OT: Cost of shore rentals - will people continue to pay?

[RUskoolie]

This is an ongoing debate with my extended family. We stopped going to the Jersey shore this year because the price for a 1 week rental is pushing $4000 for a 3 bedroom. You have to pack all your linens, go food shopping, all your soaps, laundry detergent, etc. Then you're at the shore and it's beach, boardwalk, ride bike, mini golf.

I am of the belief the younger generations will A: choose not to go because they cannot afford it, B: choose not to go because value is better elsewhere C: continue to go for the nostalgia.

Curious what some of you think? I didn't grow up a shore kid so IDGAS. We went to the Cayman Islands this year for 5 days (flights, AirBnB and car rental) and it was the same price as staying in Ocean City NJ for a week. I understand if you OWN down there but continuing to rent down there, I really don't understand it and I'm not talking the 20 somethings renting summer homes in Belmar.

 

[tom1944]

Supply and demand

 

[RUBlackout7]

It’s wild to me that people pay those prices when you could go to the Caribbean for the same and be guaranteed good weather.

 

[yessir321]

I hate busy beach towns. It's about the same price when we stay on Hatteras Island in the OBX and FAAAAR less people. Honestly once we did OBX, the desire to go to any of the "Northern Beaches" (OCNJ, Wildwood, Rehobeth, OCMD, etc) went completely away. At 34 years old married with a 3 year old, I can't see myself ever booking a vacation at a busy beach town. At least during peak season

 

[rutgersdave]

My nephew been renting 3 BR in Ocean City in August for about 5-6 years and their second kid reaching 5 years old probably for another 5 years or until they are uninterested. They really like the rides. This year, they are also going to Disney world in October In addition to the shore.

 

[RUskoolie]

It’s wild to me that people pay those prices when you could go to the Caribbean for the same and be guaranteed good weather.

Even more mind blowing...I can buy ocean front property in Cayman for the same price as some of these NJ shore towns. But yeah, we visited a top 10 beach in the world for the same price as staying in an LBI or Ocean City basic home.

 

[WhiteBus]

The decline in rentals at the shore has already begun.

Vacation rental market shift leaves owners in "nerve-wracking" situation as popular areas remain unbooked

Popular summer vacation destinations across the country have witnessed a decrease in occupancy rates, according to AirDNA.

www.google.com

Why Vacancies Are Up for Summer Rentals in Some Classic Beach Destinations

With more availability, can travelers hope to snag last-minute deals?

www.google.com

 

[S_Janowski]

Ocean City is one of the best shore towns in NJ and great for kids but I would never spend a week there from June to through August.

Wayyyy too crowded and expensive.

You’re better off finding a quieter beach town (i.e. Brigantine) for much cheaper and doing a day/night trip into OC.

 

[yessir321]

Even more mind blowing...I can buy ocean front property in Cayman for the same price as some of these NJ shore towns. But yeah, we visited a top 10 beach in the world for the same price as staying in an LBI or Ocean City basic home.

Nicer location, not sure about the healthcare though... There's other things to consider when owning. For vacation though, its a no brainer!

 

[fsg2]

How much was it, say ...5 or 10 years ago?

$4,000 doesn't sound as high as I'd think, but I'm not the one paying.

I feel like "B" nails it, but I felt that way 20 years ago. JS is nice for a day or weekend, but if I'm paying thousands for a week+ vacation, I'm going somewhere new.

 

[knightfan2000]

You'd be hard pressed to find a 3-4 bedroom rental on LBI for less than $6000/week. Homes with 5-6 bedrooms are renting for $8000-14,000 depending on proximity to the ocean/bay. The oceanfront properties with more than 5 bedrooms can rent for $18,000 to $25,000 per week. Finding an available rental for this summer was next to impossible.

