By purchasing $125,000 in Vermont Housing Tax Credits last Friday, Union Bank supplied the equity needed to help approximately 125 households buy their first homes in Vermont this coming year. These households will receive up to $5,000 to help cover their down payment and closing costs through a statewide program when they qualify for a Vermont Housing Finance Agency mortgage.
The median price of non-vacation Vermont homes sold during the first six months of 2016 was $200,000, virtually unchanged from 2015. Like prices, the number of sales also held steady compared to the first six months of 2015.
Over the past five years, Chittenden County is the only county in the state to experience consistently rising median home prices. The volume of 2016 sales in Chittenden County is below 2015 levels. However, neighboring Franklin County is experiencing higher sales volumes this year. Franklin County sales are up 20% in 2016 compared to the first six months of 2015.
Lack of affordable housing is the community challenge that survey respondents are most concerned about, according to the recently released 2016 Community Health Needs Assessment. Among survey respondents, 58.3 percent rated lack of affordable housing as the top concern, followed by 52.5 percent for drug and alcohol abuse.
Need an affordable apartment or know someone who does? There are vacancies in 7 different apartment complexes across the state, according to the Vermont Directory of Affordable Rental Housing.