DataMarkets & Economy

Save big on beach homes in these affordable ZIPs

Where a vacation spot can turn into a permanent home thanks to lower price tags
  • HomeUnion compiled the top bargain beach towns using data from in-house and the U.S. Census Bureau and FBI crime statistics.
  • Manitowoc County ranked as the cheapest bargain beach town.
  • Larger cities such as Baltimore, Chicago, Jacksonville, Long Beach and Virginia Beach also made the list.

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Chicago/ iStock Want to chill by the water without selling everything to afford it? Real estate investment management firm HomeUnion released a report highlighting the most bargain-friendly ZIP codes to live in if you want to live by a beach. HomeUnion relied on several criteria for compiling the list. The firm looked at inventory levels and culled locations with significant inventory of single-family rentals while also comparing the ZIP's median home prices and household incomes. Second, it looked only at locations with below-average levels of crime. The company used its own internal data, as well information provided by F.B.I Crime Statistics and the U.S. Census Bureau. Although most of the bargain beach towns in HomeUnion's list were smaller communities or suburbs of bigger coastal cities, some of the larger metros also made the cut. Baltimore, Chicago and Long Beach all ranked as affordable towns by the water, with towns near the Bay Area, Washington D.C., Los An...