Best City in Every State To Get a Vacation Home for Under $300,000
Owning a second home for either frequent weekend getaways or a long annual vacation sounds appealing, doesn’t it? Though this sort of wishful real estate thinking may seem out of the picture when you visualize your financial future, there are many places where you can still afford a vacation destination for under $300,000. When you are planning your next trip or even your long-term retirement goals, real estate just might be the next investment you should make.
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GOBankingRates recently did a study to find cities in each state where you can still find properties for less than $300,000, based on such factors as number of houses, average home value and household incomes. As this was an assessment of second or vacation houses, this study focused on single-family homes. Here are some key takeaways on why you should consider investing in vacation homes if financially able:
Even though it is more expensive upfront, having a permanent place to stay on vacation will save you money on hotels and other travel expenses in the long run.
You could use your second home as a source of passive income by renting it out when not using it.
If you use it to host your friends and family for holidays or other events it can save everyone money and travel expenses.
It makes getting away or even planning your next trip seem less stressful or financially burdensome.
Not only does buying one give you a change of scenery but there may be certain tax advantages offered on your vacation home.
Here are the best cities in each state to get a vacation home for under $300,000.
Have a little more to spend? Here are the top recommended cities to buy a $1 million vacation home.
Huntsville, Alabama
Population: 215,025
Average home value (single family): $287,351
Household median income: $67,874
Average monthly mortgage payment: $1,683
Total annual cost of living: $43,752
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Anchor Point, Alaska
Population: 2,260
Average home value (single family): $254,858
Household median income: $58,357
Average monthly mortgage payment: $1,492
Total annual cost of living: $45,370
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Kingman, Arizona
Population: 33,052
Average home value (single family): $273,994
Household median income: $56,360
Average monthly mortgage payment: $1,604
Total annual cost of living: $42,847
Marmaduke, Arkansas
Population: 1,513
Average home value (single family): $148,578
Household median income: $48,021
Average monthly mortgage payment: $870
Total annual cost of living: $31,212
Ridgecrest, California
Population: 28,118
Average home value (single family): $275,422
Household median income: $85,872
Average monthly mortgage payment: $1,613
Total annual cost of living: $44,009
Rocky Ford, Colorado
Population: 3,850
Average home value (single family): $150,231
Household median income: $31,418
Average monthly mortgage payment: $880
Total annual cost of living: $32,255
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Willimantic, Connecticut
Population: 17,762
Average home value (single family): $249,255
Household median income: $45,723
Average monthly mortgage payment: $1,459
Total annual cost of living: $42,552
Elsmere, Delaware
Population: 6,194
Average home value (single family): $231,263
Household median income: $70,773
Average monthly mortgage payment: $1,354
Total annual cost of living: $41,417
Tangelo Park, Florida
Population: 2,371
Average home value (single family): $269,225
Household median income: $55,227
Average monthly mortgage payment: $1,576
Total annual cost of living: $44,338
Stone Mountain, Georgia
Population: 6,638
Average home value (single family): $296,710
Household median income: $44,950
Average monthly mortgage payment: $1,737
Total annual cost of living: $47,172
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Pahala, Hawaii
Population: 1,897
Average home value (single family): $292,459
Household median income: $59,432
Average monthly mortgage payment: $1,712
Total annual cost of living: $51,668
Soda Springs, Idaho
Population: 3,124
Average home value (single family): $298,235
Household median income: $44,301
Average monthly mortgage payment: $1,746
Total annual cost of living: $41,944
Jerome, Illinois
Population: 2,194
Average home value (single family): $143,285
Household median income: $52,083
Average monthly mortgage payment: $839
Total annual cost of living: $32,895
Fort Wayne, Indiana
Population: 264,514
Average home value (single family): $235,574
Household median income: $58,233
Average monthly mortgage payment: $1,379
Total annual cost of living: $38,172
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Dubuque, Iowa
Population: 59,315
Average home value (single family): $231,075
Household median income: $63,520
Average monthly mortgage payment: $1,353
Total annual cost of living: $38,410
Manhattan, Kansas
Population: 54,287
Average home value (single family): $272,640
Household median income: $55,316
Average monthly mortgage payment: $1,596
Total annual cost of living: $41,590
Bellevue, Kentucky
Population: 5,596
Average home value (single family): $242,695
Household median income: $66,741
Average monthly mortgage payment: $1,421
Total annual cost of living: $40,545
Metairie, Louisiana
Population: 140,046
Average home value (single family): $296,996
Household median income: $72,070
Average monthly mortgage payment: $1,739
Total annual cost of living: $45,651
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Winslow, Maine
Population: 5,597
Average home value (single family): $281,951
Household median income: $53,896
Average monthly mortgage payment: $1,651
Total annual cost of living: $41,776
Dundalk, Maryland
Population: 66,321
Average home value (single family): $218,926
Household median income: $61,217
Average monthly mortgage payment: $1,282
Total annual cost of living: $40,088
Springfield, Massachusetts
Population: 155,305
Average home value (single family): $285,300
Household median income: $47,677
Average monthly mortgage payment: $1,671
Total annual cost of living: $44,175
Clawson, Michigan
Population: 11,388
Average home value (single family): $289,081
Household median income: $82,713
Average monthly mortgage payment: $1,693
Total annual cost of living: $43,914
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Luverne, Minnesota
Population: 4,910
Average home value (single family): $247,060
Household median income: $66,394
Average monthly mortgage payment: $1,447
Total annual cost of living: $36,948
Ocean Springs, Mississippi
Population: 18,417
Average home value (single family): $265,366
Household median income: $72,500
Average monthly mortgage payment: $1,554
Total annual cost of living: $41,522
Maplewood, Missouri
