Over $11 million of a $50 million program to pay overdue housing costs for homeowners impacted by the pandemic has been disbursed within the first six months of the program. The Vermont Housing Finance Agency (VHFA) launched the Homeowner Assistance Program (HAP) in January 2022 with funding from the federal American Rescue Plan Act. It provides grants of up to $30,000 for income-eligible homeowners. 

VHFA has released its first annual report for the Vermont Housing Investment Fund (VHIF). VHFA established the fund in 2020 in recognition of a growing need for more flexible financing opportunities for affordable housing development. VHIF investments are intended to fill gaps in project budgets, allowing worthwhile housing projects to move forward despite complex and changing development conditions. 

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. The median single family non-vacation home sold for $300,000, the median condominium sold for $286,250 and the median manufactured home sold for $130,000. 

A report by the Urban Institute published in April of this year shows new research on how affordable housing units impact property values on nearby residences. Although a common argument used to oppose affordable housing is the fear that it could lower property values, data from this report shows that this is not true. In fact, affordable housing developments can actually raise property values for nearby homes.