2017’s Best Beach Towns to Live In
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|
Overall Rank |
City |
Total Score |
Effective |
Annual |
Difference |
Annual |
Adjusted |
|---|---|---|---|---|---|---|---|
| 1 | Alaska | 5.69% | $3,066 | -46.85% | $4,237 | 6 | |
| 2 | Delaware | 6.02% | $3,246 | -43.74% | $3,830 | 1 | |
| 3 | Montana | 6.92% | $3,728 | -35.37% | $3,561 | 3 | |
| 4 | Wyoming | 7.45% | $4,015 | -30.40% | $4,312 | 2 | |
| 5 | Nevada | 7.72% | $4,161 | -27.86% | $4,028 | 7 |
Timothy L. Hamilton Assistant Professor of Economics at University of Richmond
Stacey Swearingen White Chair and Professor of Urban Planning at University of Kansas
Sharon Moran Associate Professor of Environmental Studies and Leader of the Environmental and Natural Resources Policy (ENRP) Doctoral Program at SUNY
Sabrina McCormick Associate Professor in the Department of Environmental and Occupational Health at George Washington University
Philip E. Graves Professor of Economics at the University of Colorado Boulder
Maxine Burkett Global Fellow in the Environmental Change and Security Program at Woodrow Wilson International Center for Scholars & Professor of Law at the University of Hawai'i at Mānoa
Laura A. Bakkensen Assistant Professor in the School of Government and Public Policy at University of Arizona
John (Jack) Williams Professor of Geography and Director of the Center for Climatic Research at University of Wisconsin - Madison
Jessica Hellmann Director of the Institute on the Environment at the University of Minnesota on the Environment at the University of Minnesota
Jason Scorse Director of the Center for the Blue Economy and Associate Professor & Chair of the International Environmental Policy Program at the Middlebury Institute of International Studies at Monterey
Gary Bauer Professor of Law in the Cooley Law School at Western Michigan University
Dave Marcouiller Professor and State Extension Specialist in the Department of Urban and Regional Planning at University of Wisconsin
A. Dan Tarlock Professor of Law in the Chicago-Kent College of Law at Illinois Institute of Technology
Austin Troy Professor and Chair of the Department of Planning and Design at the University of Colorado Denver
What should people look for in choosing a beach property? Property markets tend to be well informed and do a good job of pricing that information. If you want great properties with great amenities, you’re likely going to pay for it. Decide what you like and what you’re willing to pay. A major uncertainty in what are often quickly growing beach communities is future development. It’s important to pay attention to zoning laws and commercial trends to help predict what type of development might take place in town or on neighboring lots. Local property taxes can also be important. High property taxes could deter commercial development and signal the community’s commitment to investment. Is it better to live in a beach town that has a large year round population compared to those with a more seasonal population? This all depends on what type of lifestyle you’re looking for. If the town lacks a considerable year-round population, full-time job opportunities will be hard to come by. Housing markets tend to be a bit thin in these towns as well, so resale will be a little more difficult. Towns with a year-round population tend to have better infrastructure and non-beach related services/amenities. What affects the value of beach properties over time? How can someone determine if a given property is a good investment for the long term? Determining whether any property is a good investment is always a bit tricky but any financial profession should be able to walk you through a few calculations. The only real difficulty is determining how much the property will appreciate/depreciate in the future. This depends on residential/commercial development in the town, economic growth in the surrounding area, and any changes that could impact natural amenities (i.e., climate change). In general, there’s a limited amount of coastline so one would expect a coastal price premium well into the future. How might beach-front real estate be affected by rising ocean levels due to climate change? Are some areas more vulnerable than others? What can homeowners and/or local authorities do to mitigate potential problems due to climate change? Climate change poses a very serious threat to beach-front real estate. Rising sea levels are well-understood and will likely cut off some quality property. The potential for an increase in storm surges is less well-understood but is real danger. Rising premiums in flood insurance markets are a good indicator of expected future risks. The best mitigation strategy from a homeowner’s perspective is to look at any changes over the last 20 years and understand that those will likely continue into the near future (and perhaps into the distant future). Of course, rising sea levels do not mean that beach-front property is disappearing, it’s just moving. Stacey Swearingen White Chair and Professor of Urban Planning at University of Kansas 