 

[JayDogSmooth]

Were doing Marco Island in mid august

Cons - Very Hot, have to fly & rent car

Pros - White sand beaches, warm water, lots to do (wave runners, boat rides, parasailing, etc)

2k for 8 nights for a 2 bedroom fully furnished beachfront condo with a kitchen

Flights for 3 people = $800
Car = $300

Figure dinners, food, activities = $1500 (estimating high)

So that’s $4,500 all in - not cheap, but not crazy expensive

Note, we’d get bored at the jersey shore after 2/3 days, and won’t drive anymore than 3 hours

Briefly considered OCMD, Delaware beaches and Lake George but decided against it

Was also considering Destin but it’s remote and no direct flights

 

[Knightmoves]

Even more mind blowing...I can buy ocean front property in Cayman for the same price as some of these NJ shore towns. But yeah, we visited a top 10 beach in the world for the same price as staying in an LBI or Ocean City basic home.

Not sure I’d make a real estate investment in the Cayman Islands. A golf buddy bought a high end luxury oceanfront villa in St Maarten and it’s been a roller coaster ride ever since.

Id rather deal with Uncle Sam than some local warlord in a banana republic where gringos are not highly regarded by the locals.

 

[newell138]

As someone who grew up and then taking my family on the traditional 1 week vacation in LBI I have to say now that I live in OCNJ looking back I can’t believe what a rip off it is. What other vacation do have to pack your own sheets and towels and TP? But for a large group or large family it makes sense. No airfare and you can fit everyone in the same house. It must be a Jersey thing though because when we rent places down in FLorida they provide all that stuff for you

 

[newell138]

Were doing Marco Island in mid august

Cons - Very Hot, have to fly & rent car

Pros - White sand beaches, warm water, lots to do (wave runners, boat rides, parasailing, etc)

2k for 8 nights for a 2 bedroom fully furnished beachfront condo with a kitchen

Flights for 3 people = $800
Car = $300

Figure dinners, food, activities = $1500 (estimating high)

So that’s $4,500 all in - not cheap, but not crazy expensive

Note, we’d get bored at the jersey shore after 2/3 days, and won’t drive anymore than 3 hours

Briefly considered OCMD, Delaware beaches and Lake George but decided against it

Was also considering Destin but it’s remote and no direct flights

Problem with that is the water is probably 90 degrees. We’re going to Marco Island in February and it’s about 5k for 10 days

 

[JayDogSmooth]

Problem with that is the water is probably 90 degrees. We’re going to Marco Island in February and it’s about 5k for 10 days

Yeah it’s def on the warmer side, bordering on too warm

We also got a place with a nice pool in case our daughter wants to mix it up and do a combo of beach / pool

The issue with having only one child is they get bored easily, so lining up things to do is essential

 

[RuBird]

Ocean City is one of the best shore towns in NJ and great for kids but I would never spend a week there from June to through August.

Wayyyy too crowded and expensive.

You’re better off finding a quieter beach town (i.e. Brigantine) for much cheaper and doing a day/night trip into OC.

We stayed in Brigantine for 5 nights last year. Loved the beach (very quiet). Very good dining options. Close to AC so went went on a rainy day. We drove to Ocean City (NJ) to have a boardwalk night. Overall good trip and not that expensive

 

[MoreCowbellRU]

This is an ongoing debate with my extended family. We stopped going to the Jersey shore this year because the price for a 1 week rental is pushing $4000 for a 3 bedroom. You have to pack all your linens, go food shopping, all your soaps, laundry detergent, etc. Then you're at the shore and it's beach, boardwalk, ride bike, mini golf.

I am of the belief the younger generations will A: choose not to go because they cannot afford it, B: choose not to go because value is better elsewhere C: continue to go for the nostalgia.

Curious what some of you think? I didn't grow up a shore kid so IDGAS. We went to the Cayman Islands this year for 5 days (flights, AirBnB and car rental) and it was the same price as staying in Ocean City NJ for a week. I understand if you OWN down there but continuing to rent down there, I really don't understand it and I'm not talking the 20 somethings renting summer homes in Belmar.

