Average Vermont Salary: Can You Afford the Cost of Living in Vermont? (2023)

Vermont, the Green Mountain State, is one of the best places to move. cost of living in vermont It's not as high as neighboring New England states and it's also one of the safer states. Vermont is a great place for a change of scenery, with remarkable communities, scenery, and world-renowned craft beers.

However, before moving anywhere, it's always worth considering a number of facts, such as the average daily cost and the average salary in Vermont. The average rent in Vermont or the cost of housing are also important factors to consider. To help you out, we've covered most of the information you need to know before moving to Vermont, including a salary comparison by city.

Average Vermont Salary: Can You Afford the Cost of Living in Vermont? (1)

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What you need to know before moving to Vermont

Before moving to Vermont, there are some important things to remember about living in the state. Vermont's average statewide employment rate is high compared to the national average. There are also a plethora of industries to choose to work in, the most prominent being manufacturing. Major Vermont producers include breweries, lumberjacks, ice cream, and parfait makers.

(Video) The Cost of Living in Vermont [Is it Affordable to Live in Vermont?]

Another notable thing about Vermont is the weather. Winter in Vermont can last almost half a year, and snowy winters mean many ski resorts. However, the weather can also cause problems for people as winters can also be seen as brutal.

What is the cost of living in Vermont?

According to the Bureau of Economic Analysis, theAverage Annual Cost of Living in Vermontwas around $47,397 in 2021. This is alower cost of living compared to the national averageof $61,334 as reported by Statista. This makes Vermont a more affordable option for anyone looking to move to the New England area.

How is the cost of living calculated?

The cost of living is typically calculated by collecting data on the average price of various goods and services that residents spend money on. These goods and services include housing, utilities, food, and health care. The data is compared from area to area and used to determine the average living wage.

What contributes to the cost of living in Vermont?

Median Income in Vermont

OMedian rent in Vermont ranges from$786 to $1,531 per month based on 2022 market rental price data. B. One-bedroom or Three-bedroom apartment. Monthly rents are also higher in larger cities and counties, e.g. B. Chittenden County, Franklin County and Grand Isle County.

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Average Cost of Transportation in Vermont

Most residents have private cars. As of March 10, 2022, gasoline prices in Vermont averaged $4.34 per gallon, close to the national average.Public transport fares or bus tickets, can range from $1 for a one-way ticket and travel within the same city to $3 to $49 for an intercity trip.

Average Cost of Groceries in Vermont

AA single adult in Vermont has annual grocery expensesan average of $3,864, according to the 2019 Vermont Living Wage and Basic Needs Budget Report from the Vermont Legislative Joint Attorney's Office. The same report also states that a family of four in Vermont can expect to spend about $12,048 a year.

By comparison, theaverage annual food costs for all types of householdsit was $8,169 statewide in 2019, according to the Bureau of Labor Statistics.

Average Health Care Costs in Vermont

OAverage Annual Health Care Costs in Vermontfor 2019 it was $6,515 for a single adult, up 4.1% from 2018, according to the Board of Vermont Green Mountain Care. The expectation is that it will continue to grow in the coming years. This average cost of health care includes out-of-pocket costs and costs covered by the government or Medicare and Medicaid.

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Average Utilities in Vermont

Average utility bills in Vermont tend to be higher than the US average. According to the US Energy Information Administration (EIA), part of the US government,Vermont ranks 9th in the United Statesin the cost of electricity and 28. in the price of natural gas. The EIA reports that Vermont's electricity costs are 37% higher than the national average for all US states.

Other expenses to consider in Vermont

One of the other biggest financial considerations when moving to Vermont is the high tax rates. According to TaxFoundation.org,Vermont was ranked second in the US.in 2020 for the most taxes collected on its residents, at $5,318 per capita. The national average in the US is $3,217 per capita.

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Vermont's income, property, and sales taxes are among the highest in the country. This can significantly increase the daily cost.

Should I buy or lease in Vermont?

If you intend to stay for a long period of time, buying a property in Vermont is a good option. On the other hand, if you intend to stay for a short time, renting is a good option. However, the decision to buy or rent in Vermont depends on several factors, such as: B. whether it is a permanent move and the person's financial situation.

Buying a home can be expensive, so make sure your annual income is enough to meet the cost of ownership obligations that come with home upkeep and property taxes. Renters can enjoy significantly lower expenses in the short term, but have less control over their homes.

What is the average salary in Vermont?

