By 2030, the Upper Valley region will need to triple the pace of home building and conversions to meet projected demand from existing and future residents, according to the collaborative Keys to the Valley initiative. About one-third of the region’s households are cost burdened by paying more than 30% of their income for their housing. With the region’s aging population and declining average household size, these trends suggest a path forward that preserves existing homes, encourages new homes, improves housing affordability and fosters diverse, smaller housing types.
Publications
2020 VHFA Annual Report recaps a year like no other
As the COVID-19 pandemic unfolded worldwide, VHFA focused on the shifting needs of Vermonters and stayed the course with long-standing tools and programs. In March, the agency swiftly found ways to support non-profit partners as well as to pivot to fully remote work. By December, it had designed and wrapped up a 6-month Vermont COVID Emergency Mortgage Assistance Program that successfully helped 638 homeowners to remain stably housed after COVID hardships caused them to miss mortgage payments.
Vermont Housing Needs Assessment reveals racial disparities
Research conducted by VHFA for the 2020-2025 Vermont Housing Needs Assessment reveals that Vermont’s non-White households fare worse than White households according to numerous economic and housing-related metrics. Much of the data from the report is available on VHFA’s regularly updated Vermont housing data site.
VHFA releases 2019 Annual Report
Vermont Housing Finance Agency (VHFA) has released its 2019 Annual Report. This year VHFA celebrated its 45th annniversary of financing and promoting affordable housing opportunities for low- and moderate-income Vermonters. Since it opened, the Agency has helped approximately 29,000 Vermont households with affordable mortgages and financed the development of approximately 8,800 affordable rental apartments.
New report finds more Vermont seniors receive rental housing assistance than younger counterparts
Roughly 9,000 Vermont senior households receive some form of financial rental help compared to 8,000 younger households, according to a report recently completed by VHFA on the distribution of rental subsidies by age group.
New reports show housing unaffordable for many Vermont workers
Two new reports show that rental housing in Vermont is unaffordable for many workers, not only for those earning minimum wage, but also for skilled middle-income workers.
Vermont lacks housing for extremely low income households
Nearly 90% of extremely low-income Vermont renters spend an unaffordable amount of their income on housing costs, according to the National Low Income Housing Coalition (NLIHC)’s recently released annual report The Gap: A Shortage of Affordable Homes. The report highlights a critical shortage in the availability of affordable housing across the country.
Housing vital to Vermont economy, but many millennials are left out of the market
Last week, VHFA Executive Director Maura Collins spoke on a housing panel at the Vermont Economic Conference in Burlington. She was joined by Jonathan Slason of Resource Systems Group, Inc. and moderator Leslee MacKenzie of Coldwell Banker Hickok & Boardman Realty.
VHFA releases 2018 Annual Report
2018 was another great year for Vermont Housing Finance Agency, continuing its commitment to financing and promoting affordable housing opportunities for low- and moderate-income Vermonters.
Homeownership rate increases, but first-time buyers face barriers
The annual report on housing from the Joint Center for Housing Studies of Harvard University (JCHS) reveals that although homeownership rates are beginning to climb, young adults are finding it increasingly difficult to afford to buy their first home. The report found that from 1990 to 2016 the median home price rose 41 percent faster than overall inflation, outpacing wage growth during the same period. Homeownership rates among young adults today are lower than they were before the recession. This report comes as VHFA and many in the lending, real estate, and housing communities recognize June as national Homeownership Month.