The U.S. has about 7.4 million vacation and second homes, or about 5.6 percent of the total housing stock, according to a recent National Association of Home Builders (NAHB) analysis of 2016 national census data.
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Florida has the largest stock of second homes – 1.1 million properties – followed by California, New York, Texas, Michigan, North Carolina, Arizona and Pennsylvania.

The counties with the most second homes tend to be located in or near metro areas.

The following 10 counties, half of which are in Florida, have the most second homes:

1. Maricopa County, Ariz.: 113,513 second homes
2. Palm Beach County, Fla.: 99,536
3. Broward County, Fla.: 97,224
4. Lee County, Fla.: 95,671
5. Miami-Dade County, Fla.: 87,225
6. Riverside County, Calif.: 76,331
7. Pinellas County, Fla.: 65,281
8. Barnstable County, Mass.: 63,225
9. Collier County, Fla.: 61,050
10. Suffolk County, N.Y.: 58,452

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State income taxes tend to be a predominant determining factor when high-earners choose a place to live, but a study from RewardExpert, "The Best States for High-Earners and Affluent Families", takes a holistic look at what makes a given location hospitable to high-income Americans.

The ranking accounts for 20 data metrics regarding real estate prices and trends, school quality, public safety, local sales taxes, and overall quality of life in addition to state income tax brackets, rates, deductions and exemptions.

Florida ranked fourth nationwide.
​In picking out the top reasons for the rank, the study cited:

- No state income tax.

- Rebounding home values, noting that “property values in Florida are up by 1.03 percent from early 2008, and up by 9.57 percent in the past year.”

- A low effective property tax rate of 0.82 percent and “generous homestead exemption amounts.”
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- Public schools ranked fourth-best In the U.S. with 171 gold and silver medal schools.

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