Orlando is among the Florida cities leading the nation in vacant homes

by

comment
PHOTO VIA ADOBE IMAGES
  • Photo via Adobe Images
It should come as no surprise that second-home owners love Florida, which may explain why three cities in the Sunshine State currently lead the country in percentage of vacant homes.

According to a new study from online lending company Lending Tree, 17 percent of homes in the Miami area are vacant, compared to 16 percent in Orlando and 15 percent in the Tampa Bay area. Jacksonville was also in the top 10, with a vacancy rate of 13 percent.



The study suggests that while the high vacancy rates in Florida are well above the national average of 9.4 percent, the reasons aren’t necessarily bad.

"... Florida is a popular destination for homeowners to buy secondary residences. These types of residences often remain unused throughout most of the year, with their owners only living in them during select times, like winter. This means they count as vacant in our data," says the study.



GRAPHIC VIA LENDING TREE
  • Graphic via Lending Tree

Cities like Birmingham, Ala., Memphis, Tenn. and New Orleans also have higher than average vacancy rates, but LendingTree attributes this to things like sluggish economic growth, and loss of population. “New Orleans has yet to fully recover from the effects of Hurricane Katrina, which experienced a loss in population,” says the study. “Although many homes were destroyed, the stock of homes is now higher than before Katrina, but the population has yet to go above its previous high.”

Cities among the lowest occupancy rate include San Jose, California; Minneapolis and Denver.

Stay on top of Orlando news and views. Sign up for our weekly Headlines newsletter.

We welcome readers to submit letters regarding articles and content in Orlando Weekly. Letters should be a minimum of 150 words, refer to content that has appeared on Orlando Weekly, and must include the writer's full name, address, and phone number for verification purposes. No attachments will be considered. Writers of letters selected for publication will be notified via email. Letters may be edited and shortened for space.

Email us at feedback@orlandoweekly.com.

Orlando Weekly works for you, and your support is essential.

Our small but mighty local team works tirelessly to bring you high-quality, uncensored news and cultural coverage of Central Florida.

Unlike many newspapers, ours is free – and we'd like to keep it that way, because we believe, now more than ever, everyone deserves access to accurate, independent coverage of their community.

Whether it's a one-time acknowledgement of this article or an ongoing pledge, your support helps keep Orlando’s true free press free.