MARKET PULSE – 2.5% of region’s housing stock second homes, airbnb rentals
Don Fenley
They’re a housing element all-unto themselves that often gets little attention in the broader conversation about housing in the Tri-Cities region. According to Census and web services counts there are a little over 5,000 second homes and almost 3,000 airbnbs in the region. That’s about 2.5% of the region’s total housing stock.
The most reliable number is the Census count of second homes. It’s a count that will be updated next month.
Census typically counts these homes as vacant because they are for seasonal, recreational, or occasional use across the nine-county Tri-Cities region.
The county with largest share – but not the largest number – is Johnson. The county with the second highest share is Scott Co. VA.
Here’s a county count with the number of second homes and their share of their county’s total housing stock:
- Hawkins – 565 – 2.1%
- Sullivan – 1,404 – 1.9%
- Washington Co. VA – 790 – 3.1%
- Scott Co. VA – 398 – 3.4%
- Carter – 753 – 2.7%
- Washington Co. TN – 480 -0.8%
- Unicoi – 137 – 1.6%
- Johnson – 472 – 5.4%
- Greene – 533 – 1.7%
During the pandemic housing boom second-home sales boomed with people relocating from larger metro area to rural locals with a game plan of working remotely, or just getting away from the crowds, according to ResiClub Pro. The Tri-Cities offered an inviting target with affordable housing and a lifestyle that was semi-rural but larger and sophisticated enough to afford some metro amenities.
It didn’t hurt that several national reports listed the region as one of the best spots in the nation with a good qualify of life, low taxes and affordable housing.
The Airbnb count is based on the number of properties advertised in one rental service, and there are several other services. The airbab market is less vibrant than it was during the time Ballad health heavily relied on visiting nurses. But it’s still a vibrant component of the region’s emerging vacation industry.
Here’s the latest county count for rentals with Airbnb.
Sullivan – 592
Hawkins – 108
Washington Co. Va – 454
Scott Co. Va – 49
Carter – 419
Washington Co. Tn – 513
Unicoi – 207
Greene – 189
Johnson – 327
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