A new study from Anytime Estimate looked at vacancy rates in the U.S. With their data they compiled a list of the 10 most vacant cities in America. They say that more than 16 million housing units in the U.S. are vacant. According to their study, more than one out of every ten housing units in America is going unused.
The study found that most cities with high vacancy rates are in tourism markets. This suggests that many of the vacancies are unused seasonal vacation homes. Considering that Florida is one of the country’s largest tourist markets and home to many vacation properties, it makes sense that the study says Florida has a lot of high-vacancy cities.
The most vacant city in the U.S.
According to the study, Orlando has an overall vacancy rate of 15.3 percent, with nearly 161,000 vacant housing units. Following behind Orlando, Miami is the second city with the most vacancies. Miami has an overall vacancy rate of 14.75%, with a homeowner vacancy rate of 1.7% and a rental vacancy rate of 6.4%.
However, Tampa is the third most vacant city in the U.S. Tampa has an overall vacancy rate of 13.71%, with a homeowner vacancy rate of 1.9% and a rental vacancy rate of 6.9%.
Though Jacksonville didn't make the top 3, it did rank as number 7 for the most vacancies. Overall, vacancy rate of 11.87%, with a homeowner vacancy rate of 1.9% and a rental vacancy rate of 6.3%
The least vacant city in the U.S.
When it comes to the least vacant city in the U.S., the study says Minneapolis. The state has a very low vacancy rate of 4.6%.
Other cities they considered to have the most vacancies include Phoenix, Arizona, Memphis, Tennessee, Las Vegas, Riverside, California, New Orleans, and Birmingham, Alabama.
See the full study breakdown here.
Two Florida Beach Towns Named Most Affordable In The U.S.
Florida is the country's third most populated state with over 22 million people. The weather, plus the coastlines, make the area attractive to those seeking warmth year-round. You might think that coastal living is prohibitively expensive. But that's not always the case. Thrillist recently reported on affordable coastal towns and the results show two Florida beach towns are the most affordable in the country.
In order to create this list, Thrillist researched Zillow information to find "which US beach towns have some of the lowest real estate prices at the current moment." They note that while major markets like Miami saw a significant increase in real estate prices since the pandemic, there are plenty of more quaint beachside towns where you can find reasonably priced waterfront properties.
Daytona Beach
This Atlantic-facing, east coast beach destination had a median home price of $256,550. In fact, Daytona Beach is the first spot mentioned on Thrillist's list. They highlight Daytona's close proximity to Orlando and Jacksonville if you crave some bigger city happenings. The area intends to change its image from being a spring break destination to something a bit more high-end.
Deerfield Beach
The last spot featured by Thrillist was Deerfield Beach. With a median home price of $297,138, Deerfield Beach benefits from being close to large markets like Palm Beach where prices have significantly increased. "Not only does this spot feel more local than many others along the coast, it’s also home to one of the best beaches in the area (it’s even been awarded the “Blue Wave” designation)," the article explains.
The other towns highlighted here were spread throughout the country. Port Arthur and Freeport, Texas offered the cheapest real estate price for their bayside and gulf area. Myrtle Beach, South Carolina and Swansboro, North Carolina were two other southern Atlantic coast destinations that are affordable (but more expensive than Florida).
Though these two Florida beach towns are amongst the most affordable, they are also unique in their own right. Let's take a dive into the waters of each one.
Daytona Beach
Daytona Beach
Deerfield Beach
Deerfield Beach
