Whether you’re looking for a permanent residence with proximity to water or an idyllic summer getaway, a lake town can be the ideal place to buy a home.
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“There has been a steady uptick in the number of people seeking out homes in lake towns over the past few years,” Glenn S. Phillips, CEO of Lake Homes Realty, told Realtor.com. “We see a trend across all our markets of buyers thinking, ‘Life is short, buy the lake home!’ Many of those seek out the more rural lake towns where homes may be relatively more affordable than at larger lakes or at lakes near cities.”
To find the most affordable lake towns, Realtor.com analyzed all the home listings for the past year within a half-mile of a named lake or pond, and then calculated the median prices from July 2022 through June 2023 for homes in those areas. Only towns with at least 50 home listings over that period were included. Here are the 10 small towns that made the cut, ranked by affordability.
Located about an hour northeast of Columbia, this South Carolina small town is within half a mile of Prestwood Lake. Property directly on the lake can be hard to come by, but you may luck out if you get wind of a listing early enough.
Pictured: Columbia, South Carolina
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Augusta Lake is a 190-acre human-made lake lined with parks, grassy areas and walking trails. The lake is a gathering place for the community — it’s home to Little League tournaments, concerts and annual celebrations like the Fourth of July festivities. Outside of those special occasions, residents regularly enjoy fishing, boating and kayaking on the lake.
Pictured: Olathe, Kansas
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Two Rivers’ position on Lake Michigan makes it one of the coolest areas on the lake, so it’s become a respite for people looking to escape the heat. Its lower temps have also earned it the nickname “Cool City.”
Part of the Cleveland metro area, Lorain is a small city on the shores of Lake Eerie. It’s close enough to big-city amenities to be convenient, yet far enough away that residents can truly enjoy the best of small-town lake life, with plenty of opportunities for kayaking, boating, fishing, swimming and water sports.
