Best Affordable Places to Live in Vermont in 2024
(Last Updated – 12/2023)
If you’re looking to move to a place with a relaxed lifestyle and a deep sense of community that has lush forests, abundant mountains, and rolling farmlands, you may want to put Vermont at the top of your list.
With a population of less than 650,000 (the second lowest in the U.S. after Wyoming) spread out over its 9,600 square miles, the Green Mountain State offers families, young adults, and retirees a feeling of wide open space. There are no big cities here. Burlington, the largest city in Vermont, has less than 45,000 people. And while the state is not exactly inexpensive, it is more affordable than some other nearby states and there are some housing bargains to be found.
The glorious great outdoors is the focus in Vermont, and residents tend to spend their time hiking, biking, skiing, and snowshoeing, among other things. Lake Champlain borders the northwestern part of the state, and it’s a draw for those who enjoy swimming, kayaking, and fishing in the summer. Winters are snowy, cold, and long (the first frost typically happens in September), so a love of winter sports and cozying up by the fire certainly comes in handy.
Best Places to Live in Vermont
Living in Vermont gives residents the opportunity to enjoy such diverse experiences as skiing in the Green Mountains, relaxing on the beaches of Lake Champlain, perusing flea markets in one of the many charming small towns, and taking part in the state’s dynamic food and craft beer scene.
But there are costs to be aware of. The cost of living in Vermont is above the national average, although it’s less than some neighboring states, including New York and Massachusetts. However, prospective residents should know that Vermont has some of the highest property tax rates in the country — the fifth highest in the U.S. The state charges a property tax (called an education tax to support schools) in addition to the property tax charged by the local government.
Those who are considering moving to Vermont may want to explore the cost of living by state for other locations in New England, to see where they can get the most for their money. For those who decide Vermont is the best option for them, this guide pinpoints some of the best areas in the state to consider.
💡 Quick Tip: When house hunting, don’t forget to lock in your home mortgage loan rate so there are no surprises if your offer is accepted.
Best Affordable Places to Live in Vermont
These five towns in Vermont offer affordability along with picturesque scenery, plenty of activities for year-round fun, and a friendly vibe. Find out more about the most affordable places to live in Vermont.
1. Randolph
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This small town in the Green Mountains is a good option for those looking for history as well as arts and culture. An area of Randolph called Randolph Center is a registered National Historic District. Located on a hilltop, it offers gorgeous views of the mountains and is home to Vermont Technical College.
Down the hill, you’ll find the village of Randolph, which has an old-fashioned Main Street along with restaurants, shops, a movie theater, and Chandler Center for the Arts where residents can see performances and exhibits and take part in educational programs. And thanks to its mountain location, Randolph provides residents with plenty of opportunities for hiking, biking, skiing, and skating. Amtrak service is available here for those who want to travel.
Population: 2,102
Median Household Income: $63,452
Cost of Living: 93.3% of U.S. average
Median Rent Price: $1,395
Home Price-to-Income Ratio: 5.06
Average Property Tax: 2.05%
Housing Affordability: The housing costs in Randolph are affordable compared to many other towns in the state, which could make it appealing to first-time homebuyers. The average home value here is $321,344 — less than the national average and well below the average home price in Vermont, which is $388,868. The housing market is heating up, so now could be a good time to look. Renters have choices, too. Rental prices are reasonable, and the market is cool.
2. Northfield
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Nestled in a valley in the Green Mountains, the charming town of Northfield has plenty to offer residents, including stores, restaurants, cafes, and art galleries. Those who enjoy outdoor adventures can spend their free time hiking, biking, and fishing at the Northfield Town Forest in the spring, summer, and fall, and skiing, snowshoeing, and snowmobiling in the winter. Plus, there are job opportunities at Norwich University, the town’s largest employer.
