New survey reveals increase in vacation home ownershipAccording to a recent survey, almost six percent of American households now own a vacation home, which is a 1 percent increase from research done 17 years prior. This is an interesting trend in property ownership as the economy continues to grow and information on property investment becomes more accessible. The increase in property ownership has implications for the real estate industry and the tourism sector that heavily relies on vacation homes.
American households own vacation homes or timesharesThe latest research shows that 5.5 million households in the United States own vacation homes or timeshares, with 2.1 million owning camping sites or land. The data also shows that people from higher earning households are more likely to own vacation homes, with almost 20 percent of households with incomes over $200,000 having a second home.
Analysis of latest research on recreation propertiesThe research shows a promising trend of people investing in vacation homes and timeshares. A significant number of Americans are utilizing their funds and energy in investing in recreation properties, which have been described as worthwhile investments with high returns. Vacation homes like Airbnb and VRBO rentals could earn families extra rental income, while also providing a comfortable place to stay for vacation.
Who owns vacation homes in the United States?Statistical findings show that people from higher earning households are more likely to own vacation homes, with almost 20 percent of households with incomes over $200,000 owning a second home. This indicates that property investment is not only becoming more popular in general, but it is also becoming attractive to people with high earning potential.
Camping sites and land ownership statisticsIn addition to the 5.5 million households that own vacation homes or timeshares, another 2.1 million own camping sites or land. This could be related to the growing trend of people seeking outdoor activities and experiences, as well as a desire to create space for activities like RVing and camping. Bold bullet point heading:
– Higher earner households are more likely to own vacation homes
– Over 5.5 million American households own vacation homes or timeshares
– More than 2.1 million households own camping sites or land
– Real estate industry and tourism sector are impacted by vacation home ownership