Rural southeast counties had highest rates of growth
In addition to revealing the top second home market in every state, the analysis also highlights the percentage of growth each market has seen over the past year. Perhaps surprisingly, the 10 markets with the biggest increases in second home rate locks are largely regional, lesser-known destinations, and the top 5 are located in the southeastern U.S.- Franklin County, Florida, topped the list, with an 11.5% annual increase in its share of second home mortgage rate locks. Known as the “Forgotten Coast,” this area is nestled in the panhandle of Florida, and is home to a stretch of beautiful, pristine Gulf Coast beaches.
- Sevier County, Tennessee, ranked second with a 9.7% increase in rate locks. Sevier County is home to the Great Smoky Mountains National Park, the most visited national park in the country.
- Coming in third at 9.3%, Trigg County, Kentucky, also saw significant increases in its share of second homes. The county is known for its expansive Land Between the Lakes National Recreation Area, which is situated on a peninsula between the Great Lakes and the Gulf of Mexico, and features more than 170,000 acres of breathtaking nature.
Top 10 markets with biggest increases in share of second home rate locks in 2021
1. Florida: Franklin County
- 11.5% increase
- $877K avg. second home price
- Cities and points of interest: Apalachicola, Alligator Point, St. George Island
- 9.7% increase
- $574K avg. second home price
- Cities and points of interest: Gatlinburg, Great Smoky Mountains National Park, Dollywood
- 9.3% increase
- $409K avg. second home price
- Cities and points of interest: Cadiz, Land Between the Lakes Recreational Area
- 8.2% increase
- $188K avg. second home price
- Cities and points of interest: Starkville, Tombigbee National Forest, Noxubee National Wildlife Refuge
- 7.4% increase
- $281K avg. second home price
- Cities and points of interest: Moorefield, Potomac River, George Washington National Forest
- 4.9% increase
- $385K avg. second home price
- Cities and points of interest: Long Beach, Columbia River, Willapa Bay
- 3.9% increase
- $587K avg. second home price
- Cities and points of interest: Mountain Lake Park, Deep Creek Lake, Allegheny Mountains
- 3.7% increase
- $572K avg. second home price
- Cities and points of interest: Ashland, Wahoo, Platte River
- 3.5% increase
- $503K avg. second home price
- Cities and points of interest: Brattleboro, Stratton Mountain, Mount Snow
- 3.4% increase
- $750K avg. second home price
- Cities and points of interest: Winter Park, Hot Sulphur Springs, Rocky Mountain National Park