Last week, the Vermont Housing Finance Agency (VHFA) Board of Commissioners awarded Vermont State Affordable Housing Tax Credits for homeownership development projects across the state. Once sold to investors, the credits will yield nearly $3 million in equity for downpayment assistance for newly constructed or substantially rehabilitated single-family homes as well as energy-efficient manufactured homes. Additionally, Commissioners awarded more than $8.5 million as part of the Missing Middle-Income Homeownership Development Program, which will create 180 homes across the state. Combined, these investments will support the construction or substantial rehabilitation of at least 254 homes. 

The median sales price of primary homes sold in Vermont continued increasing in the first half of 2023, reaching a median value of $315,000 for homes sold during that period, according to recent Vermont Property Transfer Tax (PTT) records. This continues a trend in which no county in Vermont has seen a decline in annual median home sale price during the period from 2019-2022.

On Wednesday, Governor Phil Scott and Treasurer Mike Pieciak announced a $55.5 million investment in housing, as part of the “10% in Vermont” local investment program.

VHFA will administer $50 million of these funds to construct or rehabilitate an estimated 1,000 homes over the next 2-3 years. The program will support the construction or rehabilitation of traditional affordable housing, market rate apartments, homeownership as well as housing for individuals experiencing homelessness. Additionally, reserves will be made available for households and housing impacted by this summer’s flooding.

The Vermont Zoning Atlas team is seeking volunteers to help complete its build-out across the state. This is an exciting opportunity to join a national data standardization project, be part of a grassroots team and be among the first researchers to work with raw zoning data across Vermont. The project started this summer by focusing on Chittenden County towns.