Department of Numbers

Vermont Residential Rent and Rental Statistics

The median monthly gross residential rent in Vermont was $923 in 2015 according to the Census ACS survey.1 Average gross rent was $902 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Vermont median and average rent data will be released in September of 2017.

Data is also available below for Vermont rental vacancy rates, Vermont rent as a percent of median income and the fraction of renters in Vermont.

Show dollars as: Nominal Real

Real Gross Rent in Vermont (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Vermont Median Gross Rent $923 +1.10% +7.08%

Vermont Real Gross Rent Trends

At $923, real median gross rent in Vermont was at its highest level in 2015 since the series began in 2005. Average gross rent for Vermont peaked in real terms in 2014 at $924 and is now $22 (2.38%) lower.

Real Gross Rent in Vermont: Median, Average, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Vermont

Date US Median Vermont Median Vermont Average
2015 $959 $923 $902
2014 $930 $913 $924
2013 $898 $859 $845
2012 $886 $862 $860
2011 $887 $864 $863
2010 $901 $867 $853
2009 $905 $891 $868
2008 $920 $890 $878
2007 $874 $837 $836
2006 $883 $829 $801
2005 $858 $805 $786

Vermont Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Vermont was 4.06% according to Census ACS data.

Rental Vacancy Rate in Vermont

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Vermont 4.06% -0.09% -0.26%

Trends in Vermont Rental Vacancy Rate

The rental vacancy rate in Vermont peaked in 2009 at 7.79%. Since then it has fallen by 3.73% to 4.06%. Data records for this series originated in 2005.

Rental Vacancy Rate: Vermont, US

Rental vacancy rate in Vermont

Historical Rental Vacancy Rate data for Vermont

Date US Vermont
2015 5.85% 4.06%
2014 6.32% 4.15%
2013 6.49% 4.87%
2012 6.77% 4.32%
2011 7.40% 4.17%
2010 8.17% 7.30%
2009 8.43% 7.79%
2008 7.86% 6.04%
2007 7.87% 4.75%
2006 7.70% 4.09%
2005 7.74% 6.08%

Vermont Rent as a Fraction of Income

Using median household income data for Vermont, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Vermont, median monthly gross rent as a fraction of median household income was 19.43% in 2015 according to the ACS.

Vermont Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Vermont 19.43% -0.88% -0.05%

Trends in Vermont Rent as a Fraction of Income

The fraction of median Vermont household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 20.32%. Since then it has fallen by 0.88% to 19.43%.

Fraction of Income towards Rent: Vermont, US

Percent of median household income going towards median monthly gross rent in Vermont

Historical Data for Annual Rent as a Fraction of Income in Vermont

Date US Vermont
2015 20.63% 19.43%
2014 20.89% 20.32%
2013 20.78% 19.74%
2012 20.65% 19.48%
2011 20.70% 19.30%
2010 20.50% 19.99%
2009 20.12% 19.27%
2008 19.00% 18.36%
2007 18.66% 18.18%
2006 18.90% 18.03%
2005 18.89% 17.94%

Renter Fraction in Vermont

You can calculate the renter fraction in Vermont in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Vermont as a fraction of total Vermont households. In 2015 29.29% of households were renters according to Census ACS data.

Vermont Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Vermont 29.29% -0.66% +0.30%

Trends in the Vermont Renter Fraction

The Vermont household renter fraction peaked in in 2014 at 29.95% and is now 0.66% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Vermont, US

Fraction of renters in Vermont

History of Vermont Renter Fraction

Date US Vermont
2015 36.97% 29.29%
2014 36.90% 29.95%
2013 36.50% 29.00%
2012 36.09% 28.99%
2011 35.42% 28.72%
2010 34.65% 29.61%
2009 34.13% 28.72%
2008 33.36% 27.84%
2007 32.80% 27.18%
2006 32.73% 28.14%
2005 33.10% 28.92%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.