Vermont Residential Rent and Rental Statistics
The median monthly gross residential rent in Vermont was $980 in 2019 according to the Census ACS survey.1 Average gross rent was $1,007 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Vermont median and average rent data will be released in September of 2021.
Data is also available below for Vermont rental vacancy rates, Vermont rent as a percent of median income and the fraction of renters in Vermont.
Real Gross Rent in Vermont (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Vermont Median Gross Rent | $980 | -0.71% | +1.14% |
Vermont Real Gross Rent Trends
Median gross rent for Vermont peaked in real terms in 2018 at $987 and is now $7 (0.71%) lower. At $1,007, real average gross rent in Vermont was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Vermont: Median, Average, US Median
Real Gross Rent History for Vermont
| Date | US Median | Vermont Median | Vermont Average |
|---|---|---|---|
| 2019 | $1,097 | $980 | $1,007 |
| 2018 | $1,077 | $987 | $984 |
| 2017 | $1,043 | $980 | $989 |
| 2016 | $1,027 | $969 | $958 |
| 2015 | $1,017 | $979 | $957 |
| 2014 | $986 | $968 | $980 |
| 2013 | $953 | $911 | $896 |
| 2012 | $940 | $915 | $913 |
| 2011 | $941 | $917 | $916 |
| 2010 | $955 | $920 | $905 |
| 2009 | $960 | $945 | $921 |
| 2007 | $927 | $888 | $887 |
| 2005 | $910 | $854 | $834 |
Vermont Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Vermont was 4.48% according to Census ACS data.
Rental Vacancy Rate in Vermont
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Vermont | 4.48% | -0.60% | +0.69% |
Trends in Vermont Rental Vacancy Rate
The rental vacancy rate in Vermont peaked in 2009 at 7.79%. Since then it has fallen by 3.31% to 4.48%. Data records for this series originated in 2005. From a 2017 post peak low of 3.76%, the rental vacancy rate has increased by 0.72%.
Rental Vacancy Rate: Vermont, US
Historical Rental Vacancy Rate data for Vermont
| Date | US | Vermont |
|---|---|---|
| 2019 | 5.97% | 4.48% |
| 2018 | 6.15% | 5.08% |
| 2017 | 6.18% | 3.76% |
| 2016 | 5.89% | 3.79% |
| 2015 | 5.85% | 4.06% |
| 2014 | 6.32% | 4.15% |
| 2013 | 6.49% | 4.87% |
| 2012 | 6.77% | 4.32% |
| 2011 | 7.40% | 4.17% |
| 2010 | 8.17% | 7.30% |
| 2009 | 8.43% | 7.79% |
| 2007 | 7.87% | 4.75% |
| 2005 | 7.74% | 6.08% |
Vermont Rent as a Fraction of Income
Using median household income data for Vermont, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Vermont, median monthly gross rent as a fraction of median household income was 18.67% in 2019 according to the ACS.
Vermont Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Vermont | 18.67% | -0.46% | -0.58% |
Trends in Vermont Rent as a Fraction of Income
The fraction of median Vermont household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 20.32%. Since then it has fallen by 1.65% to 18.67%.
Fraction of Income towards Rent: Vermont, US
Historical Data for Annual Rent as a Fraction of Income in Vermont
| Date | US | Vermont |
|---|---|---|
| 2019 | 20.03% | 18.67% |
| 2018 | 20.50% | 19.13% |
| 2017 | 20.13% | 19.82% |
| 2016 | 20.43% | 19.25% |
| 2015 | 20.63% | 19.43% |
| 2014 | 20.89% | 20.32% |
| 2013 | 20.78% | 19.74% |
| 2012 | 20.65% | 19.48% |
| 2011 | 20.70% | 19.30% |
| 2010 | 20.50% | 19.99% |
| 2009 | 20.12% | 19.27% |
| 2007 | 18.66% | 18.18% |
| 2005 | 18.89% | 17.94% |
Renter Fraction in Vermont
You can calculate the renter fraction in Vermont in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Vermont as a fraction of total Vermont households. In 2019 29.12% of households were renters according to Census ACS data.
Vermont Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Vermont | 29.12% | +1.35% | -1.12% |
Trends in the Vermont Renter Fraction
The Vermont household renter fraction peaked in in 2017 at 30.48% and is now 1.36% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Vermont, US
History of Vermont Renter Fraction
| Date | US | Vermont |
|---|---|---|
| 2019 | 35.89% | 29.12% |
| 2018 | 36.05% | 27.77% |
| 2017 | 36.13% | 30.48% |
| 2016 | 36.88% | 30.24% |
| 2015 | 36.97% | 29.29% |
| 2014 | 36.90% | 29.95% |
| 2013 | 36.50% | 29.00% |
| 2012 | 36.09% | 28.99% |
| 2011 | 35.42% | 28.72% |
| 2010 | 34.65% | 29.61% |
| 2009 | 34.13% | 28.72% |
| 2007 | 32.80% | 27.18% |
| 2005 | 33.10% | 28.92% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