Population: 5,927
Median Household Income: $60,819
Cost of Living: 98.9% of U.S. average
Median Rent Price: $1,500
Home Price-to-Income Ratio: 5.16
Average Property Tax: 2.05%
Housing Affordability: Buyers can find bargains here. The median home value is $314,040. It’s up more than 6%, however, indicating that others may be catching on. Undergoing the mortgage preapproval process now could help you move fast once you find a house you like. For those looking to rent, prices are on the rise but still reasonable, and the market is cool.
3. Waterbury
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Quaint and picturesque, Waterbury, which is just 10 miles from the ski resort town of Stowe, has spectacular views of mountain peaks and rolling hills. It’s a vibrant town, filled with shops, breweries, and restaurants for farm-to-table dining. On weekends, you can browse at the Waterbury Flea Market, Vermont’s largest outdoor flea market. Ice cream lovers will appreciate the Ben & Jerry’s factory here, where they can learn how ice cream is made. And, of course, there is plenty of hiking, fishing, skiing, and snowshoeing in the nearby state parks.
Population: 5,425
Median Household Income: $92,231
Cost of Living: 98.9% of U.S. average
Median Rent Price: $3,100
Home Price-to-Income Ratio: 5.8
Average Property Tax: 2.05%
Housing Affordability: Perhaps because of its proximity to Stowe, the housing market is more expensive in Waterbury. The median home value is $537,206, up 4.5% in the last year. There are virtually no rentals to be had in the town; most residents own their homes. Still, thanks to the high median household income, the home price-to-income ratio is relatively reasonable. And when you compare home prices here to those in Stowe, where the median home value is almost $945,000, it’s easy to understand why people choose to buy in Waterbury.
4. Middlebury
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Located in the heart of Vermont, Middlebury is one of the larger towns on our list with more than 9,000 residents. Home to Middlebury College, this city features a charming downtown filled with restaurants, cafes, and shops. There is plenty of culture here as well, including art galleries and museums, and residents can catch musical performances and lectures at the Town Hall Theatre. And because it’s surrounded by mountains and countryside, living in Middlebury offers residents plenty of outdoor activities like hiking, biking, and skiing.
Population: 9,158
Median Household Income: $68,239
Cost of Living: 100% of U.S. average
Median Rent Price: $950
Home Price-to-Income Ratio: 6.4
Average Property Tax: 1.86%
Housing Affordability: At $438,246, the median home value in Middlebury is well above the average in Vermont, but the cost of living in the town is reasonable, which can be helpful to prospective buyers as they consider their budget. The rental price in Middlebury has dropped, but the market is hot, likely because the college is located here, driving up demand.
5. Montpelier
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The capital city of Vermont, Montpelier has the distinction of being the smallest state capital in the U.S. Located in the Green Mountains at a spot where three rivers converge, the city is a draw for nature lovers. There’s skiing and ice skating in the winter, and kayaking and canoeing in the spring and summer. You can also hike in one of the many parks or go mountain biking on the area’s extensive trail network. The town itself is as active as its residents. There are community events and festivals on weekends, along with a multitude of restaurants, cafes, breweries, and boutique shops to enjoy.
Population: 8,023
Median Household Income: $71,163
Cost of Living: 101% of U.S. average
Median Rent Price: $1,000
Home Price-to-Income Ratio: 5.6
Average Property Tax: 2.05%
Housing Affordability: Renting can be challenging here. Rental prices are rising, the market is warm, and availability is limited. Buyers may have better luck. The median home value in Montpelier is $401,729. And while that number is up almost 5%, nearby areas like Woodsville tend to have more affordable home prices. Plus, newbie house hunters can explore the first-time homebuyer programs in Vermont, which include state and federal assistance programs.
Best Places to Live in Vermont for Families
Families will find a lot to like about Vermont. The state boasts a strong sense of community, wide open places for kids to play, and numerous events to keep the whole family entertained. Here are some of the best places to live in Vermont for families.
