What Is The Cost Of Living In Vermont?May 23, 2023
Before you pack your things and head east to Vermont know the cost of living in Vermont. You will also want to do your homework to get a better idea of Vermont’s cost of living. Vermont is also known as the Green Mountain State because of its majestic green mountains with natural forested beauty. With panoramic hiking trails in the warmer months, the overgrown mountains turn into destination-worthy ski trails come winter. Let’s roll down to know the cost of living in Vermont.
What Is The Cost Of Living In Vermont?
The cost of living in Vermont depends on which area you are living in. To get a better idea of the average cost of living in Vermont, take a look over the table given below. In this table, Vermont’s cost of living is given based on the US average of 100. An amount more than 100 means Vermont is more expensive than the national average and vice versa.
|Cost Of Living For||Vermont||USA|
|Median Home Cost||$294,100||$291,700|
Note: The cost of living given above is based on the year of 2019, now it may be changed due to increased inflation rate of the country.
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One of the first things you will need to do before you move is build a budget. Since housing costs tend to be the most important chunk of living expenses. Despite its beauty, the Average rent in Vermont is relatively cheaper than the national average. The table given below will give you the approximate rent of 1 and 2-bedroom houses, including the cost of living in Burlington, Vermont.
|City||Approx 1 Bedroom Rent||Approx 2 Bedroom Rent|
The average cost of one person is around $3,690, approximately $307.50 per month. While this figure is relatively low, don’t forget that it is associated with food purchases at the local shaw’s, Walmart, or Price Chopper and prepared in the home. So, the cost of living in Vermont compared to other states is low. To know about the cost of dinner for 2 people, take a close look over the table given below.
|City||Approx Dinner For 2|
In the state of Vermont, you can increase your savings by using public transportation and inputting your information into the VPTA’s Gas Saving Calculator. According to the cost of living by state, Vermont the average annual transportation costs come out to about $4332 per person.
The expenses are not finished yet. Here are the other expenses are given,
When you see the cost of living in Vermont vs Texas, you find Texas is expensive in the health care cost. Having proper health care ensures you get the appropriate treatment should unexpected emergencies arise. One person can anticipate paying $7032 for medical care in a year.
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The cost of living in Vermont vs New York shows Vermont is cheaper because of low utility bills as compared to the national average. The average cost of monthly utilities, including electricity, cooling, water, heating, and garbage collection for a 915 square foot apartment is $170.41 per month.
Internet is an important factor in daily life. So, the cost of the Internet in Vermont is not fixed and varies according to the provider. It may also change with time. The lowest cost of internet in Vermont is $39.99 per month namely Xfinity.
In Vermont’s major cities, the average monthly cost of a fitness club is affordable, at $56.25 and somewhere $48.33 per month. In the summer months, you can save some extra cash by enjoying some of the outdoor fitness opportunities.
In Addition to the outdoor enjoyment, Vermont also offers various national and state parks for entertainment. It is the home to a national park, which charges a minimal entry fee of &8 per person, per day. You can also visit the Appalachian National Scenic Trail, Marsh-Billings-Rockefeller National Park, and many more.
All is best in Vermont, but one major downside of living in Vermont is its progressive income tax rate, which is one of the highest in the nation. The state tax rate is 6%, allowing some cities to charge an additional 1% on top of that.
How Much Do You Need To Make To Live In Vermont?
Statewide, the average annual salary you need to live comfortably for a family of four is $94,045. The median household income for Vermont residents is around $60,000, meaning you may need to budget wisely to cover all your expenses. In 2021, Vermont’s minimum wage increased from $10.96 to $11.75 per hour.
Is Vermont An Affordable Place To Live?
However, these benefits come at a price: Vermont has a higher cost of living than many other states. That doesn’t mean that you can’t find affordable living here, though.
What Is The Average Cost Of A Home In Vermont?
The median Vermont primary home sold for $259,900 during the first six months of 2021, compared to $245,000 throughout 2020, a six percent increase. This aligns with the 6.9% price increase seen between 2019 and 2020, suggesting that the state is on track for significant but steady growth in home sale prices.
Is Moving To Vermont A Good Idea?
One of the Safest States in America – Vermont has such low crime rates; it’s consistently at the top of the charts for safety. This makes it a great place for families, retirees and pretty much anyone looking for a secure and safe place to live.
Is Vermont More Expensive Than New York?
The cost of living in Burlington, VT is -32.3% lower than in New York, NY. You would have to earn a salary of $40,628 to maintain your current standard of living.
Are Winters Harsh In Vermont?
Vermont has some seriously brutal winters, with most areas averaging around 8 feet of snow. But—in the same vein of places like Colorado—Vermonters actually seem to relish in the inability to drive anything without chains.
Why Don’t More People Live In Vermont?
The state lacks the cities and transportation and other resources that have helped its neighbors weather the demographic storm. Burlington, Vermont’s biggest city, has a population of about 42,000 people. When you compare each state’s largest city, it’s easily the smallest.
Is Vermont Still Offering Money To Move There?
Worker Relocation Incentive Program now fully subscribed
In total, 435 new workers and their families have moved to Vermont utilizing these programs. To build upon the success of previous efforts, the Vermont Legislature passed new legislation in 2022 allocating $3.09 million to create a new iteration of the program.
What Is Vermont Most Known For?
What Is Vermont Known For. Vermont is known for its natural beauty, small town charm and maple syrup, which is made from the sap of sugar maples that grow in the state. Vermont also produces a lot of dairy products, including cheese and yogurt.
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Now you know what is the cost of living in Vermont. And from this you agree to, it is hard to find reasons not to want to live in Vermont. Do you know? The salary to live in Vermont. So, the state of Vermont is relatively low, making the living wage in Vermont $14.93 per hour for a single person. If you are looking to move somewhere where you can fully enjoy picturesque mountainscapes, the state of Vermont might be the place for you. But don’t ignore the cost of living in Vermont.
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