7 Hot Second Home Markets 2024

Buying a Second Home?

Here are 7 of the Hottest Destinations for Potential Buyers

Given how difficult it is to buy a first home these days, the fact that many Americans are currently focused on buying a second home is stunning. But it’s true. 

It’s the wealthy, of course, who are buying these homes, but that doesn’t mean that the numbers involved are insignificant or that the trends don’t affect the market as a whole. They do.

The frenzied Covid-era real estate market has cooled significantly across most of the US, especially with interest rates where they are currently, but buyers trying to access additional supply and (slightly) more reasonable prices have been turning their attention to markets that, while always popular, took a bit of a backseat in 2021 and 2022 to hot spots like Aspen, CO, New York City and Scottsdale, AZ.

In 2024, however, it’s these destinations’ time to shine, and below we list seven second-home markets that are currently going gangbusters—and in a way that many didn’t see coming back in 2021. At the moment, these seven destinations are at the center of almost any conversation about the hottest property markets in the country.

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Of course, it goes without saying that if you’re considering a second home, it’s important to explore different financing options such as mortgages, cash payments, and borrowing against investments very carefully, and in detail. 

Seeking advice from advisors and lending specialists can help you weigh the pros and cons of this sort of investment, which, by definition, is significant. 

Consult a tax professional to understand the tax implications of owning a second home, and take some time to consider the costs associated with hiring a property manager or landlord to handle maintenance, if required. 

In general, ongoing expenses associated with owning a second home–particularly insurance and property taxes–tend to be underestimated by many buyers.

So here we go. Here, in no particular order, is the ultimate second-home wish list featuring seven US property markets that show no sign of slowing down any time soon! 

Cape May, New Jersey

The US county with the highest percentage of second-home buyers is Cape May County, NJ, where almost 50 percent of all mortgages over the past year—as of May 2024—were for second homes. 

The southern tip of New Jersey, which encompasses the beachfront communities of Cape May, Wildwood, Ocean City, and Avalon is a wildly popular location for Americans looking to buy a second home—whether as a vacation home, a retirement destination, or an investment property intended to generate rental income, and there’s no doubt that prices reflect that level of interest. In May 2024 the median list price of a home in Cape May was $973,500, representing a 4.0% rise over 2023.

An extremely popular summer destination with roughly 30 miles (48 km) of sandy beaches to enjoy, Cape May County attracts visitors not only from New Jersey and surrounding states, but many other parts of the country as well. 

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The summer population generally tops 750,000, and tourism generates revenues well in excess of $7 billion annually. 

Grand Victorian homes vie with modern homes, boardwalks, lighthouses, museums, shops, and restaurants—and of course the beach—for the attention of vacationers and long-term residents alike.

A major selling point of Cape May County is its relaxed atmosphere and quaint charm, and this, more than anything else, is the source of its consistent popularity with those seeking the ideal location for a vacation home.

Of course, when considering a second home in a coastal area like Cape May, it’s vital to think about flood insurance to protect against the risk of flooding, which isn’t insignificant. Nevertheless, for those who can afford the price tag, and want a second home in addition to their primary residence, Cape May is very hard to beat.

Indian River County, Florida

It would be shocking if one or more communities in Florida didn’t make this list. After all, various parts of Florida have long dominated the second-home market in the US and the state continues to draw immense numbers of transplants from every part of the country—a trend that’s almost certain to continue. Florida’s sunshine and sandy white beaches are among the very best in the United States. 

What is surprising, however, has been the inexorable rise of the property market in Indian River County, encompassing much of Florida’s Treasure Coast. This region is currently beating out far more established communities like West Palm Beach and Fort Lauderdale as an ideal location for a second home.

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The entire region is stunningly beautiful, featuring a variegated landscape with pristine beaches, sun-kissed coastline, rivers and streams, lagoons and lakes—and also easy access to the Atlantic. 

The county is renowned for its coastal charm and relaxed lifestyle and local towns offer a memorable blend of Old and “New” Florida—which is basically a traditional atmosphere with modern amenities and infrastructure.

