The rental market in Chittenden County remains tight, with a low vacancy rate and increasing monthly rents. Pressure in the rental market is hopefully somewhat alleviated by current and upcoming construction projects. The 863 new units projected to open in 2024 is 65% higher than the units which opened in 2023. Currently, 831 units are projected to open in 2025, most of which will be in Essex/Essex Jct. (201 units or 24%), followed by South Burlington at 187 units or 22.5%.
| UNIT TYPE | GENERAL RANGE | MEDIAN | ||||||
|---|---|---|---|---|---|---|---|---|
| Sudio, 1 bath | $1,300 - $2,900 | $1,700 +/- | ||||||
| 1 bedroom | $1,400 - $3,200 | $1,950 +/- | ||||||
| 2 bedroom, 1 bath | $1,675 - $3,900 | $2,200 +/- | ||||||
| 2 bedroom, 2 bath | $1,850 - $4,500 | $2,500 +/- |