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 | Essex County | Vermont Avg | US Average |
|---|---|---|---|
| Median Home Price | $107,500 | $227,771 | $242,182 |
| Price Trend (Annual %) | 23.2% | 2.3% | 8.2% |
| Median Gross Rent | $914 | $1,192 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 3.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Essex County is about 53% lower than in Vermont. Rent is about 23% lower 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 Essex County, up about 23.2% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Essex County rose about 32.9% between 2015 and 2023, from $688 to $914. Over the same span, rent in Vermont rose about 33.3%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Essex County.
Buying the median-priced home in Essex County costs roughly 9.8 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Essex County. The price-to-rent ratio in Vermont is about 15.9.
| Metric | Essex County | Vermont Avg | US Average |
|---|---|---|---|
| Median Home Price | $107,500 | $227,771 | $242,182 |
| Median Household Income | $58,558 | $78,253 | $78,145 |
| Price-to-Income Ratio | 1.8 | 2.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Essex County rose about 36.0%, while median household income rose about 46.2% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Essex County | Vermont Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 46.2% | 58.2% | 58.2% |
| Rental Rate | 9.4% | 21.7% | 31.3% |
| Vacancy Rate | 44.4% | 20.1% | 10.6% |
| Median Tenure (years) | 19.0 | 17.0 | 15.0 |
| Median Year Moved In | 2007 | 2009 | 2011 |
Essex County has a homeownership rate of 46.2%, lower than the Vermont average of 58.2%. Its housing vacancy rate is 44.4%, compared with 20.1% in Vermont.
Housing Stock
| Metric | Essex County | Vermont Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.17 people | 2.30 people | 2.54 people |
| Median Structure Built Year | 1972 | 1971 | 1978 |
| Median Number of Rooms | 5.0 | 5.6 | 5.5 |
The typical housing unit in Essex County was built around 1972. On average, 2.2 people live in a home with about 5.0 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Essex County, Vermont.
What is the median home price in Essex County, Vermont?
The median home price in Essex County, Vermont is $107,500, lower than the Vermont average of $227,771.
What is the average home price in Essex 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 Essex County, Vermont?
The median gross rent in Essex County, Vermont is $914 per month, lower than the Vermont average of $1,192.
What was the median gross rent in Essex County in 2020?
In 2020, the median gross rent in Essex County, Vermont was $720 per month.
What is the price-to-rent ratio in Essex County, Vermont?
The price-to-rent ratio in Essex County, Vermont is about 9.8, meaning it would take roughly 9.8 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Essex County.
Are home prices or rent rising faster in Essex County, Vermont?
Both home prices and rent are rising in Essex County, up about 23.2% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Essex County, Vermont?
46.2% of households in Essex County, Vermont own their home, lower than the Vermont average of 58.2%.
What is the vacancy rate in Essex County, Vermont?
The housing vacancy rate in Essex County, Vermont is 44.4%, higher than the Vermont average of 20.1%.