Buying a boat is a big commitment and deserves a lot of research. But are there any states where you can buy boats for a cheaper price?
Actually, there are and today we’re going to tell you the five cheapest states to buy boats!
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The Five Cheapest States to Buy Boats
The cheapest states to buy a boat are North Dakota, Wisconsin, South Carolina, Minnesota, and Florida. Each state has its own unique marine industries that include recreational and commercial boat services, which means you can find just about any boat you desire in one of these locations.
According to Coast Guard boating statistics, these help support the research of states that have the most boats.
As you will see, these states love their boating activities more than other states and are some of the cheapest places to purchase one due to inventory, community support and boating infrastructure.
A good indicator for finding cheap states to purchase boats is the ones that have registered watercraft per 100,000 people.
To find an accurate representation, you simply look at the total population and the number of boats being registered in the state.
The larger the number for the ratio, the more people are purchasing boats that live there.
When that happens, boat prices tend to go down. Average boat price ranges will vary since more expensive boats might be in densely populated areas along the coast.
Florida
Florida has been crowned the “boating capital of the world” for a good reason.
They have the best ratio of people and registered boats. In fact, there are roughly over a million registered boats in the state, making it the largest in the US.
This is a perfect opportunity to find a boat within your price range and get a good deal on newer ones. Out of the 21 million people in the state, over one million have registered boats so this should bode well in your favor.
The price ranges, according to Boat Trader, typically average around $90,000 in a range between $5,000 and $6,000,000. The used boat market is by far the best reason to buy a boat in Florida…there is just a TON of inventory.
Not to mention some of the biggest boat shows in the world take place in Florida each year, like the Miami International Boat Show and the Fort Lauderdale International Boat Show.
And let’s not forget Florida’s thriving commercial fishing industry, which relies on thousands of commercial boats and support vessels.
Big cities like Miami, Key West, Jupiter, Tampa Bay, Sarasota and Jacksonville are all major boating hubs with countless marinas and boat yards.
But don’t overlook the smaller towns with a strong boating and maritime heritage such as Palatka, Apalachicola, Marco Island and Crystal River.
I promise you won’t have to drive far or long to find a boat in Florida!
Disclaimer: I am born and raised in Florida, and it’s where I purchased my Carolina Skiff JV 17.
North Dakota
North Dakota is a perfect example of looking at math to determine how many people have boats in the state.
It has roughly 775,000 people and about 56,000 boats registered, meaning for every 100,000 people there are roughly 7,500 to 8,000 registered boats.
Now that you can see the example, why does this matter?
The more registered boats mean there is a good supply and demand occurring. Boats are typically cheaper, on average, if everyone has one.
North Dakota has the fifth largest ratio of people and registered boats.
According to sites like Boat Trader, boats on average sell for $38,000 in North Dakota. Registration fees are also cheap, making it affordable to maintain ownership of your boat.
Wisconsin
Wisconsin has nearly 10,500 registered boats per 100,000 people that live there. The average boat value, according to Boat Trader, is around $55,000.
These ranges are between $3,500 and $750,000. In addition, taxes and fees are minimal which is great for those that believed it was worse.
Pewaukee, Oshkosh, and Kaukauna offer some of the best options to find cheap boats in the state.
Wisconsin ranks fourth for the ratio between population and registered boats.
South Carolina
South Carolina has been steadily growing over the years in its marine activity.
They rank third on the list for the ratio between population and registered boats at 100,000 people per 11,200 boats.
Taxes and registration fees are somewhat confusing if you are a first-time boat owner. However, you can still find some of the cheapest boating options on the used market.
Boat values typically range between $4,500 and $965,000 on Boat Trader. Beautiful locations such as Charleston, Lake City, and Seneca make boat buying a dream come true for those that are first-time buyers.
Minnesota
Minnesota almost gave Florida a run for its money, (not really), as it continues to grow in marine activity with boats.
The state lands second on the list of the ratio between people and registered boats, or 100,000 people per 14,500 registered.
Boat values tend to be a little cheaper here due to the large number of people owning boats. The good news is that sales tax is around seven percent, so you do not have to pay too much in that regard.
Red Wing, Wayzata, and Saint Cloud have some of the cheaper options throughout the state.
On average, expect to pay $58,000 or within a range between $8,000 and $605,000 according to Boat Trader.
Frequently Asked Questions
When is the best time to buy a boat?
When you are truly ready is the vague answer. However, fall or winter time seems to be the best opportunity to get any boat at its cheapest.
Summertime and warm weather are for boating, so cold weather is a great time to shop.
Additional locations to buy a boat in a cheap state?
If you happen to be in one of the five states mentioned above, there are places to visit that could offer tremendous discounts.
These include marinas, boat auctions, and boat shows. Do not be afraid to check out boatyards too that have damaged boats sitting, as these could be pennies on the dollar if you know how to work on them.
Best way to buy a boat in a cheap state?
You should purchase a boat to the best of your budget, so thoughtful planning is in order. If you are able to buy in cash, this effectively changes your buying power and you can help drive down the sale price.
However, boat loans and financing could create better alternatives for paying it off later.
Conclusion
Buying a boat is no small decision, and over the past few years, the prices of boats have skyrocketed due to manufacturing constraints and supply bottlenecks.
But, there are still deals to be found for the determined buyer. Don’t forget to check online marketplaces like craigslist, facebook marketplace, and boattrader.com.
However, newspapers, local flyers, and small businesses often have boats for sale that don’t get posted on social media. Sometimes taking a drive can present some hidden opportunities.
Learn more about different types of boats, and their features for prospective buyers:
Bay Boat vs Center Console: Which is Better For You?
Deck Boat vs Pontoon: Pros & Cons Explained
Growing up in Florida, I’ve been surrounded by saltwater my entire life…and I love sharing my passion with others.
To learn more about why I started Saltwater Mecca, visit the ABOUT page.
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