What should people look for in choosing a beach property? A starting assumption is that anyone purchasing property on or near a beach is investing in an asset for the long term, perhaps to share with family now and into the future. If I were investing in a beach property, I would be asking myself these questions: 1) Am I planning to live in this property year-round or seasonally? 2) How important is it that this property be part of my family for generations to come; 3) How important is it for the property to maintain or increase its value; 4) Might my goal of beach property include lakes as well as oceans? These questions reflect my own sense of concern and uncertainty over climate change impacts in coastal areas. Is it better to live in a beach town that has a large year round population compared to those with a more seasonal population? The answer here depends in large part on the first question indicated above. If I intend to live year-round in my new beach property, then a town with a year-round population would provide better amenities (e.g., nearby shopping, health care and so on). It would also provide opportunities for community involvement and activities that make being a resident in any community more appealing. While a year-round population does not rule out being a seasonal resident, conflicts between the “locals” and the “tourists” are possible, and some additional investigation over the current town climate would be important. Seasonal populations have their own opportunities for community-building, as families return to the same places over the years. What affects the value of beach properties over time? How can someone determine if a given property is a good investment for the long term? How might beach-front real estate be affected by rising ocean levels due to climate change? Are some areas more vulnerable than others? What can homeowners and/or local authorities do to mitigate potential problems due to climate change? I’m combining my responses to the last two sets of questions, as I see them as closely related. Before browsing even a few online listings for beach properties, my very first step would be to consult the most recent projections for sea level rise in the area(s) I am looking. There is no doubt that certain areas of the U.S. are already seeing the adverse impacts of sea level rise. Recent news coverage of cities like Miami demonstrates the dilemmas some beach towns will face in the very near future, dilemmas that include the possibility of abandoning existing housing stock in inundated areas. Climate change is here and we will be seeing its impacts far into the future. Given this inevitability, and acknowledging the inexact nature of predicting climate change impacts, determining a property’s investment value is challenging. It is for this reason that asking oneself about the importance of maintaining or increasing property values is so critical. If you view a beach property purchase similarly to paying for the same beachfront rental property over time, then you have more freedom to take a risk. If you intend to purchase a primary residence, however, or are more risk-averse, then you might well want to ask yourself whether the ocean is the right place for you. Property off the coast or lakefront property may provide many of the same desired qualities with more investment potential. Finally, homeowners and local authorities can do a number of things both to mitigate and adapt to climate change impacts. Beyond the steps that all of us can take to limit our production of greenhouse gases, avoiding or preventing new development in flood-prone areas is one obvious way to avoid future problems. Maintaining beachfront vegetation, reducing impervious surfaces, and elevating property above anticipated storm surge levels are all steps that homeowners can consider and local authorities can require or incentivize. Sharon Moran Associate Professor of Environmental Studies and Leader of the Environmental and Natural Resources Policy (ENRP) Doctoral Program at SUNY 
What should people look for in choosing a beach property? Anyone even considering buying a second home should be ready for a second set of hassles: the second mortgage payment, the second roof that might fail unexpectedly, the second lawn care guy that might accidently mow down your new berry bushes, etc. But in exchange for that extra effort (and plenty of cash, which might have been moldering away in some bland investment), there’s the payoff: a sweet spot that’s yours and yours alone, where you can have respite, and inhabit a place that is dedicated to your leisure. People are passionate about beaches. And coastal communities offer so many different activities that they are popular with people who want something-for-everyone. Lots of people want vacations where they can “make memories,” and having a range of activities, active and otherwise, works out well for families juggling varied interests and abilities. If your preferences include solitude, open space and nature, you'll want to consider less-developed areas, but don't be surprised when picking up a quart of milk requires a vehicle and the better part of an hour. But if having gourmet options for dinner are the highlight of the week, make sure you target villages and towns that offer those options. Owning a second home means more responsibility, financial and otherwise, and anyone who doesn't relish that might consider other forms of ownership. These could include: condominiums, fractional ownership, and timeshares, among other things, and these forms of ownership involve less expense and responsibility, but at the cost of control and independence in decision-making. Also, some near-coast properties include deeded beach rights, thus providing some of the benefits of owning waterfront property