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 | Lamoille County | Vermont Avg | US Average |
|---|---|---|---|
| Median Home Price | $304,968 | $227,771 | $242,182 |
| Price Trend (Annual %) | 6.3% | 2.3% | 8.2% |
| Median Gross Rent | $1,123 | $1,192 | $1,342 |
| Rent Trend (Annual %) | 3.7% | 3.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lamoille County is about 34% higher than in Vermont. Rent is about 6% 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 Lamoille County, up about 6.3% and 3.7% a year respectively. Home prices are changing faster.
Median rent in Lamoille County rose about 29.7% between 2015 and 2023, from $865 to $1,123. Over the same span, rent in Vermont rose about 33.3%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in Lamoille County.
Buying the median-priced home in Lamoille County costs roughly 22.6 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 Lamoille County. The price-to-rent ratio in Vermont is about 15.9.
| Metric | Lamoille County | Vermont Avg | US Average |
|---|---|---|---|
| Median Home Price | $304,968 | $227,771 | $242,182 |
| Median Household Income | $71,778 | $78,253 | $78,145 |
| Price-to-Income Ratio | 4.2 | 2.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Lamoille County rose about 36.3%, while median household income rose about 40.1% 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 | Lamoille County | Vermont Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.8% | 58.2% | 58.2% |
| Rental Rate | 22.0% | 21.7% | 31.3% |
| Vacancy Rate | 19.2% | 20.1% | 10.6% |
| Median Tenure (years) | 17.0 | 17.0 | 15.0 |
| Median Year Moved In | 2009 | 2009 | 2011 |
Lamoille County has a homeownership rate of 58.8%, higher than the Vermont average of 58.2%. Its housing vacancy rate is 19.2%, compared with 20.1% in Vermont.
Housing Stock
| Metric | Lamoille County | Vermont Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.22 people | 2.30 people | 2.54 people |
| Median Structure Built Year | 1981 | 1971 | 1978 |
| Median Number of Rooms | 5.5 | 5.6 | 5.5 |
The typical housing unit in Lamoille County was built around 1981. On average, 2.2 people live in a home with about 5.5 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lamoille County, Vermont.
What is the median home price in Lamoille County, Vermont?
The median home price in Lamoille County, Vermont is $304,968, higher than the Vermont average of $227,771.
What is the average home price in Lamoille 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 Lamoille County, Vermont?
The median gross rent in Lamoille County, Vermont is $1,123 per month, lower than the Vermont average of $1,192.
What was the median gross rent in Lamoille County in 2020?
In 2020, the median gross rent in Lamoille County, Vermont was $941 per month.
What is the price-to-rent ratio in Lamoille County, Vermont?
The price-to-rent ratio in Lamoille County, Vermont is about 22.6, meaning it would take roughly 22.6 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 Lamoille County.
Are home prices or rent rising faster in Lamoille County, Vermont?
Both home prices and rent are rising in Lamoille County, up about 6.3% and 3.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lamoille County, Vermont?
58.8% of households in Lamoille County, Vermont own their home, higher than the Vermont average of 58.2%.
What is the vacancy rate in Lamoille County, Vermont?
The housing vacancy rate in Lamoille County, Vermont is 19.2%, lower than the Vermont average of 20.1%.