And most importantly, Indian River County offers an abundance of reasonably priced waterfront properties, which helps explain its ever-growing popularity with those with some money to burn in search of a vacation home. And deals can still be found here in ways that they cannot in more upscale locations.

In May 2024, for example, Indian River County home prices were up 3.3% compared to the year prior and selling for a median price of $393,000. And while the very best waterfront properties in the county sell for millions of dollars, there are deals—in a relative sense—to be found. 

On both sides of the Indian River, for example, waterfront homes with personal docks can be had for roughly $1.7 million. Indian River County, in short, is an ideal location for a second home—especially for Americans in search of a vacation or retirement home.

Newport County, Rhode Island

Between 2022 and 2023, sales of luxury second homes in Newport County, Rhode Island rose by a remarkable 64 percent (see below)—a rate of increase that no other area of the country came close to matching that year. And Newport’s popularity with second-home buyers remains undimmed.

Lying 74 miles south of Boston and 180 miles northeast of New York City, Newport is known as a premier summer resort and is justly famous for its Gilded Age mansions, its quaint, small-town vibe, and its rich sailing history. The coastal community has a population of about 25,000 residents.

The Gilded Age is long gone, but Newport remains a “go-to” destination for wealthy Americans and wealthy foreigners, interested in purchasing a second home as an investment, a vacation property, or a retirement residence—or some combination of all three. Rental income in high season, for example, would be significant. It’s also not hard to imagine some buyers using the property in high season and renting it out to short-term renters at other times of the year.

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The combination of history, old money charm, stunning waterfront vistas, pleasant summer weather, gorgeous sandy beaches, and opportunity—in the form of available properties—is almost impossible to beat. 

According to a recent report by Pacaso, a national real estate broker, Newport County—in 2023—topped every other location in the US when it came to luxury second home transactions. The average price of a home in Newport, currently, is just over $2,000,000.

It’s important to bear in mind that Newport’s size means that its impact on the property market as a whole isn’t the same as, say, Indian River County, which is much more populous and where far more homes are on the market. 

Nevertheless, the performance of the Newport market in 2022-2023 indicates strongly that certain buyers are still keen to spend, even in the face of significant interest rate hikes, and are actively seeking out luxury property options across the country. 

Newport, home to many members of the country’s political and economic elite, especially through the spring and summer, remains a natural destination for those in search of uniquely high-end housing options. This makes New Port County an ideal choice when buying a second home.

Nevada County, California

Though traditionally known as a fairly subdued resort area, Nevada County, California has been transformed in recent years by a huge influx of new residents keen to help turn this part of the Sierra Mountain Range into one of the world’s premier ski destinations. 

Stunningly beautiful mountains, lakes, and forests also allow homebuyers to choose properties in relatively populated areas or—conversely—in areas entirely off the beaten track.

Nevada County’s biggest community—Truckee—located roughly 10 miles north of Lake Tahoe, is experiencing a boom straight out of a 19th-century gold rush. 

As numbers of full- and part-time residents swell, the city has green-lit a series of new developments, including a complete renovation of the Truckee Railyard. The historic downtown area of Truckee is set to expand by at least 75 acres and will feature a plethora of new housing, new restaurants, and new and exciting community spaces.

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During the cooler months, this part of the state offers exceptional opportunities for both skiing and snowboarding, as well as snowshoeing (if you’re so inclined). Warm summers create ideal conditions for golf, hiking, running, mountain biking, etc. Thereby making Nevada County a preferred location when buying a second home.

Potential buyers have no end of options. There are Victorian homes in Nevada City—a lovely little community—modern mountain retreats near Truckee, or secluded, extremely high-end properties along the Yuba River. 

Each area within the county is unique, which guarantees that those interested in buying a second home can identify a property that meshes with what they’re looking for.

The median sale price of a home in Nevada County was $599,000 in May 2024. 141 homes changed hands in the year leading up to May 2024, and, notably, most homes sold in 30 days or less. To state the obvious, the market remains incredibly hot.