without higher taxes, greater risks, and special management hassles of being right on the water. The insurance industry has been tracking threats for years; in some places, premiums are reduced when property owners take proactive steps, such as raising a home in a flood prone area. The bottom line: until you're certain about exactly what you want, and what your options are, it's always smarter to rent before you buy. Is it better to live in a beach town that has a large year round population compared to those with a more seasonal population? In contrast to seasonal communities, those with a large year round population offer more conveniences: they will have more options for shopping, healthcare, and entertainment, for example. Consider how important these things are to you, and whether you need to have them in your immediate environment or not. But there’s a minor trade-off: beach towns that are year round may not have the same celebratory spirit as those seasonal communities where people are collectively aware of the limits of their time together. Another thing that shapes how people inhabit beach towns is where they are located. Beach towns located near major cities have their own distinct weekend patterns: spend time on Cape Cod or in the Hamptons and the traffic alone will underscore how people move back and forth when they are able to get away from work. However, the way people choose to handle their work-life balance is changing, especially with more options for telecommuting. What affects the value of beach properties over time? How can someone determine if a given property is a good investment for the long term? There's a website that lets you enter a property’s address and see whether it would be underwater, given different sea level rise scenarios. Find it here. Lots of key information has been aggregated and made more user-friendly, and site-specific queries yield local maps with projections and even some street views. Investment managers snicker at people who think that second homes are a two-for, combining income and fun. While it’s not out of the question, it can only work in specific circumstances. Owning beach property in order to make a profit involves different strategies, and most people are not interested in becoming a landlord (although Airbnb is making it easier to help people have test run). Beach properties are no small expense, however with careful planning, some families managed to take advantage of rental opportunities and tax benefits, and enjoy property typically available only to those with higher levels of wealth and income. A more realistic way to approach it would be as an investment that holds its value over time and provides tangible (though non-material) benefits in the meantime. The details make-or-break the options, so people need to consult their financial planners to know what might work for them. How might beach-front real estate be affected by rising ocean levels due to climate change? Are some areas more vulnerable than others? What can homeowners and/or local authorities do to mitigate potential problems due to climate change? No one really knows what lies ahead. Climate change can affect coastline communities lots of ways. While sea level rise is the most well-publicized, some other impacts could include: increases in frequency and severity of storms, changing erosion patterns, problems with wastewater and storm water drainage systems, threats to water supplies (especially with salt water intrusion into aquifers), and increased cost for repairing and/or replacing infrastructure, such as bridges and docks. Local authorities will bear most of the responsibility for managing these impacts; as we have seen in case of Miami, Florida (where a forward-thinking mayor is grappling with properties that flood during the moon tides), alert managers working at the local scale can help address immediate problems, even if elected officials at the state and national levels practice denial and insist on keeping their heads in the (shifting and eroding beach) sand. Communities with capable and effective local government are better positioned to adapt to changing circumstances than those lacking in capacity for self-management. Still, there's nothing that secures a community’s future more than active citizens who feel personally invested and are actively engaged, through environmental groups, planning boards, town councils, etc. Sabrina McCormick Associate Professor in the Department of Environmental and Occupational Health at George Washington University 
What should people look for in choosing a beach property? Most people look for beauty and ocean access. That's fair if you're only going to be visiting briefly. If you're going to purchase a home, your considerations should have a longer time horizon and therefore consider the risks. What affects the value of beach properties over time? How can someone determine if a given property is a good investment for the long term? One important factor for a home buyer to be thinking about is both short and long-term flood risk. The flood risk maps by the Federal Emergency Management Agency do not account for sea level rise or the short-term risks that have been increased by highly variable weather patterns falling outside of historic norms. So, you have to do that legwork yourself. In many areas, insurers are already thinking about that risk and often not offering flood insurance. That's critical since a flooded