In this article, we will be navigating through the factors determining a viable coastal living, while covering the 20 cheapest beach towns to live in the world. If you wish to skip our detailed analysis, you can move directly to the 5 Cheapest Beach Towns to Live in the World.
The Ideal Seaside Living
The world is home to diverse coastal towns which serve as popular tourist destinations. On January 21, Cambridge University Press reported that 2.15 billion people live in the near-coastal zone and 898 million people reside in the low-elevation coastal zone around the world, as of 2023.
Apart from the attraction towards an outdoor lifestyle, the pursuit of living in a beach town is driven by certain factors such as affordability, access to amenities, safety, and quality of life. Affordability primarily relates to housing expenses since people who wish to reside by the coast need a reasonably priced place to move in. Although waterfront properties can be expensive, certain coastal locations around the world offer a wide range of housing options at affordable prices. Many of the beach towns around the world are also deemed suitable for retirement due to the laid-back lifestyle that they offer. You can also view the best beach towns for retirement.
Home Builders Along the Coasts
Many of the affordable beach towns in the world such as Myrtle Beach, Virginia Beach, Gold Beach, and Gulfport are located in the United States. Numerous American home building companies offer a portfolio of cheaply priced houses in many of these towns. Some of these include Lennar Corporation (NYSE:LEN), LGI Homes, Inc. (NASDAQ:LGIH) and PulteGroup, Inc. (NYSE:PHM). Let’s take a look at what these firms have been up to.
Lennar Corporation (NYSE:LEN) provides move-up and active adult homes across the United States. On October 4, the company announced the debut of its model homes in the Acadia Pointe community in Central Oregon. The new community comprises three to four bedroom homes. Deschutes River and the Cascade Lakes are also in the vicinity of the new homes. Hence, buyers can access outdoor recreational activities throughout the year in Central Oregon. Furthermore, Lennar Corporation (NYSE:LEN) is currently offering a blowout sale under which price discounts will be offered on purchase agreements signed on select move-in ready houses at the greater Myrtle Beach till November 5.
LGI Homes, Inc. (NASDAQ:LGIH) is known for the construction of houses and housing developments that span across the US. The company continues to provide affordable houses in attractive locations. Multiple residential communities have been set up by the company in South Carolina which is one of the most affordable US states and is home to the popular Myrtle Beach. On September 18, LGI Homes, Inc. (NASDAQ:LGIH) also introduced Bella Terra as its new market where new houses are located at a short distance from the region’s beaches. Hence, this 2,642 square feet to 4,023 square feet house collection can be availed by those who wish to seek residence near serene waterfronts.
PulteGroup, Inc. (NYSE:PHM) is an American company known for its residential home construction. As reported by the company, new construction houses are available for purchase in the Myrtle Beach location at SayeBrook. Amenities include a swimming pool, pickleball courts and a community clubhouse. The Surfside Beach is only 3 miles away from the construction. Single-family houses ranging from 1,832 to 2,800 square feet are also available under the housing plan. You can also take a look at the most affordable beach towns to buy a house in the US.
Now that we have taken a look at the housing options in popular beach towns, we can move to the 20 cheapest beach towns to live in the world.
20 Cheapest Beach Towns to Live in the World
Our Methodology:
In order to compile a list of the 20 cheapest beach towns to live in the world, we followed a consensus approach. A list of the cheapest beach towns around the world was sourced from multiple sources including Money Inc., Thrillist, Go Nomad, The Travel and Bright Swirl. Moving on, we calculated average scores for all beach towns by dividing the sum of the respective ranks for a beach town on every source by the number of sources across which it was mentioned. Once we had a list of all beach towns that were mentioned the most and ranked highest across all the sources, we acquired their median home price from Properstar. Since affordability is the key factor that impacts the decision to reside in a place, we selected median home price expressed per square foot as our metric. The metric values are available as of September, 2023 and hence reflect the latest data on housing affordability in the respective locations.
Finally, we ranked the most affordable beach towns to live in the world in descending order of their median house prices per square foot.
20 Cheapest Beach Towns to Live in the World
20. Gold Beach, Oregon
Median House Price: $3,092
The total cost of housing, food, transport and healthcare in Gold Beach is less than the US average. Hence, Gold Beach is a cheap beach town to live in. It offers a suburban feel and a friendly community for young professionals, families and retirees to settle in.
