Billionaires Flock to Lake Tahoe’s Nevada Shore | WSJ Homes for May 29

May 30, 2026 - 01:10

The Nevada shore of Lake Tahoe is seeing a surge of interest from the ultra-wealthy, who are drawn to its combination of natural beauty and favorable tax policies. Unlike California's side of the lake, Nevada offers no state income tax, which is a major draw for high-net-worth individuals looking to relocate or purchase a second home. Real estate agents report that demand for lakefront properties and luxury estates has pushed prices to new heights, with some homes selling for tens of millions of dollars.

The shift has transformed the local market. Buyers are not just looking for a vacation cabin anymore. They want turnkey properties with modern amenities, private docks, and expansive views. Some are building custom homes designed by top architects, blending rustic mountain aesthetics with contemporary luxury. The influx has also spurred development of high-end services, from private chefs to concierge ski rentals.

Meanwhile, a separate trend is emerging among beach-home owners across the country. Instead of light and airy interiors, many are choosing darker, moodier color schemes. Deep blues, charcoal grays, and forest greens are replacing the traditional whites and pastels. Designers say this shift reflects a desire for coziness and drama, turning beach houses into year-round retreats rather than just summer escapes.

In Maine, the town of Kennebunkport now holds the state's most expensive ZIP Code. With a median home price well above the national average, the area is attracting buyers who value privacy and coastal charm. The combination of rocky shorelines, historic estates, and limited inventory has made it a prime destination for those seeking a quiet but prestigious second home.