home without insurance is a huge financial liability. How might beach-front real estate be affected by rising ocean levels due to climate change? Are some areas more vulnerable than others? What can homeowners and/or local authorities do to mitigate potential problems due to climate change? There are many countries where building or living in flood zones is simply not allowed. I think this is wise, considering it reduces the risk for both the homeowner herself, as well as the broader pool of the insured who end up covering other people's losses through increased rates. Areas that are prone to flooding events are particularly risky, and should really be out of the question when you're thinking of investing in a purchase. Does this mean you'll end up with a home that doesn't have a view? Not necessarily. However, it may mean that you have a home whose value increases when those closer to the beach decrease due to their being too risky. Philip E. Graves Professor of Economics at the University of Colorado Boulder 
What should people look for in choosing a beach property? This depends on whether one is purchasing to live at the property or whether it is an investment property. In the first case, eccentric/individual preferences matter much more; in the latter case, the concern must be with the average preferences of others. The presence of the ocean amenity will have value in either case. As a general statement, the choice of beach property will be guided by the same concerns as with the choice of an inland property. Is it better to live in a beach town that has a large year round population compared to those with a more seasonal population? Again, if this property is to be lived in by the owners, that would depend greatly on individual preferences . Some would look forward to the down season, while others would like the continuity of services that would be present in year-round destinations. As an investment, annual rentals would make much more money for year-round destinations, but seasonal population destinations would have higher monthly rents during the high season. In the latter case, the owner could enjoy the property at other times, but acquire much higher monthly income during high season (e.g., "snowbird" rentals). What affects the value of beach properties over time? How can someone determine if a given property is a good investment for the long term? The value of an asset of any type is determined by the flow of services that asset delivers over time, combined with whether that asset is a "normal" good, an "inferior" good, or a "superior" good. The ocean housing asset "bundle" (the combination of house quality and locational attributes) is likely to have the property that rising national incomes result in greater demand, hence property value gains. Locations with "inferior" amenities (e.g., Detroit, Flint, Buffalo) will have declining values over time, as rising income reduces the demand for such locations. Oddly, buying a place where values are expected to fall (e.g., rustbelt) can be just as profitable as buying a place where values are expected to rise (e.g., sunbelt), because the current selling prices will embed the expectations. How might beach-front real estate be affected by rising ocean levels due to climate change? Are some areas more vulnerable than others? What can homeowners and/or local authorities do to mitigate potential problems due to climate change? This greatly depends on very specific traits of individual properties. The one on a hill, other things equal, will sell for much more than the one five feet above sea level. There is, in this context, a very intractable problem of individual versus collective action. This is discussed in great detail here. Maxine Burkett Global Fellow in the Environmental Change and Security Program at Woodrow Wilson International Center for Scholars & Professor of Law at the University of Hawai'i at Mānoa 
What should people look for in choosing a beach property? To be quite honest, I would avoid beach property altogether. According to what we understand from the observed and forecast sea level rise, beach property is uniquely vulnerable to extreme high tide, flooding, and erosion -- among other things. And, to the extent that you can protect your own property, it might be at the expense of your neighbors’. Of course, like most things, all events are local so the nature of the coastline for the east or west coast -- north or south -- will vary. So, too, will the vigilance of the local leadership in making their coastal communities more resilient. Either way, it’s a risky proposition. Updated sea level rise forecasts are never better than the prior one. One would do well to fully understand and appreciate the risks before choosing to commit to beachfront property. What affects the value of beach properties over time? How can someone determine if a given property is a good investment for the long term? As mentioned above, these questions regarding investments are all about risk -- current assessments of existing and future risk to the property, as well as one’s aversion to that risk. I would certainly seek to gain a better understanding of natural hazards coupled with the increased risk climate change introduces -- extreme weather events, including storms and coastal flooding, and rising seas. I would also consider the insurance industry’s capacity and waning appetite for more frequent and greater losses resulting from