Economy

This press release from the Vermont Futures Project shares their new white paper on housing challenges and solutions in Vermont. VHFA assisted with research on the project.

This commentary appeared in several news outlets as part of the Vermont Proposition Initiative with the Vermont Council on Rural Development.

As a white kid from suburbia growing up in the ‘80s, I thought everyone was in the middle.

With difficulties mounting for home builders across the country, Vermont’s new home prices have started increasing at a faster pace. After several years of minimal growth, the median new primary home sold for $388,000 in Vermont in 2020, up $22,000 from the prior year, according to Multiple Listing Service (MLS) data.

Today is International Women's Day, an opportunity to celebrate the many achievements of women while also calling for more progress towards gender equality. 

The median price of a non-vacation home in Vermont rose to $244,000, according to Vermont property transfer tax records for homes sold through September 30, 2020. While the 7% increase from 2019 may reflect increased demand from the pandemic’s “race for space,” Vermont is no stranger to rising home prices which have increased steadily since 2014.

November 6, 2020 will be the last day for Vermont homeowners behind on their mortgage payments due to COVID to submit applications for mortgage assistance grants.  Funded by the federal CARES Act, Vermont Mortgage Assistance grants for up to 6 months of missed payments are available to any homeowner who meets eligibility criteria, even if they have already arranged a forbearance agreement. 

When Kimberly Edgar was unable to work due to COVID-19, the new Mortgage Assistance Program offered her a path for keeping her home in Brattleboro. Funded by the federal CARES Act, the program provides qualified Vermont homeowners with grants for up to six months of overdue mortgage and property tax payments.

The Local Solutions and Community Action Team of the Vermont Governor’s Economic Mitigation and Recovery Task Force created a tool for municipalities and local leaders looking to expand the vibrancy of their communities.

Until the recent COVID-19 restrictions, the number of Vermont homes used as short-term rentals has ticked up each year, according to a recent analysis by Vermont Housing Finance Agency. In a typical month last year, about 8,000 homes were listed as short-term rentals across the state.

Earlier this week, the Local Support and Community Action Team released its interim report with recommendations on how Vermont can begin its recovery from the coronavirus pandemic.