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Home Mortgage Rates in Vermont

Sleepy Hollow farm near Woodstock, Vermont.

Vermont Real Estate Prices vs. National Averages

Vermont real estate prices are slightly higher than the national average. Homes, in some instances, may cost more than comparable homes in other parts of the nation with equivalent square footage and more amenities.

Metropolitan Areas

VT Rank Rank Metropolitan Area 2016 Pop 2010 Pop Change % △
1 202 Burlington-South Burlington 217,365 211,261 6,104 2.89%
2 206 Claremont-Lebanon, NH-VT Micro Area 216,307 218,466 -2,159 -0.99%
3 532 Rutland 59,310 61,642 -2,332 -3.78%
4 535 Barre 58,504 59,534 -1,030 -1.73%
5 720 Berlin, NH-VT Micro Area 38,215 39,361 -1,146 -2.91%
6 752 Bennington 36,191 37,125 -934 -2.52%

Popular Cities in Vermont

Vermont is one of the smaller states by land mass in the United States. In fact, it is ranked 43rd in the United States. Not only is it one of the smallest by land mass, Vermont is second only to Wyoming as the least populated state in the country.

Vermont has a median income in the mid $48,000s and has a large population of college educated individuals. Most of its residents are employed in government, real estate and health care.

Maple syrup and wine are two of the great commodities produced in the area. Fourteen wineries are available in the area and a quarter of the country’s maple syrup is produced in Vermont.

In 2007, Vermont placed 17th in mortgage affordable. Although housing sales have declined, real estate prices have fared better than some other harder hit parts of the nation.

Burlington

Church Street in Downtown Burlington, Vermont.

Burlington is a popular city to purchase real estate, as it is the fastest growing city in Vermont. However, the area has only increased by approximately 370 households in the last 10 years. The area is home to approximately 40,000 individuals. While this is the most populated city in the state of Vermont, it is not the capital. The capital of Vermont is Montpelier, which is one of the least populated capital cities in America.

The real estate in Burlington is a mixture of country style homes and modern homes. The prices range from low $100s to $600K. Some have lake and garden views, contemporary features, such as granite counter tops, glass showers, tile inlays, and bamboo floors.

Rutland

Rutland is the second fastest growing city in Vermont and is home to approximately 16,800 residents. The growth in this area is in part due to the resort community. Many people come to Vermont to experience the Okemo Resort, Killington Mountain Ski Resort, and Quechee Gorge.

Real estate in Rutland ranges in price from the low $100s to $500K. The homes are mostly New England style country homes. Some feature modern amenities, but most are standard. Most of the homes on the market are older homes. Since the population is small, there are only approximately 40 recently added homes on the market and 400 in total. However, the city is still growing.

Barre

Many of the homes for sale were built before the 1950s; therefore, they are more traditional like the Victorian style homes. Many of the homes have more rooms than the average home buyer would receive in a more modern home for less money. Therefore, if the consumer enjoys the style of that era, this may be a great place to purchase a home.

The home prices range from the low $100s to $400K. In some instances, a potential home buyer can find a 5,500 square foot Victorian Style home with seven bedrooms and 4.5 baths for less than $200K. A home of this type is typically built in the late 1800s or early 1900s.

Montpelier

Aerial View of Montpelier.

The capital of Vermont is home to approximately 7,800 residents. Because of its small population, Montpelier has won the award for the smallest capital city within the United States. The New England Culinary Institute is located in Montpelier, as well as, galleries, theatres, and museums.

The median price of homes in Montpelier is $220,000, and the median sale price is approximately $247,000. Most of the homes are single family homes and a few are condos. There are not many homes on the market in Montpelier. However, consumers may still find a good buy.

Vermont Census Data

According to the United States Census an estimated 624,594 people live in the state of Vermont. The state has 9,216.66 mi² of land area, which gave it a population density of 67.77 per mi². Here is a list of cities, towns, villages & Census Designated Places across the state, with their estimated population as of June 2016 & the 2010 United States Census. For towns with fewer than 5,000 residents & Census Designated Places (CDP) where there was no population estimate available for 2016, the 2011-2015 American Community Survey 5-Year Estimates data was used.

All table columns are sortable. Click on the column headers to sort by that column. Click again to sort low to high. Cities with higher levels of population growth typically see the increased demand drive faster real estate price appreciation.

