Home Value Trail

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State

Vermont

14 counties with an index · 6 metro and micro areas · 134 ZIP codes · 49 permit-issuing places · 644,663 residents (2025 est.)

FHFA quarterly index through 2026 Q2Annual index 1975–2025Permits through August 2026
FHFA all-transactions house price index for Vermont, quarterly from 1975 to 2026 Q2, with the national index rebased to the same start and NBER recessions shadedRecession 1973–75Recession 1980Recession 1981–82Recession 1990–91Recession 2001Recession 2007–09Recession 202005001,0001,50019801990200020102020United States2026: 903
Vermont (100 = first year)United States, rebased to the same startNBER recession

FHFA notes: The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. The line is FHFA's standard quarterly all-transactions index; the comparison table uses FHFA's annual state index from the same family. The index does not give a dollar value for any home.

Vermont's FHFA house price index starts in 1975. Through 2025 it has risen +936.6%; over the ten years to 2025 the rise was +88.8% (+6.6% a year), close to the national +85.0%.

The quarterly index through 2026 Q2 is +4.3% on a year earlier and +2.0% on the quarter; nationally +3.0% and +1.1%.

The index peaked in 2007, fell −7.3% to 2013 and regained the peak in 2018; the national index fell −21.3% over 2007–2012.

2,231 housing units were authorised in Vermont in the 12 months to August 2026, 3.5 per 1,000 residents against 4.1 nationally; that is +2.1% on the previous 12 months. 14 counties, 6 metro and micro areas, 134 ZIP codes and 49 permit-issuing places in the state have their own pages.

+4.3%year to 2026 Q2, quarterly indexUS +3.0%
+3.6%1 year, 2024–2025US +2.8%
+64.1%5 yearsUS +47.0%
+88.8%10 years+6.6% a year annualised
+201.3%since 2000US +158.3%
2,231units permitted, 12 months3.5 per 1,000 residents · US 4.1

Same span, state and nation

Change in the FHFA indexVermontUnited States
1 year (2024–2025)+3.6%+2.8%
5 years (2020–2025)+64.1%+47.0%
10 years (2015–2025)+88.8%+85.0%
20 years (2005–2025)+95.9%+79.1%
Since 2000+201.3%+158.3%
Since 1975+936.6%+960.7%
10-year annualised+6.6%+6.3%
20-year annualised+3.4%+3.0%

Decade by decade

DecadeChangeUnited States
1980s (1980–1990)+100.2%+68.2%
1990s (1990–2000)+16.3%+33.9%
2000s (2000–2010)+60.3%+29.7%
2010s (2010–2020)+14.6%+35.5%
2020s so far (2020–2025)+64.1%+47.0%

FHFA reports each index with a value of 100 in its base period, the first year the area has enough transactions (1975 here). A decade's change is the index at the end of the decade divided by the index at the start, so it does not depend on the base year; the United States column covers the same years. Decades before 1975 are not shown.

Peak-to-low declines

PeakLowDeclinePeak regained
20072013−7.3%2018

Purchase-only index

FHFA also publishes a purchase-only index, built from sales prices alone (no refinance appraisals). It starts in 1991 and is drawn here on its own base.

FHFA purchase-only house price index for Vermont, quarterly, with the national purchase-only index rebased to the same startRecession 1990–91Recession 2001Recession 2007–09Recession 202001002003004005001995200020052010201520202025United States, purchase-only2026: 457
Vermont, purchase-only (100 = first year)United States, purchase-only, rebased to the same startNBER recession

Counties

Ranked by ten-year change in FHFA's annual county index to 2025. Permits are housing units authorised in the 12 months to August 2026.