these events. How might beach-front real estate be affected by rising ocean levels due to climate change? Are some areas more vulnerable than others? What can homeowners and/or local authorities do to mitigate potential problems due to climate change? Each coastline is unique and the resilience measures of each locality are equally so. The local impact of sea level rise and coastal flooding will differ from place to place, but a rise in nuisance flooding and heightened sea level is more or less shared across coastal communities in the United States. And, yes, some areas are more vulnerable than others -- because of coastal geology, existing built infrastructure, among other things. It is also important to remember that vulnerability is not just determined by your proximity to the coastline or if you are in a hurricane alley. Often times one’s ability to recover will depend as much on the level of preparedness at the individual level, as well as the state and local levels of government. There are, for example, numerous guides on disaster preparedness for homeowners, like NOAA Sea Grant’s Homeowners Handbook to Prepare for Natural Hazards, and policy tools for local authorities to protect their citizens and assets, like those laid out in Georgetown Climate Center’s Adaptation Toolkit: Sea Level Rise and Coastal Land Use. Laura A. Bakkensen Assistant Professor in the School of Government and Public Policy at University of Arizona 
What should people look for in choosing a beach property? A rich literature on hedonic analysis shows us that properties are made up of many characteristics, each with different values. Thus, people should consider what aspects are important to them, personally, and how much they are willing to pay for each property. Some people enjoy proximity to beaches or expansive views. Others prefer to live near business centers or reduce commute times. Another important aspect is the flood risk of a property. Is it better to live in a beach town that has a large year round population compared to those with a more seasonal population? There would, of course, be differences such as employment and business opportunities as well as differences in traffic, etc. What affects the value of beach properties over time? How can someone determine if a given property is a good investment for the long term? In perfectly competitive markets, the value of a property reflects the present value of the future stream of net benefit from that property over time. However, sometimes properties are undervalued or overvalued by the market. Thus, a potential buyer can see if the current price is worth it to them. It’s also important to accurately assess a property’s current and future characteristics. New research has shown that people may pay too much for a house if they are not properly assessing future property risks, such as flood risk. How might beach-front real estate be affected by rising ocean levels due to climate change? Are some areas more vulnerable than others? What can homeowners and/or local authorities do to mitigate potential problems due to climate change? Loss of land due to both the slow but persistent sea level rise as well as inundation from coastal storms can negatively impact coastal properties. Risks from both these saltwater threats are, indeed, different across space. In addition, vulnerability includes the level of preparedness of individual properties and communities. Some tips to increase resilience include staying informed about the potential threats (such as accessing your flood risk zone according to the National Flood Insurance Program) and assessing the costs and benefits of potential protection strategies such as building a sea wall. John (Jack) Williams Professor of Geography and Director of the Center for Climatic Research at University of Wisconsin - Madison 
How might beach-front real estate be affected by rising ocean levels due to climate change? Are some areas more vulnerable than others? What can homeowners and/or local authorities do to mitigate potential problems due to climate change? Climate change and rising ocean levels are a long-term problem for beach-front real estate -- they can be expected to exert a negative drag on housing prices in coastal areas and to raise insurance rates. Current rates of ocean level rise are modest, 3.1 +/- 1.4 cm/decade (Dangendorf et al. 2017 PNAS). However, sea level rise is irreversible, and may accelerate in the future -- much depends on the rate of melting of the Greenland and Antarctic ice sheets. I personally would be very cautious about making long-term investments in coastal real estate. The areas of greatest vulnerability to sea level rise are:
- Those subject to hurricanes or other strong storms (the worst impacts of sea level rise come from the enhanced exposure of coastal areas to flooding from storm surges);
- Areas where the land is sinking (sinking land plus rising ocean is a bad combination; see New Orleans);
- Areas of low topographic relief (i.e., Florida and much of the U.S. southeastern coastline);
- Areas without coastal barrier islands, salt marshes, or other natural barriers to storm surges (always best to have something between you and an incoming storm).
- Raise and toughen beachfront houses so that they can withstand storm surges.
- Invest in protection and restoration of coastal salt marshes and barrier islands, where possible. These are a low-cost natural barrier to storm surges.
