Nantucket Leads Nation in Luxury Second Homes

Nantucket, Massachusetts, has emerged as the leading U.S. market for luxury second homes, with 55% of its housing stock designated for vacation use. This figure represents the highest share of vacation homes in any U.S. market, according to a recent Realtor.com® Luxury Housing Report. The island's unique geography, where 50% is preserved for conservation, significantly limits new development, driving up property values. Consequently, Nantucket has earned the moniker "Billionaires Isle," as even modest properties command multi-million dollar prices.

The report analyzed metro and micropolitan areas with at least 100 listings above $1 million in June 2026 and a vacation home share of 25% or more. Nantucket's luxury market, defined as the top 10% of listings by price, begins at an exceptionally high $14.1 million, far exceeding other markets. For comparison, Vineyard Haven, also in Massachusetts, ranks second with a luxury entry point of $8.2 million.

On Nantucket, the median square footage for homes priced between $1 million and $2 million is a mere 1,011 square feet, the smallest among the luxury report's participants. This indicates that land and location are the primary drivers of value on the island, rather than the size of the residence. Historically a whaling and fishing hub, Nantucket is now a sought-after vacation destination for numerous celebrities and high-profile individuals.

Even historically simple structures, such as a 600-square-foot fisherman's shack built in the early 19th century, can be listed for nearly $4 million, a price point considered typical for the island. This trend underscores the extreme premium placed on real estate in Nantucket, where the scarcity of developable land and the island's appeal as an exclusive retreat contribute to its status as the nation's premier luxury second home market.