Earlier this year VHFA projected a need for 30,000-40,000 more homes by 2030. These projections are based on data from the U.S.
New data shows unprecedented jump in Vermont median home price
The median price of a Vermont home jumped to $310,000 in 2022, an historic 15% increase from the prior year. This is the largest annual percentage increase in the median sales price of primary homes since 1988 when the Vermont Department of Taxes began publishing home sales data.
30,000 to 40,000 more Vermont homes needed by 2030
To meet expected demand and normalize extremely low vacancy rates, Vermont will need 30,000-40,000 more year-round homes by 2030. This means adding 5,000 to 6,700 more homes to Vermont's primary home market each year, well above the 2,100 homes that the state has been generating.
Did Vermont's population jump in 2020?
According to the Census Bureau's 2020 count, 17,336 more people and 15,448 more households considered Vermont their primary home than in 2010, despite earlier predictions of near zero growth in the statewide tally.
Rising interest rates and prices decrease home affordability
Increasing mortgage interest rates and home prices have rapidly made it much more difficult for Vermonters to purchase their first homes. About half as many renters can afford to purchase their first home in 2022 compared to 2021, based on VHFA’s recent analysis of sales price and interest rate trends.
Vermont home prices continue to increase despite predictions of cooling market
The median Vermont primary home sold for $295,000 throughout the first six months of 2022, compared to $270,000 throughout 2021, a 9.3 percent increase for the first half of the year.
New data shows how Vermont towns balance jobs and homes
Towns with sufficient homes to house the employees that work there are more likely to make inroads against climate change and the housing affordability crisis. According to data published this week by the Vermont Housing Data website, the top Vermont town with over 10,000 workplaces to strike this balance is Essex. For every 100 homes in Essex, the town has 112 jobs.
Understanding Vermont’s vacant homes
A recent article in the New York Times suggested that Vermont is ranked first in the nation in vacant homes. This may be surprising to many Vermonters, given the state’s extremely tight housing market.
Report shows renters face continued challenges post-pandemic
This article was written by VHFA Spring Housing Fellow Christina Cramer
Vermont home prices increase 19% during pandemic
The median Vermont non-vacation home sold for $270,000 in 2021, a 10.2% increase from the prior year, and a 19% overall increase from prices in 2019, before the pandemic. This is the largest home price increase seen since 2005.