Vermont cost of living
+1 more
Moving to a new state brings with it both challenges and rewards. Figuring out the practical side of things can free you up to focus on finding not just what you need in a new home but also what you want. Then you can focus on building relationships with new colleagues and friends and making your new state home.
Moving can also be costly and emotionally draining. Whether you're relocating to Vermont for a job, a change of scenery or any other reason, understanding the cost of living in the state is crucial for a smooth transition.
The median rent in Vermont is $1,812.50, versus the national median rent of $1,529.01.
Jump to insightResidents in Vermont spend $249.38 weekly on food at home and $69.84 on food out.
Jump to insightAs of publishing, the average price per gallon of regular gas is $3.49 in Vermont.
Jump to insightRecent data shows that employees in Vermont pay $2,071 annually for employee-sponsored health insurance coverage.
Jump to insightHousing costs in Vermont
According to recent data from Zillow, the median rent in Vermont is $1,812.50, while the national median rent is $1,529.01.
Data from the U.S. Census Bureau shows rent prices in Vermont broken down by home size. As of publishing, one-bedroom apartments in Vermont had a median cost of $952 per month, and the two-bedroom median cost was $1,241 per month. Three- and four-bedroom homes had median costs of $1,342 and $1,322, respectively.
As of publishing, the median home price in Vermont is $386,000, according to Redfin. The U.S. median home price is $436,000.
The median home price in the Burlington-South Burlington metro area was $448,900 in the first quarter of 2024, according to the National Association of Realtors (NAR).
Vermont ranks No. 4 for highest effective property tax rates in the nation, according to the most recent Tax Foundation data, at 1.83%.
» COMPARE: Best moving companies
Food costs in Vermont
According to recent census data, the average spent on food to prepare at home each week in Vermont is $249.38, compared with the U.S. average of $270.21 at the time. Vermont residents spend an average of $69.84 weekly on food prepared outside the home, compared with the U.S. average of $109.21.
Transportation costs in Vermont
According to recent data from AAA, the average price per gallon of regular gas in Vermont is $3.49, compared with the U.S. average of $3.46.
The most recent National Association of Insurance Commissioners data shows that the average auto insurance premium (liability, collision and comprehensive coverage combined) in Vermont is $845.79, versus the national average of $1,189.50.
Health care costs in Vermont
The most recent KFF data shows that, on average, employer-sponsored health insurance cost Vermont employees $2,071 annually, with employers covering the remaining $6,346 of the $8,417 total cost.
Nationwide, the average employee contribution was $1,637 out of a total premium of $7,590.
Utility costs in Vermont
According to the most recent data from the Energy Information Administration, the average monthly electric bill in Vermont is $113.21, versus $135.25 countrywide.
Recent EIA data also shows that natural gas in Vermont costs $14.86 per thousand cubic feet, compared with $13.25 nationally.
FAQ
How does the cost of living in Vermont compare with the national average?
Our 2023 cost of living study found that the Green Mountain State is one of the 10 most expensive states to live in but less expensive than several of its New England neighbors.
Is Vermont safe?
Yes, we ranked Vermont the fifth-safest state in 2023.
Is Vermont a good state for renters?
Unfortunately, Vermont is a tough market for renters, according to our 2024 analysis, in part due to a low vacancy rate.
Article sources
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
- Zillow, “Housing Data.” Accessed May 14, 2024.
- Redfin, "Redfin Data Center." Accessed May 14, 2024.
- Tax Foundation, "Where Do People Pay the Most in Property Taxes?" Accessed May 14, 2024.
- United States Census Bureau, "Week 63 Household Pulse Survey: October 18 - October 30." Accessed May 14, 2024.
- AAA Gas Prices, "State Gas Price Averages." Accessed June 14, 2024.
- National Association of Insurance Commissioners, "2020/2021 Auto Insurance Database Report." Accessed May 14, 2024.
- KFF, "Average Annual Single Premium per Enrolled Employee For Employer-Based Health Insurance." Accessed May 14, 2024.
- U.S. Energy Information Administration, "2022 Average Monthly Bill- Residential." Accessed May 14, 2024.
