Currently, there are about 16M homes sitting vacant across the country, according to LendingTree.

Factors Driving Vacancy Rates as Important as Vacancy Rates Themselves

As we all know, things aren’t always as they seem.

A house doesn’t have to be dilapidated to be considered vacant.  A house can be unoccupied because it is a seasonal rental or on market to be sold or rented.  Or, house can be unoccupied because it is waiting to be renovated…and that wait can be a long one due to labor and material/supply shortages.

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Nationally, the average vacancy rate is 6.8%.

New Study Indicates to States with Top Vacancy Rates

LendingTree’s newly released study put together a ranking of the states with the top vacancy rates according to the 2020 census.  This study emphasizes the point that reality is often different than appearances.

Vermont – 17% of Vermont’s housing is seasonal – the second highest in the country

Total housing units: 341,405

Vacant housing units: 78,052

Vacancy rate: 22.86%

Median home value: $67.428

Maine – 1 in 5 houses in Maine classified as vacation homes

Total housing units: 755,380

Vacant housing units: 171,323

Vacancy rate: 22.68%

Median home value: $58,782

Alaska – state’s population declining for 5 consecutive years

Total housing units: 321,285

Vacant housing units: 65,929

Vacancy rate: 20.51%

Median home value: $80,197

West Virginia – state’s population down -3.3% in past decade with the capital city of Charleston’s population falling -5%

Total housing units: 896,570

Vacant housing units: 162,490

Vacancy rate – 18.2%

Median home value: $49,400

Alabama – one of poorest states in nation with one of the highest rates of empty and abandoned housing; also has significant share of seasonal housing in coastal areas where the vacancy rates run at 30%

Total housing units: 2,302,582

Vacant housing units: 407,252

Vacancy rate: 17.69%

Median home value: $53,956

Florida – state is hot vacation destination and has hot housing market

Total housing units: 9,814,540

Vacant housing units: 1,680,844

Vacancy rate: 17.13%

Median home value: $61,736

New Hampshire accelerating home prices causing some owners to sell and cash in on equity

Total housing units: 646,849

Vacant housing units: 108,297

Vacancy rate: 16.74%

Median home value: $80,972

Mississippi – much of state’s city housing is student housing that sits vacant for some months of the year

Total housing units: 1,345,251

Vacant housing units: 218,777

Vacancy rate: 16.26%

Median home value: $47,247

Louisiana – thousands of homes remain abandoned and/or blighted by Hurricane Katrina in 2005

Total housing units: 2,103,943

Vacant housing units: 341,074

Vacancy rate: 16.21%

Median home value: $51,730

Wyoming – many homeowners cashing in due to relocating buyers searching for lower living costs and natural beauty; state is popular tourist destination with many vacation rentals

Total housing units: 281,946

Vacant housing units: 44,767

Vacancy rate: 15.88%

Median home value: $66,432

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Thanks to LendingTree.










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