According to ZipRecruiter, theAverage Annual Salary in Vermontis $76,439. That's much higher than thatNational median annual income of $45,760, according to the Bureau of Labor Statistics (BLS). Annual salaries in Vermont can range from $20,356 to $135,046.

Salary Comparison by City in Vermont

Ciudad average salary
cross of essex 67.000 $
On of Burlington 63.000 $
Rutlandia 63.356 $
Burlington 62.000 $
bennington 36.067 $

What is a good salary?

Based on the information we've collected in this article, Vermont's average salary of $76,439 is a good salary compared to the average cost of living in the state. Of course, each person's situation and factors may vary. Those who live in an affluent area like Chittenden County are likely to face above average costs for their expenses.

Additional expenses may also factor in the ideal annual income for your situation. Simple and unnecessary everyday expenses can add significantly to the cost of living. Therefore, an annual income slightly above the median wage would be a very good wage to live in Vermont.

(Video) Cheapest Places to Live in Vermont 2023 [Where to Live in Vermont]

Can you afford the average cost of living in Vermont?

and you tooEarn at least $50,000 a year, you can afford the average cost of living in Vermont. However, you may need to limit your out-of-pocket expenses if your salary is of this magnitude. Unexpected factors such as house maintenance during severe winters must also be considered.

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All in all, the cost of living in Vermont is not very high compared to neighboring states. As long as your salary is within the national average range, you can live in Vermont. In summary, the total annual housing costs, monthly additional costs and other additional costs are not very high.

Frequently Asked Questions About Cost of Living in Vermont

How big is the difference in the cost of living between Vermont and the national average?

Yes, according to statistics from the Bureau of Economic Analysis and Statista, the cost of living in Vermont is approximately 22% below the national average. Vermont is also a state with one of thehighest annual salaryin the country. High wages and a lower cost of living mean that people who live here have more disposable income and can live comfortably.

Is there a cheap and safe city in Vermont to move to?

Yes, Vermont is generally a very safe place to live, so there are several safe cities to move to that offer below-average costs of living. Some of these notable cities are Hinesburg, Northfield, and Castleton.

(Video) Cost of living in Vermont, heat and internet

What are the winters like in Vermont and how expensive is it to maintain?

Winters in Vermont can be brutal, but that usually means lower air conditioning running costs. Maintenance costs can add up, but as long as your home is on a good footing, additional costs should be kept to a minimum. Jobs like snow removal and gutter cleaning and drainage are the most common winter expenses.

Are there many job options to help manage the cost of living in Vermont?

(Video) The Vermont Housing Crisis

Yes, there are many job opportunities in Vermont. According to research and the Lensa Index, by 2022Job availability per person in Vermont is one of the highest in the US., although there are fewer vacancies overall. This is because the state has a below average population. if you have oneBachelor's Degree or Master's Degree, your chances of getting a job are high.


Average Vermont Salary: Can You Afford the Cost of Living in Vermont? ›

The cost of living in Manchester, NH is -12.2% lower than in Burlington, VT. You would have to earn a salary of $52,668 to maintain your current standard of living. Employers in Manchester, NH typically pay 4.0% more than employeers in Burlington, VT.

Is it cheaper to live in VT or NH? ›

The cost of living in Manchester, NH is -12.2% lower than in Burlington, VT. You would have to earn a salary of $52,668 to maintain your current standard of living. Employers in Manchester, NH typically pay 4.0% more than employeers in Burlington, VT.

Is Burlington VT expensive to live? ›

Burlington, Vermont's cost of living is 16% higher than the national average. The cost of living in any area can vary based on factors such as your career, its average salary and the real estate market of that area.

Is it expensive to rent in Vermont? ›

The median rent price in Vermont May 2023 is $2,093.

What is the median salary in Vermont? ›

Vermont: Average Salary

The average salary in Vermont is $53,540 per year or $25.74 per hour. Entry level positions start at $34,218 per year while most experienced workers make up to $185,000 per year.

How much money do you need to live comfortably in Vermont? ›

Average Cost of Living in Vermont: $50,761 per year
CategoryAverage Annual Per-Capita Cost in Vermont
Housing and Utilities$9,544
Health Care$8,859
Food and Beverages (non-restaurant)$4,443
Gas and Energy Goods$1,270
1 more row

How much does it cost to live comfortably in Vermont? ›

Living Cost for a Family of Four

The statewide average annual salary needed for a comfortable life for a family of four is $94,045, with the median household income for Vermont residents at $60,000. Vermont's minimum wage increased from $10.96 to $11.75 in 2021, and it's planned to increase to $12.55 in 2022.

