If you’re planning to buy your first home or purchase an investment property for rental, it’s important to take into consideration where you’ll likely to get the most out of your investment. Our team at MyState MLS ranked the U.S. cities that offer buyers the most affordable properties near water. Although places like Malibu and the Hamptons as well as Malibu weren’t included on the list, beach towns that were included are a mix of small towns and major cities. Here are the top ten cheapest cities to buy or sell real estate near water as we swim into the spring of 2024:
Gulfport (and Biloxi) Mississippi
While you may not know intimately about the Gulfport, Mississippi, area, many are associated with the military or seeking active retirement. Gulfport is home to historic air and naval bases, as well as retirement homes built explicitly for that of the armed forces. It has been often said that families that have had the pleasure of being stationed in the area often move back there. The reason is that coastal Mississippi has everything you could want in a beach town without heavy visitation from tourists and more transient guests. Pair that with an overall lower cost of living and the right to gamble, and you’ll find that Gulfport is a pleasant place to retire or raise a family. Properties listed in Gulfport & Biloxi are nicely priced in the low $200k range.
Newport News, Virginia
One of the more northern beach towns of Virginia, Newport News has a surprisingly dense suburban feel with dozens of restaurants, state parks, and shops, which is often perfect for those looking to invest in either a long-term rental for beachgoers or as a nice getaway from the hustle and bustle of major metropolitan areas. Most residents have discovered that this larger-than-average “beach town” is ideally located less than a few hours away from places like Washington D.C. and other major attractions (like Virginia Beach, only about 30 minutes away). With the overall value of homes sold climbing in the areas surrounding Newport News, it seems like the best of both worlds for either investors or second-home buyers. Real estate listed in Newport News are nicely priced in the mid to low $200k range.
New London, Connecticut
Many see Connecticut as a gateway to the Empire State, which is New York. That’s partially true because many people live in Connecticut and commute to New York. That said, New London, Connecticut, is not only centrally located between New York City and Boston but also on the Atlantic Ocean. The overall feel of the area is similar to that of a traditional Cape Cod-style town, with great shops, restaurants, and historic venues where the city of New London stages different festivals nearly every month of the year. For real estate investors and second home buyers looking for passive income opportunities, remember that New London is a blessing and a curse, primarily because the town gets busier than most, making it a low-risk in cash flow potential. Homes listed in New London are nicely priced in the mid $200k range.
Grand Isle, Louisiana
When you think of real estate in Louisiana, you may think of the famed and often overcrowded (Mardi Gras) city of New Orleans. Just a few minutes southwest, you can find a far more peaceful and majestic place to either call a second home or a quality passive income stream. Welcome to the Grand Isle, Louisiana, a beach town teaming with wildlife and off the beaten path as far as beach towns go. The general feel of Grand Isle is that of a small village year-round, hosting a self-proclaimed “sportsman’s paradise” year-round. While this small town does boast as a major tourist attraction (think Jackson’s Hole as opposed to Key West), it makes up for it with its ease of access to some of the best fishing in the south. Real estate investors should consider the Grand Isle if they’re in the market for a low-key second or vacation home they can call their own.
Corpus Christi, Texas
Just south of Houston is an ever-growing small town called Corpus Christi, Texas. While the population is more significant than many beach towns, real estate investors should consider that Corpus Christi has everything a potential buyer wants. To that point, the weather is surprisingly cooler than most of Texas because it sits right on the Gulf, the food and restaurant life is lively and delicious, it is close enough to the border of Mexico to take a day trip, and the overall price point in the area is more than reasonable (right around $300k).
Atlantic City, New Jersey
While the city of Atlantic City has always had appeal to tourists and vacationers alike, in many cases, people are drawn to the famous Nathan’s hot dog eating contest, many to the extensive boardwalk, others to the ability to freely gamble and experience the nightlife; whatever to reason, Atlantic City became somewhat of an east coast version of Las Vegas a short drive away. That said, what was once one of the most prestigious locations for live entertainment has fallen from its fame a little further than anyone could have expected. Today, much of Atlantic City has become poverty-stricken, leading to less of an exciting place to visit on vacation and more of a day-trip destination (the summers are still super lovely). These examples and a few others have aided in lowering the overall current value of real estate in the area. Still, lower valuations often give second-home hopefuls and potential real estate investors a shining opportunity.
Navarre, Florida
Just west of more well-known Destin, Florida, Navarre has become the lesser-known but just as magical paradise that many Florida beaches have become known for. Navarre is semi-typical of your average beach town, with a little flare. Nestled right on the Gulf of Mexico, Navarre’s beaches are tranquil and clear, clean and covered with white sand for as far as the eye can see. As for the weather, Navarre sports some of the calmest surf and cooler than average weather than many of the southern state beaches. Real estate investors and home buyers will find slightly lower-than-average prices than many more prominent and busier beach towns down the street.
North Beach, Maryland
Most visiting Maryland for fun in the sun visit locations like Ocean City. While Ocean City, Maryland, certainly is entertaining, it is also often overly crowded, expensive, and a bit underwhelming when you don’t take in the sights of the famed boardwalk. Slightly southeast and just on the other side of the Chesapeake Bay sits North Beach, Maryland. North Beach is a smaller, more tranquil version of Ocean City. Additionally, North Beach is just south of Annapolis and about an hour away from D.C. and Baltimore. With an average home value of just under $300k, North Beach gives you access to major metropolitan areas while providing the peace and scenery of a small beach town!
Crescent City, California
If you’re looking for a real estate property close to the beach as well as ample access to state and city parks, Crescent City, California is probably going to make it closer to the top of our list. It’s true, Crescent City is a bit off the beaten path, with its closest major metropolitan cities being either Sacramento or Portland, Oregon. That said, Crescent City is quiet and tranquil, surrounded by tall redwoods and friendly residents (though many residents rent out their homes to vacationers and weekend nature lovers). The price holds up pretty well for a California town prices out at just under the national average on average.
Shirley, New York
Last but certainly not least, if you want to find a Hamptons-type location without the price tag, Shirley, New York may be the best small beach town that’s somewhat secluded for a reasonable price tag. The real estate market here has never really quite taken off like The Hamptons of the north, or even that of Fire Island of the south. That said, it is one of the few New York beach towns you have to travel through a county park to get to. Though Shirley isn’t directly on the water it is less than one mile away, and sports a much lower price. Find homes in Shirley today with the New York Statewide MLS.
