There’s just something about oceans and other water bodies that seem to invoke a sense of calm and peace. If you’re like many Americans, then you probably also get a thrill out of watching majestic sunsets or sunrises, hearing the soothing sound of the crashing waves and feeling the sand between your toes. So, why not live by the ocean or any other body of water?
The primary problem is simple: Beachfront property is often too expensive . Or is it? It turns out, the U.S. is full of cities that can make your dream of living near water come true. GOBankingRates sourced the top beach towns in the U.S. from a variety of sources and looked at the data on cost of living, home values, mortgage payments and more. These cities span the nation, with higher concentrations in places like Hawaii, Texas, Florida and Washington.
Read on to find out where you might just be able to afford the waterfront property of your dreams.
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Denise Gerdes / Shutterstock.com 50. Alexandria, Minnesota
Median annual income : $57,309 Monthly mortgage payment : $1,601 Average home value : $267,625 State average home value : $340,599.95 Difference : $72,974.91 Read Next: Housing Market 2024: 50 Most Affordable Cities for Homebuyers
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49. Muskegon, Michigan Median annual income : $40,900 Monthly mortgage payment : $1,019 Average home value : $170,361 State average home value : $243,677.86 Difference : $73,316.45 Near You: Cheapest Places To Buy a Home in Every State
©Shutterstock.com 48. Duluth, Minnesota Median annual income : $63,545 Monthly mortgage payment : $1,575 Average home value : $263,379 State average home value : $340,599.95 Difference : $77,220.57
SeanPavonePhoto / iStock.com 47. Providence, Rhode Island Median annual income : $61,365 Monthly mortgage payment : $2,336 Average home value : $390,530 State average home value : $468,794.52 Difference : $78,264.54 f11photo / Shutterstock.com
46. Algoma, Wisconsin Median annual income : $72,232 Monthly mortgage payment : $1,349 Average home value : $225,496 State average home value : $306,459.71 Difference : $80,963.47 Pictured: Milwaukee
Courtesy of Four Seasons / Christian Horan 45. Kapolei, Hawaii Median annual income : $121,768 Monthly mortgage payment : $5,473 Average home value : $915,018 State average home value : $996,981.53 Difference : $81,963.44
RoschetzkyProductions / Shutterstock.com 44. Corpus Christi, Texas Median annual income : $64,449 Monthly mortgage payment : $1,345 Average home value : $224,777 State average home value : $308,385.14 Difference : $83,607.98 Avoid These: I’m a Home Staging Expert: Watch Out for These 5 Staging Red Flags When You’re Buying a Home
DenisTangneyJr / Getty Images/iStockphoto 43. Laconia, New Hampshire Median annual income : $67,856 Monthly mortgage payment : $2,449 Average home value : $409,391 State average home value : $496,131.30 Difference : $86,740.07 DenisTangneyJr / Getty Images/iStockphoto 42. Texas City, Texas Median annual income : $61,359 Monthly mortgage payment : $1,300 Average home value : $217,371 State average home value : $308,385.14 Difference : $91,014.01 Pictured: Port Arthur
martinhosmart / Getty Images/iStockphoto 41. Eerie, Pennsylvania Median annual income : $43,135 Monthly mortgage payment : $1,050 Average home value : $175,615 State average home value : $267,924.52 Difference : $92,309.28 ©Shutterstock.com 40. Fort Walton Beach, Florida Median annual income : $61,820 Monthly mortgage payment : $1,936 Average home value : $323,668 State average home value : $417,228.14 Difference : $93,560.32 Davel5957 / iStock.com 39. Norfolk, Virginia Median annual income : $60,998 Monthly mortgage payment : $1,785 Average home value : $298,335 State average home value : $395,912.17 Difference : $97,577.51 Discover More: 10 Dangerous Cities You Shouldn’t Buy a Home in No Matter the Price
Steve Heap / Shutterstock.com 38. Lihue, Hawaii Median annual income : $73,641 Monthly mortgage payment : $5,379 Average home value : $899,211 State average home value : $996,981.53 Difference : $97,770.39 Sean Pavone / Getty Images/iStockphoto 37. Milwaukee, Wisconsin Median annual income : $49,733 Monthly mortgage payment : $1,227 Average home value : $205,132 State average home value : $306,459.71 Difference : $101,328.17 SeanPavonePhoto / Getty Images/iStockphoto 36. Jacksonville, Florida Median annual income : $64,138 Monthly mortgage payment : $1,859 Average home value : $310,790 State average home value : $417,228.14 Difference : $106,438.27 Ron and Patty Thomas / Getty Images/iStockphoto 35. Toledo, Ohio Median annual income : $45,405 Monthly mortgage payment : $712 Average home value : $119,053 State average home value : $229,380.80 Difference : $110,327.96 Crystal Bolin Photography / Getty Images/iStockphoto 34. Carrabelle, Florida Median annual income : $41,563 Monthly mortgage payment : $1,824 Average home value : $304,960 State average home value : $417,228.14 Difference : $112,268.04 Joesboy / Getty Images/iStockphoto 33. Middle River, Maryland Median annual income : $72,970 Monthly mortgage payment : $1,881 Average home value : $314,499 State average home value : $430,752.21 Difference : $116,252.75 Pictured: Ocean City
