The most recent data available has been added to the Vermont Housing Data website at www.housingdata.org which is managed by VHFA. The updates to the website include the most recent American Community Survey (ACS) 5-year estimates from the U.S. Census Bureau as well as new data from the Multiple Listing Service (MLS), the Vermont Department of Taxes, the National Low Income Housing Coalition’s (NLIHC) Out of Reach report, and more. The data available on HousingData.org provide a variety of visualization for housing indicators in every town and county in Vermont. This data can be used to help identify housing trends and need within the community for everyone from lawmakers to nonprofits and local governments.
This year’s data provides some interesting insights into current trends on housing affordability and availability. As noted in a recent VHFA analysis there are a multitude of factors leading to the strain on the housing market, namely a steep rise in home price and an influx of people into the state. The recent data now available on the website provides more context for understanding this trend.
Updated MLS data shows that days on market (DOM) have been steadily decreasing since 2016 with a sharp increase in number of home sales during 2020 and 2021. Though this highlights higher rates of activity within the housing market, the increase in home sales exceeds the pace of homebuilding across the state which may further constrain the housing market. Similarly, new 2021 data from the ACS shows that the rental vacancy rate is still declining, down significantly since 2010, constricting the housing market for renters at 3.2% statewide. Further, the NLIHC Out of Reach report concludes that the average wage needed to rent an apartment across the state is on the rise, outpacing the median household income for renters in most counties. For renters, this means that housing is both less available and less affordable.
This year’s new data provides important background to the housing crisis being felt across the state. Trends which began in the years before the pandemic have intensified and continue to affect housing availability and affordability across the state. With data available for every town and county in Vermont, the updated visualizations present an opportunity for individuals, organizations, and municipalities to better understand the housing in their area.