1. Middlebury
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Making a second appearance on our list, this city is known for being extremely family friendly and community-oriented. It has a strong arts and culture scene, with art galleries, museums, and a theater that has live performances, as well as restaurants that serve a variety of fare. Parents are drawn by the area’s highly rated schools, and the proximity of Middlebury College could be helpful for those looking for babysitters or tutors. Kids, for their part, will enjoy the opportunity to run around: The surrounding mountains and countryside provide easy access to hiking, biking, and skiing.
Population: 9,158
Median Household Income: $68,239
Cost of Living: 100% of U.S. average
Median Rent Price: $950
Home Price-to-Income Ratio: 6.4
Average Property Tax: 1.86%
Housing Affordability: Families hoping to buy here will find that the market is getting hot. The median home value is up over last year. This could be a good time for prospective buyers to explore the different types of mortgage loans to see what their options are. Fortunately, property taxes are lower in Middlebury than they are in some other areas of Vermont, which can benefit your budget.
2. Bristol
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Families yearning for more of a rural lifestyle may find it in this town in the foothills of the Green Mountains. Bristol is small but vibrant, with summer concerts and movies on the town green, plus tons of trails nearby for hiking and biking. It’s also conveniently located: Parents will have an easy commute to the city of Burlington, which is just 30 miles away. The community itself is friendly and tight-knit, and it has a sense of the progressiveness for which Vermont is known. Case in point: Bristol Village Cohousing, a community of 14 joined households is here.
Population: 1,995
Median Household Income: $62,840
Cost of Living: 100.4% of U.S. average
Median Rent Price: $1,850
Home Price-to-Income Ratio: 6.2
Average Property Tax: 1.86%
Housing Affordability: Along with its other perks, Bristol is fairly affordable, too. The median home value is $392,062, just above the average for the state. Most residents own here, and renting can be tough. The rental market is warm and the number of rental properties is limited.
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3. Williston
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Located just a half hour from Burlington, Williston is a bustling town where there is always something to do. Recreation programs for the kids, including soccer and track and field, are offered year round, and the Catamount Family Center has hiking in the summer and cross country skiing in the winter for your entire clan. There are numerous shops and restaurants here, along with community events such as parades, a town barbecue, and summer movie nights. Parents are drawn to the area’s good schools.
Population: 10,104
Median Household Income: $99,071
Cost of Living: 106% of U.S. average
Median Rent Price: $2,300
Home Price-to-Income Ratio: 5.39
Average Property Tax: 2.03%
Housing Affordability: Williston is a desirable place to live, which is reflected in its median home value of $534,881. Prices are up more than 5%, so if you’re thinking about buying here, you may want to get serious about house hunting sooner rather than later. Reading up on tips to qualify for a mortgage may be useful as you begin your search.
4. Essex Junction
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With small town charm and plenty of community spirit, this thriving area near Burlington is known for being family friendly. There are concerts and events for family entertainment plus a community pool, hiking, biking, pickleball, and skiing. The downtown is filled with shops, restaurants, and local businesses. Parents like the area’s top-rated schools, and the fact that so many families live here means there are many opportunities for play dates. Essex Junction also has public transportation via the Green Mountain Transit system.
Population: 10,917
Median Household Income: $79,677
Cost of Living: 111% of U.S. average
Median Rent Price: $3,200
Home Price-to-Income Ratio: 6.12
Average Property Tax: 2.03%
Housing Affordability: While housing in Essex Junction is less expensive than it is in nearby Williston — the median home value is $488,236 — the average household income is lower here, which can make it more of a stretch for some families. The housing market is up more than 5%, and the rental market is tight. However, there are affordable options to be found in certain neighborhoods, so prospective buyers may want to broaden their search.
5. South Burlington
Perched on the shores of Lake Champlain, South Burlington offers beautiful vistas, more than 400 acres of parks, and 23 miles of trails for walking, hiking, and biking. The area’s excellent public schools are a draw for parents, as are the many employers in town, including start-ups and small businesses. South Burlington has plenty to keep the entire family entertained, with numerous restaurants and stores and University Mall, the largest mall in Vermont.
