Home Vacancies In Florida Jumps To 1.5 Million
According to a new report from LendingTree, Florida has one of the highest vacancy rates among all 50 states at 15.2%. That means there are 1,531,445 vacant housing units.
Florida ranks 5th among all states based on the ratio and first among all states in the raw count of vacant units. Nationally, the vacancy rate is 10.4%, which translates to approximately 15 million units.
Vacant homes can be those in “transition,” which means they are probably in the sales process, or vacation homes that are occupied only part of the year.
Vacation Homes?
Other states with high vacancy rates include Maine (21.1%), Vermont (20.1%), Alaska (18.2%), and West Virginia (16.1%)
What isn’t clear is why the Florida rate is so high. One may be that there are a large number of vacation homes.
However, many people have reconsidered moving to Florida, and some living in Florida are considering moving elsewhere. This is for two reasons. The first is the frequency of ever-violent storms and the associated cost of home insurance.
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