Rank Geography County 2016 Pop 2010 Pop Change % △ Land mi² Pop Den mi²
1 Burlington Chittenden 42,260 42,417 -157 -0.37% 10.31 4,098.93
2 Essex Chittenden 21,199 19587 1,612 8.23% 38.82 546.08
3 South Burlington Chittenden 18,971 17,904 1,067 5.96% 16.49 1,150.45
4 Colchester Chittenden 17,319 17067 252 1.48% 36.32 476.84
5 Rutland Rutland 15,601 16,495 -894 -5.42% 7.56 2,063.62
6 Bennington Bennington 15,290 15764 -474 -3.01% 42.25 361.89
7 Brattleboro Windham 11,607 12046 -439 -3.64% 31.83 364.66
8 Milton Chittenden 10,759 10352 407 3.93% 51.38 209.40
9 Essex Junction village Chittenden 10,412 9,271 1,141 12.31% 4.57 2,278.34
10 Hartford Windsor 9,671 9952 -281 -2.82% 45 214.91
11 Williston Chittenden 9,578 8698 880 10.12% 30.08 318.42
12 Springfield Windsor 9,044 9373 -329 -3.51% 49.02 184.50
Bennington CDP Bennington 8,865 9074 -209 -2.30% 4.8 1,846.88
13 Barre city Washington 8,710 9,052 -342 -3.78% 3.95 2,205.06
14 Middlebury Addison 8,654 8496 158 1.86% 38.83 222.87
15 Barre town Washington 7,792 7924 -132 -1.67% 30.56 254.97
16 Shelburne Chittenden 7,726 7144 582 8.15% 24.31 317.81
17 Montpelier Washington 7,535 7,855 -320 -4.07% 10.06 749.01
Brattleboro CDP Windham 7,259 7414 -155 -2.09% 4.18 1,736.60
18 St. Johnsbury Caledonia 7,250 7603 -353 -4.64% 36.39 199.23
19 Winooski Chittenden 7,128 7,267 -139 -1.91% 1.43 4,984.62
Middlebury CDP Addison 6,885 6588 297 4.51% 13.91 494.97
20 St. Albans city Franklin 6,792 6,918 -126 -1.82% 2.03 3,345.81
21 Swanton Franklin 6,514 6427 87 1.35% 48.03 135.62
22 St. Albans town Franklin 6,432 5999 433 7.22% 37.02 173.74
St. Johnsbury CDP Caledonia 6,122 6193 -71 -1.15% 12.85 476.42
23 Northfield town Washington 6,042 6207 -165 -2.66% 43.5 138.90
24 Lyndon Caledonia 5,830 5981 -151 -2.52% 39.46 147.74
25 Morristown Lamoille 5,440 5227 213 4.07% 51.15 106.35
26 Waterbury Washington 5,136 5064 72 1.42% 48.24 106.47
27 Rockingham Windham 5,062 5282 -220 -4.17% 41.43 122.18
28 Jericho Chittenden 5,053 5009 44 0.88% 35.39 142.78
29 Randolph Orange 4,781 4778 3 0.06% 48.04 99.52
30 Castleton Rutland 4,645 4717 -72 -1.53% 38.9 119.41
31 Georgia Franklin 4,641 4515 126 2.79% 39.33 118.00
32 Derby Orleans 4,529 4621 -92 -1.99% 49.12 92.20
33 Hinesburg Chittenden 4,472 4396 76 1.73% 39.43 113.42
34 Fairfax Franklin 4,455 4285 170 3.97% 39.85 111.79
35 Stowe Lamoille 4,407 4314 93 2.16% 72.6 60.70
36 Manchester town Bennington 4,339 4391 -52 -1.18% 42.13 102.99
37 Newport city Orleans 4,328 4,589 -261 -5.69% 5.83 742.37
38 Richmond Chittenden 4,115 4081 34 0.83% 32.23 127.68
39 Rutland Rutland 4,024 4054 -30 -0.74% 19.17 209.91
40 Bristol Addison 3,903 3894 9 0.23% 41.52 94.00
41 Brandon Rutland 3,890 3966 -76 -1.92% 39.92 97.44
42 Charlotte Chittenden 3,822 3754 68 1.81% 41.26 92.63
43 Cambridge town Lamoille 3,737 3659 78 2.13% 63.19 59.14
Springfield CDP Windsor 3,700 3979 -279 -7.01% 2.29 1,615.72
44 Highgate Franklin 3,581 3535 46 1.30% 50.73 70.59
45 Shaftsbury Bennington 3,535 3590 -55 -1.53% 43.09 82.04
46 Johnson town Lamoille 3,512 3446 66 1.92% 44.71 78.55
47 Windsor Windsor 3,496 3553 -57 -1.60% 19.47 179.56
48 Pownal Bennington 3,484 3527 -43 -1.22% 46.46 74.99
49 Norwich Windsor 3,393 3414 -21 -0.62% 44.46 76.32
50 Hartland Windsor 3,386 3393 -7 -0.21% 44.89 75.43
