813.910.8020 Apply Now

Mortgage Broker Tampa, FL | Mortgage Lender Tampa Florida | Marimark Mortgage

  • Home
  • Homebuyers
  • Homeowners
  • Realtors
  • Investors
  • About Marimark
  • Contact Us
  • Mortgages
  • Apply Now
  • Current Mortgage Rates
  • Calculators
  • Testimonials
  • Blog
  • Videos
  • Featured In
Home / Blog / Housing Market / Florida Boasts 9 of the 10 U.S. Cities with the Most Vacation Homes

Florida Boasts 9 of the 10 U.S. Cities with the Most Vacation Homes

August 19, 2019 By Admin

Florida Vacation PropertyFlorida is home to some of the world’s best vacation spots, so it’s not surprising that 9 of the 10 top cities for vacation homes are in Florida, according to Zillow.

We all need an occasional vacation, and a chance to escape from the stresses of day-to-day life with family and friends. Staying in hotels, inns, and B&Bs can be a lot of fun; however, there’s nothing quite like getting away from it all in your very own vacation home.

A vacation home gives you all the fun and adventure of a vacation, while also giving you the feeling of familiarity and comfort that comes from staying in your own home. Plus, vacation homes have income potential when you are not on vacation, which helps to offset the cost of a second home.

The Sunshine State is home to the top cities to own a vacation home. In fact, 9 out of the top 10 U.S. cities for vacation homes are in Florida. So, let’s take a look at the top cities in Florida to own a vacation home.

Miami Beach

Miami Beach

Of course, we can’t talk about vacation homes without talking about Miami Beach. The iconic city has premium real estate for vacationers from far and wide. Vacation homes make up a staggering 24.9% of the market with 17,509 vacation homes overall and a median value of $366,800.

Pompano Beach

Pompano Beach

North of Miami Beach, you’ll find the popular city of Pompano Beach, home to numerous beaches and marinas as well as an offshore coral reef. You’ll also find 10,794 vacation homes making up 18.7% of properties with a median home value of $214,000.

Fort Lauderdale

Fort Lauderdale

Fort Lauderdale is near the Everglades, as well as home to Hugh Taylor Birch State Park and famous upscale hotels and restaurants. Fort Lauderdale is the vacation spot that keeps on giving. It boasts 15,170 vacation homes with vacation properties making up 16.2% of the local market. The median value of a vacation home in Fort Lauderdale is $312,900.

Cape Coral

Cape Coral

Famous for its manatees, aquatic birds and opulent Yacht Club, Cape Coral is a hugely popular vacation spot. In fact, 15.8% of all homes in Cape Coral are vacation homes. That’s 13,627 in total with a median value of $227,800.

Boca Raton

Boca Raton

Located on the southeast coast, Boca Raton is an ever-popular destination for vacationers from all over the country and beyond. With ample golf courses, parks and beaches as well as the Red Reef Park, it’s easy to see why. Here vacation homes make up 13.1% of homes with 7,122 in all and a median value of $339,100.

 

Hollywood, FL

Hollywood, FL

Hooray for Hollywood! No, not that one, the one in Florida. The one that has the stunning Anne Kolb Nature Center with its characteristic mangrove trails and the palm tree-lined Broadwalk. The one with the thriving Art and Culture Center and the surprising multitude of fine vacation homes. You’ll find 8,416 vacation homes in all, making up 12.3% of housing. Median home value here is $277,500.

Largo

Largo, FL

As one of the largest cities in Pinellas County, Largo has grown exponentially since the 1960s and now has a plethora of vacation homes. 5,640 of them to be exact! They make up 12.3% of overall housing and their median value is $195,800.

Clearwater

Clearwater, FL

Located in Tampa Bay, Clearwater is well known for its stunning beaches and bevy of luxurious vacation homes. Making up 12.2% of all homes in the city, there are 7,072 vacation homes in total with a median home value of $211,100.

West Palm Beach

West Palm Beach

The stylish and cultural city of West Palm Beach has much to tempt vacationers, but it also has a great many homes in which they can lay down their heads after shopping in the CityPlace District. You’ll find 6,020 in total with a median value of $238,600 making up 11.6% of all homes.

