The city of Houghton tops a list of locations in the Midwest as the Best Place to Invest in a Winter Vacation Home.
The rankings come from RewardExpert, a New York-based company that offers a free service that helps users take full advantage of credit card and travel rewards.
They looked at numerous factors to ensure homebuyers were making a sound investment–including property values, local amenities and potential natural disaster threats.
Houghton was noted for its embrace of outdoor activities in the winter, such as cross-country skiing, snowmobiling and ice fishing.
Michigan Tech’s Winter Carnival was also mentioned.
RewardExpert says although home prices in the area have gone up about 10 percent in the last year, the median asking price in Houghton County is still only $120,000.
Here is the full press release from RewardExpert:
RewardExpert Ranks the Best Places to Invest in a Winter Vacation Home
Analyzes 2,291 counties in the U.S. to help homebuyers find smart investments for their winter escape.
New York, N.Y. – Homebuyers on the market for a vacation property must consider numerous factors to ensure they are making a sound investment; from property value to local amenities to potential natural disaster threats. RewardExpert – a free service that helps users take full advantage of credit card and travel rewards – today released its ranking of the Best Places to Invest in a Winter Vacation Home. To determine its ranking, RewardExpert analyzed 2,291 U.S. counties based on fourteen metrics broken down into four categories: real estate & economy, attractions & amenities, transportation infrastructure, and hazards to property and person.
“No matter what your ideal winter vacation looks like, chances are it includes owning a home away from home,” says RewardExpert CEO and co-founder Roman Shteyn. “However, investing in real estate is not a decision to be made lightly. That’s why we analyzed counties throughout the entire United States and broke down the top locations for each geographical region to help families narrow down their search for the perfect winter escape.”
Key findings of the ranking include:
- Number one in the Northeast is the Finger Lakes Region/Schuyler County, New York. Schuyler County in the Finger Lakes Region takes first in the region, with Yates, Ontario, and Seneca Counties close behind. The region is well known for its 100+ wineries and vineyards. Opportunities for outdoor recreation abound, from fishing and hunting to boating and hiking, while both the Adirondacks and the Catskills are no more than a few hours away.
- First place in the South Atlantic region goes to Franklin County/Apalachicola, Florida. There’s more to winter than snow and skiing; some prefer to escape the cold. Ranking first in the South Atlantic region is Franklin County. The least populous county in Florida offers ample opportunity to enjoy the outdoors as if winter doesn’t exist. Real estate values here have increased by 10% in the past 12 months, but remain lower than most Florida counties.
- The top location in the Midwest is Houghton County & City, Michigan. One of the snowiest cities in the United States, Houghton is known for its embrace of outdoor activities such as cross-country skiing, snowmobiling, and ice fishing, and every February, the city holds a Winter Carnival. While home prices here have gone up about 10% over the last year, the median asking price in Houghton County is still only $120,000.
- First place for the South Central region goes to Taos, New Mexico. Home to New Mexico’s highest peak and four ski resorts, the Taos area provides numerous opportunities for winter recreation. As with most resort towns and tourist hot spots, the price of real estate here is considerably higher than on the East Coast or in the Midwest. In Taos, however, prices have not (yet) risen as high as popular locations across the border in Colorado, with a median list price about $100,000 lower, at $339,000.
- Top spot in the Mountain West is Grand County/Moab, Utah. First in the Mountain West region is Grand County, Utah, and the city of Moab; an increasingly popular place for second and vacation homes. Property values have skyrocketed, increasing 11.4% in the last year, but have not yet reached levels seen in popular Colorado destinations. Moab’s mild winter temperatures and natural settings make it a mecca for outdoor recreation that continues year-round.
- Tied for first in the Pacific West region are Hood River & Wasco Counties/Hood River-The Dalles, Oregon. At number one, Hood River was a clear favorite according to virtually every metrics, although home prices are on the higher end. The budget-conscious buyer would do well to consider a home near The Dalles in neighboring Wasco County, where homes sell for less than 2/3rd the price ($272,500 vs. $485,000), and are increasing twice as quickly, at a rate of 16% per year.
“Whether you’re looking to escape the snow during the winter months or whether you want to dive right in and make snow angels, this ranking will help your family determine where to make a sound property investment that will grow in value over time,” says Shteyn.
For further information and to view the full report, visit the RewardExpert website.
RewardExpert helps users navigate the world of frequent flyer programs and credit card rewards. The free web service provides smart tools and features that enable users to make more rewarding decisions. Through personal finance and travel insights, users are empowered to turn their spending into earning. Find out how to quickly gain rewards while spending less to see more of the world. To get started, visit www.rewardexpert.com.