PROVIDENCE – Just over 4% of properties in Rhode Island were vacation homes in 2017, according to a new report from Investment Property Exchange Services Inc.
Rhode Island had the second-lowest vacation-home rate in New England, ahead of only Connecticut. Maine had the highest vacation-home rate in the nation at 19.3%.
Vacation homes were non-usual homes, such as seasonal homes or homes that only saw occasional use.
Within Rhode Island, the report found that the Rhode Island neighborhoods the highest concentration of vacation homes were on the coast of Westerly, in the contiguous areas of Misquamicut, Watch Hill and Weekapaug. The three areas had a vacation home share of 72%, 67% and 61%, respectively.
The report highlighted hot spots using data from the U.S. Census Bureau, identifying Census Designated Places, which included unincorporated communities, rural communities, villages and incorporated cities and towns.
Illinois ranked last among states in the report on our list with 1% of homes in the state being designated as vacation homes.
New England vacation home share in 2017:
- Maine: 19.3%
- Vermont: 17.5%
- New Hampshire: 11.8%
- Massachusetts: 4.5%
- Rhode Island: 4%
- Connecticut: 2.1%
