8 Places Where Cheap Vacation Homes Still Exist
Aspen, Nantucket, Maui—homes in the most popular vacation destinations come with multimillion list prices. But scattered across the country, along less-famous but still gorgeous stretches of sand and tucked away in quiet forests or near scenic mountain ranges, are under-the-radar vacation destinations where you can score cheap real estate if you’re in the market for a second home.
The median home price in the United States right now is $442,479, according to Redfin, and interest rates on 30-year, fixed mortgages have been hovering around 7 percent—more than double what they were when they hit historic lows in 2021. Unfortunately, if you’re looking to buy a vacation home (and you’re not coming to the closing table with an all-cash offer but rather financing the property), rates tend to be slightly higher on second home purchases. On the bright side, as high interest rates sideline buyers, you may have a larger selection of inventory in some markets. Plus, there are plenty of vacation towns where homes go for well under the national average, with median values in the $200,000 to $300,000 range.
When you’re zeroing in on destinations to buy a vacation home, it’s important to consider factors like whether you’ll be able to maintain it from afar and if it’s easily accessible from your primary home, Danielle Gustafson, a St. Augustine, Florida–based real estate broker associate with ONE Sotheby's International Realty, says.
If you plan on offsetting the costs of your vacation home by renting it out when you’re not using it, you’ll also want to work with a real estate agent who’s familiar with short-term rental regulations in the area, Gustafson points out. While some cities may allow you to rent out your place on a platform like Airbnb, others may have restrictions. For example, the HOA in a particular community might have rules against short-term rentals.
For this list of gorgeous, little-known spots where you can find cheap vacation homes, we consulted with vacation rental companies like Evolve and Vacasa and looked for destinations where inventory was on par with the national median home price—but most spots on this list are well below it. Keep scrolling to discover eight picturesque places in the United States where you can still find vacation homes for cheap.
For more vacation inspiration:
7 Countries Where It's Ridiculously Easy for Americans to Buy Real Estate
11 Underrated Resort Towns That Are Perfect for Your Next Vacation
Hocking Hills, Ohio
Median Sale Price: $250,000
Hikers can dip into caves and cool off in the mist of waterfalls in Hocking Hills, a scenic swath of southeastern Ohio that’s known for its magical state park, dark skies, and lush forests that light up with fall colors. Evolve, a vacation rental management company, ranked the Hocking Hills region as the best place to buy a cabin vacation rental, with a focus on towns like Logan, Hamden, and Amanda, which is to say you could rake in some serious cash by renting out your place when your family isn’t using it.
Finger Lakes, New York
Median Sale Price: $194,000 (*Cayuga County)
New Yorkers are no strangers to the Finger Lakes region, but the rest of the country might be surprised to find out you can snap up a vacation home for under $200,000 in this part of upstate New York. An affordable alternative to the multimillion-dollar homes in East Coast second-home markets like the Hamptons and Montauk, vacationers in the Finger Lakes region can fill weekends with wine tours, boating, or swimming on the freshwater lakes or hiking to waterfalls.
Muskegon, Michigan
Median Sale Price: $177,000
A few hours from Chicago and Detroit, Muskegon has 26 miles of beaches, with shores and waterways busy with locals playing volleyball and kiteboarding. Don’t sleep on a winter getaways here either: Brave the cold and channel your inner Olympian at the Muskegon Luge Adventure Sports Park, which has ice luge tracks and groomed ski trails, including some that are open at night so you can schuss in the snow under the moonlight. Not surprisingly, home prices go up the closer you get to the water, but buyers can still score spacious lakefront properties in the $800,000 range.
Gulf Shores, Alabama
Median Sale Price: $460,900
Colorful beach houses and cute condos within walking distance of the ocean are a fraction of the price along Alabama’s Gulf Coast as they are in popular beach towns dotting New England or the high-dollar real estate along California’s Pacific Coast. Gulf Shores and its next-door neighbor Orange Beach are popular destinations for families because of all of the family-friendly attractions, from a Ferris wheel to miniature golf courses to dolphin-spotting cruises and restaurants with games to play while you wait for your coconut shrimp to be served. Those looking for second homes will find lots of coastal homes along the peninsulas and canals here too.
Lake Anna, Virginia
Median Sale Price: $405,000
Lake Anna topped Vacasa’s list of best places to buy a vacation rental last year. The vacation rental company highlighted the destination’s public side, where there are waterfront restaurants and marinas aplenty, and more private side for homeowners. If you live in Washington, D.C., Richmond, or Charlottesville, Lake Anna is an ideal spot for a second home because it’s reachable in under two hours. With 200 miles of shoreline, Lake Anna is a popular spot for stand-up paddleboarding, kayaking, and zipping around on jet skis. The destination is also lucrative for those who rent out their vacation home, with Vacasa estimating you could reel in $64,000 a year in gross revenue.
Hot Springs, Arkansas
Median Sale Price: $245,000
Arkansas’ nickname is The Natural State, and Hot Springs is a shining example as to why. The namesake national park is braided with 26 miles of tree-covered hiking trails, and the town’s visitor center has a fountain where you can fill up your jug with the natural, mineral-rich spring water. In addition to the scenery, the downtown is rich with mafia lore (Al Capone hid out in Hot Springs) and has historic bathhouses (seen here) that pump in the hot springs water.
Rockaway Beach, Oregon
Median Sale Price: $345,125
Oregon’s moody and scenic stretch of coastline is dotted with whale-watching lookouts, lighthouses, crab shacks, and lush forests with pine-scented air. Vacasa put Rockaway Beach on its list of the best places to buy a vacation home, pointing out that it’s just 90 minutes from the Portland airport with windswept shores that are great for clamming and crabbing.
Pagosa Springs, Arkansas
Median Sale Price: $325,000
The cost of real estate in Colorado has been steadily climbing, and homes in popular ski destinations like Aspen, Vail, and Beaver Creek sell for millions. But Pagosa Springs, which is in the southern part of the state and about 25 miles from the Wolf Creek Ski Resort, remains relatively affordable with ample inventory of homes and cabins in the $300,000 to $400,000 range, as well as lots for sale should you want to custom build your own house. Pagosa Springs’ best amenity? Hot springs that bubble up and provide scenic, mineral-rich soaks.
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