When you think of vacation homes, you may think of sandy beaches or tropical timeshares.
But a new study (https://www.ipx1031.com/vacation-home-growth/) revealed the fastest-growing vacation home markets are in surprising parts of the United States.
From the mountains of Montana to the banks of the Mississippi, Digital Third Coast analyzed vacation home data in all 50 states and identified which states have seen the greatest, and least, growth in the number of vacation properties since 2009.
According to the analysis, South Dakota experienced the sixth slowest growth in the nation, with a 17 percent increase in the number of vacation homes over the past decade.
We researched vacation home data across all 50 states and calculated each state’s overall growth from 2009 to 2017, which is the most recent data available from the Census Bureau. The Census Bureau defines vacation homes as housing units that are “vacant for seasonal, recreational, or occasional use.” Once we gathered the total number of vacation home units in each state we compared 2009 versus 2017 to get an overall growth percentage.
Surprisingly, where the vacation home market has grown the most is not Florida or California, but Montana tops the list at No. 1 with 63 percent growth. This is followed by Mississippi (58 percent), Idaho (56 percent), Nevada (51 percent) and Alaska (48 percent). Perhaps vacationers are attracted to Montana’s picturesque Glacier National Park, Mississippi’s Gulf Coast, Idaho’s Shoshone Falls Park or Alaska’s Denali National Park.
New Mexico (43 percent), Oregon (43 percent), Missouri (43 percent), Arkansas (42 percent) and Kansas (41 percent) round out the top 10 states with the most vacation home growth.
Nationwide, the number of vacation homes has increased by 29 percent since 2009. It should be interesting to see if that growth continues in the coming years and how this ranking holds up. Will states at the bottom of the heap like Wyoming (5 percent), Ohio (11 percent) and Oklahoma (11 percent) climb toward the top? One thing is for certain though – vacationing will never go out of style.