Population: 20,642
Median Household Income: $83,750
Cost of Living: 114% of U.S. average
Median Rent Price: $2,400
Home Price-to-Income Ratio: 5.55
Average Property Tax: 2.03%
Housing Affordability: Families looking for a location near Burlington may be able to find something that fits their budget here. The median home value is $464,902, which is less than some neighboring towns. There are rentals available, too, though the rental price has increased over the past year and the market is warm.
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Best Places to Live in Vermont for Young Adults
Vermont has a number of cities suitable for young professionals with job prospects, entertainment options, and reasonable affordability. These are the best places to live in Vermont for young adults.
1. Middlebury
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There’s a reason Middlebury keeps popping up on our list: This college town has a lot to offer! In addition to outdoor activities like hiking and skiing, young adults will appreciate the cultural and social scene here. There are art galleries, museums, shops, restaurants, and cafes in town, plus nearby cideries, wineries, and distilleries for hanging out with friends. Job prospects can be found here, too. Employers in the area include Middlebury College, Collins Aerospace, Porter Medical Center, and the National Bank of Middlebury.
Population: 9,158
Median Household Income: $68,239
Cost of Living: 100% of U.S. average
Median Rent Price: $950
Home Price-to-Income Ratio: 6.4
Average Property Tax: 1.86%
Housing Affordability: Renting can be a bargain in Middlebury. Rental prices are low, and they’ve dropped over the past year. The demand for rentals is high, though, so for young adults who can afford it, buying might be a better option. The median home value in Middlebury is $438,246.
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2. Montpelier
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Vermont’s capital city is a dynamic place, and it’s no wonder many young adults tend to settle here. Along with glorious mountain scenery and outdoor activities like kayaking, swimming, and hiking, there are restaurants, cafes, and breweries for entertainment. The resort town of Stowe is just a 30-minute drive away for world-class skiing in the winter, and for those who crave the occasional big-city adventure, Montreal is two hours by car. Job opportunities in Montpelier include working for the state government or one of the area’s many businesses, including Central Vermont Medical Center and Cabot Creamery.
Population: 8,023
Median Household Income: $71,163
Cost of Living: 101% of U.S. average
Median Rent Price: $1,000
Home Price-to-Income Ratio: 5.6
Average Property Tax: 2.05%
Housing Affordability: The rental market is tight in Montpelier, so young adults may want to buy instead. Although the $400,000+ median home value may be out of their price range, there are bargains to be found in outlying areas. If you’re considering buying here, a home loan help center could be useful as you determine your best options for financing.
3. Brattleboro
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Tucked in the southeast corner of Vermont near Massachusetts and New Hampshire, Brattleboro is a bustling town with a dynamic arts scene, including the Brattleboro Museum and Art Center. There are numerous cultural events and festivals throughout the year, as well as hiking in the Green Mountains and fishing in the West River, which runs through town. Foodies will enjoy the many farm-to-table restaurants, and there are craft breweries as well. Young adults may be able to find jobs in one of the healthcare, education, technology, or manufacturing businesses here.
Population: 12,106
Median Household Income: $41,001
Cost of Living: 102% of U.S. average
Median Rent Price: $1,800
Home Price-to-Income Ratio: 6.35
Average Property Tax: 2.06%
Housing Affordability: Houses are affordable in Brattleboro compared to many other locations in the state, and the medium home value of $324,127 is well below the average home price in Vermont. The Brattleboro rental market is hot, and there are a limited number of rental properties.
4. Colchester
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Filled with hiking trails and parks, Colchester is a great option for young professionals who are outdoor enthusiasts. There are many hikers, bikers, and runners here, and chances are, you’ll meet some fellow athletes as you log your miles. According to residents, this is a friendly place where people love to stop and talk. Employers in the area include Vermont Public Radio, Green Mountain Power, and several tech firms. There are plenty of restaurants, art galleries, shops, and even a drive-in movie theater to keep you entertained when you’re not working or exploring nature.
