AdvisorSmith Finds the Most Popular U.S. Cities for Second Homes

 
NEW YORK - Aug. 16, 2021 - PRLog -- AdvisorSmith, a leading resource for small business and economic content, released its newest study where they examined the most popular cities to find where Americans were purchasing their second home.

AdvisorSmith examined data from the U.S. Census Bureau's American Community Survey to find the cities, using 5-year estimates from 2019, the most recent year available. They looked at estimates for the number of homes in each city with over 10,000 residents classified as seasonal, recreational, or occasional use.

AdvisorSmith considered homes used only in certain seasons, weekend homes, or other occasional use during the year. The houses in the study that are not used as primary residences included beach cottages, ski cabins, hunting cabins, and timeshare condos.

AdvisorSmith ranked cities by the number of second homes in each city based upon the population of each city. Large cities had over 350,000 residents, while midsize cities had between 100,000 and 350,000 residents, and small cities had between 10,000 and 100,000 residents.

The most popular large city to purchase a second home was New York. On average, in large cities, 1.2 percent of the housing stock was second homes, and there was an average of five-second homes per 1,000 residents.

The most popular midsize city was Scottsdale, Arizona. Among midsize cities, an average of 1.3 percent of homes were second homes, and there were 5.4-second homes per 1,000 residents.

The most popular small city was Miami Beach, Florida. Second homes were much more common in small cities, with 1.8% of the housing stock being second homes on average and 9.9-second homes per 1,000 residents on average.

To view the complete study, visit https://advisorsmith.com/data/the-most-popular-cities-for-second-homes/.

About AdvisorSmith

AdvisorSmith is a leading information resource for small business owners. AdvisorSmith empowers small businesses with original research and insights into trends to help them succeed. For more information, visit https://advisorsmith.com or follow us on Twitter @AdvisorSmithInc.
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Industry:Real Estate
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