14.5 Million U.S. Homes Are Vacant—These States Have the Highest Rates [New LendingTree Study]

Millions of U.S. homes are sitting empty, but vacant doesn't necessarily mean available. 

LendingTree analyzed the latest housing data to reveal where vacancy rates are highest, how they've changed over time, and what they say about today's housing market.

• 14.5 million U.S. homes—1 in 10—sit vacant: 4.7 million are seasonal/recreational, 2.6 million are available to rent, and fewer than 800,000 are for sale.
• Vacancy looks different by state: In Vermont, 76% of vacant homes are seasonal/recreational, leaving about 1 in 7 homes empty in the offseason. In D.C., 39% of vacant homes are available for rent—the nation's highest share.

• Homes are $167,678 pricier in low-vacancy states: States with the lowest vacancy rates have an average median home value of $435,118. Still, Alaska, Florida, and New Hampshire combine high vacancy rates with home values above the national median of $332,700.
• Vacancy rates vary widely: Maine leads at 21%, followed by Vermont (19%) and Alaska (18%). Connecticut is lowest at 7%, followed by Washington (7%) and California, New Jersey and Oregon (8% each). 
• Vacancies declined nationwide: The U.S. vacancy rate fell 0.31 percentage points (about 302,000 homes) from 2023 to 2024, led by Wyoming (-1.23 points), North Dakota (-1.03) and Rhode Island (-0.72). Only D.C. (+0.42) and Oregon (+0.05) saw increases. 

You can check out the full report here: https://www.lendingtree.com/home/mortgage/vacancy-rates-study/

LendingTree's Chief Consumer Finance Analyst, Matt Schulz, had this to say: 

“For consumers frustrated by today's housing market, these numbers can be confusing. Millions of homes may be classified as vacant, but most aren't realistically available for someone looking to buy. That helps explain why so many buyers continue to face limited choices and stubbornly high prices, even when it seems like there should be more homes on the market."

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