Which state has the highest rate of vacant homes?

For Lease
Photo credit Mario Tama/Staff/Getty Images
By , NewsRadio 1080 KRLD

Despite what current house prices may lead you to believe, the United States has approximately 16 million vacant homes, according to a recent study.

The study by LendingTree defined a home as uninhabited for any reason, including but not exclusive to being abandoned or in a dilapidated state, being available on the market, or simply not in use.

Leading the way in vacancy rate was Vermont with 78,052 vacant homes - making up 22.86% of their market. Following closely behind is Maine with 171,323 (22.68%) homes currently vacant, with Alaska coming in third with 65,929 (20.51%) vacant.

By comparison, Oregon has the nation's lowest vacancy rate with 141,983 (7.76%) vacant. They're followed by Washington with 255,063 (7.87%) and then Connecticut with 123,819 vacant (8.09%).

Podcast Episode
Real Estate Today
Countdown to the Spring Market
Listen Now
Now Playing
Now Playing

Meanwhile, only three states have over one million vacant homes - Florida (1,680,844), California (1,248,161), and Texas (1,216,084).

Sticking with Texas, the Lone Star State landed at 33rd in total vacancy rate with 10.59%. Texas came in at 26th in median home value at $214,400.

LISTEN on the Audacy App
Sign up and follow Audacy
Facebook | Twitter | Instagram

Featured Image Photo Credit: Mario Tama/Staff/Getty Images