Northern Coast, OR

Experiencing a vacation rental renaissance just two hours from Portland, Manzanita and Rockaway Beach offer mid-range home prices, booming demand, and increasing annual rental revenue.


A stone’s throw south of Oregon’s iconic Cannon Beach, Rockaway Beach and Manzanita are two classic Northern Oregon Coast beach towns that are undergoing a vacation rental renaissance. Both Rockaway and Manzanita offer guests affordable lodging along miles of spectacular Pacific coastline, all within a two-hour drive from Portland and fifteen minutes north of Tillamook's dining, shopping, and famous cheese factory. With so many nearby Oregon beach towns, Rockaway and Manzanita serve as a great home base for exploring everything the northern Oregon Coast has to offer. Manzanita is closer to Cannon Beach and has pricier real estate, while Rockaway commands similar rental rates and is becoming an increasingly popular vacation rental destination.

Insider tip

As with all coastal destinations, rental rates in Manzanita and Rockaway Beach increase with proximity to the beach, ocean views, and amenities such as hot tubs. Similarly, vacation rental homes that are east of the Pacific Coast Highway command significantly lower rental revenue. Consider a multifamily (duplex, triplex, etc.) oceanfront or oceanview home in this region, if you can find one. The ROI tends to be higher for multifamily homes, as they're desirable rentals but less desirable trophy homes.

Learn more and compare Oregon's Northern Coast with other top markets in our insider's guide to the best places to buy a vacation rental.

Market size

500+ rental units

Median annual rental revenue


Median home price


Cap rate


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*This document is for information and illustrative purposes only. It is not intended to provide “investment advice” or a “recommendation” regarding a course of action. The discussion is general in nature and has not taken into account your personal financial position or objectives. You should consult a licensed financial advisor or other professional to discuss your specific situation.

Estimated rental income figures and home sale prices are based on historical averages; for any specific property, the actual revenue, purchase price, and cap rate may differ materially from estimated amounts and depend on a wide range of factors outside Vacasa's knowledge or control, such as the property's condition, layout, and furnishings; expenses associated with the acquisition and ownership of the property (such as property taxes, utility fees, HOA fees, insurance fees, and mortgage-related expenses); rental calendar availability; existing and future regulations; current and future economic, social, and political trends and conditions; and weather and environmental factors. These estimates do not take into account the potential impact of state income taxes.

Vacasa makes no representations or warranties, express or implied, about the accuracy of this document. Furthermore, Vacasa has no obligation to update, modify or amend this document or to otherwise notify users in the event that any opinion, assumption, forecast or estimate set forth herein changes or subsequently becomes inaccurate. Therefore, you should not place undue reliance on statements in this document.