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Everyone wants a home that mixes affordability with comfort and Vermont does this very well. Families love the Green Mountain State's beaches, midlands, and mountains as tourists before moving here and calling it home.
But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.
These are the places in Vermont that cost a pretty penny -- the most expensive cities in the state.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Vermont for 2020.
So where is the most expensive place to live in Vermont? That would be Burlington.
the 2014-2018 American Community Survey for the 20 places in Vermont with more than 1,000 people.
What's the most expensive place to live in Vermont? Well, HomeSnacks crunched the numbers and discovered that Burlington is the most expensive place to live in Vermont.
So hopefully Poultney (the cheapest place to live in Vermont) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Vermont and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Vermont For 2020
Burlington is the most populous city in the U.S. state of Vermont and the seat of Chittenden County. It is located 45 miles south of the Canada-United States border and 94 miles south of Canada's second most populous municipality, Montreal. The city's population was 42,452 according to a 2015 U.S. census estimate. It is the least populous municipality in the United States to be the most populous incorporated area in a state.
The median income in Burlington comes in at $50,324 and the median home value is $279,000 for 2020.
The median income in Woodstock comes in at $61,071 and the median home value is $396,200 for 2020.
South Burlington is a city in Chittenden County, Vermont, United States. It is the second largest city in the U.S. state of Vermont and home to the headquarters of Ben & Jerry's and Vermont's largest mall, the University Mall. It is also one in the principal municipalities of the Burlington, Vermont metropolitan area.
The median income in South Burlington comes in at $71,017 and the median home value is $299,100 for 2020.
Winooski is a city in Chittenden County, Vermont, United States. Located on the Winooski River, as of the 2010 U.S. Census the municipal population was 7,267. The city is the most densely populated municipality in northern New England, an area comprising the states of Maine, New Hampshire, and Vermont. It is the smallest in area of Vermont's nine incorporated cities. As part of the Burlington, Vermont metropolitan area, it is bordered by Burlington, Colchester, and South Burlington.
The median income in Winooski comes in at $49,663 and the median home value is $221,800 for 2020.
The median income in Johnson comes in at $33,125 and the median home value is $162,800 for 2020.
The median income in Waterbury comes in at $56,184 and the median home value is $234,100 for 2020.
The median income in Bellows Falls comes in at $32,576 and the median home value is $130,800 for 2020.
The median income in Morrisville comes in at $42,583 and the median home value is $169,700 for 2020.
Essex Junction is a village located within the town of Essex in Chittenden County, Vermont, United States. The population was 9,271 at the 2010 census. It was incorporated on November 15, 1892.
The median income in Essex Junction comes in at $75,439 and the median home value is $283,400 for 2020.
The median income in Barre comes in at $39,187 and the median home value is $154,300 for 2020.
How We Determined The Most Expensive Places To Live In The Green Mountain State For 2020
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it's actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2014-2018 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in Vermont to figure out which is the most expensive.
What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 20 places in Vermont that have more than 1,000 people.
The place with the highest cost of living in Vermont according to the data is Burlington. You can download the data here.
Taking A Chunk Out Of Your Paycheck In Vermont For 2020
Well there you have it, the places in Vermont that have the highest cost of living, with Burlington ranking as the most expensive city in the Green Mountain State.
Here's a look at the most affordable cities in Vermont according to the data:
- Enosburg Falls
For more Vermont reading, check out:
- 10 Best Places To Live In Vermont
- These Are The 10 Best Counties To Live In Vermont
- 10 Cheapest Places To Live In Vermont
- 10 Best Places To Raise A Family In Vermont
- These Are The 10 Best Places To Retire In Vermont
- These Are The 10 Richest Cities In Vermont
- 10 Safest Places In Vermont
Detailed List Of The Most Expensive Cities In Vermont