Years ago we shopped shore rentals and were like WTF!?

When we realized we could get airfare, a 3 bedroom condo on the water, food and supplies in Madeira Beach/John's Pass Fla. Cheaper than rental alone @ Jersey Shore, we never looked back. Don't regret it for one second.

Having a place in Clearwater we only do the barrier Island rental when we plan on a bunch of visitors to be together.

We're 10 mins from Clearwater Beach. I'm not much of a beach guy. The wife is the beach bum. I'm more a fishing and diving fan.

 

[knightfan7]

We were actually talking about this on the beach today. You do notice less people around.

Vacation rental market shift leaves owners in "nerve-wracking" situation as popular areas remain unbooked

Popular summer vacation destinations across the country have witnessed a decrease in occupancy rates, according to AirDNA.

www.cbsnews.com

A couple shots of my town.

 

[tom1944]

Yeah it’s def on the warmer side, bordering on too warm

We also got a place with a nice pool in case our daughter wants to mix it up and do a combo of beach / pool

The issue with having only one child is they get bored easily, so lining up things to do is essential

My sister has a house in Avalon and her neighbor rent their house out. They have a small pool and most of the renters never go to the ocean they just stay at the pool.

 

[RU848789]

We've been renting in OCNJ for 1-2 weeks just about every year for 25+ years (since our son was very young). Until our son was 18, we'd usually rent for 1-2 weeks at the end of August in a typical 4-bedroom place (always 2nd floor - hate having loud people above us), usually a couple of blocks from the beach. End of August and a couple of blocks in was more affordable, i.e., $2500-$3500 per week in the 90s/2000s (those places are now $5-7K/week that time of year). Our son just loved OCNJ and we did too (I used to go there all the time as a kid, as my dad lived there with his 2nd wife from when I was 11 to 17, when that marriage failed, lol), plus my sister and my mom (or dad) would often join us for part of the time. The boardwalk is great, including lots of great boardwalk food, the restaurants are pretty good (and some great nearby ones in AC/Margate/Cape May), and the shopping is good, plus the casinos are close.

Once our son was in college, we started shifting towards the first 2 weeks in September, as it's even cheaper then and less crowded (but not empty, with everything still open), with the warmest water of the season (but not as hot, air-temp-wise) - and our son would at least join us for 3-4 day weekends and my sister and sometimes friends join us, especially if we do 2 weeks. And for the price differential vs. July through mid-August, 2 weeks is way more doable, even at some high end rentals right on the beach. We've gotten a bit spoiled the past 5-7 years, always getting places with an ocean view, in the $4-6K per week range (these places are typically more than twice that price per week in high season). I don't really care about the linens thing (my wife does that work, lol) and the hassle level of renting in NJ is way less than traveling anywhere one has to fly to. We also do vacations twice a year, now, in FL (my dad lives in Vero and can't travel much any more) - I'd much rather be going elsewhere, destination-wise, but family is family. Hoping to get back to Europe this fall.

 

[50 yd line RR]

This is an ongoing debate with my extended family. We stopped going to the Jersey shore this year because the price for a 1 week rental is pushing $4000 for a 3 bedroom. You have to pack all your linens, go food shopping, all your soaps, laundry detergent, etc. Then you're at the shore and it's beach, boardwalk, ride bike, mini golf.

I am of the belief the younger generations will A: choose not to go because they cannot afford it, B: choose not to go because value is better elsewhere C: continue to go for the nostalgia.

Curious what some of you think? I didn't grow up a shore kid so IDGAS. We went to the Cayman Islands this year for 5 days (flights, AirBnB and car rental) and it was the same price as staying in Ocean City NJ for a week. I understand if you OWN down there but continuing to rent down there, I really don't understand it and I'm not talking the 20 somethings renting summer homes in Belmar.I

The biggest problem with renting at the Jersey shore is more and more people have retired down there so rentals are harder and harder to find.I think the price reflects that supply and demand

 

[RU4Real]

The term "local summer" exists for a reason.

