Vacation Homes Make Up 2.9% to 10.1% of Housing Stock in Five States

The United States faces an estimated shortfall of 4.03 million homes, contributing to higher prices and rents and making it more difficult for first-time buyers and lower-income renters to find stable housing. The analysis examines how vacation homes affect local housing availability, noting that second homes used part time can reduce inventory for year-round residents, while timeshares may concentrate shared vacation use in resort or commercial areas without removing as many conventional homes from the market. Vacation homes account for 10.1% of New Hampshire’s housing stock, 4.5% in South Carolina, 3.9% in North Carolina, 3.8% in New Mexico, and 2.9% in Missouri. The findings add to broader debates over short-term rentals, institutional ownership, and how limited housing stock is allocated.