- Develop long-range plans to move critical infrastructure (e.g., emergency services, hospitals) out of storm surge zones.
How might beach-front real estate be affected by rising ocean levels due to climate change? Are some areas more vulnerable than others? What can homeowners and/or local authorities do to mitigate potential problems due to climate change? The world's oceans are rising for two reasons. First, the average temperature of Earth is increasing because greenhouse gases are increasing the amount of heat trapped near the Earth's surface. This warmer atmosphere warms the oceans, too. Warmer water takes up more space, and an expanding ocean leads to a higher sea level. Second, the amount of water in the ocean will increase when ice held frozen on land melts from rising temperatures, and this new water raises the sea level. The level of the oceans rises more slowly than temperature, however. How much the ocean rises depends on how quickly land ice melts (and it seems to be melting more quickly than scientists once thought). Our best guess about sea level rise will be 1.5-3.3 feet by the end of this century, by 2100 (if we continue releasing greenhouse gases). But the seas will continue to rise for hundreds of years thereafter as they equilibrate to the warmer climate. The ocean does not rise evenly in different places around the world. In some places, sea level is rising very little because the land itself is (still) rebounding from the end of the last ice age -- the land is rising while the seas are rising too. In other places, there are steep gradients near the coast, so that rising seas have relatively small effects on land. But in areas with little topography, a small amount of sea level rise slides relatively far inland. Parts of the eastern U.S. are like this -- such as southern Florida -- where a relatively small amount of sea level rise covers a very large area. In Miami, for example, a rise of just a couple feet would flood most of Miami Beach. Another concern about sea level rise is damage from storms. When sea level is higher, the damage from storms extends further onto land than it did in the past. There are several things that we can do about sea level rise. First, we can stop and slow down greenhouse gas emissions to keep the seas from rising -- or make sure they rise as little as possible. Second, we can block rising seas with a variety of artificial and natural techniques such as sea walls and coastal wetlands. Wetlands are particularly important to reduce the effects of storms, because wetlands absorb the force and damage of high seas. Land owners can work with government to put these strategies and assets in place, as well as working to protecting their own property. Third, we can retreat, moving key infrastructure and people away from the coast to protect them from rising seas. Cities, states and insurance companies will play an important role in helping land owners manage reconstruction and relocation. Jason Scorse Director of the Center for the Blue Economy and Associate Professor & Chair of the International Environmental Policy Program at the Middlebury Institute of International Studies at Monterey 
What should people look for in choosing a beach property? Besides the usual, is it near sea level and at risk of storm damage? Is it better to live in a beach town that has a large year round population compared to those with a more seasonal population? Depends what type of lifestyle you want. What affects the value of beach properties over time? How can someone determine if a given property is a good investment for the long term? I don't think real estate is ever a particularly good investment relative to others, but make sure the property is not near sea level, eroding cliffs, or any area with lots of hurricane potential. How might beach-front real estate be affected by rising ocean levels due to climate change? Are some areas more vulnerable than others? What can homeowners and/or local authorities do to mitigate potential problems due to climate change? Climate change is going to devastate much of the U.S. coastal real estate and many people are going to lose a lot of money. The question is when, not if. The best thing people can do is to vote for politicians who actually recognize climate change and want to do something about it, and don't build/buy in risky areas. Gary Bauer Professor of Law in the Cooley Law School at Western Michigan University 
What should people look for in choosing a beach property? As with any real estate, you need to be sure that you have a qualified inspector check to make sure that any of the modifications have been done in compliance with local building codes and zoning. Many of the beachfront properties have expanded the accommodations to house additional visitors or to rent the property to others during times when they are not using the property. As a result, additional baths might be added without proper permits and the septic systems or sewage systems are inadequate to service those additions. Another often-overlooked aspect of living on the water includes confirmation of legal boundaries. A seller might point to "apparent" lot lines from the placement of fences, trees or shrubs. They might get along with the neighbor bordering their property and you find after purchasing the property that when that good neighbor sells to someone else, that new owner might have a staked survey done and to your amazement, you own 10 or 20 feet less than what you thought. Get a staked survey by a licensed surveyor and verify the boundaries. I have seen many property line disputes arise on