In 2024, the number of second homes in the U.S. was 6.2 million, accounting for 4.3% of the nation’s housing stock, according to NAHB estimates. This reflects a modest decline from 2022, when the number reached 6.5 million. This decline suggests some cooling following the pandemic-era surge in second home demand.
Despite the recent decline, second homes remain highly concentrated in a few states. Florida had the largest stock of second homes, with 943,881 units accounting for 15.2% of the national total. Overall, half of the nation’s second homes are located in just eight states: Florida, California, New York, Texas, Michigan, North Carolina, Arizona, and Pennsylvania.
A closer look at county-level data shows that the concentration of second homes is not simply restricted to conventional locations like beachfront areas. In total, 738 counties across all 50 states had second homes making up at least 10% of the local housing stock. Only Washington D.C. was the exception, reporting a second home share of 1.7%. Moreover, 272 counties—around 8% of all counties nationwide—had second homes accounting for at least 20% of housing units.
In some areas, second homes dominate the local housing market. Counties where at least half of their housing stock is second homes were widely spread over in fourteen states. Of these counties, there were three counties in Colorado, two counties in Utah, California, Massachusetts, Wisconsin, and Pennsylvania, and one county each in Alaska, Idaho, Maryland, Michigan, Minnesota, Missouri, New Jersey, and New York. These national patterns are shown in the interactive map below.
Counties with more than 25,000 second homes are mostly located in or near metropolitan areas. The top ten counties with the most second homes account for around 11% of second home stocks, most of which are in Arizona, Florida, California, Massachusetts, and New York. Of the top 10 counties regarding absolute numbers of second homes, only two counties (Barnstable County, Massachusetts, and Collier County, Florida) had more than 20% of their housing stock in second homes.
In terms of methodology, this analysis focuses on the number and location of second homes that would qualify for the home mortgage interest deduction by individuals and uses the Census Bureau’s 2024 American Community Survey (ACS). It does not account for homes held primarily for investment or business purposes.
NAHB estimates are based on the definition used for home mortgage interest deduction: a second home is a non-rental property that is not classified as taxpayer’s principal residence. Examples could be: (1) a home that used to be a primary residence due to a move or a period of simultaneous ownership of two homes due to a move; (2) a home under construction for which the eventual homeowner acts as the builder and obtains a construction loan (Treasury regulations permit up to 24 months of interest deductibility for such construction loans); or (3) a non-rental seasonal or vacation residence. However, homes under construction are not included in this analysis because the ACS does not collect data on units under construction.