6 states with affordable vacation homes

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Jen Lyons
December 13, 2024
Exterior pool view of an affordable co-owned vacation home in Southern California
If you’re looking for a vacation home in another state that won’t break the bank, you’re in luck. Our research has identified six states with desirable destinations offering relatively affordable second homes. Check them out, plus consider an alternative that helps put luxury homes in world-class destinations within reach.

Arizona

The Grand Canyon State is a popular destination for seasonal residents. Mild, comfortable temperatures from fall to spring attract those wanting to escape cold weather in other parts of the country. Arizona is one of the most popular states for second homes, with a range of home prices in plenty of cities and towns. 
  • Lake Havasu City: A haven for watersports enthusiasts, Lake Havasu City boasts 290 days of sunshine each year, endless recreational activities and a median sold home price of $535,000. Due to its location on the junction of Arizona, California and Nevada, this fun-filled town draws visitors from all three states. 
  • Tucson: Located in the Sonoran Desert, Tucson offers a great cultural scene, flavorful cuisine and plenty of natural beauty — all at a price point lower than other southwestern cities. The median sold home price is $363,000.
  • Flagstaff: While most people picture a desert when they think of Arizona, Flagstaff is located in the high country mountains. Second home owners here enjoy snowy winters and mild summers. According to Realtor.com, the median sold home price in Flagstaff is $696,000, but there are many condominiums and townhomes under that price point. 

California

Hollywood. Beaches. Wine Country. California is known for a lot of things — including a sky-high cost of living. Fortunately, it’s a big state, meaning there are plenty of places where you can enjoy the second home lifestyle without the sticker shock. 
  • Joshua Tree: Located outside of Palm Springs and adjacent to Joshua Tree National Park, the town of Joshua Tree offers the stunning landscapes of the Mojave Desert without the big price tag of nearby resort towns. Realtor.com notes the median sold home price in the area is $375,000.
  • Lake Elsinore: Southern California’s Lake Elsinore is in the foothills of the Santa Ana mountains, and boasts a wide range of watersports on its namesake lake. Just an hour from Orange County, the town is growing in popularity but remains more affordable than most of Southern California. The median sold home price is $575,000 — significantly lower than most other resort destinations in the state. 
  • Mount Shasta: Another hidden gem on a lake, Northern California’s Mount Shasta is a quiet, somewhat remote area for people looking to enjoy the rugged beauty of the area, which offers a myriad of outdoor activities. The median sold home price in Mount Shasta is $480,000.  

Florida 

Like California, parts of Florida are more affordable than you might expect. Home prices in Central Florida and the Gulf Coast are dramatically lower than in South Florida, but both areas still offer that famous Sunshine State weather. 
  • Jacksonville: Located near the Florida-Georgia border, Jacksonville offers a variety of landscapes, whether you’re in search of an affordable dream home on the water, a golf course or right in town. According to Realtor.com, the median sold home price in Jacksonville is $315,000.
  • Tampa: Sometimes overshadowed by the more famous Miami and Orlando, Tampa offers bayfront living, great family attractions and championship golf. Slightly more expensive than Jacksonville, the median sold home price in Tampa is $420,000.
  • Daytona Beach: Daytona Beach boasts a lower cost of living than the national average, and even a lower cost of living than the rest of Florida. Residents enjoy 23 miles of white-sand beaches, year-round festivals and events, and the Daytona International Speedway, of course. In Daytona Beach, the median sold home price is $305,000.

