Data reveals Vermont second most vacation homes behind Maine

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Data reveals Vermont second most vacation homes behind Maine

Wed, 07/31/2019 - 3:34am -- tim

Vermont Business Magazine Whether it’s a cabin in the woods or a beachside bungalow, vacation homes come in all shapes, sizes and locations. IPX1031, a Fidelity property exchange company, took a close look at vacation home destinations across the country to find which cities and towns have the most vacation homes. They also analyzed the overall percent of vacation homes in every state. Northern New England came in as the top three states: Maine, Vermont, New Hampshire.

IPX1031 researched vacation home data from more than 29,000 different census designated places across all 50 states and ranked the top three locations with the most vacation homes in every state.

Before analyzing the top three locations with the most vacation homes in every state, let’s look at the overall percentage of vacation homes in each state. When you think of a popular vacation home hot spot, images of sandy beaches in Florida might come to mind. While Florida ranks high in terms of its number of vacation homes, it doesn’t beat out Maine, which is No. 1 in the country. Surprisingly, 19% of all homes in the Pine Tree State are vacation homes. Vermont and New Hampshire round out the top 3 states with 17% and 12%, respectively. Florida comes in at No. 6 with 10% of its homes categorized as vacation homes, according to the Census Bureau.

Apparently, the Midwest isn’t a hot spot for vacation homes. Maybe it’s the brutally cold and long winters, but Midwest states rank low on our list. In fact, Illinois ranks dead last on our list with just 1% of its homes categorized as vacation homes. Other Midwest states like Ohio (1.1%), Iowa (1.6%), Indiana (1.7%) and Kansas (1.4%) are at the bottom of the list as well.

However, there is one Midwest state that ranks within the top 10. With its more than 15,000 lakes, Wisconsin is a haven for fishing, boating and vacationing, which explains why the state ranks No. 8 among states with the most vacation homes.

After we looked at the percentage of vacation homes in every state, we analyzed the top three places with the most vacation homes within those states. While familiar vacation locations such as Copper Mountain in Colorado and Fire Island in New York are among the top vacation home destinations, there are also smaller towns that make the list as well. For example, the top 3 destinations in California all have less than 300 vacation homes. However, every home within those three places are classified as vacation homes. Atlantic City and Boudurant, Wyoming as well as Yellow Pine, Idaho and McCarthy, Alaska are the only other locations on our list where every home is classified as a vacation home.


Methodology

1031 Exchange researched vacation home data from more than 29,000 different census designated places across all 50 states and ranked the top three locations with the most vacation homes in every state. The Census Bureau defines vacation homes as housing units that are “vacant for seasonal, recreational, or occasional use.” To determine the percent of vacation homes in each location, they calculated the percent of all housing units that were classified as “vacant for seasonal, recreational, or occasional use.”

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