For those who love skiing and snowboarding, there’s nothing quite as magical as a winter getaway with tons of fresh powder and scenic runs.
But that’s just part of the equation when it comes to a memorable ski trip. After a day on the slopes, curling up next to a crackling fireplace or sinking into a private hot tub has the potential to take an alpine escape from good to great — which makes vacation rentals ideal for travelers.
That’s why ski properties can be great investments for buyers interested in capturing that demand. Plus, many destinations have become popular in summer, too — with ziplines, alpine coasters, and mountain biking trails to explore. As a result, owners see more opportunity to boost bookings and maximize revenue even after the snow melts when they’ve chosen their location wisely.
So if you’re interested in investing in one of the best places to buy ski property, you want to look for that balance — classic ski town charm with the chance to get multi-season returns on your investment. And that’s what this list offers: from quaint New England communities to adventure basecamps in the Rocky Mountains, these ski-forward towns are bidding for investor attention in 2023.
How We Chose the Best Places to Buy a Ski Property
The data below is based on a combination of proprietary and public data, but the three main metrics we took into account are:
- Vacation rental performance metrics for ski towns across the U.S. to learn where bookings lead to higher median revenue
- Zillow’s 2022 median home value to identify listing prices in ski town destinations
- Estimated yearly expenses to run a vacation rental (approximately 30% of total revenue) to help calculate cap rate
We also evaluated a ski property’s potential to outperform market expectations with an Evolve partnership. Below, you’ll see The Evolve Difference, showcasing how we helped some of our top owners maximize income and significantly beat the market’s projected revenue.
Please note: all data projections reflect ideal-state scenarios. Variables like owner-blocked calendars and extenuating circumstances (like natural disasters) are not factored into these calculations.
1. Boyne City, MI
Midwesterners looking for an escape close to home find wintertime bliss in Boyne City. The area’s Boyne Mountain Resort offers snow sports galore, including 60 downhill runs, groomed cross-country lanes, tubing, ice skating, and fat-biking.
But the fun doesn’t stop with the ski lifts. Boyne City is located on Charlevoix Lake, making it a popular spot for summer vacationers and a profitable region for investors looking to cash in on dual-seasonality.
Top-performing homes in this area are spacious, with three to six bedrooms that sleep anywhere from 10 to 20 people to host big families or groups of powder-loving friends. They range from cozy remote cabins to luxurious homes, and those within 15 minutes of Boyne Mountain — especially if they’re an easy walk to the lifts — rake in the biggest profits.
Our Real Estate Services (RES) team says heated pools and hot tubs grab travelers’ attention year-round, but are particularly appreciated when the temps drop. And while the average owner brings home about $45,000 a year in Boyne City, the top Evolve earners net around $70,000 in the same time period when they make these value-adds available.
2. Snowshoe, WV
With a name like Snowshoe, it’s no surprise this West Virginia destination truly feels like a winter wonderland. Snowshoe Mountain Resort is the largest winter resort in the Mid-Atlantic (yet somehow never feels too crowded), and offers a nice mix of terrain. That’s a draw for multi-generational groups with varying skiing abilities, but it’s worth noting that experts can find the steepest and most challenging slopes in this part of the country, too.
Median list prices in Snowshoe are $154,000 — the lowest on our list — which makes it one of the best places to buy a ski property for first-time investors. Meanwhile, profit margins are quite high: vacation rentals here carry a 10.1% cap rate, which is the ratio between a property’s net income and its market value, and a great indicator of return on investment.
Even more good news: Our RES team says top-performing ski homes are one- to three-bedrooms, and often condos, so investors don’t have to go big to bring revenue home. The highest earners are slopeside ski-in/ski-out properties, or within walking distance of Snowshoe Village.
Resort-style amenities can also move the needle on your listing’s value. So if you’re in a condo community, you’ll want to market the community pool, hot tub, and fire pit. If you’re not, it’s worth looking at homes with key amenities like a fireplace and covered parking during your search.
3. Windham, NY
Windham offers an A-plus alpine escape just two hours outside of the New York City metro area. The area’s star attraction, Windham Mountain, has 54 runs spread across two peaks. And after a day on the slopes, skiers can enjoy a dynamic restaurant scene, breweries, and wineries.
Nicknamed “the gem of the Catskills,” Windham also earned a spot on our list of best places to buy a vacation rental in 2023, thanks in part to its charming Main Street shops and art galleries that bring a steady stream of travelers in warmer weather, too. Plus, Windham is a steal for New York investors when compared to the million dollar real estate in the Hamptons and Hudson Valley.
While the median list price in the area hovers around $290,000, the ski properties that outperform their competition are spacious four- to five-bedrooms located close to the resort — which tends to come with higher price tags. That said, the extra space and ideal proximity can pay off with guests, helping buyers earn more revenue if they can afford the bigger upfront investment.
