When newcomers hear that Vermont has one of the highest housing vacancy rates in the country, their first thoughts might turn to abandoned homes, boarded-up windows, or declining neighborhoods. But in the Green Mountain State, that perception couldn’t be further from the truth.
According to a new LendingTree study based on U.S. Census Bureau data, Vermont ranks among the top three states with the highest housing vacancy rates in the nation—alongside fellow New England neighbor Maine. At first glance, this might sound like a warning sign. But in Vermont’s case, the numbers tell a more nuanced story.
A High Vacancy Rate—But Not What You Think
The study examined five-year estimates from the 2023 American Community Survey and found that of the roughly 14.9 million vacant homes nationwide, a disproportionate number are in states known for seasonal tourism and secondary homes. Vermont, with its idyllic mountain villages, four-season recreation, and rural charm, fits that description perfectly.
Vacant homes, as defined by the Census Bureau, include a wide range of categories—from properties for rent or sale to seasonal homes, units under renovation, or homes held for occasional use. And in Vermont, many vacant homes fall into the “seasonal, recreational, or occasional use” category—essentially, vacation homes.
“High vacancy can be the product of relatively small housing markets with relatively high seasonal housing stock,” explains Hannah Jones, senior economic research analyst at Realtor.com®. “Maine, Vermont, and Alaska have relatively few total homes and relatively high vacation-home markets as a share of all inventory, which leads to a higher vacancy rate.”
Seasonal Demand Drives the Market
Vermont’s draw as a seasonal destination plays a major role in these figures. Many homes—especially in scenic areas like Stowe, Killington, and the Lake Champlain region—are second homes for out-of-staters who use them for summer or ski-season getaways. While these properties remain empty for much of the year, they are hardly neglected or in decline.
In fact, strong demand for second homes and investment properties has driven new construction in many parts of Vermont. High vacancy, in this context, doesn’t signal economic decline—it reflects the state’s popularity and the limited number of primary residences available for full-time living.
What This Means for Newcomers
For individuals and families relocating to Vermont, the state’s housing vacancy rate may appear misleading. While nearly 10.43% of homes nationwide are technically “vacant,” many of those are not truly available for purchase or rent. They’re often undergoing renovations, held for future use, or simply not listed on the market.
In Vermont’s case, the challenge for newcomers isn’t a lack of housing—it’s a shortage of year-round, affordable homes in desirable locations. This mismatch between supply and demand can create frustration for prospective buyers or renters looking to put down permanent roots.
Looking Ahead
Understanding Vermont’s housing dynamics is essential for anyone considering a move. While the vacancy rate may raise eyebrows at first, a deeper dive reveals a strong real estate market buoyed by tourism, seasonal demand, and investment appeal.
For those seeking full-time residency, working with a local real estate expert who understands the seasonal nuances of Vermont’s housing landscape can make all the difference. As more people look to call Vermont home year-round, targeted development and creative housing solutions may be needed to bridge the gap between vacant homes and full-time households.
In the meantime, Vermont remains a highly desirable place to live—not in spite of its high vacancy rate, but partly because of what that number represents: a state rich in natural beauty, seasonal charm, and strong demand.