Finance a Vacation Home

Of course, in order to call any of these great cities your second home, you’ll need to finance your new vacation home. Here’s how you do it;

  • Know the requirements. A vacation home must be 50 miles away from your primary residence. If you plan to rent out your vacation property, it will technically be an investment property with different rules.
  • Qualify for a vacation home loan. There are specific mortgage products for vacation homes. You’ll need to put a significantly higher down payment on a vacation home than you would on a primary residence – usually 10-20% and at least 20% for an investment property.
  • Know your options. If you’d rather not take out a vacation home loan, there are other options available like a Home Equity Line of Credit (HELOC), cash-out refinancing on your home’s equity, or even going in with friends and sharing the property.

Marimark Mortgage

Marimark Mortgage is based in Tampa, Florida and serves the mortgage needs of homebuyers, homeowners, and investors in Florida, Virginia, and Pennsylvania.

We specialize in conventional home mortgages, FHA, VA, and USDA mortgage options, refinance loans, and reverse mortgages. We’ve worked extensively with cash-out refinancing and help clients to lower their monthly mortgage payments.

To get started with a mortgage to buy your next home, please fill out our Quick Mortgage Application, or contact us direct.

Opt In Image
Stay Informed, It's Your Money
Marimark Mortgage Newsletter

The Marimark Mortgage Newsletter will keep you informed with important events in the mortgage industry that could impact your finances.

We especially focus on ways to save money on your current and future mortgages. And, we continually share the information we share with our clients, because we believe informed consumers are the best consumers.

Real estate agents, and other professionals in the industry, will receive an ongoing wealth of information that will help them serve their clients.

Thank you for signing up!

Filed Under: Housing Market

Opinions, estimates, forecasts and other views contained in this page do not necessarily represent the views of Marimark Mortgage or its management and should not be construed as an offer to provide financing at the rates or terms mentioned. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval. Although Marimark Mortgage attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. Information from this page may be used with proper attribution.

Save with a Mortgage from Marimark

Whether you are buying a home or refinancing, you can save with a mortgage from Marimark Mortgage!

    Search

    Post Categories

    Testimonials

    Refinancing with Mary an absolute pleasure

     
    Refinancing with Mary has been an absolute pleasure. I have never been through the process before and she took the time to explain each step. She was prompt (had a rate locked in right away) and most importantly always answered the phone or emails almost immediately! The communication line alone made the refinancing process every bit worth it. Would recommend to anyone, and will be back for any future purchases! Bret Brennan, March 2021
    See More Reviews
    Marimark Mortgage LLC
    5327 Primrose Lake Circle
    Tampa, FL 33647-1328
    (813) 910-8020
    (866) 910-8020

    Accessibility
    Privacy Policy
    Terms of Service
    Sitemap

    Reviews

    Website Testimonials
    Google Reviews
    Zillow Reviews
    Trulia Reviews
    Facebook Reviews
    Yelp Reviews
    BBB A+ Rating

    FOLLOW US

    • ‎
    • ‎
    • ‎
    • ‎
    • ‎
    • ‎
    Marimark Mortgage is a BBB A+ Accredited Business

    Recent Posts

    • FHA Announced a 30-Basis Point Reduction to Annual Mortgage Insurance Premiums
    • How Can You Improve Your Credit Score?
    • Historical Mortgage Rates From The 1970s
    • What You Need to Know About Mortgage Forbearance
    • Top Tips to Save Money for a Down Payment

    © 2023 Marimark Mortgage, LLC All Rights Reserved. | Internet Marketing by Image Building Media. | RSS Feed

    Reviews / Recommendations: Google, Zillow, Trulia, LinkedIn, Facebook, Yelp, BBB

    Licensed in Florida by the Office of Financial Regulation, Mortgage Lender License #MLD77.
    Licensed in Virginia by the Virginia State Corporation Commission, License MC#4556.
    Licensed in Pennsylvania by the Department of Banking and Securities, License #40222.
    NMLS#248318 – www.nmlsconsumeraccess.org.