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Only 4.6% of U.S. Homes Are Second Homes — But Millions Are Making It Work
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Investopedia | Expert Financial Advice and Markets News
Key Takeaways Only a fraction of the U.S. housing stock consists of second homes, but that still translates into millions of vacation properties.
In 2023, the 5.7 million properties considered second homes accounted for just 4% of the country's overall housing stock, the National Association of Home Builders (NAHB) estimates.
In the NAHB's definition, rental properties generally do not count as second homes.
If you can fit a second mortgage within those parameters, you should be able to finance that home.
Note If you are taking out a second mortgage, you may need to put more money down.