51 Williamstown Orange 3,385 3389 -4 -0.12% 40.25 84.10
52 Poultney Rutland 3,370 3432 -62 -1.81% 42.91 78.54
53 Westminster town Windham 3,127 3178 -51 -1.60% 45.84 68.22
54 Chester Windsor 3,110 3154 -44 -1.40% 55.68 55.85
55 Underhill Chittenden 3,061 3016 45 1.49% 51.33 59.63
56 Hyde Park town Lamoille 3,043 2954 89 3.01% 37.59 80.95
57 Bellows Falls village Windham 3,016 3,148 -132 -4.19% 1.37 2,201.46
58 Woodstock town Windsor 3,009 3048 -39 -1.28% 44.36 67.83
59 Hardwick Caledonia 2,949 3010 -61 -2.03% 38.62 76.36
60 Pittsford Rutland 2,921 2991 -70 -2.34% 43.33 67.41
61 Berlin Washington 2,850 2887 -37 -1.28% 36.27 78.58
62 Weathersfield Windsor 2,794 2825 -31 -1.10% 43.64 64.02
63 Ferrisburgh Addison 2,774 2775 -1 -0.04% 47.42 58.50
64 Bradford Orange 2,771 2797 -26 -0.93% 29.59 93.65
65 Royalton Windsor 2,767 2773 -6 -0.22% 40.36 68.56
66 Enosburg town Franklin 2,754 2781 -27 -0.97% 48.23 57.10
67 Barton town Orleans 2,726 2810 -84 -2.99% 43.25 63.03
68 Putney Windham 2,687 2702 -15 -0.56% 26.76 100.41
69 Fair Haven Rutland 2,671 2734 -63 -2.30% 17.44 153.15
70 East Montpelier Washington 2,610 2576 34 1.32% 31.87 81.90
71 Thetford Orange 2,599 2,588 11 0.43% 43.39 59.90
West Brattleboro CDP Windham 2,559 2740 -181 -6.61% 1.63 1,569.94
72 Clarendon Rutland 2,555 2571 -16 -0.62% 31.31 81.60
73 Sheldon Franklin 2,524 2190 334 15.25% 38.81 65.03
74 Arlington Bennington 2,453 2317 136 5.87% 42.24 58.07
75 West Rutland Rutland 2,399 2326 73 3.14% 17.93 133.80
76 Swanton village Franklin 2,380 2,386 -6 -0.25% 0.76 3,131.58
77 Richford Franklin 2,287 2308 -21 -0.91% 43.02 53.16
White River Junction CDP Windsor 2,267 2286 -19 -0.83% 1.65 1,373.94
Fair Haven CDP Rutland 2,238 2269 -31 -1.37% 2.74 816.79
Manchester Center CDP Bennington 2,238 2120 118 5.57% 4.52 495.13
Randolph CDP Orange 2,214 1974 240 12.16% 4.26 519.72
78 Grand Isle Grand Isle 2,210 2067 143 6.92% 16.42 134.59
79 Danville Caledonia 2,203 2196 7 0.32% 60.72 36.28
Windsor CDP Windsor 2,194 2066 128 6.20% 1.21 1,813.22
80 Dorset Bennington 2,172 2031 141 6.94% 47.75 45.49
81 Newbury town Orange 2,162 2216 -54 -2.44% 64.02 33.77
82 Ludlow Windsor 2,140 1963 177 9.02% 35.18 60.83
83 Guilford Windham 2,093 2121 -28 -1.32% 39.83 52.55
West Rutland CDP Rutland 2,075 2024 51 2.52% 3.68 563.86
84 Wallingford Rutland 2,069 2079 -10 -0.48% 42.99 48.13
85 Wilmington Windham 2,067 1876 191 10.18% 39.69 52.08
86 Northfield village Washington 2,057 2101 -44 -2.09% 1.37 1,501.46
87 Vernon Windham 2,055 2206 -151 -6.84% 19.45 105.66
88 Morrisville village Lamoille 2,050 1,958 92 4.70% 1.86 1,102.15
89 Monkton Addison 2,049 1980 69 3.48% 35.87 57.12
90 Bethel Windsor 2,015 2030 -15 -0.74% 45.18 44.60
91 Westford Chittenden 2,013 2029 -16 -0.79% 39.08 51.51
92 Alburg town Grand Isle 1998 1998 0 0.00% 29.14 68.57
93 Middlesex Washington 1,954 1731 223 12.88% 39.57 49.38
94 Dummerston Windham 1,939 1864 75 4.02% 30.59 63.39
Milton CDP Chittenden 1,926 1861 65 3.49% 1.4 1,375.71
95 Huntington Chittenden 1,875 1938 -63 -3.25% 37.94 49.42
96 Waterbury village Washington 1,835 1,763 72 4.08% 1.89 970.90
Bristol CDP Addison 1,831 2030 -199 -9.80% 2.13 859.62
97 Newfane town Windham 1,808 1726 82 4.75% 40.22 44.95
98 Newport town Orleans 1,773 1594 179 11.23% 41.65 42.57
99 Fairfield Franklin 1,764 1891 -127 -6.72% 67.4 26.17
