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Second Homes, Widespread but Few in Number
Monday, October 19, 2020
There were approximately 7.5 million
second homes in the U.S. in 2018, the most recent year for which data is available.
This is 5.5 percent of the nation's total housing stock. Na Zhao, writing in
the National Association of Home Builders (NAHB's) Eye on Housing blog, says
the largest share of these homes are in Florida with a total of 1.1 million
homes, 14.5 percent of the country's total. The fewest homes, only 20,000, were
in South Dakota NAHB defines a second home as one
that qualify for the home mortgage interest deduction using the Census Bureau's
2018 American Community Survey (ACS). This does not include houses held
primarily for investment or business purposes nor does it include homes under
construction.
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