IRVINE, CA--(Marketwired - July 01, 2016) - RealtyTrac® (www.realtytrac.com) the nation's leading source for comprehensive housing data, today released a special report ranking the best bargain beach towns for summer 2016 based on median home prices, average summer temperatures, air quality and density of registered criminal offenders.
For the report RealtyTrac analyzed more than 1,400 cities in coastal counties as defined by the U.S. Census Bureau. The list was narrowed all the way down to the top ranking bargain beach town in each of the 15 states with a city matching the final criteria for a bargain beach town (see full methodology below).
"Buying a second home or investment property in a beach town can help families save on summer vacations for years to come and also potentially generate vacation rental income," said Daren Blomquist, senior vice president at RealtyTrac. "While real estate close to the ocean tends to be pricier, bargains are still available particularly in smaller towns off the beaten path where home prices have been slower to bounce back from the housing downturn. We picked the highest-ranked bargain beach town from each state to provide a good sampling of the diverse beach town experiences available across the country."
Only cities bordering the ocean with a population of 50,000 or fewer and with an average June-to-August temperature between 60 and 80 degrees were included. The list was then narrowed down to the top 75 beach towns based on a bargain beach index that factored in air quality, density of registered criminal offenders, median home prices relative to other beach cities and median home prices relative to the 2006 home price bubble.
The total index score was from 0 to 500, with 500 being the best possible index score. Average temperature data came from the National Oceanic and Atmospheric Administration. Air quality data came from the Environmental Protection Agency. Median home price data came from publicly recorded sales deed data collected by RealtyTrac. Registered Criminal Offender data came from data collected from state offender registry sites collected by RealtyTrac subsidiary Homefacts.
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RealtyTrac collects and licenses multi-sourced public record real estate data -- including tax, deed, mortgage, foreclosure, and proprietary neighborhood and parcel-level risk -- for more than 150 million U.S. properties, providing access to that data for businesses, consumers, policy makers and the media in a variety of venues all designed to increase real estate transparency: RealtyTrac.com is a property search and research portal for foreclosures and other off-market properties; Homefacts.com is a neighborhood research portal providing hyperlocal risks and amenities; HomeDisclosure.com produces detailed property pre-diligence reports; and RealtyTrac Data Solutions delivers real estate data and analysis to businesses through bulk file licenses, APIs, trend reports, and customized marketing lists. RealtyTrac data is cited by thousands of media outlets each month, including frequent mentions on CBS Evening News, The Today Show, CNBC, CNN, FOX News, PBS NewsHour and in The New York Times, Wall Street Journal, Washington Post, and USA TODAY.
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