A modest, two-bedroom apartment costs $1,099, according to the annual Out of Reach report from the National Low-Income Housing Coalition. In order to afford this level of rent and utilities — without paying more than 30% of income on housing — a household must earn an hourly “housing wage” of $21.13—far more than Vermont’s minimum wage of $9.60 or the average wage among the state’s renters ($11.79).

“I want more...” explains VHFA’s Director of Policy and Administration Maura Collins in a recent letter to the editor of the Essex Reporter. Collins is a long-time resident of Essex Junction who felt it was time to share her ideas about future expansion of the Junction’s housing stock and population.

“We see beauty in the new faces, appreciate the increasing diversity of housing types and residents, and want to champion thoughtful growth…. We want more...” writes Collins.

As the fog lifted over a brilliant Lake Champlain, eight VHFA-ers raced to the finish line Saturday morning at the Colchester Causeway 5k & 15k Race. Joe Erdelyi, Brittany Garland and Sara Everest showed their endurance with flying colors in the 15k race, while the rest of us happily reached our 5k goals. Saturday’s race capped a multi-month C25K (“couch to 5k”) agency wellness initiative organized by Office Manager Lori Gilding earlier this spring.  Marathoner Robin Howe from VHFA's Development and Multifamily Management departments handed out much-appreciated cups of water along the route.

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June is a terrific time to reflect on the importance of homeownership in this country, especially in Vermont where residents are more likely than in most states to own their homes. VHFA is working with local lenders across the state to extend the opportunity to own a home to even more Vermonters through low interest loans from a trusted non-profit source.

First-time home buyer Dorothy Pfende told us that what she likes most about the home she recently purchased with a VHFA mortgage is the freedom and feeling of achievement. Moving to the U.S. five years earlier, Dorothy is proud of how quickly she was able to reach her goal of homeownership. "If you aim high, the sky is the limit" she remarked.