VHFA and the Vermont League of Cities and Towns recently published a checklist of options for using local recovery funds provided through the American Rescue Plan Act (ARPA) to promote recovery from the pandemic through investments in housing and neighborhoods. By providing more safe, affordable housing, communities can address inequities, promote health and spur broader economic benefits. The checklist joins the many resources available to communities in the Vermont Housing-Ready toolbox.

The Vermont Housing & Conservation Board updated and re-issued a Request for Proposals (RFP) last week regarding the design and launch of a statewide initiative to address racial justice and equity in housing. The initiative will be guided by a steering committee comprised of representatives from NeighborWorks Alliance of Vermont, NeighborWorks America, VHFA, and other to-be-identified stakeholders. The goal of the initiative is to examine how racial inequities impact Black, Indigenous, and People of Color living in Vermont and identify actions, on both policy and programmatic levels, which expand access to affordable housing for all Vermonters.

We know that housing development in Vermont has slowed in recent decades and this—combined with population growth, a decrease in household size, and wage stagnation—has led to the cost of buying and renting inching more and more out of reach for over one third of Vermonters. Though the solution will necessitate action from many sources, including federal and state government, municipalities can play a vital role in encouraging development and combating unaffordability. 

The median Vermont primary home sold for $259,900 during the first six months of 2021, compared to $245,000 throughout 2020, a six percent increase. This aligns with the 6.9% price increase seen between 2019 and 2020, suggesting that the state is on track for significant but steady growth in home sale prices.