The top rental markets in Vermont are Ludlow, Barre, and Burlington.
The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.
Vermont Rental Trends:
Vermont is located in the New England region and thrives off of tourism, insurance, government, and forestry. Jobs and home values are on the rise and rents are affordable for this region. Here are some highlights from the top rental markets in the Green Mountain State.
Days on Market:
The city with the lowest days on market is Barre at 12 – under the national average which sits at 15 days; Burlington has the highest number of days on market at 22.
The top two towns for the largest amount of leads per listing are below the national average sitting at 38. Here they are:
- Barre – 36 leads per listing
- Ludlow – 13 leads per listing
Average Rent: (2 bedroom listings)
With the national average rent at $1,207 for a two-bedroom, Ludlow comes below that with the lowest average rent of $973 for a two-bedroom compared to the highest rent in Vermont at $1,586 in Burlington.
Median Home Sale Price:
According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,000. Vermont’s highest median sale price comes above that at $355,000 in Burlington with its lowest median sale price at $154,000 in Barre.
Vermont’s median income rings in at $48,840 – above the national average at $48,500.
Security Deposit Trends:
Security deposits have increased and decreased in Vermont’s cities between 2018 and 2019. With the largest being an increase of 20% in Ludlow at $1,500, and the largest decrease in Burlington at -42.86% with the current average at around $1,200 – the same as the national average for security deposits which is $1,200.
All of Vermont’s cities have a livability score of 49 or higher with the highest being Burlington at 63!
Please visit here for our full methodology.
Whether you’ve found the best investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.