Download - Seasonal Residents and Economic Development
© 2012 Regents of the University of Minnesota. All rights reserved.
Seasonal Residents and Economic Development RYAN PESCH, EXTENSION EDUCATOR
© 2012 Regents of the University of Minnesota. All rights reserved.
SEASONAL RESIDENTS
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PROFILE SECOND HOMEOWNERS IN MINNESOTA’S LAKES DISTRICT 30% seasonal
Methods
– Random sample
of prop tax records
– Mailed survey
(1,200)
– $5 incentive
– 573 responses
(48%)
© 2012 Regents of the University of Minnesota. All rights reserved.
WHAT KIND OF PEOPLE OWN SECOND HOMES?
020406080
100120140160180200
Less than40
40-49 50-59 60-69 70 andover
Respondents by Age Categories (n=561)
0
20
40
60
80
100
120
140
160
180
200
No HSdiploma
HSDiploma
Somecollege
Associatedegree
Bachelorsdegree
Graduatedegree
Respondents by Education (n=565)
© 2012 Regents of the University of Minnesota. All rights reserved.
WHAT KIND OF PEOPLE OWN SECOND HOMES?
Respondents by Employment Status (n=549)
Employed Unemployed Retired
020406080
100120140160180200
Respondents by HH Income (n=510)
53% of respondents have owned, operated, or played
a significant management role in a business
© 2012 Regents of the University of Minnesota. All rights reserved.
WHAT KIND OF PEOPLE OWN SECOND HOMES?
25% of respondents report telecommuting from
second home property
25%
35%
40%
Quality of internet according to respondent who report telecommuting (n=134)
Poor OK Good
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PROPERTY OWNERSHIP
18%
17%
31%
34%
When did you purchase your property? (n=561)
0 to 5 years 6 - 10 years 11 to 20 years Over 20 years
© 2012 Regents of the University of Minnesota. All rights reserved.
REASON FOR PURCHASE
Natural
Amenities
1%
2%
2%
4%
7%
8%
8%
8%
9%
15%
15%
23%
23%
24%
32%
33%
33%
48%
57%
63%
71%
0% 10% 20% 30% 40% 50% 60% 70% 80%
Rental income
Dispersed development
Local living costs
Lower taxes than other areas
Security
Other
Climate
Lower property costs than other areas
Availability of properties
No purchase / I inherited
Investment potential
Friendliness
Intend to retire here
Small town atmosphere
Proximity to recreational amenities
Proximity to family and/or friends
Family has a long tie to area
Water quality
Scenic beauty
Peaceful
Property by the lake
© 2012 Regents of the University of Minnesota. All rights reserved.
SECOND HOME USE
1% 1% 3% 4%
20%
77%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
What is the current use of your property (n=570)
© 2012 Regents of the University of Minnesota. All rights reserved.
SECOND HOME USE
0 100 200 300
1 to 2 people3 to 4 people5 to 6 people
Over 6 people
How many typically occupy when in use?
(n=517)
Average of 4 people
About 208,000 to 52,066
properties in 8 counties
(Source: Census)
© 2012 Regents of the University of Minnesota. All rights reserved.
SECOND HOME USE
0
2
4
6
8
10
12
14
16
18
Average Days per Month
93 Days
Total on
Average
© 2012 Regents of the University of Minnesota. All rights reserved.
FUTURE PLANS
56%
17%
27%
Do you plan to move permanently to second
home? (n=569)
Yes No Undecided
0
5
10
15
20
25
30
35
40
45
50
Next 12months
1-5years
6-10years
Morethan 10
No sure
If yes, when?
Over 200,000 seasonal recreation housing units in the state (US Census) relocation of
about 120,000 households in next 10 years with 60% of seasonal residents relocating.
© 2012 Regents of the University of Minnesota. All rights reserved.
SEASONAL RESIDENT SPENDING
Spending category Median Average
Annual Spending based on Average
Percentage of HH
Spending in Second-
home community
Grocery/Liquor $ 64 $ 120 $ 1,434 89%
Dining/Bars $ 40 $ 74 $ 882 85%
Gas/Auto service $ 50 $ 74 $ 889 84%
Pharmacy $ - $ 11 $ 132 18%
Home maintenance $ 50 $ 95 $ 1,139 81%
Entertainment/Rec $ 34 $ 75 $ 897 81%
Building/Remodeling $ 400 $ 1,066 $ 12,794 59%
$ 18,167
Average of $18,167
Est of $946 million from 52,066 properties in 8 counties
(Source: Census)
© 2012 Regents of the University of Minnesota. All rights reserved.
VIEWS ON DEVELOPMENT
51%,
17%,
32%,
I would like to see more retail and commercial development
Disagree Don't Know Agree
29%
20%
50%
Additional residential development threatens the quality of life
Disagree Don't Know Agree
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COMMUNITY ATTACHMENT
I feel strongly attached to my
second home property
Disagree Don't Know Agree
I feel strongly attached to the community near my
second home
Disagree Don't Know Agree
© 2012 Regents of the University of Minnesota. All rights reserved.
COMMUNITY CONNECTIONS
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Held publicoffice Held leadership
Volunteered incomm org Involved in
community org Made donation
Community Connection by Residence (n=522)
In 2nd home Would consider At home
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COMMUNICATIONS
050
100150200250300350
How do you learn about news and events? (n=559)
Typical Prefer
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CONVERSATION
What has been the experience of your
community with seasonal residents?
How best to integrate seasonal residents?
© 2012 Regents of the University of Minnesota. All rights reserved.
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