beach and make some money, vacation rental giant Vacasa on Friday revealed the very best places in the U.S. to buy a house on the coast.
Vacasa’s new beach house report identifies Cape Hatteras, North Carolina, as the top spot for a beach house. The area is part of Hatteras Island and is dotted with homes that are just feet from the ocean. According to Vacasa, the area has a median home sales price of $379,248.
The report adds that Cape Hatteras also has the tallest brick lighthouse in the U.S. and is surrounded by beach towns.
Vacasa’s report is based on a variety of housing data, which it combined with rental property performance stats. In other words, it identifies the best places to own a beach house for people who will rent out their property at least part of the time. And that’s where Cape Hatteras really excels.
“With a whopping 8.6 percent cap rate, visitors flock to Cape Hatteras for family reunions and larger gatherings — and for good reason,” the report notes. “Inventories of larger homes that sleep six to 16 people are plentiful in the area, making it a perfect place to reconnect with loved ones.”
Here are the other cities on Vacasa’s list:
2. Ocean Shores, Washington
Cap rate: 7.8 percent
Median sales price: $250,255
3. Dauphin Island, Alabama
Cap rate: 7.8 percent
Median sales price $289,623
4. New Buffalo, Michigan
Cap rate: 7.1 percent
Median sales price: $319,306
5. Corolla, North Carolina
Cap rate: 6.9 percent
Median sales price: $560,599
6. Kauai South, Hawaii
Cap rate: 6.2 percent
Median sales price: $593,554
7. Isle of Palms, South Carolina
Cap rate: 5.8 percent
Median sales price: $708,920
8. Wailea, Hawaii
Cap rate: 5.6 percent
Median sales price: $885,086
9. South Kohala, Hawaii
Cap rate: 5.6 percent
Median sales price: $639,908
10. Bolivar Peninsula, Texas
Cap rate: 5.6 percent
Median sales price: $299,354
In addition to identifying profitable markets for vacation rentals, Vacasa’s report notes that the firm recently conducted a survey and found that 57 percent of its guests were planning a beach trip in the coming months.
Vacasa has become a dominant force in the vacation rental industry in recent years. The company was founded a decade ago and by 2018 was the largest vacation rental management company of its kind in North America. It has since grown larger still via a series of acquisitions.