100 Starksboro Addison 1,762 1777 -15 -0.84% 45.68 38.57
101 Berkshire Franklin 1,702 1692 10 0.59% 42 40.52
102 Waitsfield  Washington 1,701 1719 -18 -1.05% 26.72 63.66
103 Moretown Washington 1,682 1658 24 1.45% 39.89 42.17
104 New Haven Addison 1,677 1727 -50 -2.90% 41.18 40.72
105 Marshfield town Washington 1,650 1588 62 3.90% 43.01 38.36
106 Barnet Caledonia 1,632 1708 -76 -4.45% 42.25 38.63
107 North Bennington village Bennington 1,619 1,643 -24 -1.46% 1.86 870.43
Brandon CDP Rutland 1,617 1648 -31 -1.88% 2.84 569.37
108 Warren Washington 1,615 1705 -90 -5.28% 39.93 40.45
109 Proctor Rutland 1,614 1741 -127 -7.29% 7.43 217.23
110 Poultney village Rutland 1,608 1,612 -4 -0.25% 0.63 2,552.38
111 Wolcott Lamoille 1,597 1676 -79 -4.71% 38.79 41.17
112 Londonderry Windham 1,580 1769 -189 -10.68% 35.39 44.65
113 Burke Caledonia 1,570 1753 -183 -10.44% 33.9 46.31
Wilder CDP Windsor 1,562 1690 -128 -7.57% 0.81 1,928.40
114 Troy Orleans 1,544 1662 -118 -7.10% 35.74 43.20
115 South Hero Grand Isle 1,543 1631 -88 -5.40% 14.91 103.49
116 Waterford Caledonia 1,533 1280 253 19.77% 38.32 40.01
117 Calais Washington 1,532 1607 -75 -4.67% 37.95 40.37
118 Cavendish Windsor 1,504 1367 137 10.02% 39.47 38.10
119 Sharon Windsor 1,483 1502 -19 -1.26% 39.66 37.39
Hardwick CDP Caledonia 1,478 1345 133 9.89% 1.44 1,026.39
120 Johnson village Lamoille 1,462 1,443 19 1.32% 1.17 1,249.57
South Barre CDP Washington 1,457 1219 238 19.52% 1.96 743.37
121 Pawlet Rutland 1,414 1477 -63 -4.27% 42.69 33.12
122 Addison Addison 1,403 1371 32 2.33% 41.53 33.78
123 Eden Lamoille 1,392 1323 69 5.22% 63.3 21.99
124 Duxbury Washington 1,378 1337 41 3.07% 42.93 32.10
125 Lunenburg Essex 1,377 1302 75 5.76% 45.07 30.55
126 Cabot town Washington 1,376 1433 -57 -3.98% 37.26 36.93
127 Plainfield Washington 1,359 1243 116 9.33% 20.96 64.84
128 Danby Rutland 1,356 1311 45 3.43% 41.41 32.75
129 Bakersfield Franklin 1,353 1322 31 2.34% 44.52 30.39
Richford CDP Franklin 1,338 1361 -23 -1.69% 1.85 723.24
130 Dover Windham 1,337 1124 213 18.95% 35.24 37.94
131 Chelsea Orange 1,333 1238 95 7.67% 39.89 33.42
132 Franklin Franklin 1,329 1405 -76 -5.41% 38.37 34.64
133 Orwell Addison 1,310 1250 60 4.80% 47.18 27.77
134 Corinth Orange 1,308 1367 -59 -4.32% 48.44 27.00
135 Enosburg Falls village Franklin 1,299 1,329 -30 -2.26% 3.56 364.89
136 Whitingham Windham 1,299 1357 -58 -4.27% 36.54 35.55
Arlington CDP Bennington 1,287 1213 74 6.10% 3.68 349.73
137 Fletcher Franklin 1,279 1277 2 0.16% 37.73 33.90
138 Lincoln Addison 1,279 1271 8 0.63% 44.41 28.80
139 Brookfield Orange 1,272 1292 -20 -1.55% 40.79 31.18
140 Mount Holly Rutland 1,270 1237 33 2.67% 49.11 25.86
141 Irasburg Orleans 1,248 1163 85 7.31% 40.3 30.97
142 Bolton Chittenden 1,236 1182 54 4.57% 42.26 29.25
143 Fayston Washington 1,231 1353 -122 -9.02% 36.44 33.78
144 Leicester Addison 1,231 1100 131 11.91% 20.85 59.04
145 Concord Essex 1,223 1235 -12 -0.97% 51.33 23.83
146 Tunbridge Orange 1,213 1284 -71 -5.53% 44.56 27.22
147 Braintree Orange 1,212 1246 -34 -2.73% 38.29 31.65
148 Topsham Orange 1,209 1173 36 3.07% 48.9 24.72
149 Craftsbury Orleans 1,208 1206 2 0.17% 39.2 30.82
Castleton CDP Rutland 1,203 1485 -282 -18.99% 1.26 954.76
150 Bridport Addison 1,172 1218 -46 -3.78% 43.73 26.80