Where is the cheapest place to live in Vermont? ›

Here are the top ten towns in Vermont for affordable homeownership, according to the study.
  • St. Albans.
  • Bennington.
  • Rutland.
  • Essex Junction.
  • St. Johnsbury.
  • Montpelier.
  • South Burlington.
  • Barre.
Oct 18, 2021

Is it worth moving to Vermont? ›

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.

Are there affordable places to live in Vermont? ›

Here Are The 10 Cheapest Yet Great Places To Live In Vermont
  • West Brattleboro. Wikimedia/John Phelan. ...
  • Putney. Wikipedia/Putneypics. ...
  • Hardwick. Wikipedia/Vertexn. ...
  • Newport. Wikimedia/AlexiusHoratius. ...
  • Barre. Wikipedia/Royalbroil. ...
  • Randolph. Wikipedia/Mickmaguire. ...
  • Rutland. Wikipedia/Sfoskett. ...
  • Northfield. Wikimeda/Srbergeron.
Jun 5, 2022

Are groceries expensive in Vermont? ›

Vermont ranks second highest for monthly grocery costs, according to a new study. The average Burlington is estimated to spend $497.41 per month on groceries, the second-highest food costs in the nation behind residents in Honolulu (Hawaii), which pays $556.76 per month.

Is retiring to Vermont a good idea? ›

There's no better place to retire than in the serene state of Vermont. With its peaceful rural atmosphere and tight-knit small towns, Vermont offers retirees a welcoming place to spend their years of rest and relaxation.

Is Vermont affordable for retirees? ›

Connecticut, Massachusetts, Vermont, Rhode Island among least affordable states for retirement. According to Bankrate's study, the following seven states are the least affordable in which to retire to in the U.S. during 2022: Hawaii. California.

What is middle class income in Vermont? ›

Range of household incomes needed to be considered middle class, by family size
Vermont$26,511 – $79,533$37,492 – $112,476
Virginia$26,694 – $80,081$37,750 – $113,251
Washington$27,529 – $82,586$38,931 – $116,794
West Virginia$22,858 – $68,573$32,326 – $96,977
48 more rows

What's considered low income in Vermont? ›

AND your income must be at or below 200% of the Federal Poverty Level. Example: In 2023, your income is below 200% of the Federal Poverty Level if it is: At or below $27,180 a year for a single person. At or below $36,620 a year for a couple.

What is considered high income in Vermont? ›

Median Household Income: $67,674. Average Household Income: $89,820. Per Capita Income: $37,903. 7.2% of Households in Vermont are High Income Households that make over $200,000 a year.

What is the livable wage in Vermont 2023? ›

The livable wage for a single parent with one child is $32.58 in urban areas and $26.43 in rural areas. Livable wages for other family combinations can be found on the report.

How much will Vermont pay you to move there? ›

The Worker Relocation Incentive program can help subsidize your moving expenses with reimbursement grants of up to $7,500 if you move to Vermont. This program is funded through a $3.09 million one-time allocation from the Vermont Legislature and is a first come, first served program.

How much is $80,000 after taxes in Vermont? ›

If you make $80,000 a year living in the region of Vermont, USA, you will be taxed $20,184. That means that your net pay will be $59,816 per year, or $4,985 per month.

Are Vermont taxes high? ›

For the 2022 tax year, the income tax in Vermont has a top rate of 8.75%, which places it as one of the highest rates in the U.S. Meanwhile, total state and local sales taxes range from 6% to 7%.

Are Vermont property taxes high? ›

Vermont Real Property Taxes

In Vermont, the median property tax rate is $1,730 per $100,000 of assessed home value. For 2022, senior homeowners with 2021 household income of $136,900 or less may qualify for a property tax credit of up to $8,000.

How much is 70k after taxes in Vermont? ›

If you make $70,000 a year living in the region of Vermont, USA, you will be taxed $16,559. That means that your net pay will be $53,441 per year, or $4,453 per month.

What city in Vermont has the lowest crime rate? ›

Northfield has the lowest property crime rate in Vermont for the second year in a row at just 1.2 incidents per 1,000 people—it reported fewer property crimes than violent crimes.

What is the friendliest place in Vermont? ›

Waitsfield, Vermont is a small town of about 2,000 residents located in Washington County. Along with being based in a scenic part of the Green Mountain state, Waitsfield is also one of the most friendliest towns in Vermont. This is due to its strong sense of community, welcoming vibe, and safety.

