11 Cheap Places to Own A Profitable Vacation Home!

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10) Portland, Maine

Once a rugged fisherman’s town, Portland has exploded on various ‘Top 10’ lists thanks to its creative culinary scene, gorgeous harbor, surrounding islands, and famous state parks. There’s also an impressive, albeit unpretentious, arts scene boasting exhibits and museums. In short, Portland’s got quirk and character oozing from all sides. Once spring hits, renting out your vacation home well into the fall shouldn’t be too much effort. However, when the frigid northeastern winters hit, you may find renters a bit scarcer. Portland has seen a huge increase in the housing market in the last few years. Just last year, home values jumped nearly 13% and are expected to increase by another 5% this year. The cost of an average home is above the national average at $285,000, but the returns on a piece of property here are high. The average rental rakes in nearly $2,000 a month!

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