Population: 17,604
Median Household Income: $83,869
Cost of Living: 112% of U.S. average
Median Rent Price: $2,100
Home Price-to-Income Ratio: 5.51
Average Property Tax: 2.03%
Housing Affordability: Houses can be pricey in Colchester, with a median home value of $462,241. That’s up more than 9%, and it’s been steadily rising for the past few years, attesting to the area’s popularity. Renting may be a better choice for some. Rental prices are down and the market is cool.
5. South Burlington
Young adults can enjoy a fun and active lifestyle in this vibrant town on the banks of Lake Champlain. South Burlington has numerous stores and a mall, plus restaurants, bars, and breweries for socializing. Nature lovers will enjoy hiking, biking, and kayaking on the lake. And there are work opportunities in a variety of businesses in the area.
Population: 20,642
Median Household Income: $83,750
Cost of Living: 114% of U.S. average
Median Rent Price: $2,400
Home Price-to-Income Ratio: 5.55
Average Property Tax: 2.03%
Housing Affordability: Rentals are available here, although the market is quite competitive. The median home value is $464,902, which could be steep for some young adults, but certain neighborhoods of South Burlington are more affordable than others.
Best Places to Live in Vermont for Retirees
With its beautiful scenery, community spirit, and relaxing lifestyle, Vermont may appeal to many seniors. As long as they can tolerate the long, cold winters, the state can offer distinct advantages, including a good healthcare system and an above-average quality of life. These are some of the best places to live in Vermont for retirees.
1. Killington
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Located in the Green Mountains, this small suburb of Rutland, which is also one of the top skiing destinations in New England, happens to have a low cost of living. That may be why almost 40% of the population here is over age 55. For active seniors, there are outdoor adventures all year long, including skiing and snowshoeing, as well as hiking, biking, and golf (there are several courses here). The town has delicious restaurants, live music venues, and bars and pubs for gathering with friends. Rutland is just a 20-minute drive away for healthcare needs, an airport, and bigger-city amenities.
Population: 851
Median Household Income: $68,333
Cost of Living: 90.1% of U.S. average
Median Rent Price: $950
Home Price-to-Income Ratio: 6.7
Average Property Tax: 2.13%
Housing Affordability: For a resort town, Killington is surprisingly affordable. The median home value is $458,451. (For comparison, Stowe, another ski resort town, has a median home value of almost $945,000.) Killington home prices have risen 7% in the last year, so those interested in buying may want to get in on the market now. Renting is challenging here, likely because of tourism demand, so buying might be a more viable option. There are also several senior living communities in the area to choose among.
2. Randolph
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Not only is it the most affordable town on our list, Randolph is also a desirable location for those ready to retire. There’s history and culture here, including the Chandler Center for the Arts for performances, exhibits, and educational programs that seniors can enjoy. The town has many restaurants and farmers markets, and there are art galleries for browsing. Other perks: The Randolph Senior Center offers a variety of workshops and programs, there are a number of senior living communities in the area, and Central Vermont Medical Center is less than a half hour away.
Population: 2,102
Median Household Income: $63,452
Cost of Living: 93.3% of U.S. average
Median Rent Price: $1,395
Home Price-to-Income Ratio: 5.06
Average Property Tax: 2.05%
Housing Affordability: Houses in Randolph are well below the average home price in Vermont, with a median home price of $321,344. This could be a good time to look before the housing market heats up.
3. Vergennes
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Vermont’s first city, Vergennes, which is only two square miles in size, also calls itself America’s smallest city. But while its acreage may be tiny, its offerings for retirees are expansive. For arts and culture buffs, the town has a historic opera house that hosts musical and theatrical performances, and a beautiful library with a stained glass domed ceiling. Summer concerts and festivals fill the lovely park in the center of downtown. There are restaurants to grab a bite with friends, and eclectic shops to explore. Plenty of outdoor adventures also await, including canoeing and kayaking on the creek that runs through town, as well as hiking and biking.
