Many urbanites who dream of waking up to forests and vistas instead of an urban jungle are making homeowner moves to mountain towns across the U.S.
Housing prices are surging in mountain areas with desirable outdoor recreation opportunities. A convergence of limited inventory and widespread demand is pushing up home values.
Realtors say these mountain areas are booming and should continue to do so in the future.
Steal this billionaire wealth-building technique
The ultra-rich have also been investing in art from big names like Picasso and Bansky for centuries. And it's for a good reason: Contemporary art prices have outpaced the S&P 500 by 136% over the last 27 years.
A new company called Masterworks is now allowing everyday investors to get in on this type of previously-exclusive investment. You can buy a small slice of $1-$30 million paintings from iconic artists, all without needing any art expertise.
If you have at least $10k to invest and are ready to explore diversifying beyond stocks and bonds,see what Masterworks has on offer. (Hurry, they often sell out!)
Bozeman, Montana
Looking for a mountain location that’s not too remote? It turns out a lot of other people are too. Many urbanites have flocked to Bozeman, which has driven up housing prices there.
"Bozeman has experienced substantial growth and price increases in the past four years,” says Robyn Erlenbush, broker and owner of ERA Landmark Real Estate, which has offices in Bozeman and other Montana cities.
People who relocate from larger, more densely populated coastal markets in search of a new lifestyle in a relaxed scenic place find that “southwestern Montana offers unparalleled recreation and mountain living,” Erlenbush says.
She adds that the city has nonstop air travel to 21 major markets during the ski season.
Want to learn how to build wealth like the 1%? Sign up for Worthy to get ideas and advice delivered to your inbox.
Cle Elum, Washington
You may not have heard of Cle Elum, a tiny town nestled in the Cascade Mountains. But the area is a prime example of a mountain location experiencing a significant real estate boom.
While it has just over 2,000 residents as of the last census, that number is increasing, thanks to the popular Suncadia Resort.
“Suncadia has become a magnet for homebuyers seeking a luxurious mountain retreat without sacrificing proximity to urban amenities,” says Chris Reis, a broker and founder of PNW Residences at Compass, which is based in Seattle.
The average home listing price has jumped from around $538,000 in January 2019 to more than $1.3 million recently, Reis says.
“The resort has opened up new subdivisions in recent years that are full of ongoing construction,” he says. “It's clear that demand for property in this community continues to soar.”
Jackson Hole, Wyoming
Known for its dramatic mountain peaks, abundant wildlife, and pristine wilderness, Jackson Hole is a haven for outdoor enthusiasts.
Latham Jenkins, a Jackson Hole-based associate broker at Live Water Properties, explains that “a major draw for both residents and investors is Jackson Hole’s dedication to land preservation.”
More than 97% of the area’s land is protected, preserving its unspoiled beauty in a way that’s increasingly rare in today’s urbanized world, he says.
“The expansive landscape provides endless opportunities for outdoor recreation — whether it’s skiing, hiking, or fly fishing,” Jenkins says.
With so much land set aside to preserve nature, the room for housing development is limited. That makes housing inventory in Jackson Hole scarce, which drives up the prices, Jenkins says.
Get a free stock valued between $5 to $200
Secret: You don't need thousands of dollars to buy thousand-dollar stocks or create a diverse portfolio.
Robinhood offers a method of investing called “fractional shares.” On its own, one share of a single stock could cost a lot of money, making it difficult to diversify. Robinhood allows you to buy pieces of stock instead, so you have the option to build a diverse portfolio quickly.
Let’s say you want to invest $250, as an example.
