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.

vermont

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

When looking at the overall cost of living in Vermont, it is important to consider various factors that can impact the expenses of living in the state. Housing costs in Vermont can vary significantly depending on location, with larger cities and popular tourist destinations often having higher housing prices compared to more rural areas. Additionally, utilities, groceries, healthcare, and transportation costs can also contribute to the overall cost of living in Vermont.

For residents already living in Vermont, the cost of living can be a significant factor in their everyday lives. High housing costs can make it challenging for some residents to find affordable and suitable housing, especially in popular areas. The cost of utilities and groceries can also add up quickly, making it essential for residents to budget and plan accordingly to meet their expenses.

For those considering relocating to Vermont, the cost of living can be a significant consideration. While the state offers many benefits, such as access to outdoor activities, a strong sense of community, and excellent schools, the higher cost of living may be a barrier for some individuals and families. Prospective residents will need to weigh the advantages of living in Vermont against the potentially higher expenses.

Despite the challenges that may come with the cost of living in Vermont, there are also positive aspects to consider. Vermont offers a high quality of life, with access to outdoor recreation activities, excellent healthcare options, and a strong sense of community. Residents often cite the beautiful landscapes, the friendly and welcoming communities, and the slower pace of life as reasons that make Vermont a desirable place to live.

In addition, the cost of living in Vermont may be offset by the state’s progressive policies and programs that aim to support residents. Vermont has implemented initiatives such as affordable housing programs, renewable energy incentives, and healthcare initiatives that can help mitigate some of the financial burdens that residents may face.

Overall, while the cost of living in Vermont may present challenges for residents, it is important to consider the full picture of what the state has to offer. The high quality of life, sense of community, and access to outdoor activities may outweigh the financial costs for many residents. By being aware of the expenses associated with living in Vermont and planning accordingly, residents can make informed decisions about their financial future in the Green Mountain State.

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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