County1 year10 yearsSince 2000Units, 12 monthsPer 1,000Index through
Essex County+8.2%+146.3%—91.52025
Lamoille County+12.3%+120.7%+258.4%1495.72025
Washington County+6.0%+97.6%+234.9%1793.02025
Windham County+2.0%+90.9%+172.0%1292.92025
Rutland County0.0%+89.7%+166.9%891.52025
Orange County+6.7%+89.2%+189.3%581.92025
Caledonia County+2.6%+88.4%+193.1%1063.52025
Franklin County+7.2%+88.1%+205.6%1673.32025
Chittenden County+2.9%+87.7%+222.4%9465.62025
Addison County+5.1%+87.2%+214.7%1263.32025
Windsor County−1.8%+86.5%+173.1%1172.02025
Grand Isle County+7.1%+79.6%+233.5%172.32025
Orleans County−2.6%+78.7%+173.3%903.32025
Bennington County+4.6%+78.2%+162.1%511.42025

Metro and micropolitan areas

Areas with any county in Vermont; multi-state areas appear under each of their states.

AreaType1 year10 yearsYear to 2026 Q2Units, 12 months
Lebanon-Claremont, NH-VTMicro+4.0%+106.3%—684
Barre, VTMicro+6.0%+97.6%—179
Brattleboro, VTMicro+2.0%+90.9%—129
Rutland, VTMicro0.0%+89.7%—89
Burlington-South Burlington, VTMetro+3.9%+87.1%+0.8%1,130
Bennington, VTMicro+4.6%+78.2%—51

Building permits

Housing units authorised in Vermont by month, latest 60 months05001,000Sep 2021: 172 units (100 single-family, 72 in multi-unit buildings)Sep 2021Oct 2021: 198 units (170 single-family, 28 in multi-unit buildings)Nov 2021: 135 units (74 single-family, 61 in multi-unit buildings)Dec 2021: 239 units (49 single-family, 190 in multi-unit buildings)Jan 2022: 105 units (76 single-family, 29 in multi-unit buildings)Feb 2022: 119 units (81 single-family, 38 in multi-unit buildings)Mar 2022: 172 units (109 single-family, 63 in multi-unit buildings)Apr 2022: 194 units (143 single-family, 51 in multi-unit buildings)May 2022: 184 units (130 single-family, 54 in multi-unit buildings)Jun 2022: 232 units (148 single-family, 84 in multi-unit buildings)Jul 2022: 261 units (135 single-family, 126 in multi-unit buildings)Aug 2022: 174 units (138 single-family, 36 in multi-unit buildings)Sep 2022: 207 units (116 single-family, 91 in multi-unit buildings)Sep 2022Oct 2022: 117 units (97 single-family, 20 in multi-unit buildings)Nov 2022: 119 units (87 single-family, 32 in multi-unit buildings)Dec 2022: 108 units (60 single-family, 48 in multi-unit buildings)Jan 2023: 71 units (51 single-family, 20 in multi-unit buildings)Feb 2023: 84 units (45 single-family, 39 in multi-unit buildings)Mar 2023: 328 units (109 single-family, 219 in multi-unit buildings)Apr 2023: 165 units (137 single-family, 28 in multi-unit buildings)May 2023: 210 units (157 single-family, 53 in multi-unit buildings)Jun 2023: 229 units (141 single-family, 88 in multi-unit buildings)Jul 2023: 198 units (99 single-family, 99 in multi-unit buildings)Aug 2023: 249 units (123 single-family, 126 in multi-unit buildings)Sep 2023: 213 units (110 single-family, 103 in multi-unit buildings)Sep 2023Oct 2023: 329 units (105 single-family, 224 in multi-unit buildings)Nov 2023: 99 units (84 single-family, 15 in multi-unit buildings)Dec 2023: 71 units (53 single-family, 18 in multi-unit buildings)Jan 2024: 133 units (99 single-family, 34 in multi-unit buildings)Feb 2024: 168 units (82 single-family, 86 in multi-unit buildings)Mar 2024: 158 units (88 single-family, 70 in multi-unit buildings)Apr 2024: 286 units (155 single-family, 131 in multi-unit buildings)May 2024: 296 units (150 single-family, 146 in multi-unit buildings)Jun 2024: 196 units (125 single-family, 71 in multi-unit buildings)Jul 2024: 344 units (129 single-family, 215 in multi-unit buildings)Aug 2024: 181 units (132 single-family, 49 in multi-unit buildings)Sep 2024: 150 units (118 single-family, 32 in multi-unit buildings)Sep 2024Oct 2024: 153 units (104 single-family, 49 in multi-unit buildings)Nov 2024: 132 units (112 single-family, 20 in multi-unit buildings)Dec 2024: 428 units (85 single-family, 343 in multi-unit buildings)Jan 2025: 223 units (100 single-family, 123 in multi-unit buildings)Feb 2025: 91 units (64 single-family, 27 in multi-unit buildings)Mar 2025: 115 units (97 single-family, 18 in multi-unit buildings)Apr 2025: 187 units (156 single-family, 31 in multi-unit buildings)May 2025: 170 units (132 single-family, 38 in multi-unit buildings)Jun 2025: 144 units (118 single-family, 26 in multi-unit buildings)Jul 2025: 194 units (121 single-family, 73 in multi-unit buildings)Aug 2025: 198 units (109 single-family, 89 in multi-unit buildings)Sep 2025: 666 units (134 single-family, 532 in multi-unit buildings)Sep 2025Oct 2025: 229 units (118 single-family, 111 in multi-unit buildings)Nov 2025: 123 units (102 single-family, 21 in multi-unit buildings)Dec 2025: 108 units (57 single-family, 51 in multi-unit buildings)Jan 2026: 197 units (92 single-family, 105 in multi-unit buildings)Feb 2026: 77 units (70 single-family, 7 in multi-unit buildings)Mar 2026: 109 units (77 single-family, 32 in multi-unit buildings)Apr 2026: 134 units (112 single-family, 22 in multi-unit buildings)May 2026: 125 units (103 single-family, 22 in multi-unit buildings)Jun 2026: 179 units (131 single-family, 48 in multi-unit buildings)Jul 2026: 138 units (110 single-family, 28 in multi-unit buildings)Aug 2026: 146 units (124 single-family, 22 in multi-unit buildings)