The most successful ski homes here also feature hot tubs to round out the après experience, so investors should look for options with this luxe touch no matter the property size.
4. Shenandoah Valley, VA
Virginia is for lovers, as the saying goes — and its Shenandoah Valley is for nature lovers. The region is cradled by the Blue Ridge and Allegheny Mountains and bursts with outdoor adventure.
In the winter, travelers flock to Massanutten Resort, a family-friendly ski area with a popular ski school, snow tubing, and an ice skating rink. But even as the weather warms, outdoor enthusiasts can enjoy hiking a section of the famed Appalachian Trail, along with waterfalls and fields of wildflowers in Shenandoah National Park.
With year-round fun, Shenandoah Valley investors have unique potential to keep vacation rentals booked through every season. Our RES team says it’s best to shop for properties in McGaheysville, Massanutten, and Elkton when exploring the best places to buy ski property in the area. And given its kid-friendly draw, homes that cater to families are often best in class. So check out five- to six-bedroom properties — potentially with features like game rooms and hot tubs — to provide travelers with a must-book escape.
5. Carrabassett Valley, ME
Sugarloaf Mountain is the crown jewel of Carrabassett Valley, a charming New England newcomer to our best places to buy ski property list. The resort boasts the only lift-serviced, above-treeline terrain accessible in the East, and attracts mountain bikers and golfers once ski season draws to a close.
Between winter and summer rushes at Sugarloaf, the Carrabassett Valley continues to impress with show-stopping fall foliage. That multi-season beauty and variety of outdoor activities mean investors can see consistency on their booking calendars and strong rental income potential.
That said, quaint New England towns can sometimes offer less available inventory to investors. If you find yourself limited in Carrabassett Valley, our RES team recommends broadening your search to Kingsfield. Considered a gateway to Sugarloaf, this nearby town offers guests the same access to the area’s top experiences — and can deliver similar investment returns.
6. Killington, VT
When it comes to East Coast skiing, Killington has built a solid reputation. With nearly 2,000 skiable acres, the resort touts having the “longest season in the east” and has been known to stay open for powderhounds half the year. This can translate to increased revenue opportunity as investors can cater to ski crowds well into the spring.
Vacationers have options beyond the namesake mountain, too. Forty minutes away, Okemo is an Epic Pass resort that receives 200 inches of snow each year and draws families with a snow tubing park, ice skating rink, and alpine coaster.
Convenience reigns supreme for guests booking in Killington, as our RES team says top-performing two- to four-bedroom homes are close to the mountain peaks and have luxe amenities like a sauna or in-unit spa available to help guests unwind. In fact, the right mix of guest-approved wishlist items earn some Evolve owners nearly $20,000 more in annual revenue than the area’s median.
7. Alma, CO
Colorado skiing is the real deal, and Alma sits in close proximity to some of the state’s top resorts like Breckenridge, Arapahoe Basin, and Copper Mountain. That means investors are well-positioned to snag bookings from both Ikon and Epic pass holders intent on skiing the Rockies — but who hope to trade the premium rates you’ll find when plopped right in a big name resort area for a more affordable (and secluded) getaway.
Alma commands attention as one of the best places to buy ski property thanks to strong inventory and competitive Colorado pricing. Median listing prices here are around $557,000, which is far more affordable than the million-dollar price tags you’d come across in ski towns like Aspen and Vail.
Our RES team also points out that Alma proper doesn’t have any permitting requirements — and it has more regulation freedom in general when compared to other Colorado communities. However, ski properties often sit in Park County, which does require a standard permit, license, and septic system inspection before you can confirm bookings. This process can take anywhere from three to six months, so it’s important for buyers to set their timeline and expectations accordingly.
The homes with the best profit potential in this area are cabins with stunning mountain views that come with amenities like hot tubs, game rooms, and decks. They’re also within 15 to 20 miles of Breckenridge, and market outdoor adventures like hiking and whitewater rafting that guests can conquer in the off-season.
Interested in the idea of a cabin investment? Check out all the best places to scoop up property to see how they stack up.
8. Taos, NM
Taos delivers mountain town magic and Southwestern charm in one snowy package. Historic adobe homes, art galleries, and a walled plaza form its downtown area, while stunning natural landscapes and Taos Ski Valley sit on its perimeter. Investors interested in this hotspot have their pick of unique ski properties in a truly one-of-a-kind environment.
The valley gets lots of sunshine and fresh powder every year, a winning combination for bluebird days that winter sport enthusiasts love. Taos is also a five-hour drive from Denver and it’s on the Ikon pass, making it a great stop for road-tripping Colorado skiers who want to sample neighboring slopes in Northern New Mexico.
Vacation rentals that perform well in Taos come in a variety of sizes — anywhere from studios to three-bedroom properties. So buyers could even purchase a tiny house rental and still earn the attention of the area’s eager traveler base.
