Vermont is one of the most beautiful states in the United States, located in New England region. Its name translates to 'Green Mountain State,' but the state is more colorful. A rainbow of colors springs throughout the year as summer gives way to fall and winter gives way to spring. One of the most intriguing aspects of this state is its population, which is currently less than 625,000. To put it in context, the city of Philadelphia alone has a population of 1.5 million people. Its small population makes Vermont a charming and peaceful state. The city also has its own distinct vibe, with small-town warmth evident everywhere. Vermont could be the ideal place to get away from the exhausting city noise. It is perfect for those looking for a peaceful way of life, away from the rush and bustle of metropolitan life.
Quick Facts
- Vermont is the 45th largest state by area and the 49th largest by population in the United States.
- The poverty rate among full-time workers in the previous 12 months was 1.72%. Vermont's average household income is $61,973.
- The median rental fee has been $1,400 per month in previous years, with a median house value of $259,000.
- Vermont's population has decreased in recent years, dropping at a rate of 12% per year.
- The population of Vermont is 622,882.
Vermont in a Nutshell
Vermont may be a landlocked state, but living near Lake Champlain is like being in the sea. The lake provides an excellent environment that mimics the ocean. So, Burlington is an excellent alternative for those used to living near the water. Some other little towns run throughout the coastline. Many visitors and residents also take advantage of the great outdoor activities available. Vermont's large agricultural industry, state forests, and protected landscapes encourage an active lifestyle. Moreover, there are parks, waterfalls, and many campgrounds for family recreation. So, bring a pair of comfortable shoes because trekking becomes a hobby over the summer.
As people begin driving through Vermont, they will notice that something is lacking. On the roadways, there are no billboards with farms heaped up next to them, one after the other. This mystery is because the locals value simplicity. They are proud of their ability to maintain the traditional charm of the New England way of life. The state government approved legislation to ensure that things do not change. They want to continue prohibiting advertisements within the state. Many will also notice that the state loves to shop in ordinary stores rather than malls. But, it does not mean there are be no outlet complexes many sees elsewhere. If needed, there are still Walmarts, but there will be fewer branches in the state.
Economy
The University of Vermont, which employs 5,380 people, is the state's largest employer. IBM, situated in the community of Essex Junction, comes in the second position. In the semiconductor component development sector, there are approximately 5,300 people employed. With around 4,835 employees, Fletcher Allen Health Care is another significant employer. Burlington is home to them and many of the state's leading companies. Additionally, Bruegger's Enterprises Inc, situated in Burlington, employs 2,400 employees.
Compared to the rest of the United States, Vermont has a low cost of living. But, buying a home will depend on where one wants to live. Living in one of the larger cities may be more expensive because there will be more access to everything. Compared to the national living index of 100, the cost of housing in Vermont scores at 88.5.
Employment
There is still plenty of employment opportunities in Vermont despite its small population. A small population might be beneficial because there is less competition to get work. Vermont, for example, has an unemployment rate of 2.8%, which is lower than the national average. This rate is a sign that anyone with any talent can avail of work in the state. Vermont also offers competitive salaries and wages. The state-mandated minimum wage is $10.50 per hour. This offer is higher than the federal minimum wage, making it an excellent workplace area. As a result, individuals starting their careers will fit right in the state.
Making and production-related sectors are common in Vermont. There are breweries, ice cream manufacturing, logging, and coffee and tea manufacturing. And, of course, there is maple syrup production, which is one of the state's greatest exports.
Real Estate in Vermont
According to Zillow, the median price of a house in Vermont is currently $259,000, up 3.6% over the previous year. Furthermore, experts estimate that this figure will continue to rise. Significant home construction across the state in the northern cities backs this claim. Large and new homes are replacing the majority of 1980s residences. From this phenomenon, home prices will only continue to climb. So, expect to pay extra for those who want to buy a house in Burlington, the center of the action. The average home price increased 3.4% from the previous year to $328,856 in the area.
Real Estate Trends
The Vermont real estate market has been hot in recent months, resulting in a "seller's market." As a result, there is more competition for houses that sell fast for higher prices. But, taking advantage of seasonal trends may return some power to home purchasers. According to historical data, homebuyers should avoid shopping for homes during the summer. Instead, they should wait until the fall and winter for a better deal when prices tend to start falling.
Vermont's rental market can be pricy due to a lack of apartment and condo supply. Furthermore, demand is high due to some good educational institutions. During the usual year, the cost of rent in Vermont is around 30% greater than it is countrywide. Even worse, when people need to move to Burlington. A one-bedroom apartment might cost about $1,200 per month, if not more, in the metropolis. Montpelier might be the most cost-effective alternative. Although it is the state capital, only 7,500 people live there. Many can locate a tiny apartment for around $600 in this area.
Final Thoughts
There are other reasons people might not want to move to Vermont, such as being intolerant of the cold. But, in general, Vermont is a beautiful place to call home. For those wondering, there are many reasons to call Vermont home. The state has pristine and natural areas, parks, and organic and healthy cuisine. Citizens are also conscious of their environment and are easygoing with life. So, for those who do not mind living in a tiny town or city, the Green Mountain State is a great place to call home. Vermont is one of the best places to live in the United States for nature lovers who want to live a healthy life. Vermont is difficult to top in sheer beauty, especially in the fall. During all four seasons, there are many opportunities for outdoor leisure exercise. Vermont is also one of the country's oldest states, established in 1791. Remember that taxes may be more expensive for some people, and employment is scarce.
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