Michigan

Natural beauty and recreational opportunities are hallmarks of life in Michigan. A popular second home destination especially in the summer months, the Wolverine State offers a range of affordable second home living options, with plenty right on the water. 
  • Holland: Located on Lake Michigan’s eastern shore, the town of Holland is a great family destination featuring a charming downtown that celebrates the area’s Dutch heritage. According to Realtor.com, the median sold home price in Holland is $345,000.
  • Bay Harbor and Petoskey: Nestled on five miles of Lake Michigan shoreline in the northern part of the state, Bay Harbor is a popular resort destination with a small-town feel, beautiful scenery and a bustling marina. While the narrow strip of land that makes up the neighborhood of Bay Harbor can be pretty expensive, neighboring Petoskey boasts a median sold home price of $305,500.
  • St. Joseph: A popular lake resort town in southwestern Michigan, St. Joseph has something for everyone. Wander pristine beaches, tour century-old lighthouses and experience a myriad of events, especially in the summer months. $240,000 is the median sold home price in this lakefront getaway. 

North Carolina

The Tar Heel State is a popular second home destination, both because of the relatively low property taxes and the varied landscapes, from the Blue Ridge Mountains surrounding Asheville to unspoiled Atlantic Ocean coastlines. 
  • Beaufort: A can’t-miss destination for boaters and lovers of maritime lore, Beaufort is a historic Inner Banks town known for its annual wooden boat show, friendly waterfront and a herd of wild horses on nearby Carrot Island. According to Realtor.com, the median sold home price in Beaufort is $460,000.
  • Cullowhee: Head inland and you’ll find Cullowhee an hour west of Asheville. It’s a college town that’s a popular vacation destination, thanks to its proximity to Great Smoky Mountains National Park and Lake Glenville. The median sold home price in Cullowhee is $375,000.
  • Carolina Beach: Carolina Beach is full of charm. There’s a classic boardwalk, a state park with a 50-foot sand dune, and plenty of attractions for vacationers of all ages. It was even ranked as one of the most affordable beaches in the country. While the median sold home price sits at $759,000, a wide range of properties and price points are available, with condos available under $400,000.

Pennsylvania

Within convenient driving distance for many on the Eastern Seaboard, Pennsylvania offers four seasons of fun. Regions like the Poconos offer lakefront summer fun, incredible fall foliage, snowy winters and mild springs. 
  • Milford: On the eastern edge of the Pocono Mountains near the New York-New Jersey border, the town of Milford is brimming with small-town charm, yet offers a full calendar of events and activities including a film festival, and a readers and writers festival. Realtor.com notes that the median sold home price in Milford is $317,500. 
  • Jim Thorpe: On the western side of the Poconos, the Victorian town of Jim Thorpe is known as the “Switzerland of America.” A popular tourist destination with Old World charm and plenty of outdoor adventure, this town has a median sold home price of $242,800.
  • Warren: The town of Warren is an outdoor lover’s paradise, located about 60 miles from the shores of Lake Erie. Active travelers enjoy endless opportunities to explore Allegheny National Forest, which boasts over 500,000 acres for camping, paddling, fishing and more. In this affordable outpost, the median sold home price is just $140,000. 

Pacaso makes dream destinations more affordable 

Pacaso co-ownership puts second home ownership within reach for more people across the country. We recently added more than 20,000 curated listings to our website in new destinations across the country starting at $200,000, so buyers have more opportunities to co-own the vacation home of their dreams.Thanks to our co-ownership model, up to eight owners can share the cost of a second home in your favorite destination, making ownership a reality — within your budget. Choose from a fully furnished, ready-to-own luxury home today, or find a third-party listing on our site and, with enough interest from other buyers, we’ll help you transform it into a Pacaso you’ll love.

States with affordable vacation homes FAQ

01: Is it financially smart to buy a vacation home?

Yes, owning a vacation home can be a wise financial move, offering long-term savings on vacations and potential property value appreciation.

02: Where is the best place to have a summer home?

Locations with mild summers, beach towns or mountain communities make ideal summertime getaways.

03: What is the alternative to buying a vacation home?

You can rent a vacation home instead of owning. Additionally, Pacaso's co-ownership model offers an excellent variation of buying a vacation home.

04: What is a fractional vacation home?

With fractional ownership, you own a fraction of the vacation home and are thus responsible for only a fraction of the operating expenses.

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