And the Best Place To Buy a Vacation Home This Year Is …
On the coast, naturally.
Here at Coastal Living, we don’t generally dole out investment advice—but if you ask us, we’ll tell you a beach home is a pretty good one (mainly for the ROH—return on happiness).
But, if you’re interested in generating some serious cash flow from a second property, too, there’s one beach town in particular you should consider.
According to a new report from rental marketplace Rented.com, the real estate market with the highest return on investment for rental properties is Panama City Beach.
Related: Plan the Perfect Weekend on Florida's 30A:
The Spring Break hot spot on the Florida panhandle topped the list of 150 cities this year, coming in above major rental markets like Chicago and Napa, California.
The report is compiled by comparing the costs of homeownership (including insurance, taxes, and average maintenance) with the potential revenue of a rental property in each city. The profit potential is determined by the popularity of the destination, as well as average short-term rental rates in the area.
This isn’t the first time Panama City Beach has taken first prize in this ranking. In 2016, the first year Rented.com released the study, the white sand-blessed town also took top honors. Last year, Nashville came out on top, with PCB’s Gulf coast neighbor, Destin, in second place.
And good news for Sunshine State fans: In every report issued to date, nearly three times as many Florida cities are included in the top 25 versus the next closest state (Tennessee). Oh, Florida, how we love you.