VHFA News

VHFA is proud to recognize staff who participated in the Employee Volunteer Program (EVP) in 2018.

As part of our mission to finance and promote affordable, safe, and decent housing opportunities, VHFA encourages its employees to lend their voluntary support to programs that positively impact the quality of life within our communities. The Employee Volunteer Program allows all regular VHFA employees one additional day of paid Combined Time Off each calendar year to volunteer in a community program.

VHFA staff member Erin Philbrick wrote, “My sons Aiden, Quinn and I went to volunteer at the Franklin County Animal Rescue (FCAR). We helped with all the routine chores of caring for the sheltered cats – feeding, cleaning cages, doing laundry and socializing with them.  Of course we all enjoyed the socializing part the most, but it also felt good to give our time to help make their time in temporary shelter more bearable.”

Ten VHFA staff volunteered a total of 64 hours in 2018, a value of over $2,700. Participation in the program has increased steadily over the past three years.

Below are some of the organizations where VHFA staff have volunteered:

Pathways Vermont

Mount Mansfield Universalist Unitarian Fellowship

American Red Cross

Shelburne Charlotte Hinesburg Interfaith Projects

US Maher Friends

LUND Kids A Part

Franklin County Animal Rescue

Dragonheart Vermont

Youth Services Opportunities Project

America’s housing stock was primarily built for nuclear families, yet fewer and fewer households fit into that category, according to Making Room: Housing for a Changing America, a new report from AARP. The report argues that communities need to create housing that is more affordable and accessible for single-person, senior, and multi-generational households.    

Today, nuclear families (two parents and their children) account for just 20 percent of U.S. households. The largest group demographic is single adults who live alone, which at 28 percent, outnumbers nuclear and single-parent families combined. However, America’s housing stock does not reflect the composition of its households. More than 80 percent of the nation’s apartments and houses are built with two, three or four bedrooms, and there are more than twice as many two-bedroom apartments as there are studios and one-bedrooms combined.

This trend is even more pronounced in Vermont, where 30% of households are one-person, yet only 15% of the housing stock is made up of studio or one bedroom apartments or homes, according to 2017 Census Bureau estimates. Increased investment in smaller homes and apartments, which cost less to build, would likely result in more affordable housing choices. Housing is currently unaffordable across most areas of the state. To be able to afford the 2018 median home price of $217,500, a household would need to earn at least $68,635. However, the median household income for Vermonters is just $57,513. Meanwhile, a one bedroom apartment at market rate is not affordable for a worker earning minimum wage in any Vermont county.

The AARP report suggests that overly restrictive zoning laws are responsible for much of the imbalance in the housing stock. Large minimum unit and lot sizes, excessive parking requirements, and expensive permitting processes increase the cost of development, making it difficult for developers to turn a profit on smaller, less expensive houses and apartments.

The report also notes that America’s population of older adults is growing rapidly. By 2030, more than 1 in 5 people in the United States will be age 65 or older. In Vermont, households led by someone age 65 to 74 are the fastest growing demographic group. An AARP survey found that the large majority of older Americans would like to remain in their current homes and communities as long as possible, but most homes in the United States are not designed for aging in place. The report advocates designing more accessible structures, and for communities to promote multigenerational living and home-sharing.