Population: 8,205
Average home value (single family): $267,270
Household median income: $58,448
Average monthly mortgage payment: $1,565
Total annual cost of living: $41,569
Glasgow, Montana
Population: 3,208
Average home value (single family): $258,448
Household median income: $65,850
Average monthly mortgage payment: $1,513
Total annual cost of living: $39,690
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Bellevue, Nebraska
Population: 63,336
Average home value (single family): $287,459
Household median income: $79,839
Average monthly mortgage payment: $1,683
Total annual cost of living: $44,140
Carlin, Nevada
Population: 2,366
Average home value (single family): $186,168
Household median income: $68,207
Average monthly mortgage payment: $1,090
Total annual cost of living: $37,083
Claremont, New Hampshire
Population: 13,018
Average home value (single family): $258,631
Household median income: $53,697
Average monthly mortgage payment: $1,514
Total annual cost of living: $40,613
Woodlynne, New Jersey
Population: 2,904
Average home value (single family): $185,326
Household median income: $68,125
Average monthly mortgage payment: $1,085
Total annual cost of living: $36,785
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Silver City, New Mexico
Population: 9,650
Average home value (single family): $232,805
Household median income: $36,853
Average monthly mortgage payment: $1,363
Total annual cost of living: $36,825
East Syracuse, New York
Population: 3,065
Average home value (single family): $225,891
Household median income: $52,794
Average monthly mortgage payment: $1,323
Total annual cost of living: $40,547
Greensboro, North Carolina
Population: 297,202
Average home value (single family): $269,906
Household median income: $55,051
Average monthly mortgage payment: $1,580
Total annual cost of living: $40,568
Mayville, North Dakota
Population: 2,102
Average home value (single family): $187,619
Household median income: $67,813
Average monthly mortgage payment: $1,099
Total annual cost of living: $34,014
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University Heights, Ohio
Population: 13,649
Average home value (single family): $266,879
Household median income: $91,960
Average monthly mortgage payment: $1,563
Total annual cost of living: $40,506
Norman, Oklahoma
Population: 127,701
Average home value (single family): $259,886
Household median income: $62,849
Average monthly mortgage payment: $1,522
Total annual cost of living: $42,157
La Grande, Oregon
Population: 13,097
Average home value (single family): $284,479
Household median income: $52,039
Average monthly mortgage payment: $1,666
Total annual cost of living: $41,901
Bellefonte, Pennsylvania
Population: 6,071
Average home value (single family): $291,409
Household median income: $56,008
Average monthly mortgage payment: $1,706
Total annual cost of living: $44,903
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Mauldin, South Carolina
Population: 25,267
Average home value (single family): $294,671
Household median income: $75,565
Average monthly mortgage payment: $1,725
Total annual cost of living: $42,793
Vermillion, South Dakota
Population: 11,667
Average home value (single family): $247,043
Household median income: $47,813
Average monthly mortgage payment: $1,447
Total annual cost of living: $39,144
Johnson City, Tennessee
Population: 70,720
Average home value (single family): $284,664
Household median income: $53,173
Average monthly mortgage payment: $1,667
Total annual cost of living: $41,500
Shiner, Texas
Population: 2,095
Average home value (single family): $297,126
Household median income: $90,119
Average monthly mortgage payment: $1,740
Total annual cost of living: $42,231
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Vernal, Utah
Population: 10,141
Average home value (single family): $284,297
Household median income: $58,869
Average monthly mortgage payment: $1,665
Total annual cost of living: $42,076
Rutland, Vermont
Population: 15,819
Average home value (single family): $269,121
Household median income: $53,304
Average monthly mortgage payment: $1,576
Total annual cost of living: $43,212
Lynchburg, Virginia
Population: 79,166
Average home value (single family): $256,520
Household median income: $56,243
Average monthly mortgage payment: $1,502
Total annual cost of living: $40,293
Aberdeen, Washington
Population: 16,969
Average home value (single family): $277,310
Household median income: $50,008
Average monthly mortgage payment: $1,624
Total annual cost of living: $40,945
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Nutter Fort, West Virginia
Population: 1,700
Average home value (single family): $125,558
Household median income: $56,125
Average monthly mortgage payment: $735
Total annual cost of living: $31,968
Wausau, Wisconsin
Population: 39,906
Average home value (single family): $221,950
Household median income: $59,259
Average monthly mortgage payment: $1,300
Total annual cost of living: $37,304
Casper, Wyoming
Population: 58,631
Average home value (single family): $291,922
Household median income: $67,011
Average monthly mortgage payment: $1,709
Total annual cost of living: $45,746
Caitlyn Moorhead and Jami Farkas contributed to the reporting of this article.
Photo disclaimer: Photos are for representational purposes only. Some photos are of the closest major city outside of the city mentioned it the article.
Methodology: For this study, GOBankingRates analyzed cities in each state to find the best place to buy a vacation home for under $300,000. First, GOBankingRates analyzed single-family home average values from June 2024 as sourced from the Zillow Home Value Index. All the locations under $300,000 were kept for this study. Using AreaVibes.com, the livability index for each city was found and the city with the highest livability in each state, with an average home value under $300,000 was kept for this study. For each city, several factors were found including; total population, total households and household median income, all sourced from the U.S. Census American Community Survey. The cost-of-living indexes were sourced from Sperlings BestPlaces and using the national average expenditure costs, as sourced from the U.S. Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost for each city was calculated. Using the average mortgage cost and the average expenditure cost, the total cost of living can be calculated. District of Columbia and Rhode Island did not have cities with an average home value under $300,000 and therefore were not considered for this study. All data was collected on and is up to date as of July 30, 2024.
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This article originally appeared on GOBankingRates.com: Best City in Every State To Get a Vacation Home for Under $300,000
