Buying a second home may seem like a pipe dream, something reserved for the better-off. But in reality, this is far from the truth. Buying a second home is more feasible than you might think for homeowners of all income levels looking to make a real estate investment or just have a vacation spot. Demand for second homes has skyrocketed during the pandemic, increasing 84% year over year, according to a Redfin study.
READ ALSO: Top 5 Predictions for Residential Real Estate in Phoenix
Where you buy your second home can make or break your investment, not to mention how much fun you get from your new pad. To help you make the right decision for your needs, the Hippo team analyzed data such as median housing costs, average home insurance premiums, real estate appreciation, crime rates and more. more for the 100 most populous cities in the country.
The best cities for a second home
If you don’t feel like living in a particular part of the country, but feel financially prepared to buy a second home, consider relocating to one of the following cities. With low median housing prices, relatively low property crime rates, and high walk scores and comfort ratings, these cities are perfect for families and young homeowners.
1. Fort Wayne, Indiana
2. El Paso, Texas
3. Saint-Louis, Missouri
4. Glendale, Arizona
5. Laredo, Texas
6. Boise, Idaho
7. North of Las Vegas, Nevada
8. Bakersfield, California
9. Riverside, California
10. Tucson, Arizona
5 best western cities to buy a second home
The largest region of the United States, the western part of our country is a melting pot of landscapes, cultures and activities. This means that if you are not yet sure where you want to buy your second home, but know what you want to be nearby, it is safe to assume that you will find what you are looking for in this part. from the country. From bright lights and Las Vegas casinos to ideal temperatures and sunny California beaches, there is something for everyone in the western half of the United States.
Unfortunately, many West Coast states are known for their high cost of living and sky-high house prices. But that doesn’t mean that there aren’t some great places to buy property. You might be surprised at the affordability of some of the smaller towns dotted throughout the region. Take a look at the top five cities for a second home in the West below.
Are you surprised to see a California city on our list? Don’t be! While house prices can be relatively high (albeit extremely low compared to its neighbor Los Angeles), the city’s affordable home insurance premiums, cost of living, comfort index, and value. Steadily increasing property ownership makes investing in Riverside a no-brainer. Riverside also has one of the lowest living costs and the highest comfort ratings of any city we surveyed, making California a dream not just a dream for many homeowners.
With home and home insurance prices even lower than Riverside, Bakersfield, Calif., Ranks fourth on our list of the best cities for a second home in the West. Bakersfield has been awarded an A + rating for ethnic and economic diversity, making it a smart choice for young professionals looking to expand their real estate portfolio. Plus, proximity to mountains, beaches, and major cities combined with a low cost of living consolidates Bakersfield as a little-known Golden State gem.
Just steps from the hustle and bustle of the Las Vegas Strip, buying a second home in North Las Vegas, Nevada is a great idea for young homeowners. Whether you want to live close to the action or just plan to rent the property out to tourists to earn some cash, this Vegas suburb can be the perfect choice. And if you’re a NASCAR fan, you’ll love the proximity to Las Vegas Motor Speedway, which also hosts various dirt and drag racing events.
Want to own a home in a town where you can go to a jazz festival, watch minor league sports teams, and ski and hike within the city limits? Next, head to Boise, Idaho, a perfect city for families due to its low crime rate, highly regarded schools, and huge return on investment. In fact, Boise has seen the largest increase in property value over the past 10 years out of the 100 cities we surveyed.
A northwest suburb of Phoenix, Glendale, Arizona, took first place in the Western region due to its affordable home insurance premiums, high rate of property value growth and index Steps. But aside from the numbers, Glendale draws people in with fun attractions such as the West Wind Drive-In and a huge array of antique stores that have earned Glendale the nickname “Arizona’s ancient capital.”