151 Lyndonville village Caledonia 1,172 1,207 -35 -2.90% 0.71 1,650.70
152 Shoreham Addison 1,170 1265 -95 -7.51% 43.44 26.93
153 Marlboro Windham 1,164 1078 86 7.98% 40.27 28.90
154 Chittenden Rutland 1,163 1258 -95 -7.55% 72.58 16.02
Williamstown CDP Orange 1,161 1162 -1 -0.09% 3.36 345.54
155 Montgomery Franklin 1,148 1201 -53 -4.41% 56.63 20.27
156 West Windsor Windsor 1,136 1099 37 3.37% 24.63 46.12
157 Salisbury Addison 1,121 1136 -15 -1.32% 28.88 38.82
158 Ryegate Caledonia 1,107 1174 -67 -5.71% 36.48 30.35
159 Strafford Orange 1,100 1098 2 0.18% 44.11 24.94
160 Washington Orange 1,097 1039 58 5.58% 38.81 28.27
161 Canaan Essex 1,085 972 113 11.63% 33.01 32.87
162 Fairlee Orange 1,081 977 104 10.64% 20.13 53.70
163 Coventry Orleans 1,079 1086 -7 -0.64% 26.59 40.58
164 Cornwall Addison 1,071 1185 -114 -9.62% 28.45 37.64
165 Benson Rutland 1,065 1056 9 0.85% 43.98 24.22
166 Woodstock village Windsor 1,064 900 164 18.22% 1 1,064.00
167 Shrewsbury Rutland 1,063 1056 7 0.66% 49.96 21.28
Norwich CDP Windsor 1,058 878 180 20.50% 1.45 729.66
168 Rochester Windsor 1,052 1139 -87 -7.64% 57.07 18.43
169 Charleston Orleans 1,045 1023 22 2.15% 37.39 27.95
170 Glover Orleans 1,040 1122 -82 -7.31% 37.62 27.64
171 Wells Rutland 1,039 1150 -111 -9.65% 22.11 46.99
172 Groton Caledonia 1,026 1022 4 0.39% 53.76 19.08
173 Townshend Windham 1,022 1232 -210 -17.05% 42.22 24.21
174 Sutton Caledonia 1,004 1029 -25 -2.43% 38.18 26.30
175 Orange Orange 1,002 1072 -70 -6.53% 38.73 25.87
176 Brownington Orleans 1,000 988 12 1.21% 28.19 35.47
177 Walden Caledonia 999 935 64 6.84% 38.59 25.89
East Barre CDP Washington 996 826 170 20.58% 2.67 373.03
178 Sunderland Bennington 985 956 29 3.03% 45.34 21.72
179 Brighton Essex 973 1222 -249 -20.38% 51.86 18.76
Hinesburg CDP Chittenden 963 658 305 46.35% 0.7 1,375.71
180 Pomfret Windsor 962 904 58 6.42% 39.39 24.42
181 Elmore Lamoille 956 855 101 11.81% 39.03 24.49
182 Mendon Rutland 934 1059 -125 -11.80% 38.06 24.54
183 Jamaica Windham 914 1035 -121 -11.69% 48.93 18.68
184 North Hero Grand Isle 909 803 106 13.20% 13.45 67.58
Bradford CDP Orange 895 788 107 13.58% 0.54 1,657.41
185 Albany Orleans 882 941 -59 -6.27% 38.24 23.06
186 Stamford Bennington 878 824 54 6.55% 39.5 22.23
187 Woodbury Washington 863 906 -43 -4.75% 37.51 23.01
188 Wardsboro Windham 861 900 -39 -4.33% 29.2 29.49
189 Worcester Washington 857 998 -141 -14.13% 38.66 22.17
190 Weybridge Addison 851 833 18 2.16% 17.14 49.65
191 Bridgewater Windsor 843 936 -93 -9.94% 49.41 17.06
192 Jay Orleans 806 521 285 54.70% 33.92 23.76
193 Lowell Orleans 801 879 -78 -8.87% 56 14.30
194 Killington Rutland 781 811 -30 -3.70% 46.58 16.77
Chester CDP Windsor 775 1005 -230 -22.89% 1.26 615.08
195 Halifax Windham 772 728 44 6.04% 39.71 19.44
196 Greensboro Orleans 769 762 7 0.92% 37.64 20.43
197 Jeffersonville village Lamoille 765 729 36 4.94% 0.78 980.77
198 St. George Chittenden 764 674 90 13.35% 3.56 214.61
199 Readsboro Bennington 763 763 0 0.00% 36.33 21.00
200 Middletown Springs Rutland 759 745 14 1.88% 22.3 34.04
201 Roxbury Washington 757 691 66 9.55% 41.98 18.03
202 Peacham Caledonia 751 732 19 2.60% 46.64 16.10
203 Orleans village Orleans 749 818 -69 -8.44% 0.91 823.08
204 Barnard Windsor 745 947 -202 -21.33% 48.65 15.31
205 Manchester village  Bennington 737 749 -12 -1.60% 3.54 208.19
