Vermont Cost Of Living Statistics


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Steve Goldstein
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Vermont Cost Of Living Statistics 2023: Facts about Cost Of Living in Vermont reflect the current socio-economic condition of the state.

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LLCBuddy editorial team did hours of research, collected all important statistics on Vermont Cost Of Living, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to start a Vermont LLC business in 2023? Maybe for educational purposes, business research, or personal curiosity, whatever it is – it’s always a good idea to gather more information.

How much of an impact will Vermont Cost Of Living Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Vermont Cost Of Living Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 11 Vermont Cost Of Living Statistics on this page 🙂

Vermont Cost Of Living “Latest” Statistics

  • Despite the fact that nurse earnings in Vermont are 9% below the national average, the cost of living there is still high.[1]
  • According to the national association of realtors, the typical sales price of an existing house in the United States is $353,900, while the average home in Vermont will cost $314,562 in 2021.[2]
  • In Vermont, housing costs are 11.5% cheaper than the national average.[3]

Vermont Cost Of Living “Living” Statistics

  • The bureau of economic analysis estimates that Vermont’s median resident pays around $47,397 in annual living expenses.[2]

Vermont Cost Of Living “Other” Statistics

  • Vermont is hoping that by the year 2050, at least 90% of the energy it uses would come from renewable sources.[2]
  • Vermont’s taxes have the highest marginal tax rate at 87.5%.[2]
  • The Tax Foundation’s State Individual Income Tax Rates and Brackets for 2021 placed Vermont as having the 4th highest tax burden, with an effective tax rate of 12.3%.[2]
  • Even with high utility rates, Vermont leads the country in the production of renewable energy, and in the year 2020, it actually produced 10% of its power from renewable sources.[2]
  • Homes in Vermont’s Chittenden County, which is home to the vibrant metropolis of Burlington, sold on average for more than 12% more money.[3]
  • 13% of Vermont residents have resorted to using firewood to heat their houses as it is the second most common fuel in the state.[2]
  • According to the U.S. Census Bureau, Vermont has a supply of 339,439 homes.[2]

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How Useful is Vermont Cost of Living

One of the most notable aspects of Vermont’s cost of living is its affordability compared to other areas in the United States. While it may not be the least expensive state to live in, Vermont offers a relatively moderate cost of living in comparison to states with higher living expenses. This can make Vermont an attractive option for individuals and families looking to settle down in a comfortable environment without breaking the bank.

The cost of housing is a key component of the overall cost of living in Vermont. While housing prices may vary depending on the location within the state, Vermont generally offers reasonably priced housing options compared to other states with higher demand and costs for real estate. This can provide residents with an opportunity to own or rent a home without facing exorbitant prices that may be unattainable for many individuals and families.

In addition to housing, other expenses such as groceries, utilities, and healthcare also play a role in the overall cost of living in Vermont. Fortunately, these costs tend to be more reasonable in Vermont compared to states with higher living expenses. This can make it easier for residents to manage their budget and maintain a comfortable standard of living without excessive financial strain.

Despite the relatively affordable cost of living in Vermont, it is important to acknowledge that certain factors may still pose challenges for individuals and families. For example, wage levels in Vermont are not always commensurate with the cost of living, which can make it difficult for some residents to make ends meet. Additionally, certain regions within the state may have higher living expenses, particularly in areas with greater demand for housing or a higher cost of living overall.

Overall, the Vermont cost of living can be considered useful in providing residents with a sense of the financial requirements associated with living in the state. While Vermont generally offers a moderately priced cost of living compared to other areas, it is important for individuals and families to carefully evaluate their own financial situation and consider how the cost of living in Vermont may impact their overall budget and lifestyle. By being informed about the cost of living in Vermont, residents can make more informed decisions about where to live and how to manage their finances effectively.

Reference

  1. trustedhealth – https://www.trustedhealth.com/nurse-salary-guide/vermont
  2. sofi – https://www.sofi.com/cost-of-living-in-vermont/
  3. upnest – https://www.upnest.com/1/post/cost-of-living-vermont/

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