Best places to buy an affordable vacation home

The housing bubble popped painfully in many popular second-home areas - including these. Median values fell 10% to 20% in the past year alone and are expected to bottom in the next 12 months.

4 of 4
BACKNEXT
Montague, Mich.
Median home: $104,000

What it's like: Popular with Chicagoans for its beauty and affordable prices, Montague abuts White Lake, which connects to Lake Michigan and its broad, sandy beaches.

Check out: Lakefront property - prices there have fallen the most and are expected to rebound first.

More galleries
Last updated April 17 2009: 9:04 AM ET
Best credit cards Here are some picks that offer great perks to suit your spending habits. More
Best frequent-travel dealsThese airlines and hotels are dropping the number of points for certain awards. More
Best fixes to sell your house Before you list your place, you'd better make sure it's the best one in its price range. More
Special Offer
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.