With that amount, you could build a relatively diverse portfolio with an investment of $50 in a big tech stock, $50 in a retail stock, $50 in an energy stock, $50 in a manufacturing stock, and $50 in a bank.1 <p>This content is for informational purposes only, you should not construe any such information as legal, tax, investment, financial, or other advice. </p> <p>To get stock reward, new customers need to sign up, get approved, and link their bank account. Stock rewards shares cannot be sold until 3 trading days after the reward is granted and the cash value of the stock rewards may not be withdrawn for 30 days after the reward is claimed. Stock rewards not claimed within 60 days may expire. See full terms and conditions at <a href="https://robinhood.com/us/en/support/articles/open-account-pick-your-stock/">rbnhd.co/freestock</a>.</p> <p>Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our Customer Agreement.</p> Robinhood Gold is offered through Robinhood Financial LLC and is a membership offering premium services available for a fee.</p>
Even better news? Add a Robinhood Gold membership, and you’ll get access to 4.25% (as of 11/15/24) APY2 <p>Annual Percentage Yield. Rate valid as of April 12, 2024. To earn interest, a cash balance is needed. If you have a margin balance, there is no cash balance to earn interest. Interest rates for cash sweep and margin investing can change at any time. Fees may reduce interest earnings.</p> on your uninvested cash3 <p>Interest is earned on uninvested cash swept from your brokerage account to partner banks. Partner banks pay interest on your swept cash, minus any fees paid to Robinhood. As of Nov 15, 2023, the Annual Percentage Yield (APY) that you will receive is 1.5%, or 5% for Gold customers. The APY might change at any time at the partner banks' or Robinhood's discretion. Additionally, any fees Robinhood receives may vary and are subject to change. Neither Robinhood Financial LLC nor any of its affiliates are banks.</p> <p>All investments involve risk and loss of principal is possible.</p> <p>Robinhood Financial LLC (member SIPC), is a registered broker dealer.</p> and the ability to buy and sell stocks 24 hours a day, 5 days a week.
Open and fund a Robinhood account and earn up to $200 in stock
Donnelly, Idaho
Lisa Cunningham — a Realtor with Better Homes and Gardens Real Estate 43° North in Meridian, Idaho — has represented close to 15 developers in Donnelly, where there are a lot of new subdivisions coming online to meet growing demand.
“Donnelly has experienced incredible growth in the last decade, with no signs of stopping,” she says.
New homes in Whistler’s Cove sit next to public land and have lake access. They’re listed at $750,000 to $950,000.
Idaho City, Idaho
Located just 35 minutes outside Boise, Idaho City has the charm of a small mountain town and one of the best hot springs in Idaho.
“If I were a betting woman, I would bet everything I could get my hands on on this town,” Cunningham says.
Property in Idaho City is more affordable than other posh mountain locations, as homes in the new Mores Creek Development are selling for under $500,000, Cunningham says.
Trending Stories
Ogden, Utah
Not all mountain markets are rural. Ogden is home to 87,000 people and sits less than 45 minutes north of Salt Lake City, right up against the Wasatch Mountains.
Prospective Utah homeowners seeking to avoid the inflated prices of nearby Salt Lake and Davis have begun seeking properties further north, causing the interest — and the prices — in Ogden to rise.
“People are drawn to the relatively low prices, and proximity to Pineview Reservoir makes it more attractive than populated, high-priced areas like Park City and Salt Lake,” says Justin Sisson, Realtor with Bickmore & Associates Realty in Draper, Utah.
Bretton Woods, New Hampshire
Bretton Woods is a hidden gem tucked away in the White Mountains. The area is a ski destination for skiers of all levels and is also home to the iconic Omni Mount Washington Resort & Spa.
“Nine condo communities and three single-family communities make up the majority of housing in this area, so the demand to buy in this special place is high,” says Arlie Vandenbroek, a Realtor with Coldwell Banker Lifestyles.
Bottom line
Whether you’re looking to spend more time in the great outdoors or simply to escape the bustle of city life, you’re not alone in fantasizing about a home in the woods
It’s easy to see the appeal of mountain living — fresh air, beautiful views, a lot to do, and modern amenities. The high housing prices in these regions reflect their desirability.
So, while chances are good, you’ll build wealth through rising equity in a mountain-side chalet, you’ll have to come up with a hefty down payment and beat stiff competition to buy one in the first place.
Masterworks Benefits
- Invest in art like a millionaire for a relatively low cost
- Art investments have outperformed the S&P 500 by over 131% for 26 years
- Purchase shares of artwork by top artists
- Hedge against inflation and diversify your portfolio
Paid Non-Client Promotion
FinanceBuzz doesn’t invest its money with this provider, but they are our referral partner. We get paid by them only if you click to them from our website and take a qualifying action (for example, opening an account.)
Subscribe Today
Want extra-cash moves to come right to you?
Stop browsing endlessly. Get proven ways to earn pocket money, help cover rent, and crush your debt — sent to your inbox daily.