In beachfront locales like Malibu and Nantucket, you have to be a millionaire to afford the median-priced home.
Beach season is upon us. If you're in the market for an affordable summer home within spitting distance of the ocean spray, there are some under-the-radar places across the US where you can nab a beach house for less than $250,000.
In other places, you'd better be a millionaire or billionaire if you want to get a showing.
In ritzy summer vacation spots like the Hamptons, Malibu, or Nantucket, for instance, the median price for property currently exceeds $3 million, according to a report from Realtor.com.
Realtor.com dug through its database to find the most expensive beachfront locales in America. It limited its scope to beach cities with populations between 1,000 to 100,000 and that had at least 30 properties on the market. And to ensure some geographic diversity, Realtor.com capped its list to two towns per state separated by at least 30 miles.
In Malibu, the most expensive beach town in the US, one neighborhood along the surf has earned the moniker "Billionaire's Beach." Music mogul David Geffen reportedly sold his home there last year for $85 million.
Read on for the rest of the 10 most expensive beach towns to buy a home — each of which has a median home price over $1.4 million.
10. Anna Maria, Florida
Population: 1,626
Median home price: $1.4 million
9. Avalon, New Jersey
Population: 1,297
Median home price: $1.46 million
8. Vineyard Haven, Massachusetts (Martha's Vineyard)
Population: 2,114
Median home price: $1.5 million
7. Key Biscayne, Florida
Population: 12,924
Median home price: $1.7 million
6. Haleiwa, Hawaii
Population: 3,970
Median home price: $1.88 million
5. Sullivan's Island, South Carolina
Population: 1,896
Median home price: $2.45 million
4. Nantucket, Massachusetts
Population: 10,856
Median home price: $3 million
3. Manhattan Beach, California
Population: 35,881
Median home price: $3.1 million
2. Water Mill, New York (the Hamptons)
Population: 1,559
Median home price: $3.75 million
1. Malibu, California
Population: 12,958
Median home price: $3.95 million
In beachfront locales like Malibu and Nantucket, you have to be a millionaire to afford the median-priced home. Read Full Story
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