According to Vacasa, a Portland, OR-based vacation rental company, Ocean City, Maryland is the #7 best place to buy a beach house in 2019.
The Top 10 report is based on local markets’ aggregate cap rates, or the ratio of a property’s net operating income over its cost. Vacasa said they determined net operating income by calculating gross rental income for each market, then subtracting each market’s average operating costs and dividing those figures by the historical costs of buying a vacation rental.
Ocean City’s cap rate was determined to be 5.4%; the median home price is reported as $285,900 (Zillow reports a median sale price of $262,700), and the median annual gross rental income $30,769.
Vacasa additionally cited some of Ocean City’s most famous amenities including the beach, boardwalk and arcades, saying:
Swimming, sunning, and socializing near the Atlantic have put Ocean City on “best beaches in America” lists for years. In addition to hitting the sand, travelers can enjoy an expansive, three-mile beachfront boardwalk that’s home to local shops, restaurants, amusement parks, and arcades—all accessible by foot or bike. Those who are seeking a bit more action will find it. Surfing, fishing, kayaking, and canoeing are all available in Ocean City. Vacation home buyers in this market should keep one thing in mind: water. While Ocean City has a diverse inventory of vacation homes, being near the ocean or the bay is key in driving bookings. Can’t swing it? A pool or boardwalk access will help increase your stays.
Ocean Shores, WA ranked #1 on the list, followed by Myrtle Beach, SC and Florida’s Panama City Beach and Santa Rosa Beach.
If you’re in the market for a new beach house, you may want to consider Ocean City!
Ocean City Vacation Rentals and Condos Vacation Rentals Navigation Renting a house or condo in Ocean City Bayside condos with balconies overlooking the most beautiful sunsets. Fully-furnished beach houses just steps away from the sand. Single rooms and two-story apartments, downtown quarters and uptown havens.