Coastal Escapade in the USA: Finding Affordable Housing Near the Ocean

Today, it is challenging for a new graduate to find a property. The market is overheated, prices are skyrocketing, and the idea of taking out a 30-year mortgage gives me chills. Recently, an idea came to me: compare the price per square meter based on proximity to the ocean to engage in an activity we enjoy, my wife and I.

During our last trip to Aruba, we walked miles on Eagle Beach. These memories left a deep impression on us. Knowing that real estate is out of reach and that house hacking or buying a property to renovate no longer makes sense in a market with high-interest rates and rising living costs, it is clear that the tricks of the older generation no longer apply.

Being curious, I decided to gather data and analyze it all. My approach is to avoid massive debts and go against the grain of today’s consumerist society. Instead of focusing on increasing income, I seek a peaceful lifestyle by reducing expenses, like a true follower of the LeanFIRE Movement.

The big question that bothered me was whether real estate would hinder my escape from the rat race. So, I went hunting for the most promising cities by collecting data on price per square meter and proximity to the coasts.

Analysis Methodology

For this analysis, I examined real estate prices in various American cities and their proximity to the coasts. The data was obtained from the FRED Institute for real estate data, and I classified the cities based on their location along maritime borders.

Dataframe of American Cities

I normalized the data to standardize them within a common range to fairly perform my scoring calculation.

Explanation of the Score

To evaluate the best cities based on different criteria, I assigned specific weights to each factor:

Real Estate Price Appreciation (30%)
Price per Square Meter (30%)
Proximity to the Ocean (40%)

The composite score of each city was calculated as follows:

Score = (weight_appreciation * Appreciation Norm) + (weight_price * Price Norm) + (weight_ocean * Near Ocean)

Here’s how the data is normalized and combined to obtain a final score that reflects the overall attractiveness of each city in terms of cost and proximity to the sea.

Conclusion

By adopting this methodical approach, I hope to identify cities where it is possible to live comfortably and affordably while enjoying the benefits of coastal life.