8 in 10 Americans Want Second Homes Through Co-Ownership, Pacaso Survey Finds

New study reveals pent-up demand for affordability, flexibility and financing alternatives— signaling a redefinition of the American Dream

SAN FRANCISCO, Aug. 14, 2025 /PRNewswire/ -- Pacaso, the tech-enabled marketplace for co-owned luxury vacation homes, today released findings from a national survey it commissioned and Pollfish fielded in July 2025. The research offers the clearest view yet of a growing movement: second-home ownership through shared equity. Findings show the model is moving into the mainstream. 80% of U.S. adults view professionally managed co-ownership as attractive, and over 75% say shared costs would make them more likely to move from browsing to buying. Interest is strong across the board, with 68% of U.S. adults open to Pacaso's model. This mirrors a broader shift: Zillow's 2024 Consumer Housing Trends Report found that 63% of recent buyers co-purchased their primary home, underscoring the normalization of shared ownership.

"The 30-year mortgage gained popularity when the microwave, LP record and cable TV were brand new," said Austin Allison, Pacaso co-founder and CEO. "It hasn't kept up with the way people actually live. Buyers today want optionality—multiple homes, less debt, and financing that fits modern lifestyles. That's the future we're building toward."

Key insights from the survey reveal widespread demand for smarter vacation-home ownership models:

• Mainstream appeal: 80% of adults are interested in the idea of owning a fraction of a home that comes fully furnished and is professionally managed.
  
  
• Price unlock: 64% would consider buying a second home if they could split the cost of ownership instead of shouldering it alone.
  
  
• Market validation: 68% of U.S. adults favor Pacaso's second-home co-ownership model, topping the 63% co-buying rate among primary homebuyers in Zillow's 2024 Consumer Housing Trends Report.
  
  
• Trend confirmation: Americans are rethinking how they buy vacation homes, prioritizing flexibility, access and shared costs over outdated ownership models.
  
  
• Cross-generation interest: Millennials and retirees register nearly equal enthusiasm for co-ownership, at 66% and 63%, respectively.
  
  
• Heartland lift: Residents of small towns and rural areas are 23% more likely than coastal counterparts to consider co‑ownership; Midwestern shoppers put lake regions at the top of their wish list.
  
  
• Borderless ambition: 55% of Americans want to vacation on U.S. beaches and 40% favor lakes, yet 1 in 5 crave the Caribbean and nearly as many dream of Italy, destinations that mirror Pacaso's expansion pipeline.
  
  
• Maintenance fatigue: 46% cite upkeep as a top deterrent to purchasing a second home, highlighting demand for turnkey service.

Financing remains one of the biggest blockers in traditional vacation home ownership. One-third of survey respondents say that difficulty securing financing is a top barrier to buying. Second-home loans continue to carry federal fees worth up to four points, and many buyers lack access to innovative or flexible financing options. Among those open to co-ownership, 74% of respondents say flexible financing would be a key factor in their decision to proceed.

Global demand is fueling Pacaso's next phase of expansion. Survey findings show strong interest in international second-home destinations, aligning with demand trends Pacaso is seeing across its portfolio. The company will unveil its future growth plans, including expansion strategy and platform developments, during a live broadcast from the New York Stock Exchange on August 26.

To learn more or participate in Pacaso's current growth round, visit www.pacaso.com/invest.

Methodology
This survey was commissioned by Pacaso and conducted by Pollfish in July 2025. The survey was initially fielded to a broad sample of 500 U.S. adults, followed by an additional 250 responses collected from individuals earning $150,000 or more annually to strengthen representation of higher-income households. Results carry a ±3.6% (percentage points) margin of error at the 95 % confidence level. The study was designed to measure public interest and sentiment around second-home ownership, affordability, co-ownership and perceived barriers.

About Pacaso
Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso® is a technology-enabled marketplace that modernizes real estate co-ownership, enabling families to effortlessly own a luxury vacation home and travel with confidence. Pacaso curates private residences in premier destinations across the U.S. and internationally, with exceptional amenities, luxury interiors and expert design. After purchase, Pacaso professionally manages the home, provides white-glove scheduling and personalized service, and ensures seamless resale.

The company is backed by premier investors including Fifth Wall, Greycroft, Maveron and Howard Schultz.

Certain statements in this release may constitute "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Pacaso's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "strive," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Readers are cautioned not to put undue reliance on forward-looking statements, and Pacaso assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Pacaso does not give any assurance that it will achieve its expectations.

AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT IS AVAILABLE HERE.

SOURCE Pacaso