Vacancies figures for Vermont released yesterday might give a false impression of the amount of available housing in the Green Mountain State.
New numbers from the 2010 U.S. Census show Vermont has a 20.5 percent vacancy rate. While that number may be accurate, the devil's in the details: That statistic includes Vermont's substantial stock of "vacation" homes — units that may, in fact, have no one living in them year-round, but are also unavailable for sale or rental.
For many practical purposes, they'd be more accurately considered "occupied."
Vermont contains quite a few vacation homes, so their inflating effect on the vacancy rate is substantial. According to the 2000 Census, Vermont had the second highest vacation home rate in the nation: 14.5 percent. (Maine was number one, at 15.6%.)
Excluding vacation homes gives a much better view of Vermont's true vacancy picture.
While the Census hasn't yet published those figures for 2010, in '09 it listed Vermont's rental vacancy rate at 5.4 percent, compared to the national rate of 10.6 percent.
This was the lowest statewide rate in the country.
Vermont's homeownership vacancy rate in 2009 was just 1.4 percent — tied with two other states for lowest in the country — compared to the national rate of 2.6 percent.
At best, those numbers are considered unhealthy. At worst, they imply a crisis of affordable housing, largely driven by lack of stock.