ORLANDO, Fla. — Florida has one of the country’s highest housing vacancy rates despite home values remaining above the national median, according to a new analysis.
Approximately 1.5 million of Florida’s 10.3 million housing units were classified as vacant, giving the state a vacancy rate of 14.7%.
The LendingTree analysis ranked Florida fifth nationally, behind Maine, Vermont, Alaska and West Virginia. The national vacancy rate was 10.1%.
Vacant does not necessarily mean available to buyers. The U.S. Census Bureau classification includes vacation homes, seasonal properties, available rentals, homes that have already been sold and properties being held off the market.
LendingTree analysts said Florida’s large number of seasonal and second homes likely contributes to its high vacancy rate.
Florida’s median home value was $359,000, according to the analysis. That was higher than the national median of $332,700 despite the state’s elevated vacancy rate.
The state’s vacancy rate declined from 15.2% in 2023 to 14.7% in 2024.
Nationally, 14.5 million homes were classified as vacant. About 4.7 million were used seasonally or recreationally, while fewer than 800,000 were listed for sale.
The report was based on the U.S. Census Bureau’s 2024 American Community Survey five-year estimates.
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