The vacation home buyer
Who are they?
Median age 46
Median household income $99,100
What are they buying?
Detached single-family house59%
Condo29%
Townhouse/rowhouse7%
Other 5%
New construction35%
How much did they pay?
Median price$195,000¹
Paid cash28%
Why buy?
Family retreat84%
Primary residence in future30%
Diversify investments26%
To rent25%
Tax benefit16%
Use by family member, friend or relative14%
Extra money to spend6%
Where are they?
Distance from primary residence287 miles
Rural area30%
Resort20%
Suburb20%
Urban area or central city14%
¹ Down 2.5% from $200,000 in 2006
The investment home buyer
Who are they?
Median age42
Median household income$92,900
What are they buying?
Detached single-family house61%
Condo20%
Townhouse/rowhouse11%
Other8%
New construction29%
How much did they pay?
Median price$150,000²
Paid cash35%
Why buy?
To rent51%
Diversify investments39%
Family retreat21%
Use by family member, friend or relative16%
Tax benefit11%
Primary residence in future10%
Extra money to spend4%
Where are they?
Distance from primary residence27 miles
Suburb39%
Small town21%
Urban area or central city20%
Rural area15%
Resort5%
² Unchanged from 2006