©Shutterstock.com 32. Fort Pierce, Florida Median annual income : $45,121 Monthly mortgage payment : $1,797 Average home value : $300,487 State average home value : $417,228.14 Difference : $116,741.07 Midwest Move: 5 Midwest Cities Where You Can Buy Luxury Homes for $100,000 or Less
CrackerClips Stock Media / Shutterstock.com 31. Palacios, Texas Median annual income : $59,469 Monthly mortgage payment : $1,131 Average home value : $189,139 State average home value : $308,385.14 Difference : $119,246.18 Pictured: South Padre Island
Danita Delmont / Shutterstock.com 30. Brownsville, Texas Median annual income : $46,735 Monthly mortgage payment : $1,129 Average home value : $188,705 State average home value : $308,385.14 Difference : $119,680.47 Sean Pavone / Shutterstock.com 29. Daytona Beach, Florida Median annual income : $47,608 Monthly mortgage payment : $1,777 Average home value : $297,073 State average home value : $417,228.14 Difference : $120,154.87 drnadig / Getty Images 28. Cleveland, Ohio Median annual income : $37,271 Monthly mortgage payment : $643 Average home value : $107,571 State average home value : $229,380.80 Difference : $121,809.89 Davel5957 / Getty Images/iStockphoto 27. Hampton, Virginia Median annual income : $64,430 Monthly mortgage payment : $1,611 Average home value : $269,250 State average home value : $395,912.17 Difference : $126,662.65 Pictured: Virginia Beach
Eric V Overton / Shutterstock.com 26. Port Lavaca, Texas Median annual income : $58,871 Monthly mortgage payment : $1,068 Average home value : $178,616 State average home value : $308,385.14 Difference : $129,769.34 Pictured: Galveston
Rob Hainer / Shutterstock.com 25. Panama City, Florida Median annual income : $57,221 Monthly mortgage payment : $1,702 Average home value : $284,572 State average home value : $417,228.14 Difference : $132,655.75 Related Reading: 4 Reasons You Might Regret Buying a Home in Florida
Yongqi Gou / Getty Images/iStockphoto 24. Bremerton, Virginia Median annual income : $68,556 Monthly mortgage payment : $2,823 Average home value : $471,908 State average home value : $611,214.65 Difference : $139,307.00 aimintang / Getty Images/iStockphoto 23. New London, Connecticut Median annual income : $56,237 Monthly mortgage payment : $1,713 Average home value : $286,335 State average home value : $426,050.76 Difference : $139,716.20 Richard Martin / Flickr.com 22. Essex, Maryland Median annual income : $67,580 Monthly mortgage payment : $1,671 Average home value : $279,296 State average home value : $430,752.21 Difference : $151,456.35 ©Shutterstock.com 21. Pensacola, Florida Median annual income : $67,722 Monthly mortgage payment : $1,565 Average home value : $261,647 State average home value : $417,228.14 Difference : $155,581.44 Shop Carefully: 5 Types of Homes That Will Plummet in Value in 2024
CrackerClips Stock Media / Shutterstock.com 20. Freeport, Texas Median annual income : $50,704 Monthly mortgage payment : $854 Average home value : $142,728 State average home value : $308,385.14 Difference : $165,656.81 Pictured: South Padre Island
Eugene Garcia / AP / Shutterstock.com 19. Port Angeles, Washington Median annual income : $60,212 Monthly mortgage payment : $2,659 Average home value : $444,541 State average home value : $611,214.65 Difference : $166,674.07 pawel.gaul / Getty Images 18. Detroit, Michigan Median annual income : $37,761 Monthly mortgage payment : $432 Average home value : $72,292 State average home value : $243,677.86 Difference : $171,385.69 17. Salisbury, Maryland Median annual income : $53,309 Monthly mortgage payment : $1,527 Average home value : $255,343 State average home value : $430,752.21 Difference : $175,409.63 Pictured: Assateague Island
Kyle Gibson / Getty Images/iStockphoto 16. Coos Bay, Oregon Median annual income : $60,212 Monthly mortgage payment : $2,659 Average home value : $444,541 State average home value : $611,214.65 Difference : $166,674.07 15. Port Arthur, Texas Median annual income : $45,357 Monthly mortgage payment : $633 Average home value : $105,798 State average home value : $308,385.14 Difference : $202,587.63 benedek / Getty Images/iStockphoto 14. Buffalo, New York Median annual income : $46,184 Monthly mortgage payment : $1,340 Average home value : $224,057 State average home value : $443,364.58 Difference : $219,307.88 Check Out: 7 Locations Where Housing Prices Are Plummeting Post-Pandemic
