Can You Afford a Vacation Home on a US Island? Check Out the Costs in These 8 Places
Doesn’t it sound idyllic to visit or retire to a beautiful island? The beaches, the views, the quiet. All of it sounds so relaxing, until you see how much homes on these islands cost.
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But just because a home is on an island in the U.S., does that make it unaffordable? Not necessarily. Here’s a look at the average home prices on eight U.S. islands. See whether you can afford to snatch up a vacation home in one of these places.
Martha’s Vineyard, Massachusetts
Average home value: $1,518,032
Welcome to Martha’s Vineyard, a Massachusetts island where the average home costs well over $1 million. For that price, however, you’ll be treated to fantastic beaches, boutique hotels, delicious wine and a rich food scene.
You can also check out the Martha’s Vineyard Film Society, which plays art house movies and hosts various film festivals. If you’re a sailor, you’ll have to take part in the island’s famous Round the Island Race and put your skills to the test.
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Mackinac Island, Michigan
Average home value: $412,031
For a reprieve from million-dollar home prices, check out Mackinac Island in Michigan. Going to Mackinac feels like going back in time. Cars aren’t allowed on the island, so you’ll have to get around with old-fashioned ways. You’ll see horse-drawn carriages, and you’ll be able to taste delicious homemade fudge in sweetshops.
Tourists can be seen kayaking in the water and staying at quaint bed-and-breakfast inns. For a slower pace at a lower price, this is the place to go.
Mount Desert Island, Maine
Average home value: $883,131
Mount Desert Island is home to Acadia National Park, which offers beaches, ponds and picturesque hiking trails. Some famous residents include Susan Sarandon and Martha Stewart.
Hot tip: When talking about Mount Desert Island, you pronounce “desert” like you’d pronounce “dessert.”
Maui, Hawaii
Average home value: $1,049,901
You can’t have a conversation about U.S. islands without talking about Hawaii. Maui offers the beauty of Haleakalā National Park (where you could camp inside of a crater if you wanted), renown beaches and copious snorkeling opportunities.
For being in one of the most expensive states to live in the U.S., Maui is surprisingly less expensive than a lot of other destinations on this list. Use that logic when you buy a vacation home in Maui for over $1 million.
Nantucket, Massachusetts
Average home value: $2,693,271
Yes, over $2 million for a home is pretty expensive, but Nantucket offers a lot for residents and visitors. Buying a home on Nantucket would give you access to some pristine beaches, the Whaling Museum, lighthouses a plenty and tons of shops.
Key West, Florida
Average home value: $1,102,802
For just over $1 million, you can have a home in the Florida Keys. Key West offers tons of things to do for you and those who visit your beautiful beach home.
You can stop in at one of the city’s many museums, visit the southernmost point of the contiguous United States, Jet Ski, kayak or just have a perfect picnic on the shore.
Kiawah Island, South Carolina
Average home value: $1,932,525
The average price of a home on Kiawah Island edges dangerously close to $2 million. Golfers absolutely love this oasis for its famous courses.
There are also plenty of resorts for your family to come visit you where they’ll be treated like true VIPs. Visitors rave about the old-time feeling on the island and the great food you can pick up at local markets.
Dauphin Island, Alabama
Average home value: $493,446
Dauphin Island is a much cheaper place to live than a lot of other places on this list. On the island, you can visit the Alabama Aquarium, which features animals native to Alabama. Plus, you can visit multiple beaches and sunbathe the day away.
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