If you’re on the prowl for a home in the Miami area or simply window-shopping, chances are good that any one you find on a random walk down the street is a vacation home. In fact, according to a ranking by Zillow of the top 10 U.S. cities for vacation properties, nine were in Florida (Scottsdale, Arizona, was the lone exception at No. 10) and more than half were in the Miami area. In each of the cities listed, at least 10 percent of the local housing stock is made up of vacation rentals or homes with part-time owner-occupants.
Miami Beach made it to the very top of the list as the city with the highest concentration of vacation homes in the nation — almost 25 percent of the city’s housing stock. Out of 17,509 vacation homes counted by Zillow within the borders of Miami Beach, the median value on those vacation properties was $366,800, second only to Scottsdale in terms of price.
If you’re looking for a bargain on a vacation pad in the Miami area, though, you might want to check out Pompano Beach. This city on the northern coast of the greater Miami metro boasts the second-highest share of vacation homes, Zillow found, with a median value of $214,000. Only Largo, outside of Tampa, had a high concentration of vacation homes that were less expensive (with a median value of $195,800).