Population: 2,573
Median Household Income: $65,750
Cost of Living: 100% of U.S. average
Median Rent Price: $1,700
Home Price-to-Income Ratio: 5.26
Average Property Tax: 1.86%
Housing Affordability: Buyers may be able to find a bargain here: The median home value in Vergennes is $346,476, which is well below the average home price in Vermont. The rental market is cool, and rental prices are up slightly over the previous year.
4. Bristol
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This dynamic little town offers breathtaking views from its location at the foot of the Green Mountains. There is a sizable senior population here: Those 55 and up comprise 37% of the town’s population. Bristol is pedestrian-friendly, with shops, bookstores, and arts and crafts boutiques for browsing, as well as restaurants and coffee places for meeting up with your peers. The sense of community runs deep — there’s a summer music festival and street fair and weekly band concerts on the town green. The city of Burlington is just 30 miles away for more arts and culture and access to the University of Vermont Medical Center.
Population: 1,995
Median Household Income: $62,840
Cost of Living: 100.4% of U.S. average
Median Rent Price: $1,850
Home Price-to-Income Ratio: 6.2
Average Property Tax: 1.86%
Housing Affordability: Buying here is fairly reasonable compared to many other places in Vermont, which may help explain why most residents own their homes. The median home value is $392,062, slightly above the average for the state.
5. Shelburne
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Located on Lake Champlain, Shelburne is conveniently located between Burlington and Middlebury. Seniors, who make up 41% of the population, will appreciate the history and charm of this friendly town. The quaint village center is lined with shops, fine restaurants, and the Shelburne Museum, which has a diverse art collection. Pastimes include exploring Shelburne Farms, a historic landmark on the shore of the lake. This working farm and educational center celebrates Vermont’s rich agricultural past. There, you can learn how to make cheese or bake your own bread. Active retirees can walk and bike on trails along the lake, or take one of the senior recreation programs that are offered by the town.
Population: 7,871
Median Household Income: $96,976
Cost of Living: 102% of U.S. average
Median Rent Price: $3,200
Home Price-to-Income Ratio: 6.87
Average Property Tax: 2.03%
Housing Affordability: While the cost of living in Shelburne is fairly reasonable, housing prices are on the higher side. The median home value here is $666,979, which is up 5.4% since the previous year. While the rental market on the whole is expensive, Shelburne does have several senior living facilities that might be worth looking into.
Best Places to Live in Vermont Near the Water
Vermont has more than 800 lakes, more than 7,000 miles of rivers, and many ponds and streams. Those hoping to live on the water here have plenty of choices throughout the state.
These are some of the best places to live in Vermont near the water.
1. Vergennes
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This charming little town is located on Otter Creek, which is actually the longest river in Vermont. Residents can enjoy sailing, boating, canoeing, or kayaking on the river, and then tie up at the municipal docks and enjoy lunch or dinner at one of several restaurants. Just outside town you can visit beautiful Vergennes Falls where there are trails for hiking.
Population: 2,573
Median Household Income: $65,750
Cost of Living: 100% of U.S. average
Median Rent Price: $1,700
Home Price-to-Income Ratio: 5.26
Average Property Tax: 1.86%
Housing Affordability: As waterside locations go, Vergennes is a bargain with a median home value of $346,476. Prices are edging up, however, so if you’re dreaming of living near the water, this could be a good time to house hunt.
2. Montpelier
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Vermont’s capital city sits where three rivers come together, making it a good place for those looking for waterfront property. Even if you don’t purchase a house right on the water, you’ll still have easy access to it for fishing, kayaking, and canoeing. After a day of watersports, you can head into town to visit one of the many restaurants, cafes, or breweries, or enjoy one of the festivals or parades.
