The states with the biggest share of vacation rentals aren’t where you’d think

The states with the biggest share of vacation rentals aren’t where you’d think

The Northeastern U.S. has a higher percentage of vacation rentals than the South

July 20, 2019 01:00PM
Portland, Maine (Credit: iStock)

Portland, Maine (Credit: iStock)

Year-round sunshine didn’t help Florida make it to the top of this vacation rental ranking.

The states with the highest percentage of vacation homes are clustered in the Northeast, Bloomberg reported, citing a new study from investment property exchange firm IPX1031.

Maine topped the ranking, with 19.3 percent of its homes being used as vacation rentals. Vermont came in second, at 17.4 percent, followed by New Hampshire, at 11.8 percent, and Alaska clocked in at No. 4 with 10.5 percent. Florida came in sixth place, at 9.7 percent.

Few of them are in the Midwest. The study found that states with the five smallest percentages of vacation homes are Indiana (1.7 percent), Iowa (1.6 percent), Kansas (1.4 percent), Ohio (1.1 percent) and Illinois (1 percent).

The report used data from the Census Bureau, which defines vacation homes as residences “vacant for seasonal, recreational or occasional use.” The United States has 5.7 million vacation homes. [Bloomberg] – Mike Seemuth

Poll: one in five Americans can’t pay rent

(CafeCredit.com/Flickr)
From TRD New York: Rising rents and the growing number of people renting in the U.S. is resulting in one in five tenants struggling to pay their rent, an Apartment List poll of about 40,000 respondents found.
The poll was skewed towards higher-income users of the website who were renting high-end apartments, according to Bloomberg News. Out of the total respondents, 3.3 percent have been evicted at one point, up from 2.8 percent two years ago.
Among people earning more than $60,000 annually, 8.8 percent didn’t pay rent – in entirety – in the last three months, while the figure for people earning between $30-60,000 were at 14.8 percent, and people earning $30,000 or lower were at almost 28 percent.
[Bloomberg News] — E.K. Hudson

Source: The Real Deal Miami