Vermont Young Professionals, a wing of the Lake Champlain Regional Chamber of Commerce published a survey on housing in greater Burlington earlier this week, as reported by Vermont Public Radio's Annie Russell. Four-hundred respondents between the ages of 20 and 40 were asked to answer questions about affordability, housing preferences, and current living situations.
- 63% of those surveyed currently rent their residence.
- Respondents were split on overall satisfaction with 52% of those surveyed reporting satisfaction with their current housing situation.
- For individuals who were not satisfied with their housing, the top reasons indicated were the need for more space (58%) followed closely by the inability to afford the purchase of a home (56%).
- When asked to name the desired characteristics of a residence, respondents indicated designated parking, affordability, and easy maintenance/upkeep of the property as the top preferences.
- The survey found that the majority of individuals pay between $500 and $1500 per month for rent or mortgage.
- 57% of renters pay more than 30% of take home pay on rent. Compared to 35% of homeowners.
As always, visit LipVt.com for up-to-date real estate listings.