One in eight housing units in the country sits empty on any given day, but that number hides two opposite realities. In Maine, most vacant homes are lake cabins waiting for July. In West Virginia, they are often the last house on a block that used to have ten.
Which States Have the Most Empty Homes?
Maine, Vermont, and Wyoming post the highest overall housing vacancy rates in the country, and most of that empty stock is seasonal rather than distressed. According to the Census Bureau's American Community Survey, Maine's total vacancy rate ran near 20.7% as of 2023, driven by second homes along its coast. Vermont sat close behind at 19.7% for the same reason.
These are not ghost towns. Maine's effective property tax rate is 1.04% and its median home price is $360K, according to Live or Die Here state data. Vermont carries a heavier 1.73% property tax rate and an estate tax, on a $380K median home, so the vacancy comes with a real carrying cost even when the house sits empty nine months a year.
| State | Housing Vacancy Rate (2023, Census ACS) | Median Home Price | COL Index |
|---|---|---|---|
| Maine | 20.7% | $360K | 107 |
| Vermont | 19.7% | $380K | 111 |
| Wyoming | 16.9% | $350K | 101 |
| Florida | 16.9% | $415K | 103 |
| Alaska | 16.4% | $340K | 126 |
| West Virginia | 15.8% | $155K | 82 |
| Mississippi | 13.4% | $180K | 82 |
| Arizona | 12.7% | $420K | 102 |
Vacancy Doesn't Always Mean Opportunity
A high vacancy rate can mean a bargain or a warning sign, and the difference comes down to why the homes are empty. West Virginia has a 15.8% vacancy rate and the cheapest median home price on the Live or Die Here list at $155K, but the state also ranks 49th out of 50 for K-12 schools and posts the lowest life expectancy tied with Mississippi at 71.9 years.
Mississippi tells a similar story. Its median home price sits at $180K, but it ranks dead last, 50th, for K-12 education, according to Live or Die Here state data. When vacancy shows up alongside falling population and weak schools, cheap homes reflect people leaving, not a hidden deal.
Compare that to Florida's 16.9% vacancy rate. Much of that stock is snowbird condos and vacation rentals, not abandonment. Florida still draws net in-migration and carries no state income tax, which is a different kind of vacancy story entirely.
Where Low Vacancy Signals a Tight, Expensive Market
California, Nevada, and Utah run some of the tightest housing markets in the country, and their low vacancy rates line up with steep price tags. California's overall vacancy rate has stayed among the lowest in the nation for years, and its median home price of $790K and cost-of-living index of 142, per Live or Die Here state data, reflect that scarcity directly.
Nevada has no state income tax and a median home price of $415K, well below California, but its violent crime rate of 595 per 100,000 is among the highest in the country. Utah's median home price of $500K comes with a much lower crime rate of 237 per 100,000 and a top income tax rate of 4.45%. Low vacancy in all three states means buyers compete harder and prices absorb that pressure fast.
How to Read Vacancy Numbers Before You Move
Vacancy data only tells half the story until it is matched against taxes, crime, and school quality in the same state. A 20% vacancy rate in a state with a shrinking population and a falling life expectancy is not the same signal as a 20% vacancy rate driven by beach houses that sit empty in January.
Older housing stock often shows up in the same states that carry high vacancy for population reasons rather than seasonal ones. The pre-1940 housing stock data shows which states are dealing with aging inventory alongside empty units, a combination worth checking before assuming a cheap vacant home is a good deal. It also helps to look at how leveraged existing homeowners already are in a market before buying into it, which the mortgage debt by county breakdown covers county by county.
Before committing to any state on this list, run the real numbers on taxes, insurance, and monthly costs using the county-level cost calculator, and check the interactive county map to see how vacancy, price, and crime line up block by block rather than state by state.
Frequently Asked Questions
Which state has the cheapest housing in 2026?
West Virginia has the lowest median home price on the Live or Die Here list at $155K, followed by Mississippi at $180K and Kentucky, Louisiana, Iowa, and Oklahoma all near $215K. West Virginia also has the lowest cost-of-living index in the data set at 82.
What state has the worst housing shortage?
Hawaii shows the tightest combination of scarcity and price, with a median home cost of $840K and a cost-of-living index of 196, the highest in the Live or Die Here data. California follows closely with a $790K median home price and persistently low vacancy rates.
Should I buy a house now or wait?
It depends on the state's vacancy driver. In seasonal-vacancy states like Maine or Vermont, waiting rarely changes much since supply is structurally limited. In population-loss states like West Virginia, prices can keep drifting lower, so buyers with flexibility have less urgency to act immediately.
Key Takeaways
- Maine's housing vacancy rate reached 20.7% as of 2023 Census ACS data, but its median home price still runs $360K because most vacant units are seasonal, not abandoned.
- West Virginia combines a 15.8% vacancy rate with the nation's cheapest median home price at $155K and a K-12 rank of 49th out of 50, a sign the vacancy reflects population loss.
- California and Hawaii sit at the opposite end, with median home prices of $790K and $840K and cost-of-living indexes of 142 and 196, both driven by chronically low vacancy.
Sources
- U.S. Census Bureau, American Community Survey
- U.S. Census Bureau, Housing Vacancies and Homeownership (CPS/HVS)
- Live or Die Here state data
Ready to see how vacancy, price, and taxes stack up where you're considering a move? Pull up the full county map and start comparing before you make an offer.