Location: Addison County, VT | Metro: Burlington-South Burlington, VT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,490 |
| 1 Bedroom | $1,660 |
| 2 Bedrooms | $2,120 |
| 3 Bedrooms | $2,640 |
| 4 Bedrooms | $2,940 |
| 5 Bedrooms | $3,410 |
| 6 Bedrooms | $3,819 |
| 7 Bedrooms | $4,125 |
| 8 Bedrooms | $4,331 |
U.S. Census Bureau data (2024)
The market in ZIP code 05462, located in Vermont, presents a dynamic scenario that reflects the ongoing tensions between rental affordability and homeownership costs. With a Fair Market Rent (FMR) of $1610 for the fiscal year 2024, the government's benchmark for affordable housing indicates a higher threshold compared to the actual market rent of $984, as reported by the Census American Community Survey. This suggests a significant gap between what is deemed affordable and the current market rates, pointing towards potential areas of adjustment.
The median home value of $468,947 places considerable financial strain on prospective buyers, especially when juxtaposed against the relatively lower market rents. While specific data on price-cut shares and days on market (DOM) are unavailable, the fact that the FMR is substantially above the market rent implies a situation where supply might be slightly outpacing demand in the rental sector. Landlords and small-portfolio investors should take note of this trend, as it could indicate a competitive market where maintaining occupancy requires attention to property quality and pricing.
A 20.1% renter share provides insight into the long-term housing pressures faced by residents. A lower percentage of renters relative to homeowners can imply that there is less immediate pressure for rental units, but it also means that a significant portion of the population is locked into ownership, which can limit their ability to move if economic conditions change. For investors, this suggests a market that values homeownership, which could mean steady demand for rental properties as a fallback option during economic downturns or for those who cannot afford to buy.
In summary, ZIP 05462 offers a mixed picture of housing dynamics. The disparity between FMR and market rent signals a potentially oversupplied rental market, while the high median home value and moderate renter share suggest a community that values homeownership but still maintains a stable, albeit smaller, rental sector. These factors create a market in motion, where careful management and strategic investment can lead to success for landlords and small-portfolio investors.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.