Vermont is facing a serious housing shortage, in large part because we're not building enough new housing to meet the growing demand. The problem is made worse because the shortage is driving up rents and home prices. As a result, Vermont is actually one of the most expensive states in the nation when it comes to paying for housing. Building more housing-and doing it in a way that respects our state's character and environment-would not only ease the current shortage, but provide economic benefits as well.

• For 2001, the median purchase price for a home in Vermont was $127,000. Just five years earlier, the median price was just over $96,000. That's a 30% jump.
• In the year 2000, a housing needs study of Vermont's six northwest counties - Addison, Chittenden, Franklin, Grand Isle, Lamoille and Washington, where nearly half of our state's population lives - showed that area has a shortage of 7,400 homes and apartments. That shortage is expected to grow to more than 10,000 by the year 2010.
• Vermont's housing vacancy rate, which compares the number of available homes and apartments to the entire supply, shows a very tight housing market. Housing experts say a healthy housing market will have a 3% vacancy rate for owner-occupied housing and a 5% vacancy rate for rental housing. State-wide, Vermont's vacancy rate is 0.9% for owner-occupied housing and 3.8% for rentals.
• This problem is not confined to low-income Vermonters - some households earning close to $50,000 are having difficulty finding housing they can afford - but those on the lower end of the economic ladder are being particularly hard-hit. Working families represent a growing number of people showing up in homeless shelters, and the total number of Vermonters staying in shelters has increased by 12% over the last four years.

This information was provided by the Vermont Housing Awareness Campaign. It is an effort by a group of public and private-sector interests who agree that Vermont is in the midst of a severe housing shortage, and that it is important for our people and our state as a whole to provide more housing opportunities for all Vermonters. Visit their site at http://www.housingawareness.org/ or email them at info@housingawareness.org for more information.

The National Housing Trust Fund Campaign is working to establish a National Housing Trust Fund that would build and preserve 1.5 million units of rental housing for the lowest income families over the next 10 years. As an endorser of this initiative, DREAM participates by taking action, reaching out to other organizations to promote the campaign, and offering feedback and ideas on periodic conferences call.

For more details, please download the PDF or visit the the NHTF website.