waterfront property. People are very jealous of their waterfront and every foot is precious to them. Make sure that what you think you are buying is what you are buying. Is it better to live in a beach town that has a large year round population compared to those with a more seasonal population? I am not so sure it matters as much as the strength of the local economy over time. If employment and the local economy is strong, you will have less trouble keeping your property values sustained through the tax base than if the permanent residents come and go with the ups and downs of the economy. What affects the value of beach properties over time? How can someone determine if a given property is a good investment for the long term? Buying a beach house for the purpose of investing is not, in my opinion, a good idea. I would say, if you like the property and can afford it, including all of the carrying costs, then if it increases in value, great -- but don't depend on it. During the recent real estate crash, waterfront property was not immune from downturns in the real estate market any more than any other properties. In fact, for many individuals, the second home proved to be unsustainable and many more of them went on the market depressing the market significantly. How might beach-front real estate be affected by rising ocean levels due to climate change? Are some areas more vulnerable than others? What can homeowners and/or local authorities do to mitigate potential problems due to climate change? The federal government flood insurance program has raised rates significantly over the last 10 - 15 years largely because of the heavy losses sustained as a consequence of some rising sea levels. But this was also due to increased pressure on waterfront development over that time period without adequate protections in place to insure structural integrity during major storm events. As a result, the losses experienced under flood insurance through the federal government has been reassessed, and those losses factored into current rates. This has had a dramatic effect on the ownership of waterfront property in all venues and forced many people to abandon formerly buildable lots rather than carry the long term cost of insuring those properties. When they do build, the cost of building sustainable structures during major storm events has increased the cost of that housing and the replacement costs continue to go up as local building codes require greater structural engineering to withstand major flooding and wind damage. Dave Marcouiller Professor and State Extension Specialist in the Department of Urban and Regional Planning at University of Wisconsin 
What should people look for in choosing a beach property? This varies widely. Items that are explanatory include:
- Proximity to primary residence;
- Quality of the water body;
- Existing development and/or developability of adjacent land;
- Previous experience with the region in which the water body exists.
- Proximity to metropolitan area;
- Quality of natural amenities;
- Existing development and/or developability of adjacent lands.
How might beach-front real estate be affected by rising ocean levels due to climate change? Are some areas more vulnerable than others? What can homeowners and/or local authorities do to mitigate potential problems due to climate change? There is mounting evidence that purchasers of beachfront property, especially from the Mid-Atlantic south and along the Gulf Coast, are paying more attention to sea level scenarios. Purchasers would be advised first to determine whether the property is in a mapped FEMA flood plain, and thus flood insurance is a pre-condition to a mortgage. Purchasers should also check hurricane, and more importantly, storm records for the area. As more frequent intense rain events occur, storm surge is a real problem. All this is in addition to any local land regulations that have set back land construction standards. Austin Troy Professor and Chair of the Department of Planning and Design at the University of Colorado Denver 
What should people look for in choosing a beach property? The desirability of a particular beachfront property is largely in the eye of the beholder. People live near the beach for beautiful views and access to the water, and often these judgments are very subjective. So those who want to live along the beach should first of all follow their gut. That being said, potential buyers should also closely consider the risks. Beachfront living comes with a lot of environmental hazards. These homes are potentially subject to flooding, storm surges, high winds, hurricanes, coastal erosion, and even pollution, depending on their geography. Interestingly, research finds that beach dunes play an important role in regulating some of these hazards. Large dune widths particularly help buffer adjacent housing from storm surges and flooding. Keeping dunes at least partially vegetated can help make those dunes even more effective in these roles. Potential buyers should closely consult flood and other hazard zone disclosure reports. Most transactions (those that involve financing by a federally regulated financial entity) will require a flood zone determination, and that should be closely reviewed. Buyers can also hire experts to review the geology, erodibility, and even potential hurricane exposure of the site. Given how expensive most beach homes are, such an expense prior to closing is well worth the money. Is it better to live in a beach town that has a large year round population compared to those with a more seasonal population? This is a difficult