South Royalton CDP Windsor 727 694 33 4.76% 1.11 654.95
206 Panton Addison 723 677 46 6.79% 15.51 46.62
Wallingford CDP Rutland 717 830 -113 -13.61% 1.66 431.93
207 Vershire Orange 709 730 -21 -2.88% 36.49 19.43
208 Reading Windsor 708 666 42 6.31% 41.47 17.07
Island Pond CDP Essex 701 821 -120 -14.62% 4.17 168.11
Shelburne CDP Chittenden 690 592 98 16.55% 0.63 1,095.24
209 West Fairlee Orange 688 652 36 5.52% 22.59 30.46
210 Barton village Orleans 673 737 -64 -8.68% 1.18 570.34
211 Grafton Windham 669 679 -10 -1.47% 38.27 17.48
212 Holland Orleans 668 629 39 6.20% 37.34 17.89
Bethel CDP Windsor 649 569 80 14.06% 1.6 405.63
213 Brookline Windham 646 530 116 21.89% 12.83 50.35
214 Stockbridge Windsor 646 736 -90 -12.23% 45.89 14.08
Quechee CDP Windsor 645 656 -11 -1.68% 1.85 348.65
215 Hubbardton Rutland 644 706 -62 -8.78% 27.46 23.45
216 Sheffield Caledonia 641 703 -62 -8.82% 32.52 19.71
Richmond CDP Chittenden 630 723 -93 -12.86% 0.89 707.87
217 Derby Line village Orleans 629 673 -44 -6.54% 0.72 873.61
218 Ripton Addison 619 588 31 5.27% 49.69 12.46
219 Rupert Bennington 595 714 -119 -16.67% 44.57 13.35
Graniteville CDP Washington 595 784 -189 -24.11% 1.7 350.00
220 Pittsfield Rutland 589 546 43 7.88% 20.39 28.89
221 Isle La Motte Grand Isle 577 471 106 22.51% 7.88 73.22
222 North Troy village Orleans 573 620 -47 -7.58% 1.87 306.42
223 Weston Windsor 571 566 5 0.88% 34.97 16.33
224 Derby Center village Orleans 559 597 -38 -6.37% 1.39 402.16
225 Westfield Orleans 554 536 18 3.36% 40.09 13.82
226 Andover Windsor 550 467 83 17.77% 28.72 19.15
North Springfield CDP Windsor 549 573 -24 -4.19% 1.1 499.09
227 Saxtons River village Windham 545 565 -20 -3.54% 0.47 1,159.57
South Shaftsbury CDP Bennington 540 683 -143 -20.94% 2.24 241.07
Pittsford CDP Rutland 539 740 -201 -27.16% 1.8 299.44
228 Tinmouth Rutland 538 613 -75 -12.23% 28.55 18.84
229 Winhall Bennington 537 769 -232 -30.17% 43.54 12.33
230 Sudbury Rutland 519 560 -41 -7.32% 21.47 24.17
Proctorsville CDP Windsor 510 454 56 12.33% 2.87 177.70
231 Newark Caledonia 505 581 -76 -13.08% 36.75 13.74
232 Alburg village Grand Isle 500 497 3 0.60% 0.64 781.25
233 Hyde Park village Lamoille 494 462 32 6.93% 1.16 425.86
234 Sandgate Bennington 481 405 76 18.77% 42.14 11.41
235 Plymouth Windsor 462 619 -157 -25.36% 48.12 9.60
236 Ira Rutland 448 432 16 3.70% 22.78 19.67
237 Kirby Caledonia 442 493 -51 -10.34% 24.37 18.14
Wilmington CDP Windham 442 463 -21 -4.54% 1 442.00
238 Waltham Addison 441 486 -45 -9.26% 8.94 49.33
Stowe CDP Lamoille 434 495 -61 -12.32% 0.77 563.64
Websterville CDP Washington 432 550 -118 -21.45% 1.66 260.24
Groton CDP Caledonia 432 437 -5 -1.14% 2.05 210.73
Putney CDP Windham 395 523 -128 -24.47% 1.43 276.22
Hartland CDP Windsor 395 380 15 3.95% 1.09 362.39
Ascutney CDP Windsor 393 540 -147 -27.22% 1.64 239.63
239 Wells River village Orange 389 399 -10 -2.51% 1.88 206.91
240 Athens Windham 378 442 -64 -14.48% 13.04 28.99
241 Whiting Addison 375 419 -44 -10.50% 13.58 27.61
242 Hancock Addison 365 323 42 13.00% 38.02 9.60
243 Westmore Orleans 361 350 11 3.14% 34.26 10.54
244 Windham Windham 359 419 -60 -14.32% 26.01 13.80
245 Newbury village Orange 357 365 -8 -2.19% 4.96 71.98
Wells CDP Rutland 354 397 -43 -10.83% 0.79 448.10