And yeah, I agree with the people who've said 'no way' to Jersey Shore vacations, especially during the summer. Bahamas, BVI, Anguilla... lots of better places.

 

[Source]

Once Rutgers entered the B1G, I had an idea that summer hotels at the Jersey shore should take out ads at any of the schools out west that would play Rutgers in September and perhaps half of October.

If you're from Nebraska or Michigan or Indiana, it might be a cool mini-trip to get to a shore town on a Thursday or Friday, go to Piscataway on Saturday and return to the ocean Saturday night and Sunday (or perhaps a day or two longer) and enjoy the ocean and sun (IF you luck out with the weather).

I could see fans of a school cutting a deal with an entire hotel, take it over, party in Belmar, or Point Pleasant or wherever.

Hard to do that kind of trip unless you are going to Rutgers or Maryland. However, soon you'll be able to add the west coast teams and do the same thing.

 

[Leonard23]

This is an ongoing debate with my extended family. We stopped going to the Jersey shore this year because the price for a 1 week rental is pushing $4000 for a 3 bedroom. You have to pack all your linens, go food shopping, all your soaps, laundry detergent, etc. Then you're at the shore and it's beach, boardwalk, ride bike, mini golf.

I am of the belief the younger generations will A: choose not to go because they cannot afford it, B: choose not to go because value is better elsewhere C: continue to go for the nostalgia.

Curious what some of you think? I didn't grow up a shore kid so IDGAS. We went to the Cayman Islands this year for 5 days (flights, AirBnB and car rental) and it was the same price as staying in Ocean City NJ for a week. I understand if you OWN down there but continuing to rent down there, I really don't understand it and I'm not talking the 20 somethings renting summer homes in Belmar.

Yeah, I'd much rather spend that to go to Aruba or other tropical places. Never understood the allure to spend that to rent a house down the shore.

 

[angmo]

I just moved back after 20 years overseas. I'm renting a year round in a beach town with one of the better school systems. Was tough finding anything year round, since everybody wants to maximize the summer months. It's not cheap, but compared to where I used to live it is.

I like the beach in the off season. It's fun during the summer as my sister has a house nearby, my mom lives a couple blocks away and my very large family comes down way more often in the summer.

I lived pretty much the same distance from the beach in my former country. Same beach, different ocean...Much cleaner here though.

I don't know what a weekly rental is anymore as the last time I rented a beach house was 22 years ago. Maybe will buy next year if prices come down, because rentals aren't sustaining the rental prices now.

 

[RUhasarrived]

The last time it was cheap was in the late 70's,early 80's,when you could an rent 8 bedroom house in Bradley Beach for the entire summer for less than 5 grand.

 

[RUskoolie]

You'd be hard pressed to find a 3-4 bedroom rental on LBI for less than $6000/week. Homes with 5-6 bedrooms are renting for $8000-14,000 depending on proximity to the ocean/bay. The oceanfront properties with more than 5 bedrooms can rent for $18,000 to $25,000 per week. Finding an available rental for this summer was next to impossible.

Those people are suckers to me. Help me understand the value in that. $10,000 I can go to Hawaii. Last time I checked that's a nicer place than LBI. Hell I can go to any beach on earth for those prices.

 

[angmo]

What I have noticed is the massive amount of new construction on the island from Pt. Pleasant to Seaside. There are probably 100 new houses built in the last few years. As someone said, "supply and demand".

 

[RUskoolie]

Not sure I’d make a real estate investment in the Cayman Islands. A golf buddy bought a high end luxury oceanfront villa in St Maarten and it’s been a roller coaster ride ever since.

Id rather deal with Uncle Sam than some local warlord in a banana republic where gringos are not highly regarded by the locals.

Lord is this an ignorant post. You think Cayman is a banana republic with war lords? It's the wealthiest island in the Caribbean with a bunch of HNW investment bankers, lawyers and entrepreneurs walking around.