Housing units authorised in Vermont by month, latest 60 monthssingle-family2+ unit buildings

Housing units authorised in Vermont by year, 1995–202502,0004,0001995: 2,269 units (1,950 single-family, 319 in multi-unit buildings)19951996: 2,070 units (1,872 single-family, 198 in multi-unit buildings)1997: 1,831 units (1,649 single-family, 182 in multi-unit buildings)1998: 2,198 units (1,833 single-family, 365 in multi-unit buildings)1999: 2,600 units (2,187 single-family, 413 in multi-unit buildings)2000: 2,506 units (2,212 single-family, 294 in multi-unit buildings)20002001: 2,747 units (2,349 single-family, 398 in multi-unit buildings)2002: 3,072 units (2,451 single-family, 621 in multi-unit buildings)2003: 2,843 units (2,430 single-family, 413 in multi-unit buildings)2004: 3,588 units (2,686 single-family, 902 in multi-unit buildings)2005: 2,917 units (2,360 single-family, 557 in multi-unit buildings)20052006: 2,626 units (2,071 single-family, 555 in multi-unit buildings)2007: 2,056 units (1,583 single-family, 473 in multi-unit buildings)2008: 1,444 units (1,057 single-family, 387 in multi-unit buildings)2009: 1,367 units (897 single-family, 470 in multi-unit buildings)2010: 1,319 units (980 single-family, 339 in multi-unit buildings)20102011: 1,299 units (805 single-family, 494 in multi-unit buildings)2012: 1,301 units (889 single-family, 412 in multi-unit buildings)2013: 1,499 units (955 single-family, 544 in multi-unit buildings)2014: 1,546 units (978 single-family, 568 in multi-unit buildings)2015: 1,998 units (936 single-family, 1,062 in multi-unit buildings)20152016: 1,771 units (969 single-family, 802 in multi-unit buildings)2017: 1,749 units (983 single-family, 766 in multi-unit buildings)2018: 2,080 units (1,131 single-family, 949 in multi-unit buildings)2019: 1,801 units (987 single-family, 814 in multi-unit buildings)2020: 2,077 units (1,154 single-family, 923 in multi-unit buildings)20202021: 2,319 units (1,361 single-family, 958 in multi-unit buildings)2022: 2,403 units (1,326 single-family, 1,077 in multi-unit buildings)2023: 2,456 units (1,303 single-family, 1,153 in multi-unit buildings)2024: 2,654 units (1,404 single-family, 1,250 in multi-unit buildings)2025: 2,294 units (1,287 single-family, 1,007 in multi-unit buildings)2025

