Phoenix, Tucson among best places to buy vacation homes

By Mike Sunnucks | Rose Law Group Reporter

Phoenix and Tucson rank among the top U.S. markets to buy a vacation home.

That is according to new rankings from Vacasa, a Portland-based rental real estate property management platform.

Vacasa looked at home sales and vacation rental performances across the U.S.

Phoenix ranks seventh on the list with the real estate firm citing the Valley’s warm, sunny climate, “thriving tech scene” and hiking, golf and luxury shopping destinations.

The report found the median price for vacation homes and condos in Phoenix is $470,000 with a 7.8% cap rate.

Lake Anna, Virginia, south of Washington D.C., tops the list. The area is home to a large lake stretching 17 miles long. The  median home price is $435,000 with a 12.2% cap rate, according to Vacasa.

Port Aransas, Texas; Palm Coast, Florida; Corolla, North Carolina and Okaloosa Island, Florida round out the top five.

Tucson — with a 7.1% cap rate and $340,000 median price for vacation properties — ranks 13^th on a list with seven Florida destinations including Fort Lauderdale (6^th) and Bradenton (20^th).

For the full list — https://www.vacasa.com/top-markets/2022-best-places-to-buy-a-vacation-home