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When you think of a second home, you often think of a home near the water or mountains as the best investment. But some surprising cities—far from coastlines or mountains—can also make for a good second-home investment spot.
Demand for second homes has skyrocketed since the pandemic, as have prices. Hippo, a homeowners insurance firm, analyzed median home costs, average home insurance premiums, property value gains, crime rates, and more to identify the second-home markets with the best investment potential. Some unexpected markets topped its list that offers lower median home prices, low crime rates, and more. They broke down the top markets by region of the U.S.
Southern Hot Spots
1. El Paso, Texas
- Median home price: $165,671
2. Laredo, Texas
- Median home price: $162,959
3. Winston-Salem, N.C.
- Median home price: $184,934
4. Greensboro, N.C.
- Median home price: $195,842
5. Lexington, Ky.
- Median home price: $240,302
Midwestern Hot Spots
1. Fort Wayne, Ind.
- Median home price: $174,473
2. St. Louis
- Median home price: $158,572
3. Detroit
- Median home price: $52,905
4. Lincoln, Neb.
- Median home price: $237,557
5. Milwaukee
- Median home price: $163,980
Western Hot Spots
1. Glendale, Ariz.
- Median home price: $333,159
2. Boise, Idaho
- Median home price: $495,485
3. Las Vegas
- Median home price: $325,485
4. Bakersfield, Calif.
- Median home price: $315,014
5. Riverside, Calif.
- Median home price: $533,062
Northeastern Hot Spots
1. Newark, N.J.
- Median home price: $359,845
2. New York
- Median home price: $662,535
3. Philadelphia
- Median home price: $221,996
4. Pittsburgh
- Median home price: $219,571
5. Buffalo, N.Y.
- Median home price: $186,970