19. Roatán, Honduras
Median House Price: $3,030
Roatán, Honduras is a budget friendly place to live near the beach. The median house price per square foot is $3,030 in Roatán, Honduras which ranks as a cheap and popular beach town globally. This beach town is a highly developed island in the Bay Islands and has white sand beaches to offer.
18. Virginia Beach, Virginia
Median House Price: $2,667
Virginia Beach is situated in Virginia and is another affordable beach town to live in the world. The median house price per square foot is $2,667 in Virginia Beach. It is also deemed a suitable place to retire. Clean and easily accessible beaches as well as waterfront homes are available to permanently settle in Virginia Beach.
Known American home builders holding cheap and diverse housing portfolios include Lennar Corporation (NYSE:LEN), LGI Homes, Inc. (NASDAQ:LGIH) and PulteGroup, Inc. (NYSE:PHM).
17. Patong, Thailand
Median House Price: $2,641
Patong, Thailand is situated on the west coast of Phuket. Patong Beach is one of the most popular attractions in Thailand which offers a wide range of water sports. The median house price per square foot is also $2,641 which is relatively lower for a sought-after tourist destination such as Patong. Houses, apartments and condos are available for living in the town.
16. Alanya, Turkey
Median House Price: $2,611
Alanya, Turkey is one of the 20 cheapest beach towns to live in the world. The beach town offers a traditional Turkish life at affordable rates. Cleopatra Beach in Alanya is a known affordable place in Turkey.
15. Las Terrenas, Dominican Republic
Median House Price: $2,263
Las Terrenas, Dominican Republic is a cosmopolitan beach town where the median house price per square foot is $2,263. The town provides all amenities at affordable rates and has attracted many expatriates to settle in its vibrant community.
14. Myrtle Beach, South Carolina
Median House Price: $2,255
Myrtle Beach is a popular beach town in the United States. It ranks as a cheap beach town to live in as the houses are available for low prices. The views of the Atlantic Ocean can also be enjoyed from the affordable waterfront properties in Myrtle Beach.
Lennar Corporation (NYSE:LEN), LGI Homes, Inc. (NASDAQ:LGIH) and PulteGroup, Inc. (NYSE:PHM) offer reasonably priced accommodation in some of the popular US beach towns.
13. Rio De Janeiro, Brazil
Median House Price: $2,125
Rio De Janeiro, Brazil is another cheap place to live by the beach in the world. The median house price per square foot is $2,125 in the city. Copacabana is a famous beach in Rio De Janeiro. Living expenses are also less in the area which makes it a suitable place for living.
12. Tulum, Mexico
Median House Price: $2,031
Tulum, Mexico ranks as one of the 20 cheapest beach towns to live in the world. Apart from being a common tourist site, Tulum offers budget friendly accommodations for permanent settlers. The median house price in Tulum is $2,031 which depicts its housing affordability.
11. Pedasi, Panama
Median House Price: $1,898
Pedasi is located on the Azuero Peninsula in Panama from where multiple beaches can be accessed. Food, transport and grocery options are also available in this small town. The housing and daily expenses are less in Pedasi which has also attracted many expats to live there.
10. Canggu, Bali, Indonesia
Median House Price: $1,790
Canggu is a small seaside town based in Indonesia. Many expats tend to live in the town due to the cheaply priced houses. The cost of living is also less in Canggu which makes it a cheap beach town to live in.
9. Las Palmas, Gran Canaria
Median House Price: $1,641
Las Palmas is a cheap European beach town to reside in the world. The median house price per square foot is $1,641 in the town and allows quick access to the beach. Accommodations available for rent are also quite affordable in Las Palmas.
8. Panama City, Panama
Median House Price: $1,627
Panama City is a vibrant metropolis in Central America and is surrounded by multiple beaches. The median house price per square foot in Panama City is as low as $1,627. Taboga and Isla Grande are popular beaches in the city.
7. Taghazout, Morocco
Median House Price: $1,608
Taghazout is an affordable beach town to live in the world. It is located on the southwest coast of Morocco and is a popular destination among surfers. The town is home to many residential options which are cheaply priced and suitable for living. Taghazout Beach and Madraba Beach are attractive seaside spots in the town.
6. Mazatlán, México
Median House Price: $1,529
The median house price per square foot in Mazatlán is $1,529 which makes it qualify as one of the 20 cheapest beach towns to live in the world. The town has welcomed many immigrants through its accessible waterfronts and friendly local community.
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Disclosure: None. 20 Cheapest Beach Towns to Live in the World is originally published on Insider Monkey.