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As Burlington’s housing market tightens, renters are reporting extreme difficulty in finding suitable and affordable housing in the Burlington area. Over the past decade, Chittenden County’s rental vacancy has hovered around 2%. The figure rose to 2.6% during the pandemic but has plummeted to 1.1% in a recent survey conducted by Allen, Brooks, and Minor. Landlords are reporting unusually high demand on their postings with one landlord reporting over 50 inquiries in a two week span on a single vacancy.
Vermont has seen a large increase of out of staters migrating which has squeezed the market even more. Landlords are also facing pressure as a city wide reassessment on property values has increased property taxes. These factors have ramped up the demand as well as the cost of living in Chittenden County.
For more details check out the Vermont Digger Article, “Burlington’s tightening housing market has renters scrambling”
** If you are interested in learning more about the Burlington Housing Market please give Steve a call at  846-9575 or email us at Team@LipkinAudette.com