Santa Fe County, New Mexico

Santa Fe County, home to the city of Santa Fe (known as “City Different”), calls forcefully to potential second-home buyers with its deep and vibrant cultural heritage, its unique and extremely impressive adobe architecture, and a spartan (but wildly beautiful) landscape that’s been beckoning artists for decades, if not centuries. 

The city of Santa Fe has a unique charm and it makes complete sense why it’s such an attractive destination for anyone in the market for a second home.

In the first quarter of 2024, the median sale price for a single-family home in the city of Santa Fe was just over $586,000, representing a roughly 3.5% increase over the previous year. In May 2024, 126 homes had sold in Santa Fe County over the previous year. This was well above the 104 that sold in the year prior.

Charleston, South Carolina

Frequently voted the number one city in America, Charleston, South Carolina, is renowned for its immense charm, stunningly beautiful antebellum architecture, and impressive Southern hospitality. 

Charleston is an increasingly popular destination for Americans who are considering buying a second home and are looking for an experience that’s a little different and touched by both history and indefinable grace and sophistication.

Charleston’s lovely cobblestone streets, breathtaking mansions, and fully intact historic district help residents and visitors alike recall the city’s central position in the Old South and its ongoing importance as a major center for culture and tourism. This is a city with a palpable historical feel, and it makes sense that immense numbers of second-home buyers are considering Charleston and its immediate environs.

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For those interested in a second home, Charleston makes a ton of sense. 

The winters are extremely mild, and both spring and fall are sunny and warm. Summer brings heat and humidity, but with the beach—and so many patios—nearby, the heat isn’t all that hard to beat. 

Residents love to make the most of the outdoors in Charleston, and after a bit of time in the city, it’s easy to see why. Walking through Charleston brings no end to enjoyment.

In May 2024, Charleston’s home prices had risen 13.4% over the previous year, selling for a median price of $635,000. Homes are rarely on the market for more than a month or two.

Kaua’i County, Hawaii

Hawaii is probably the most natural spot in the United States for a second home and for obvious reasons. 

This collection of breathtakingly beautiful tropical islands, roughly 2,500 miles off the West Coast of the continental United States, brooks no rival in terms of sheer aesthetic appeal. 

The beaches, the lush forests, and (ideally quiet) volcanoes—it all adds up to something unique and wondrous, and if you can afford to buy a second home here, you’re in rare company—or at least relatively rare company.

Why relatively? 

Because, even though the entire state of Hawaii boasts an enormous collection of homes for sale, the island of Kaua’i has emerged in recent years as the most popular of the Hawaiian islands for second-home buyers. 

Kaua’i, almost entirely rural until quite recently, has caught the fancy of both American and foreign buyers who appreciate the island’s unspoiled natural beauty and lack of development. 

Low inventory and swelling demand are pushing property prices into the stratosphere – with the top end of new luxury homes reaching into the tens of millions – but that hasn’t dampened interest at all, and Kaua’i is among the hottest second-home property markets in the US currently.

The median price of a home in Kaua’i County was $950K in June 2024, up 0.8% since last year. The median price per square foot in Kaua’i County is about $770, up 17.4% since 2023.

International Van Lines:

The Country’s Premier Provider of Long-Distance Moving Services

When it comes to helping Americans relocate, whether inside the United States or abroad, one full-service, long-distance moving company stands head and shoulders above all others: International Van Lines (IVL).

When choosing a moving company, important considerations include cost, available services, and timing flexibility.

So if you’re in the market for a second home, or you’ve already purchased a second home and need to start moving furniture and personal possessions, IVL stands ready to help.

How is IVL ranked?

IVL is consistently ranked among the very best domestic and international movers on planet Earth by some of the most respected publications in the country, including Forbes, USA Today, US News, and Consumer Affairs. 

Other moving companies try (and try hard!) but none of them has mastered the logistics of long-distance interstate relocation the way IVL has. 

Check out the full list of IVL moving services below to get a feel for what IVL can do for you.

Where does IVL operate?

IVL operates everywhere. Every state in the Union, and in more than 180 countries around the world. 