Population: 8,023
Median Household Income: $71,163
Cost of Living: 101% of U.S. average
Median Rent Price: $1,000
Home Price-to-Income Ratio: 5.6
Average Property Tax: 2.05%
Housing Affordability: Housing prices are up almost 5% here, and the median home value is $401,729. Waterfront property in the Montpelier area will cost about two or three times that amount, though prospective buyers may be able to find bargains in some nearby areas.
3. Colchester
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This lovely town is a nature lover’s paradise. It’s surrounded by water on three sides — the Winooski River, the Lamoille River, and Lake Champlain — and you can enjoy boating, fishing, swimming, or relaxing on the beach. There are also parks with trails for hiking, biking, and running. In the evenings, have dinner at one of the town’s many restaurants, or catch a movie at the drive-in, which is one of the largest in Vermont.
Population: 17,604
Median Household Income: $83,869
Cost of Living: 112% of U.S. average
Median Rent Price: $2,100
Home Price-to-Income Ratio: 5.51
Average Property Tax: 2.03%
Housing Affordability: Home prices are on the rise here. The median home value is $462,241, and a house by the water can cost much more. Renting could be an option: The rental market is cool, and prices are dropping.
4. South Burlington
If you’re searching for a location near Lake Champlain that won’t cost a fortune, South Burlington may have what you’re looking for. A dynamic town that offers plenty of entertainment options, including restaurants, bars, breweries, and a mall, its lakeside location means you can swim, fish, or boat all summer and into the fall. There are also trails for lakeside runs or walks, and you can enjoy the scenic water views and calming vibes year-round.
Population: 20,642
Median Household Income: $83,750
Cost of Living: 114% of U.S. average
Median Rent Price: $2,400
Home Price-to-Income Ratio: 5.55
Average Property Tax: 2.03%
Housing Affordability: Living in South Burlington isn’t cheap, but it isn’t extravagant either, given its by-the-water location. The median home value is $464,902, and if you’re willing to live a little farther away from the water, you may find less expensive options in certain neighborhoods.
5. Charlotte
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Nestled in the Champlain Valley and overlooking Lake Champlain, Charlotte is a quiet and picturesque town known for its beautiful lakefront and public beach.There are farms and orchards here, along with a winery, equestrian centers, trails for walking, riding and cycling, and of course, swimming, kayaking, boating, and fishing on the lake. The town has restaurants, stores, a library, and a grange hall. There’s also a ferry in Charlotte that takes cars and passengers across the lake to Essex, New York. Burlington is just 10 miles away for arts and culture and other city amenities.
Population: 3,900
Median Household Income: $111,535
Cost of Living: 112.4% of U.S. average
Median Rent Price: $3,200
Home Price-to-Income Ratio: 6.89
Average Property Tax: 2.03%
Housing Affordability: Homes in Charlotte are on the expensive side. The median home value is $768,485, which is up 2%. Almost everyone owns their own home, so there isn’t much of a rental market here. However, there are some nearby areas, including South Barre, that are less expensive for buyers and renters.
The Takeaway
Vermont is not an inexpensive place to live, but it is less costly than other places in New England. And it has much to offer, especially for those who are active and love the outdoors. From charming small towns in the mountains to vibrant communities near Lake Champlain, there are affordable options to be found in the Green Mountain State for families, young adults, and retirees.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.Browse Other States
FAQ
Is Vermont a good place to live?
It depends what you’re looking for, but Vermont can be a good place to live. The state has a lot to offer, especially for those who love the outdoors and can take advantage of its mountains, lakes, and rivers.
What is the most affordable place to live in Vermont?
The most affordable places in Vermont include small towns in the Green Mountains like Randolph, Northfield, and Waterbury.
What is the best area of Vermont to live in?
The best area of Vermont to live in depends on what you’re looking for. Those who want to live near the water may be drawn to towns near Lake Champlain. Those who enjoy skiing may want to be closer to a resort town such as Killington or Stowe.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
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