Vacant homes often evoke images of dilapidated buildings and neglected neighborhoods. But while some empty properties do raise concerns, not all vacancies signal decline. In fact, in states like Maine, a high number of vacant homes may reflect something entirely different — seasonal tourism, second-home ownership, and strong buyer demand.
A new study from LendingTree, analyzing data from the U.S. Census Bureau’s 2023 American Community Survey, reveals that Maine has the highest housing vacancy rate in the country, with 157,467 vacant homes out of a total of 746,552 housing units — a staggering 21.09% vacancy rate. That’s double the national average of 10.43%, which represents nearly 15 million empty homes nationwide.
What’s behind these numbers? While high vacancy rates can sometimes point to economic distress, in Maine’s case, the explanation is more nuanced. The state is a magnet for seasonal tourism and vacation-home buyers. Many properties are used only during the summer or rented short-term during peak seasons, remaining empty for much of the year. These types of vacancies, while technically unoccupied, don’t necessarily diminish the value or utility of the homes — or the neighborhoods they're in.
“Vacation homes and seasonal rentals make up a sizable portion of Maine’s housing stock, especially in coastal and lakeside towns,” said a housing market analyst. “These properties aren’t abandoned — they’re just not occupied year-round.”
The LendingTree study categorized vacancies across several groups, including homes "for rent," "for sale," "seasonal use," and those "held for other reasons." Notably, many vacant properties are not available for purchase or rent, meaning the true number of homes available to full-time residents is far smaller than raw vacancy rates might suggest.
This has important implications for Maine’s housing market. Even as construction increases and demand remains strong, the inventory of homes accessible to year-round residents remains tight — especially for affordable options.
Maine isn’t alone. Two of the top three states with the highest vacancy rates are in New England, underscoring the region's appeal to second-home buyers and seasonal residents.
So while the image of "no one's home" might ring true for census data, the real story is far more complex. In Maine, vacancy doesn’t always mean neglect — it often means retreat.