Inside the Mountain Town Escape With America’s ‘Best Lake’ Where Homes Are Still Affordable

California’s most famous lake towns often come with million-dollar price tags and an exclusive air that makes them feel out of reach for most buyers.

But affordability is still within reach—for now—at Big Bear Lake, America's "Best Lake," according to USA Today's most recent Readers' Choice Awards.

“Big Bear Lake is unique because it still has authenticity that some lake towns have lost,” Jessica Vance, a California real estate agent and investor, tells Realtor.com®.

Vance knows the area well. She explains how the balance of beauty and relative affordability is part of why Big Bear has retained its authenticity.

"It’s charming. It feels like a neighborhood, and it still has a beginning price point that’s affordable compared to so many other California destinations," she says.

The August median list price for homes in Big Bear Lake is $619,999, according to Realtor.com data. That's significantly less compared to popular Lake Tahoe, which has a median list price of $749,000.

Around Tahoe and even nearby Lake Arrowhead, the market has been steadily taken over by luxury homes that leave little room for anyone outside the ultrawealthy. However, just a couple of hours east of Los Angeles, Big Bear Lake has quietly held on to something different.

“A lot of the homes here are second homes that have been in families for generations,” says Vance. “Others are vacation rentals that owners also use themselves. It’s still a place where an everyday buyer can imagine having a getaway, not just the ultrawealthy.”

Big Bear beauty

Set high in the San Bernardino Mountains and surrounded by a national forest, this 7-mile-long lake community blends four-season recreation with a housing market that hasn’t been completely transformed by big spenders.

Unlike other lakefront markets, Big Bear’s growth has natural limits because the town is encircled by the San Bernardino National Forest. Thus, large-scale development simply isn’t possible since it's federal land. That geographic barrier has kept the area smaller, more serene, and harder to overwhelm with sprawling resorts or high-rise projects.

The town has also leaned on regulations to preserve its sense of place, says Vance. Short-term rentals, while a part of the local economy, are kept in check by strict rules that prevent them from dominating entire neighborhoods. For buyers, that means they can find homes in areas that still feel residential and lived-in—not like streets of rotating vacationers.

"Big Bear is a less luxury-oriented market compared to Lake Arrowhead and Lake Tahoe," says Jiayi Xu, economist at Realtor.com. "In order to afford a typical home in Big Bear under the 30% rule of income, a gross household income of $130,720 is required. Meanwhile, the required income to afford a typical home in Arrowhead is $147,360 and $157,920 in Lake Tahoe."

4-season lifestyle at a reasonable price

Big Bear’s appeal goes beyond the price point. At more than 6,700 feet of elevation, it offers a true four-season lifestyle: skiing and snowboarding at Snow Summit and Bear Mountain in the winter, boating and hiking in the summer, and 300 days of sunshine in between. That mix makes it especially attractive to buyers who want a property that doubles as both an investment and a lifestyle purchase.

“Families love it here because there’s something for everyone,” Vance says. “It’s a great place for kids to learn to ski or snowboard, and in the summer, you’ve got the lake for swimming and boating. Couples and individuals also come up just for the peace and nature.”

On weekends, visitors fill Pine Knot Avenue, the walkable heart of town, stopping for fudge, barbecue, or souvenirs before heading back to the water or the slopes. Yet even at peak times, Big Bear doesn’t carry the same exclusivity or overcrowding that can define other California resort towns.

"The median square footage of homes listed in Big Bear in August was 1,448 square feet, which is smaller than Lake Arrowhead's 1,967 square feet and Lake Tahoe's 1,538 square feet. It suggests that Big Bear is characterized by more modest, cabin-style homes rather than expensive, high-end properties," says Xu.

For people who have invested in real estate in Big Bear, there are returns. Median home prices have consistently risen. In June 2016, the median list price was $487,450. In June 2020, it was $573,650, and now, $619,999.

While California’s most recognizable lakefronts often cater to only the wealthiest buyers, Big Bear Lake remains an outlier.

“Big Bear is a town for many,” Vance says. “That’s what makes it special. Whether you’re here with your family, as a couple, or just to get some peace and quiet—it still feels like a place that belongs to everyone.”