The housing market in the Burlington-South Burlington, VT Metro Area is very strong compared to the rest of the US. The median value of a house in this area is $416,700, significantly higher than the national average of $338,100. Over the past year, house appreciation in the area has increased by 14.83%, more than double the national rate of 8.27%. This suggests that home values will continue to grow at a rapid pace as demand for housing grows and availability remains low. In addition, mortgage rates remain low and interest rates are likely to go even lower in 2020. All these factors point to a robust housing market in Burlington-South Burlington, VT Metro Area for years to come.
The median home cost in Burlington-South Burlington Metro Area is $416,700. Home appreciation the last 10 years has been 68.9%. Home Appreciation in Burlington-South Burlington Metro Area is up 18.6%.
Average Age of Homes
- The median age of Burlington-South Burlington Metro Area real estate is 40 years old
The Rental Market in Burlington-South Burlington Metro Area
- Renters make up 29.3% of the Burlington-South Burlington Metro Area population
- 0.7% of houses and apartments in Burlington-South Burlington Metro Area, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.