Regardless of property size, though, our RES team recommends searching for a property downtown. This historic district holds special appeal for Taos travelers in every season, so it helps owners grab year-round demand. Plus, it’s still within about 20 miles of Taos Ski Valley — which makes it easy for skiers to get the best of both worlds.
9. Idaho Springs, CO
A historic mountain town with hot springs and a main strip packed with restaurants and breweries, Idaho Springs sits just 30 miles west of Denver and is a convenient 30- to 60-minute commute to several ski areas — including Loveland, Echo Mountain Ski Resort, Arapahoe Basin, Copper, and Winter Park.
Much like Alma, investors in Idaho Springs can grab the attention of travelers who want to enjoy the slopes without the high daily rates and tourist congestion that tend to come with being in the center of a major ski town. And with a variety of activities available during warmer weather, an Idaho Springs investment can broaden your booking potential year-round.
Our RES team says the homes that do best here are typically one- to three-bedroom cabins and cottages with rustic flair. They also have spiffed-up outdoor spaces, with mountain-home amenities like fire pits and easy hiking trail access to help capture those summer crowds. Providing trail maps (and snowshoes for winter exploration) are other low-cost ways to score five-star ratings with guests, too.
Like most Colorado mountain communities, short-term rental restrictions and permitting requirements are at play here. So it’s a good idea to partner with real estate experts that can help make sure you’re meeting the area’s criteria before diving into a ski property purchase.
10. Ruidoso, NM
Ruidoso shines in winter months with downhill fun at Ski Apache resort, family-friendly tubing runs at Winter Park Recreational Area, and majestic horse-drawn sleigh rides through a snowy canyon.
But that fun continues once the ground thaws, with so much to do year-round. This southern New Mexico destination teems with Wild West history, and is close to some of the region’s coolest attractions (like White Sands National Monument).
Ruidoso’s four-seasons appeal typically means steady bookings and strong annual profits for investors — which is why it’s not just one of the best places to buy ski property, but also a great place for vacation rental in general.
Since those coming to this area want to soak up all the natural beauty no matter the temperature, our RES team says Ruidoso investors should look for properties that showcase breathtaking views of the Sierra Blanca mountains and have amenities like wraparound decks or hot tubs set among the trees.
11. Ogden, UT
There’s plenty of snow to go around in Ogden, which gets 450 inches each winter. Skiers and snowboarders come to this pocket of Utah because they have their pick of three nearby resorts — Snowbasin, Powder Mountain, and Nordic Valley — all of which get blanketed with the state’s trademarked “Greatest Snow on Earth.” (The powder here has a floatability factor that sets it apart!)
Home prices in this high-altitude hideout are under the $400,000 mark and have a 3.5% cap rate, making Ogden an affordable alternative to pricier West Coast ski towns like Park City. And from cute homes in the historic downtown to modern farmhouses and more secluded riverside cabins, top-performing properties come in all shapes and sizes.
But something these properties do have in common is close proximity to the ski resorts, along with mountain views to take in from decks or patios. Our RES team says investors should also look for features like easy access to hiking and biking trails, which can help generate bookings that aren’t tied to a single tourism season.
12. Big Bear Lake, CA
Investors in Big Bear Lake get a profitable two-for-one: Tourists come for SoCal ski vacations at Big Bear Mountain Resort in the winter, and lake vacations in the summer. Even in the shoulder seasons, travelers can enjoy stand-out stargazing in the dark skies above Big Bear, or hike in the San Bernardino National Forest.
Median list prices are around $643,000, and our RES team says homes closer to the mountain often come at a more affordable price point than their lakefront counterpoints. That means investors can offer added convenience to skiers without breaking the bank, and still offer much-loved lake proximity to summer travelers. Look for properties with three to four bedrooms, as they often perform best in the area.
To help set the scene for ski trips, cozy amenities like hot tubs, furnished decks with wooded views, and fireplaces can all be major revenue generators. Add even more year-round value by leaving trail maps and telescopes for outdoors-loving guests who will be all too eager to leave five-star reviews after feeling taken care of in your home.
Looking to get your feet wet with a lake house investment? Explore the best places to buy this year to zero in on your ideal market.
Buy the Perfect Ski Property with Evolve
Investing in a vacation rental is a personal decision, but you don’t have to navigate your options alone. Our Real Estate Services team can help you take the next step toward making a purchase in one of these best places to buy ski property.
We have the data to contextualize your investment opportunities and define your income goals, preferred local real estate agents who specialize in vacation rental purchases, and an array of management tools to help make your ski property a success once you’re ready to jumpstart your business.
For additional research, here are some resources to help you better understand the potential of vacation rental investment:
- Important Benefits of Investing in Vacation Rentals that all homebuyers should know
- Vacation Rental Market Analyses to see key data on top markets across the U.S.
- Vacation Rental Income Calculator to compare expected earnings and expenses
Now that you’re ready to talk about buying the best winter vacation rental for you, let’s get the conversation started today.