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Publications

Homeownership rate increases, but first-time buyers face barriers

The annual report on housing from the Joint Center for Housing Studies of Harvard University (JCHS) reveals that although homeownership rates are beginning to climb, young adults are finding it increasingly difficult to afford to buy their first home. The report found that from 1990 to 2016 the median home price rose 41 percent faster than overall inflation, outpacing wage growth during the same period. Homeownership rates among young adults today are lower than they were before the recession.

Rent unaffordable for many Vermont workers

The latest edition of the annual report on rental housing affordability from the National Low Income Housing Coalition and the Vermont Affordable Housing Coalition has found that Vermont has one of the highest gaps in the nation between the cost of rent and renter wages. Out of Reach: The High Cost of Housing reports that for a Vermont renter to be able to afford a modest two bedroom apartment, he or she would need to earn $22.40 per hour, well above the average renter wage.

Congressional report highlights housing crisis

A task force convened by the New Democrat Coalition, a group of moderate Democrats in the U.S. House of Representatives, has found that housing is becoming increasingly unaffordable and unavailable for many Americans. In the report, Missing Millions of Homes, the Coalition linked the lack of affordable housing to a combination of wage stagnation and decreased construction.

2017 Annual Report video

VHFA had a great 2017!

VHFA releases 2017 Annual Report

2017 was another highly successful year for Vermont Housing Finance Agency. 

In fiscal year 2017, VHFA financed $76 million in home mortgages to help 483 households move into affordable homes. VHFA’s programs saved homebuyers an average of $5560 through the ASSIST down payment assistance program and other closing cost savings, enabling many young Vermonters to purchase their first home with less financial strain.

Progress update on first year of Building Homes Together campaign

Vermont Governor Phil Scott speaks at press conference

Vermont Governor Phil Scott joined legislative and housing leaders in a press conference last week to update the public on the first year progress of the Building Homes Together campaign.

Goal

In an effort to increase the availability of affordable homes in Vermont, Champlain Housing Trust teamed up with Chittenden County Regional Planning Commission and Housing Vermont to set a goal of 3,500 new homes within 5 years, with 20% of them being permanently affordable.

Number of U.S. households with worst housing needs grew 8 percent in 2013-2015

Despite continued signs of a strengthening national economy, HUD's reported this month that severe housing problems are on the rise. In 2015, 8.30 million households had worst case needs, up from 7.72 million in 2013. These households are defined as very low-income renters who do not receive government housing assistance and who paid more than one-half of their income for rent, lived in severely inadequate conditions, or both.

Federal assistance is critical to housing poorest Vermonters

Housing affordability challenges in high-cost cities often overshadow the enormous housing challenges in rural America. Though the situation is more extreme in metro areas, rural areas and small towns also face significant shortages of affordable and available rental housing, as most very low-income Vermonters well know.

VHFA 2016 highlights include record social impacts and top workplace award

Updates to Vermont Fire & Building Code take effect October 10, 2016

The Vermont Department Fire Safety announced last week that on October 10, 2016 the 2015 Vermont Fire & Building Safety Code will take effect.

The Code establishes the process to obtain a construction or operating permit, lists the codes and standards that are adopted and describes the process used to evaluate and grant a variance or exemption from the Code. 

 

 

 

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