Housing units authorised in Vermont by year, 1995–2025single-family2+ unit buildings

Single-family share of the latest 12 months: 55% (63% nationally). Since 1995: 66,700 units.

Year by year

Each year's index change and permits, with every county's figures for that year.

YearVermont indexUS indexUnits permittedSingle-family
2025+3.6%+2.8%2,2941,287
2024+7.2%+4.9%2,6541,404
2023+13.2%+5.7%2,4561,303
2022+16.1%+15.5%2,4031,326
2021+12.4%+11.6%2,3191,361
2020+3.5%+3.0%2,0771,154
2019+3.7%+4.2%1,801987
2018+3.2%+5.7%2,0801,131
2017+2.7%+5.4%1,749983
2016+1.2%+5.3%1,771969
2015+1.4%+4.4%1,998936
2014+0.2%+6.2%1,546978
2013−0.4%+3.4%1,499955
2012−0.7%−1.8%1,301889
2011−1.0%−4.4%1,299805
2010−1.9%−5.1%1,319980
2009−3.3%−7.5%1,367897
2008−0.2%−4.5%1,4441,057
2007+2.0%+0.6%2,0561,583
2006+7.9%+6.6%2,6262,071
2005+14.5%+12.4%2,9172,360
2004+12.9%+9.2%3,5882,686
2003+5.3%+4.5%2,8432,430
2002+6.1%+5.4%3,0722,451
2001+6.6%+6.7%2,7472,349
2000+8.7%+8.3%2,5062,212
1999+3.9%+4.3%2,6002,187
1998+1.8%+3.7%2,1981,833
1997+0.8%+3.8%1,8311,649
1996+0.9%+3.2%2,0701,872
1995+1.0%+3.7%2,2691,950

Cities issuing the most permits

Housing units authorised in the 12 months to August 2026; every place is listed on its county page.

Questions and answers

How much have home values in Vermont risen over 10 years?

The FHFA index rose +88.8% between 2015 and 2025, +6.6% a year; over 20 years +95.9% and since 2000 +201.3%. Nationally: +85.0%, +79.1% and +158.3%.

Which Vermont counties rose most over 10 years?

Essex County (+146.3%), Lamoille County (+120.7%) and Washington County (+97.6%), by FHFA's annual county index to 2025.

What happened to Vermont home prices in 2008?

The state index peaked in 2007, fell −7.3% to 2013 and regained its peak in 2018.

How many homes are being built in Vermont?

2,231 units were authorised in the 12 months to August 2026: 1,230 single-family and 1,001 in multi-unit buildings, 3.5 per 1,000 residents.

Where does this data come from?

FHFA's quarterly all-transactions state index (through 2026 Q2) and annual state index (updated March 31, 2026); the Census Bureau's Building Permits Survey state and county files through August 2026; vintage 2025 population estimates.

Provenance

Index: Federal Housing Finance Agency, quarterly all-transactions and purchase-only state indexes through 2026 Q2 and annual state index (updated March 31, 2026). Permits: Census Bureau Building Permits Survey state, county and place files through August 2026. Population: Census Bureau vintage 2025 estimates. Public domain. Corrections · FHFA HPI datasets.