Vacation rental ownership among young adults is climbing. Even despite limited credit histories or down payments, young adults are finding a way to purchase a vacation rental, eyeing it as a lucrative investment.
The proportion of homeowners under age 30 who purchased a vacation property doubled between June 2019 and June 2021, according to Evolve, a vacation-rental management and hospitality firm, which has properties bookable on its website as do Airbnb, Booking.com, and Vrbo. That percentage is significantly higher than the 17% growth during that period among homeowners between 31 to 56 or the 11% decrease among those ages 57 to 75.
“This is quite clearly a growing segment,” Brian Egan, co-founder and CEO of Evolve, told The Wall Street Journal.