 

[ClassOf02]

Those people are suckers to me. Help me understand the value in that. $10,000 I can go to Hawaii. Last time I checked that's a nicer place than LBI. Hell I can go to any beach on earth for those prices.

I tend to agree with you. But….many of those 5-6 bedroom LBI homes can comfortably accommodate 2 families with kids, maybe 3 if you push it. So the $10k is likely often split among a couple families.

But still, you’re right. I’ll always go someplace else for that kind of money.

 

[RUskoolie]

The biggest problem with renting at the Jersey shore is more and more people have retired down there so rentals are harder and harder to find.I think the price reflects that supply and demand

I am only using OCNJ as an example but no one is in the town Sep-May. I can see that for other beach towns I suppose but even the price to BUY these places makes absolute zero sense unless you're retiring there like you said and you DGAS about ROI.

 

[jtung230]

I just finished my 2 wk rental. Traffic is down but that just means it’s back to the pre pandemic levels. I rent in Lavallette and prices are not coming down.

 

[jtung230]

Those people are suckers to me. Help me understand the value in that. $10,000 I can go to Hawaii. Last time I checked that's a nicer place than LBI. Hell I can go to any beach on earth for those prices.

I did the math and it’s well worth the money for a beach house rental. Plus, I don’t have to fly with the kids.

 

[BLewis1968]

Yeah, I'd much rather spend that to go to Aruba or other tropical places. Never understood the allure to spend that to rent a house down the shore.

We thoroughly enjoyed Aruba. A friend of mine has been four or five times, and I scouted wedding locations for him while on vacation (they opted for the Ritz). The beaches are light years beyond what I could get driving here & paying extortionate prices. (Now, if I had four kids and a family of a half-dozen to pay for, I'm sure my perspective on flying to Aruba, Montego Bay, Virgin Islands etc might change).

 

[rutgersal]

Years ago we shopped shore rentals and were like WTF!?

When we realized we could get airfare, a 3 bedroom condo on the water, food and supplies in Madeira Beach/John's Pass Fla. Cheaper than rental alone @ Jersey Shore, we never looked back. Don't regret it for one second.

Having a place in Clearwater we only do the barrier Island rental when we plan on a bunch of visitors to be together.

We're 10 mins from Clearwater Beach. I'm not much of a beach guy. The wife is the beach bum. I'm more a fishing and diving fan.

This is a great place, as is Sarasota. Rented a boat at John’s Pass and took it down to Shell Key.

 

[newell138]

The biggest problem with renting at the Jersey shore is more and more people have retired down there so rentals are harder and harder to find.I think the price reflects that supply and demand

That is correct as well as more people just choosing not to rent them and use them for their own use

 

[newell138]

Those people are suckers to me. Help me understand the value in that. $10,000 I can go to Hawaii. Last time I checked that's a nicer place than LBI. Hell I can go to any beach on earth for those prices.

The value is that in a house with 5-6 bedrooms you may also be vacationing with extended family or multiple families. Your not going to Hawaii with 8-10 people for $10K

 

[phs73rc77gsm83]

We rent the same ocean front, 5 bedroom house in LBI every year. We splurge—it’s roughly $25k per week—but we invite 3 or 4 families and have a great time. I commuted to NYC for 35 years and am retired so we don’t mind splurging for this or other vacations. I’d like to move there but my wife doesn’t want to and I don’t want own two properties.

 

[hankee18]

I did the math and it’s well worth the money for a beach house rental. Plus, I don’t have to fly with the kids.

This is what everybody's missing. Traveling with young kids is a major PITA. There is always going to be a fresh crop of young couples/families with kids that splitting a house for the week at the Jersey shore makes total sense. Plenty to do and it still feels far enough away from home

I never understood people spending 10k on Disney for the week when their 2 and 3 year old kids will never ever remember the experience