And because we’re based in Coral Springs, Florida—near Fort Lauderdale—we have a ton of experience moving clients into second homes (whether a house, condo, apartment, etc.). 

In fact, we’re just down the road from Indian River County, one of the destinations featured above, so we understand the challenges involved in filling up and organizing a home that you may not intend to use for many months (or even years) or that you may rent out or lease at various points for additional rental income.

Why choose IVL for moving when buying a second home?

We handle your personal possessions as if they were our own. After all, it’s not our cargo—it’s your cargo.

IVL has the experience, the personnel, and the infrastructure that no other moving company—local, long-distance, or international—can come close to matching. 

These assets give IVL a truly unique degree of flexibility and resilience. We can move more, we can do it faster, and we can do it better. 

Whether you’re buying a second home in Indian River County, in Cape May County, in Kaua’i, in Rhode Island, or in any other part of the United States—remember, IVL is uniquely positioned to get your stuff where it needs to be. No other moving company can say the same.

Click the link for a free moving quote or contact IVL at (877) 647-1336 to speak directly with a member of our team. We’d love to hear from you.

IVL’s moving services and moving costs

Wherever you may be thinking of buying a second home, IVL can get you there. For a ton of useful info on IVL’s comprehensive door-to-door relocation services and every single aspect of the long-distance or international moving process, including costs, Click here to know more. However, for those of us pressed for time (and that’s pretty much all of us these days), here’s what IVL offers, regardless of where you’re moving:

• Full packing and unpacking services. Packing supplies are also available. 
• Furniture assembly and disassembly.

• Transport using IVL’s fleet of premier moving vans inside the US as well as comprehensive ocean and/or air freight services.
• Extensive storage services, including short-term, long-term, and temperature-controlled.
• Rubbish removal.

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• Vehicle transport via enclosed or open trailer. Click here for additional details. Any and all motor vehicles can be moved internationally using our roll-on-roll-off (“RoRo”) service.
• Free limited liability protection and full value protection are available.
• Personalized moving services for unusually delicate items (e.g., pianos, artwork, antiques, and electronics).
• Comprehensive corporate relocation and military relocation services.
• Customs clearance management (for international moves).
• Live chat and customer service 24/7.
• Easy shipment tracking.
• Transparent, easy-to-understand estimates and moving quotes. Check out IVL’s online pricing calculator for a clear breakdown of moving costs and related expenses.

How much does IVL charge?

Moving costs obviously vary depending on your destination and the difficulty of getting to that destination. Moving from Miami to Indian River County, FL, for example, is effectively a local move in terms of fuel costs, while moving from Seattle to Santa Fe County, NM is a much more expensive proposition. 

In addition, moving “off-season,” in winter or spring, for example, can result in better rates and greater availability of personnel and resources on specific dates. 

Feel free to check out our moving cost calculator to get a better feel for the numbers involved. Moving costs inevitably ebb and flow in response to many different variables—fuel costs especially, but also other factors. Whatever the cost of your move comes to, remember: we’re fully transparent with you—the customer—when it comes to all fees and charges. Nothing is ever a surprise.

Is there anything else I should know?

To promote speed and efficiency, IVL occasionally partners with one or more local moving companies to help ensure that your belongings arrive on time and in perfect condition.

Remember, taking the time you need to fully understand the costs and payments involved in hiring a moving company like IVL is crucial. 

In addition, IVL usually requires a deposit—typically one-quarter of the final bill—though this is refundable in the event of cancellation. The balance is then split into two separate payments: 50 percent on moving day, and the remainder upon delivery. The deposit can be made using a credit card, check or ACH. 

Cancellations

Given the complex logistical arrangements that an international move requires, deposits received for any international move are not refundable.

Is International Van Lines fully licensed?

Yes. IVL is licensed by DOT, FMC and AMSA.

What do our customers have to say?

Our Trustpilot customer reviews average 4.8/5 stars. Other moving companies can’t say the same.

To check out our online pricing calculator click here! 

Contact IVL today to speak directly with a member of our team.

For your free moving quote click here!