5 affordable places to live in Vermont
Known for its mountains, Vermont is a great place to call home. Here are some of the state’s most affordable areas.
1. Bennington
Just outside the Green Mountain National Forest, Bennington is loaded with charm. Its historic downtown features restaurants, cafes, and a host of unique shops. The median home value in Bennington is $165,500, according to Niche, well below the median home value statewide -- $261,265, according to Zillow. Meanwhile, property taxes in Bennington County average 1.6% of a home's assessed value as reported by Tax-Rates.org. That's in line with Vermont's average statewide -- 1.59% of a home's assessed value.
2. Rutland
About 30 minutes from the New York border, Rutland is loaded with eateries and shops, and draws in young professionals and retirees alike. The median home value in Rutland is $152,800, while the average property tax rate is 1.73% of a home's assessed value -- only a touch above the average statewide.
3. Milton
Known for its network of parks and trails, Milton is a draw for outdoor enthusiasts of all ages. Around 30 minutes from Burlington, it's also a good place for young professionals to call home. The median home value in Milton is $241,800, below the median property value statewide. Meanwhile, property taxes in Chittenden County average 1.61% of a home's assessed value.
4. Essex
A 15-minute drive from Burlington, Essex is loaded with parks and outdoor spaces. The area tends to attract families and young professionals alike. The median home value in Essex is $287,000, which means you may pay a slight premium for proximity to the jobs, shops, and eateries in Burlington. Property taxes in Chittenden County average 1.61% of a home's assessed value, in line with Vermont's average property tax rate.
5. Brattleboro
Right on the New Hampshire border and very near the Massachusetts border, Brattleboro is known for its arts community and walkable downtown. The median home value in Brattleboro is $199,400, and the average property tax rate in Windham County is 1.74% of a home's assessed value.
Though affordable housing may be fairly easy to come by in Vermont, keep your personal costs low by snagging the most competitive mortgage rate. Before you apply, make sure your credit score is solid, and if need be, pay off debt to bring down your debt-to-income ratio. These steps could help you snag a great deal on a mortgage, and that could make your life easier for years.
Check out our mortgage calculator to help you estimate your monthly payment, including principal, interest, insurance, taxes, and PMI.
