Nationally, housing stock has fallen to one-third of what it was in the 1980s. Vermont is not immune to this downward trend. Vermont’s current year-round housing supply falls short of meeting the needs of Vermonters: Vermont has the fourth-lowest rental vacancy rate in the U.S. at 3.4%, and a .06% homeowner vacancy rate (US Census 2025)
In Addison County, affordability remains a serious concern. Fair Market Rent (FMR) for a two-bedroom apartment increased by 33% from 2021 to 2025, with the current FMR being $1,410/month (rentdata.org). Working at minimum wage, $14.42/hour, a person would have to work 68 hours/week to afford a modest two-bedroom rental home at FMR.
In 2024, the statewide median sale price for a primary home was about $353,000 — a 9% jump from the prior year. Preliminary data for the first half of 2025 show that prices have continued to escalate. Households paying more than 30% of their annual income towards housing costs are considered cost-burdened. In Addison County, 24% of owner-occupied households are cost-burdened.
Since 2020, demand to live in Vermont has increased while the supply of new homes has not kept pace. To accommodate demand to live in the county and meet other housing market needs such as normalizing the vacancy rate, Addison County is likely to need a projected 1,171-1,799 additional homes between 2025 and 2029.
An estimated 500-600 units are lost from Vermont's housing stock each year to deconstruction (disrepair, deferred maintenance, etc.).
Data drawn from the Vermont Housing and Finance Agency (VHFA)’s Vermont Housing Needs Assessment 2025-2029.
