Survey Findings of Cape Cod Second Homeowners
July 2017
Nearly all (90%) respondents own just one home other than their primary residence; the remainder own two or more “second” homes. More than one-quarter of second homes are owned by trusts or groups. The majority (85%) of Cape Cod second homes are single-family homes, with an average of three bedrooms.
Nearly 85% of respondents either purchased their second home or purchased the land and built a home. Fifteen percent inherited the house or property. On average, second homeowners and their immediate families have owned these properties for 23 years. Reported lot sizes varied widely, from .01 acres to 40 acres, with an average lot size of three-quarters of an acre. Differences in lot size across the regions are statistically significant, with second homes on the Mid Cape having smaller lot sizes than those on the Upper, Lower, and Outer Cape.
Cape Cod second homeowners are above average in terms of age, education, and income. The average age of respondents is 65, a statistically significant increase from an average of 61 years on the 2008 survey. Eighty percent have a bachelor’s degree or higher, including one-half who hold an advanced degree. Moreover, about 70% have a pre-tax household income of $100,000 or higher. Differences in education and income across the regions are statistically significant, with respondents from the Lower and Outer Cape reporting higher levels of attainment and those from the Mid Cape with the lowest.
