Residents of Parkview Apartments in Newport celebrated energy-efficient improvements to their apartment complex at a ribbon-cutting ceremony held last week. The $3.1 million project was overseen by RuralEdge, which owns the twelve affordable units. The project was supported by Vermont Housing Finance Agency (VHFA), which awarded state and federal tax credits as well as a construction loan.

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.

Residents of Heritage Courts in Poultney are celebrating the recent renovation of their apartment complex. The $3.1 million project was managed by the Housing Trust of Rutland County, which owns the property. The project was funded in large part by VHFA, which awarded both state and federal tax credits as well as loans. This renovation allows Housing Trust of Rutland County to preserve 17 affordable apartments for seniors while significantly improving the energy-efficiency of the complex.

The latest edition of the annual report on rental housing affordability from the National Low Income Housing Coalition and the Vermont Affordable Housing Coalition has found that Vermont has one of the highest gaps in the nation between the cost of rent and renter wages.