Ocean City Named Top Market In U.S. For A Second Home: Report

OCEAN CITY, N.J. — Ocean City was named the best market for your literal home away from home. SmartAsset, a financial technology company that offers personal-finance advise, named Ocean City the top town for a second home.

The abundance of second-home owners in Ocean City placed it in the top spot. According to SmartAsset, Ocean City has 2,865 mortgages for secondary residences and 744 for primary residences. That totals 79.39 percent of mortgages for secondary homes.

SmartAsset data from 402 metro areas around the U.S. They divided the number of homes purchased as non-primary residents by the total number of purchases for each metro area. The data for both metrics, which contains 2017 totals, came from the Consumer Financial Protection Bureau’s Home Mortgage Disclosure Act Database.

According to the data, nobody comes close to Ocean City for second-home-mortgage abundance. The second-place town of Salisbury, Md.-Del., has a 54.30 percentage of mortgages for second residencies.

Ocean City beat out several Eastern-Seaboard towns for the top 10, with eight towns appearing in eastern states. Atlantic City-Hammonton placed 10th with 40.79 percent of mortgages from second residencies.

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