RI Ranked 8th Slowest-Growing Vacation Home Market: Report

As the Ocean State, Rhode Island is known for its many beaches, making it a hot spot for summer vacations. But according to a new report, growth of vacation homes is slow in the state, the eighth-worst in the country.

A new survey by IPX found that the Rhode Island vacation home market grew by just 22 percent over the last decade, nearly three time less than the fastest-growing market, Montana. Researchers compared census data from 2009 to 2017, calculating overall growth during that time.

Also at the bottom were Oklahoma and Ohio at 11 percent, and, in last place, Wyoming at just five percent.

Here's a look at the top 10 fastest-growing markets for vacation homes.

1. Montana, 63 percent
2. Mississippi, 58 percent
3. Idaho, 56 percent
4. Nevada, 51 percent
5. Alaska, 48 percent
6. New Mexico, 43 percent
7. Oregon, 43 percent
8. Missouri, 43 percent
9. Arkansas, 42 percent
10. Kansas, 41 percent