Location is important in any kind of real estate investment, and it’s everything when it comes to succeeding as a VRP investor. Do you visit a particular locale often? Does the location fit your lifestyle and vacations? Is it a popular area for tourists year-round? Armed with this kind of reflection combined with the latest data, you’re more likely to make a good decision about where to invest in VRP.
A recent Business Insider piece used data from the real estate app Zillow and the US Census Bureau to find the 25 top cities in the country for vacation homes. The top ten spots on the list all had one thing in common: Florida.
Curious? Of course, you are! Without further ado, here are the top 10 locations for VRP in 2019. We hope these Floridian cities are on your wishlist:
- Miami Beach, Florida is home to 17,509 vacation homes, or 24.89% of all homes in the city.
- Pompano Beach, Florida is home to 10,794 vacation homes; 18.72% of the total number of homes located here.
- Fort Lauderdale, Florida has 15,170 vacation homes; 16.15% of all homes.
- Cape Coral, Florida has 13,627 vacation homes, which is 15.82% of the total number of homes.
- Fort Myers, Florida is home to 5,205 vacation homes; 13.23% of all homes here.
- Boca Raton, Florida has 7,122 vacation homes; 13.1% of the total.
- Hollywood, Florida has 8,416 vacation homes, which is 12.32% of the total number of homes.
- Largo, Florida has 5,640 vacation homes; 12.32% of the total.
- Clearwater, Florida is home to 7,072 vacation homes; 12.24% of the total.
- Boynton Beach, Florida has 4,113 vacation homes, which is 11.7% of the total.
If you prefer the western half of the United States to the Sunshine State, fear not. Arizona and Nevada also ranked highly on the list.
Interested in learning more about the ins and outs of VRP ownership? Grab a copy of LIFE AS A VACATION®: The Ultimate Buyer’s Guide to Vacation Rental Property.