Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Addison County | Vermont Avg | US Average |
|---|---|---|---|
| Median Home Price | $399,928 | $227,771 | $242,182 |
| Price Trend (Annual %) | 11.4% | 2.3% | 8.2% |
| Median Gross Rent | $1,200 | $1,192 | $1,342 |
| Rent Trend (Annual %) | 4.3% | 3.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Addison County is about 76% higher than in Vermont. Rent is about 1% higher than the Vermont average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Addison County, up about 11.4% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Addison County rose about 36.6% between 2015 and 2023, from $878 to $1,200. Over the same span, rent in Vermont rose about 33.3%.
Affordability
On average, housing unit costs 4.6 yearly household incomes in Addison County.
Buying the median-priced home in Addison County costs roughly 27.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Addison County. The price-to-rent ratio in Vermont is about 15.9.
| Metric | Addison County | Vermont Avg | US Average |
|---|---|---|---|
| Median Home Price | $399,928 | $227,771 | $242,182 |
| Median Household Income | $86,753 | $78,253 | $78,145 |
| Price-to-Income Ratio | 4.6 | 2.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Addison County rose about 113.3%, while median household income rose about 55.8% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Addison County | Vermont Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.8% | 58.2% | 58.2% |
| Rental Rate | 16.7% | 21.7% | 31.3% |
| Vacancy Rate | 16.5% | 20.1% | 10.6% |
| Median Tenure (years) | 18.0 | 17.0 | 15.0 |
| Median Year Moved In | 2008 | 2009 | 2011 |
Addison County has a homeownership rate of 66.8%, higher than the Vermont average of 58.2%. Its housing vacancy rate is 16.5%, compared with 20.1% in Vermont.
Housing Stock
| Metric | Addison County | Vermont Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.34 people | 2.30 people | 2.54 people |
| Median Structure Built Year | 1972 | 1971 | 1978 |
| Median Number of Rooms | 5.8 | 5.6 | 5.5 |
The typical housing unit in Addison County was built around 1972. On average, 2.3 people live in a home with about 5.8 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Addison County, Vermont.
What is the median home price in Addison County, Vermont?
The median home price in Addison County, Vermont is $399,928, higher than the Vermont average of $227,771.
What is the average home price in Addison County, Vermont?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Addison County, Vermont?
The median gross rent in Addison County, Vermont is $1,200 per month, higher than the Vermont average of $1,192.
What was the median gross rent in Addison County in 2020?
In 2020, the median gross rent in Addison County, Vermont was $1,027 per month.
What is the price-to-rent ratio in Addison County, Vermont?
The price-to-rent ratio in Addison County, Vermont is about 27.8, meaning it would take roughly 27.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Addison County.
Are home prices or rent rising faster in Addison County, Vermont?
Both home prices and rent are rising in Addison County, up about 11.4% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Addison County, Vermont?
66.8% of households in Addison County, Vermont own their home, higher than the Vermont average of 58.2%.
What is the vacancy rate in Addison County, Vermont?
The housing vacancy rate in Addison County, Vermont is 16.5%, lower than the Vermont average of 20.1%.