It did, however, align with another trend among the priciest townships in being a “popular vacation spots for affluent individuals who might not make their money locally and can afford to spend significant sums on homes,” as the report put it. “These buyers can snap up a town’s limited housing supply and drive up home prices, making housing difficult to afford for locals who aren’t high-income earners.”
Indeed, this contrast in who lives full-time in certain areas and who is purchasing a second-home there is clear when looking at the areas’ median household incomes, which in the case of Vineyard Haven, Jackson and Breckenridge, are high but not sufficiently high enough to offset the high home values.
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Publish date : 2024-09-20 08:34:00
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