Here’s what the experts have to say about buying on Oregon’s Wallowa Lake. (P.S., the locals say of the water in this glacial lake that it was “snow five minutes ago.”)
continue investing in second homes, even despite the current real estate market’s high-interest rates. And according to Vacasa’s newest report ranking the best places to invest in a winter residence, your best bet is on Oregon’s Wallowa Lake. With a median sale price of $282,237 and a strong cap rate of 9.9%, this little community outside the small town of Joseph topped Vacasa’s annual ranking for the first time. And Wallowa Lake is not only a state park, it’s a “ribbon lake,” or a deep, finger-shaped glacial lake.
“While Wallowa Lake in Eastern Oregon is one of the more remote vacation destinations on this year’s Best Places to Buy a Winter Vacation Home list, its charm and recreational activities attract travelers from many surrounding markets within a half-day drive, including Portland and Bend, Oregon, and Boise, Idaho,” Daned Kirkahm, senior director of real estate at Vacasa, told Travel + Leisure.”
clearest water in the state (though some would argue that Oregon’s iconic Crater Lake is clearer, one Wallowa Lake tourism site notes locals say “the water was snow five minutes ago”). With snow-capped peaks all around and Salt Creek Summit Sno-Park just a few miles away, it’s no wonder the area is popular with vacationers seeking idyllic vistas and winter adventures.
location for stargazing.
Rachel Rhoden of Cascade Hasson Sotheby’s International Realty points out that Joseph is home to a bustling art community and has a lot to offer, too.
“The town has bronze sculptures throughout, as well as lots of great little eateries, bed-and-breakfasts, shops, and galleries,” Rhoden added.
multimillion-dollar lodge-style homes to small and more affordable cabins. Rhoden points out that most visitors drive into the area, but a small airport nearby, Joseph State Airport, can service private jets.
Read Vacasa’s complete market report on the top destinations to invest in a winter vacation home here.
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