Below find some historical data on Chittenden County rental vacancy rates and the recent 2015-2017 doubling of the recent history, 2010-2014, average of 1.4% to mid-2015 to mid-2017 of 3%. That that 3% average is above the two-decade period of surveys of County rental vacancy rates done by the firm Allen and Brooks through 2014 when the highest rate semi-annual rate ever recorded was 2.7%.
Chittenden
County rental vacancy rates information (from press reports of
semi-annual Allen and Brooks rental and housing survey of Chittenden
County)
--1995
to 2014 (36 semi-annual reports)--vacancy rate never above 3.0%
--peak
rate to July 2015, 2.7%
--Average
for 2016 3.25% (Chittenden County Regional Planning Commission)(
--recent
rates (%)
Ave 2010-2014 1.4
June 2015 2.8 (highest since Allen and Brooks started surveys
two decades ago)
December
2015 3.0
June 2016 2.1
December 2016 4.4
June 2017 2.5
June 2015-June 2017 3.0
--resurgence
of housing construction in Burlington since 2013 (over 2,500 units
built, in process of development) along with continuing balance of
County ongoing expansion lead to an increased vacancy rate
--2.8%
vacancy rate June 2015, highest since Allen and Brooks survey firm
began semi-annual survey in two decades
--vacancy
rate continued high hitting high of 4.4% in December 2016
--average
of 3.0% June 2015 to June 2017 (two years) compares to 2010-2014
average of 1.4%
--snapshot
vacancy surveys show in summer 2017 about 500 apartments are
available to rent today in Burlington alone
--Add
to this likely declines in students from both demographic trends and
other states (two-thirds of UVM students are out-of-staters) using
incentives to keep their college bound students home. New York, for
example, starts it free tuition for residents in all public
universities this fall.
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