question to answer, and really depends on the preferences of the buyer. If he or she is looking for a vacation or retirement home and desires privacy, one would imagine that they would opt for a town with seasonal population. If that person intends to work and wishes to have access to a viable employment market, or if they just like to have more company and activity, then a year round population makes more sense. How this factor affects the premium paid on beachfront property is hard to say, although I imagine premiums will exist in both cases. What affects the value of beach properties over time? How can someone determine if a given property is a good investment for the long term? Beachfront property is highly desirable and can offer stunning views and great recreational opportunities. According to the literature, the premium for beachfront property is typically large, but varies significantly by market. About 10 years ago I worked on a project for the New Jersey Department of Environmental Protection, helping them value their natural capital, and we explored the impacts of beaches on property values in several different markets. Our econometric models of seven housing markets showed that for four of those markets, price premiums were very large -- an increase of between $81,000 and $194,000 on average for being within 300 feet of a beach, relative to similar non-beach properties. For one market segment, prices were found to be slightly lower along the beach, although that may have been due to measurement error. And for two of the seven markets, the positive price premium extended as far as 2000 feet away from the beach, with values ranging from $16,000 to $44,000. Several factors have been found to influence the magnitude of the premium. One is beach width. One study in South Carolina found that each one-foot increase in beach width was associated with over $500 in property value increase for direct beachfront property, while that premium was about half the amount for properties located ½ mile from the beach. Another is water quality. While the impact of ocean water quality on property values still needs more study, a number of studies have looked at water clarity in lakes and found a significant impact. For instance, in a series of New Hampshire lakes, a study found that a one meter decrease in water clarity could reduce adjacent housing prices by between 0.9% and 6% of sales price, depending on the market segment. And finally there is the question of environmental hazard. The more objectively quantifiable is that hazard for a particular property, the more of a negative impact it will have on property values. If this hazard is already known prior to transaction, the ultimate sales price should theoretically reflect this hazard. But if a hazard doesn’t become apparent until after you purchase a home (say, that a beach zone is eroding far faster than anyone previously thought), that means you are likely to take a haircut on the property. Likewise, if a major disaster happens that affects beachfront properties in the vicinity, this will also have a significant downward effect on prices. These risks go with the territory when it comes to waterfront ownership. How might beach-front real estate be affected by rising ocean levels due to climate change? Are some areas more vulnerable than others? What can homeowners and/or local authorities do to mitigate potential problems due to climate change? Following up on my last point to the question above, climate change increases the chance that potential hazards like flooding, storm surge, wind, hurricane, etc., will catastrophically affect a beachfront property. People talk a lot about the rise in sea level (which has already risen 8” since 1880) with respect to global climate change. However, that rise is not just projected to manifest like the slow filling of a bathtub (although averaged over the long-term, it is kind of like that). Instead, it will be characterized by many and more extreme coastal storm surges, in which we see sudden and violent rises in water level, exposing coastal properties to catastrophic flooding. Eventually, even in the absence of storm surges, the lowest lying properties will be too expensive to protect and so will be lost to sea level rise. Some of the lowest lying communities in the U.S. are already feeling this effect. A 2016 New York Times piece conducted a detailed analysis of the potential impacts of sea level rise on coastal real estate, and found that they are appreciating less rapidly than other markets. They report huge potential increases in the hazards that coastal landowners will face; for instance, Southeast Florida’s current 10 tidal floods per year are predicted to increase to 240 per year by 2045. Facts like this are why chief economist of Freddie Mac, Sean Becketti, has issued dire predictions suggesting storm surges will lead to the collapse, and even abandonment of coastal real estate markets. For many coastal properties, these hazards may not become material for another 3-5 decades, depending on the location. But owners in such situations should be aware that expectations of this future condition may creep into the price-setting behaviors in coastal property markets before then, leaving them with far less valuable properties. It’s hard to say when we’ll start seeing significant across-the-board drops in coastal real estate values, but all coastal owners should closely monitor market indicators and those who are most risk averse may want to consider moving sooner rather than later.
Methodology
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