Housing
Vacancy - 17.7%
The Burlington, VT Market ranks 12th in Vacancy across STI Markets with a Vacancy rate of 17.7%. That is 75,498 Vacant Housing units compared to 349,848 Occupied units.
Average Home Value - $413,513
The Average Home Value for owner occupied housing units in the Burlington, VT Market is $413,513. This ranks 63rd across STI Markets. Over the last 2 years there has been a change of 19.7% in this markets Average Home Value, compared to a national change of 9.9%. This 2 year change in home values ranks 1st across STI Markets.
Figure 55: Home Value 2year History
Mortgage Risk Level - Low
Mortgage Risk is defined as the ratio of recent residential loan amount to income for new home purchases. The Mortgage Risk for the Burlington, VT Market is 2.7. The market subsequently ranks 120th across STI Markets. This is considered to be a Low level of mortgage risk.
Affordability Level - Accessible
Overall Affordability can be classified in a similar fashion, comparing the Markets Average Home Value with the Average Household Income. This Affordability ratio currently sits at 4.2. The Burlington, VT Market therefore earns the Accessible classification for housing affordability and ranks 57th across STI Markets. The following chart shows how markets compare between these two measure. Note the breaks between affordability classifications are 3, 5, and 7.
Figure 60: Affordability Comparision