246 Belvidere Lamoille 342 348 -6 -1.72% 32.09 10.66
247 Woodford Bennington 340 424 -84 -19.81% 47.42 7.17
248 Peru Bennington 335 375 -40 -10.67% 37.22 9.00
249 West Burke village Caledonia 334 343 -9 -2.62% 0.47 710.64
Danville CDP Caledonia 326 383 -57 -14.88% 1.02 319.61
Canaan CDP Essex 322 392 -70 -17.86% 1.58 203.80
Dorset CDP Bennington 311 249 62 24.90% 1.22 254.92
Benson CDP Rutland 309 308 1 0.32% 3.87 79.84
Rochester CDP Windsor 304 299 5 1.67% 0.63 482.54
Fairlee CDP Orange 294 189 105 55.56% 0.58 506.90
250 Baltimore Windsor 292 244 48 19.67% 4.65 62.80
Glover CDP Orleans 292 303 -11 -3.63% 1.75 166.86
251 Granville Addison 290 298 -8 -2.68% 51.41 5.64
Newport Center CDP Orleans 288 274 14 5.11% 0.19 1,515.79
252 Mount Tabor Rutland 284 255 29 11.37% 43.67 6.50
253 East Haven Essex 282 290 -8 -2.76% 37.36 7.55
East Middlebury CDP Addison 279 425 -146 -34.35% 0.71 392.96
254 Westminster village Windham 278 291 -13 -4.47% 1.34 207.46
Plainfield CDP Washington 278 401 -123 -30.67% 0.23 1,208.70
Concord CDP Essex 277 271 6 2.21% 1.1 251.82
255 Stannard Caledonia 276 216 60 27.78% 12.43 22.20
256 West Haven Rutland 276 264 12 4.55% 27.83 9.92
Readsboro CDP Bennington 272 321 -49 -15.26% 1.23 221.14
257 Marshfield village Washington 261 273 -12 -4.40% 0.26 1,003.85
258 Cambridge village Lamoille 242 236 6 2.54% 1.24 195.16
Cavendish CDP Windsor 240 179 61 34.08% 0.65 369.23
259 Cabot village Washington 233 233 0 0.00% 1.13 206.19
Greensboro Bend CDP Orleans 232 232 0 0.00% 2.21 104.98
260 Stratton Windham 224 216 8 3.70% 46.09 4.86
261 Bloomfield Essex 222 221 1 0.45% 40.3 5.51
262 Guildhall Essex 216 261 -45 -17.24% 32.78 6.59
263 Jacksonville village Windham 216 223 -7 -3.14% 1.14 189.47
264 Maidstone Essex 213 208 5 2.40% 30.56 6.97
Waitsfield CDP Washington 192 164 28 17.07% 0.38 505.26
Barnet CDP Caledonia 187 129 58 44.96% 0.62 301.61
265 Albany village Orleans 184 193 -9 -4.66% 1.54 119.48
North Hartland CDP Windsor 172 302 -130 -43.05% 1 172.00
Irasburg CDP Orleans 171 163 8 4.91% 0.98 174.49
Beecher Falls CDP Essex 160 177 -17 -9.60% 1.26 126.98
266 Goshen Addison 149 164 -15 -9.15% 20.65 7.22
267 Lemington Essex 149 104 45 43.27% 35.38 4.21
268 Norton Essex 147 169 -22 -13.02% 39.21 3.75
269 Old Bennington village Bennington 137 139 -2 -1.44% 0.37 370.27
Troy CDP Orleans 134 243 -109 -44.86% 0.93 144.09
270 Perkinsville village Windsor 123 130 -7 -5.38% 0.18 683.33
Lowell CDP Orleans 116 228 -112 -49.12% 2.88 40.28
271 Newfane village Windham 113 118 -5 -4.24% 0.18 627.78
272 Landgrove Bennington 111 158 -47 -29.75% 9.13 12.16
East Burke CDP Caledonia 111 132 -21 -15.91% 0.52 213.46
Greensboro CDP Orleans 103 109 -6 -5.50% 2.58 39.92
Coventry CDP Orleans 98 97 1 1.03% 0.27 362.96
273 Granby Essex 95 88 7 7.95% 39.04 2.43
Worcester CDP Washington 94 112 -18 -16.07% 0.07 1,342.86
274 Brunswick Essex 89 112 -23 -20.54% 25.47 3.49
275 Searsburg Bennington 89 109 -20 -18.35% 21.44 4.15
276 Victory Essex 88 62 26 41.94% 42.88 2.05
East Montpelier CDP Washington 63 80 -17 -21.25% 0.09 700.00
277 Buels gore Chittenden 39 30 9 30.00% 4.96 7.86
278 Ferdinand Essex 30 32 -2 -6.25% 52.58 0.57
279 Averill Essex 18 24 -6 -25.00% 36.01 0.50
280 Glastenbury Bennington 9 8 1 12.50% 44.44 0.20
281 Somerset Windham 8 3 5 166.67% 25.91 0.31

Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2016
Source: U.S. Census Bureau, Population Division
Release Date: May 2017.

Types of Mortgages Offered in Vermont

As of 2017 the conforming loan limit across the United States is set to $424,100, with a ceiling of 150% that amount in areas where median home values are higher. High local affordability makes the $424,100 ceiling apply statewide for single unit homes. Dual unit homes have a limit of $543,000, triple unit homes have a limit of $656,350 & quadruple unit homes have a limit of $815,650. People buying premium properties in Burlington may be above these thresholds, requiring a jumbo loan. Jumbo loans typically have a slightly higher rate of interest than conforming mortgages, though spreads vary based on credit market conditions.

The types of mortgages offered in Vermont are Fixed Rate, Adjustable, and Balloon Mortgages.

Fixed Rate Mortgage

The fixed rate mortgage allows the consumer to keep the same mortgage rate throughout the duration of the loan. For example, if the consumer purchases a home with a 4.8 percent interest rate, the interest rate will remain the same over the duration of the loan. If the interest rate increases a point within the 15 or 30 years, the consumer's monthly mortgage will not increase because the interest rate is “fixed”. Most mortgages in Vermont are fixed.

Adjustable Rate Mortgage

The adjustable rate mortgage changes with the Federal Reserve Rate each month. The consumer’s lender will adjust the consumer’s rate accordingly. The interest rates for adjustable rate mortgages are typically lower than the national average. However, the consumer can expect that the rates will increase at some point during the duration of the loan. If this happens, the monthly mortgage may increase unexpectedly. At this point, the consumer may experience difficulty meeting their mortgage obligations. Many consumers lose their homes when this happens. Adjustable rate mortgages are recommended for investors.

Balloon Mortgage

This type of mortgage is typically reserved for commercial real estate, rather than residential real estate. Balloon mortgages in the introductory period are similar to “fixed” loans for a specified amount of time. After a fixed rate period of 5 or 7 years, the loan amount must be paid in full or refinanced. Many consumers must refinance, because consumers cannot afford to pay off the entire loan in one payment.

Refinancing

Refinancing is a way to save the home during the redemption period. A borrower is allowed to refinance during a redemption period without penalty. The cost of refinancing is often greater than the savings. The consumer should assess their personal financial situation prior to refinancing.

Home Equity

Any home equity that the buyer has accrued will be the borrowers after the loan amount and liens have been paid in full. If the borrower owes more than the home is worth, then the borrower can attempt to negotiate with the bank for a short sale.

Second Mortgage

Second mortgages can be helpful if the borrower needs home improvement or to pay off bills. Second mortgage rates are often lower than interest rates on credit cards or other loans, and they are also tax deductible. Consumers need to be aware of laws associated with second mortgages. For instance, some states require the borrower to have equity in their homes and some do not. Individuals should be aware of the laws prior to purchasing.

  • USDA loans can help people with low incomes in rural parts of the state qualify for a subsidized low-interest loan.

Type of Loans

Unfortunately, due to the current state of affairs in the United States, many Americans are experiencing foreclosure. Therefore, the consumer must know the type of loan they possess before they reach the foreclosure process.

Non-Recourse

Most first loans are non-recourse loans. If the lender forecloses the property due to non-payment of the loan, the consumer is not liable for any outstanding debt after the lender assumes the property. If the lender cannot sell the property for what is owed, the debt becomes the lender's liability. The lender's only recourse is to seize the property.

Recourse

A recourse loan is a type of loan that is not based upon any collateral. If the borrower or consumer does not pay, then the lender simply takes ownership of the property. A recourse loan requires the seller to be responsible for any amount owed on the property after the lender sells the property. If the owner owes after the sale of the property, the lender can seize other assets, garnish wages, or take other actions to recoup the loan amount. Some banks allow the first loan to be non-recourse and subsequent home mortgage loans will be recourse.

Natural Disasters

Flood Insurance

Homeowner's insurance policies typically do not cover flooding. Most of the state of Vermont has a very low to moderate risk of flooding. Here is county-by-county classification.

  • very low risk: Addison, Caledonia, Chittenden, Essex, Grand Isle, Lamoille, Orange, Orelans
  • low risk: Franklin, Windham
  • moderate risk: Bennington, Rutland, Washington, Windsor

Home buyers with mortgages in high-risk areas are required to buy flood insurance. Most flood insurance policies are sold by the United States federal government through The National Flood Insurance Program. Under-priced flood insurance in high-risk areas act as a subsidy to wealthy homeowners.

The NFIP does not charge nearly enough to cover the expected costs of its liabilities. The assessments are not sufficient to build any buffer to cover an extraordinary year, such as what occurred with Hurricane Katrina in 2005 or Hurricane Sandy in 2012. Because homeowners don€™t incur the full cost of building in a flood zone we end up with more houses there than if homeowners incurred the full cost of the flood risk, which exacerbates the government€™s costs in the next disaster.

Homeowners who live in lower risk areas & are not required to purchase flood insurance heavily cross-subsidize homeowners who are in areas where floods are more common.

Earthquakes

Most of the state has a very low eathquake risk, while the central portion of Vermont & the southeastern tip of the state have a low earthquake risk. Standard rental and homeowner insurance policies typically do not cover earthquake damage, though they usually cover losses caused by fires which resulted from an earthquake. You can supplement your homeowner's insurance with an earthquake policy.

Hail

Hail damage is not uncommon across the state. Damage from hail is typically covered by home insurance policies.

Foreclosure process

Recourse loans are riskier than non-recourse loans in the foreclosure process because the consumer may still be liable for a debt through a deficiency judgment. The consumer may not be in possession of the property, but still have to make payment on a property they do not own.

In Vermont, the foreclosure process allows for both judicial and non-judicial types of foreclosure. Non-judicial foreclosure involves an attorney informing the debtor of the lender’s intent to sell the property to recoup losses. An auction may be held in this instance. Non-judicial foreclosure involves a court proceeding to sell the foreclosed property.

The minimum number of months for foreclosure is 7 months, and it is expected to take 10 months. A borrower can sell the home during a redemption period, if the borrower cannot meet his or her obligations. If the consumer chooses this option, the consumer can keep any profits after any liens and the loan are paid in full.

Burlington, Vermont Harbor.