IMG_191 / Shutterstock.com 13. Rochester, New York Median annual income : $60,212 Monthly mortgage payment : $2,659 Average home value : $444,541 State average home value : $611,214.65 Difference : $166,674.07 JeffGoulden / Getty Images/iStockphoto 12. Ocean Shores, Washington Median annual income : $54,435 Monthly mortgage payment : $2,290 Average home value : $382,766 State average home value : $611,214.65 Difference : $611,214.65 Dmitri Kotchetov / Shutterstock.com 11. Long Beach, Washington Median annual income : $47,188 Monthly mortgage payment : $2,275 Average home value : $380,393 State average home value : $611,214.65 Difference : $230,821.85 RoxyAnne / Shutterstock.com 10. Lanai City, Hawaii Median annual income : $80,464 Monthly mortgage payment : $4,475 Average home value : $748,093 State average home value : $996,981.53 Difference : $248,888.91 Pictured: Kihei
Vlad Podvorny / Flickr.com 9. Atlantic City, New Jersey Median annual income : $35,188 Monthly mortgage payment : $1,416 Average home value : $236,698 State average home value : $539,808.00 Difference : $303,109.59 Jon Marc Lyttle / Shutterstock.com 8. Jamestown, New York Median annual income : $39,507 Monthly mortgage payment : $680 Average home value : $113,640 State average home value : $443,364.58 Difference : $329,724.98 CrisRG / Getty Images/iStockphoto 7. Maunaloa, Hawaii Median annual income : $80,464 Monthly mortgage payment : $4,475 Average home value : $748,093 State average home value : $996,981.53 Difference : $248,888.91 Pictured: Holualoa
Jasperdo / Flickr.com 6. Aberdeen, Washington Median annual income : $50,008 Monthly mortgage payment : $1,624 Average home value : $271,456 State average home value : $611,214.65 Difference : $339,758.39 Money Expert: Dave Ramsey: Why You Shouldn’t Pay Off Your Mortgage Early Even If You Can
©Shutterstock.com 5. Waianae, Hawaii Median annual income : $77,435 Monthly mortgage payment : $3,814 Average home value : $637,558 State average home value : $996,981.53 Difference : $359,423.57 Pictured: Kauai
©Shutterstock.com 4. Eureka, California Median annual income : $51,971 Monthly mortgage payment : $2,485 Average home value : $415,360 State average home value : $805,913.17 Difference : $390,553.57 QuekZongYe / Getty Images/iStockphoto 3. Hilo, Hawaii Median annual income : $75,589 Monthly mortgage payment : $3,091 Average home value : $516,681 State average home value : $996,981.53 Difference : $480,300.53 SMJoness / Getty Images/iStockphoto 2. Kaunakakai, Hawaii Median annual income : $67,083 Monthly mortgage payment : $2,736 Average home value : $457,474 State average home value : $996,981.53 Difference : $539,507.34 Pictured: Kihei
Symbiotic Athlete / Shutterstock.com 1. Clearlake, California Median annual income : $41,047 Monthly mortgage payment : $1,304 Average home value : $217,921 State average home value : $805,913.17 Difference between typical and state home value : $587,992.34 John Csiszar and Daria Uhlig contributed to the reporting for this article.
Methodology: For this study, GOBankingRates analyzed coastal cities across the United States to find the cities on the waterfront that are a total steal. First GOBankingRates found waterfront cities as sourced from USAtoday’s Most Affordable Waterfront Cities, WSAZ’s 100 Best Beach Towns, TravelandLeisure’s Best Beach Towns and Best Secluded Beaches, USNewsandWorldReport’s Best Places to Live near the Beach, LoveExploring’s Destinations, TripSavvy’s Best Beach Towns in the US, and Realtor’s Most Affordable Beach Towns for Homebuyers. For each city a number of factors were found including; total population, total households, household median income all sourced from the US Census American Community Survey, the cost-of-living indexes as sourced from Sperlings BestPlaces, the average single-family home value from April 2024 as sourced from Zillow Home Value Index, the livabilty index as sourced from AreaVibes and the average single-family home value by state as sourced from Zillow Home Value Index. For each home value, the average mortgage cost was calculated by assuming a 10% down payment and using the national average 30-year fixed mortgage rate, the average mortgage cost can be calculated. The average expenditure costs are calculated by using the cost-of-living indexes and using the national average expenditure costs for all residents as sourced from the Bureau of Labor Statistics 2022 Consumer Expenditure Survey. The average expenditure cost and mortgage cost can be used to find the total monthly cost of living for each city. The difference in home value from statewide averages can be calculated to find the waterfront cities that are undervalued and are considered a steal. The cities were sorted to show the waterfront places with the most undervalued homes. All data was collected on and is up to date as of June 10, 2024.
This article originally appeared on GOBankingRates.com : 50 Waterfront Cities Where Homes Are a Total Steal
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