Vacation Homes Make Up 5.5% of Michigan Housing, 11th Most in the U.S.

The U.S. faces a housing shortage of 4.03 million units, driving affordability challenges. Vacation homeownership peaked in 2018 at 5.47 million but declined to 4.74 million in 2024, dropping from 4.0% to 3.3% of housing stock. Timeshares have higher occupancy (79.9%) than hotels (62.3%), efficiently meeting vacation demand. Florida has the most vacation homes, while Maine and Vermont have the highest concentration. Vacation homes dominate in resort communities, sometimes exceeding 50% of housing.