Top 25 best places for a second home
City | Median home prices |
Whitewater, Wisconsin | $258,000 |
Savannah, Georgia | $266,000 |
Hudson Valley, New York | $329,000 |
Bay Harbor, Michigan | $332,000 |
Gulf Shores, Alabama | $430,000 |
Ludlow, Vermont | $442,000 |
Nashville, Tennessee | $446,000 |
Dauphin Island, Alabama | $458,000 |
St. Augustine, Florida | $466,000 |
Lake Havasu City, Arizona | $490,000 |
Charleston, South Carolina | $510,000 |
Big Sky, Montana | $546,000 |
Gatlinburg, Tennessee | $583,000 |
Coeur d'Alene | $603,000 |
Big Bear, California | $639,000 |
New Buffalo, Michigan | $644,000 |
Palm Springs, California | $717,000 |
Hilton Head Island, South Carolina | $730,000 |
Grand Lake, Colorado | $734,000 |
Bend, Oregon | $777,000 |
Scottsdale, Arizona | $862,000 |
The Keys, Florida | $1.02 MILLION |
Maui, Hawaii | $1.05 MILLION |
Vail, Colorado | $1.59 MILLION |
Park City, Utah | $1.72 MILLION |
1. Whitewater, Wisconsin

- Median home price: $258,000
2. Savannah, Georgia

- Median home price: $266,000
3. Hudson Valley, New York

- Median home price: $329,000
4. Bay Harbor, Michigan

- Median home price: $332,000
5. Gulf Shores, Alabama

- Median home price: $430,000
6. Ludlow, Vermont

- Median home price: $442,000
7. Nashville, Tennessee

- Median home price: $446,000
8. Dauphin Island, Alabama

- Median home price: $458,000
9. St. Augustine, Florida

- Median home price: $466,000
10. Lake Havasu City, Arizona

- Median home price: $490,000
11. Charleston, South Carolina

- Median home price: $510,000
12. Big Sky, Montana

- Median home price: $546,000
13. Gatlinburg, Tennessee

- Median home price: $583,000
14. Coeur d’Alene, Idaho

- Median home price: $603,000
15. Big Bear, California

- Median home price: $639,000
Luxury second homes in Malibu
See all16. New Buffalo, Michigan

- Median home price: $644,000
17. Palm Springs, California

- Median home price: $717,000
18. Hilton Head Island, South Carolina

- Median home price: $730,000
19. Grand Lake, Colorado

- Median home price: $734,000
20. Bend, Oregon

- Median home price: $777,000
21. Scottsdale, Arizona

- Median home price: $862,000
22. The Keys, Florida

- Median home price: $1.02 million
23. Maui, Hawaii

- Median home price: $1.05 million
24. Vail, Colorado

- Median home price: $1.59 million
25. Park City, Utah

- Median home price: $1.72 million
Factors to consider when buying a second home
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Travel time
No matter where you live, you're likely to use your second home more if you don’t have a spirit-breaking slog to get there. If you want the flexibility of driving to your destination, identify communities you love within a two-to-three-hour drive time from your primary home. It's the reason Palm Springs and Las Vegas have long appealed to Angelenos, and why Napa, Sonoma and Lake Tahoe are retreats of choice for many San Franciscans.If you don't mind hopping on a plane and plan to use your home less often but for longer stretches, you could buy a second home in another part of the country. This will make planning ahead important, so factor both time and cost of travel into your buying equation.Seasonal preferences
Some vacation home locations cater to seasonal visitors — think ski towns or sunny snowbird destinations. These bustling communities may transform into quiet, locals-only spots in the off-season.If you are looking for a second home for seasonal use, like skiing in the winter or lake access for summertime fun, it's wise to research weather and real estate market conditions to get the full picture of when to come to your home. You’ll want to know if roads near your summer home get plowed in the winter, or if your ski chalet is plagued with mosquitoes come summer. If you plan to use your home year-round, the community will be a big factor in your buying decision. Are there recreational clubs, events, shops and services that meet your needs?The more you know about where you’re going to buy, the more confident you'll feel that you've picked the best location for your second home.Lifestyle
Consider the kind of life you want to live in your second home.Does a remote home surrounded by nature appeal to you, or do you want to be within a stone's throw from urban amenities? Are you semi-retired and looking for new adventures, or are you in a young family seeking fun, family-friendly activities?Are you looking for a private vacation home to enjoy with your family and friends, or are you interested in a vacation rental property that can provide some annual gross rental revenue?No matter which you prefer, most of us expect modern conveniences and amenities in our vacation homes. As you shop for a second home, ask:- What recreational activities are nearby? Explore area hiking and biking trails, and check out boating and fishing spots. Public parks will likely offer skateboard areas and basketball courts. If it's a ski hill you're after, see what it offers in both winter and summer. Are golf or tennis must-haves? Look into public and membership-only options. If you'd rather workout indoors, take a tour of local gyms or yoga studios.
- How close do you want to be to food markets and restaurants? Whether you love to cook or just eat well, proximity to good food can be a draw for many buyers. Explore your potential neighborhood and ask locals where they love to eat or grab a coffee.
- What services are essential to you? You may feel better knowing there's a hospital close by. Or, you may need to be near a train or airport. Some want access to a public library. Identify the services you can’t forego while spending time at your second home.
- Is the internet service suitable for both work and leisure? In addition to streaming Netflix, you may want the option of working remotely. That will require a reliable connection, powerful enough for video conferencing.
25 best places for a second home in 2023 based on your needs, lifestyle and budget
01: Is it harder to get a mortgage on a second home?
Generally, it is more difficult and time consuming to secure a mortgage for a second home. Lenders have more strict requirements like higher credit scores, better debt to income ratio and higher down payments. However, when you purchase and finance your home through Pacaso, the process is streamlined for a quick and easy buying experience.
02: What is a good rate for a second mortgage?
Interest rates will depend largely on the current market environment. But you should expect a good rate to be less than your credit card, but likely higher than your first mortgage rate.
03: Are 2nd home mortgage rates higher?
Interest rates depend on a variety of factors, but typically, second mortgage rates are higher due to lenders perceiving increased risk.