Where do most people live in Vermont? ›

Burlington, in the Champlain valley, is Vermont's largest community, followed by Essex, near Burlington; Rutland, in the Otter valley; Colchester, just north of Burlington; and South Burlington.

What do I need to know before moving to VT? ›

15 Things to Know Before Moving to Vermont
  • Vermont winters can be harsh. ...
  • Vermont has a very low population. ...
  • Vermont has lake towns, not coastal towns. ...
  • Yes, Ben and Jerry's ice cream is big in Vermont. ...
  • Vermont is a politically engaged state. ...
  • Vermonters are maple syrup snobs. ...
  • Vermont is a great place for outdoor enthusiasts.
May 8, 2023

Do you need a car to live in Vermont? ›

Living in Vermont, everyone needs a car sometimes, but you don't have to own one (or more) to enjoy the convenience of driving. Whenever you need to drive, reserve the vehicle of your choice near you, get in, and go.

Does Vermont have low property taxes? ›

The average effective property tax rate in Vermont is 1.73%, which ranks as the fifth-highest rate in the U.S. The typical homeowner in Vermont can expect to spend $4,697 annually in property taxes.

Is it cheaper to live in Florida or Vermont? ›

Vermont is 4.3% more expensive than Florida.

How much is a Big Mac meal in Vermont? ›

The price of Combo meal in fast food restaurant (Big Mac Meal or similar) in Burlington, Vermont is $9. This average is based on 7 price points. At this point it is only a guess. Latest update: March 14, 2023.

How much is a dozen eggs in Vermont? ›

The price of 12 eggs, large in Burlington, Vermont is $3.98

Latest update: March 09, 2023.

What state is best financially to retire in? ›

1 state to retire in, Virginia has taken the top spot this year, according to personal finance website WalletHub's “2023′s Best States to Retire” study. WalletHub evaluated all 50 U.S. states in three key categories: affordability, quality of life and access to health care.

Does Vermont tax your Social Security? ›

Recipients of Social Security benefits may be exempt from Vermont tax on part or all of their benefits. If you had Social Security benefits that were taxable in the current tax year as shown on your federal Form 1040, U.S. Individual Income Tax Return, then you may qualify for a Vermont exemption.

Is Vermont tax friendly to seniors? ›

Vermont is not tax-friendly toward retirees. Social Security income is partially taxed. Withdrawals from retirement accounts are fully taxed. Wages are taxed at normal rates, and your marginal state tax rate is 3.35%.

What is the least expensive state for seniors to live in? ›

Wyoming topped the list as least expensive state for people to live out their golden years with a senior poverty rate of 6.7%, classification as “most tax friendly,” and an average annual medicare spending rate of $10,274 per beneficiary, well below the national average.

Which New England state is most retirement friendly? ›

New Hampshire has historically been rated as one of the most tax-friendly states to live in, especially as a retiree. Some of the financial advantages include: No state income tax.

What state has the lowest tax burden for retirees? ›

1. Alaska. Alaska is the most tax-friendly state for retirees because it has no state income tax or tax on Social Security. And its sales tax rate is the fourth lowest on our list - fifth lowest in the U.S. But keep this in mind: The cost of living in Alaska is higher than in most states.

What salary is considered lower class? ›


What salary is considered rich for a single person? ›

For 2021, you're in the top 1% if you earn $819,324 or more each year. The top 5% of income earners make $335,891 per year.

What salary is upper class? ›

In 2021, the median household income is roughly $68,000. An upper class income is usually considered at least 50% higher than the median household income. Therefore, an upper class income in America is $100,000 and higher. However, an upper class income also depends on where you live.

What is the most low income state? ›

Poorest States in the US

Mississippi is the poorest state in the US, with a poverty rate of 18.7%, followed by Louisiana as the second poorest state, with a poverty rate of 17.8%, and New Mexico, as the third poorest state in the US, at a poverty rate of 16.8%.

What is the income level for food stamps in Vermont? ›

3SquaresVT in a SNAP!
Net household income = gross monthly household income minus allowable deductions.
Household SizeMaximum Gross Monthly Income (185% of FPL)Maximum Net Monthly Income (130% of FPL)
7 more rows

What is low income in Burlington VT? ›

Income Limits
FY22 Income Limit AreaPersons in HouseholdLow (80%) Income Limits ($)
Burlington-South Burlington, VT Metropolitan Statistical Area (MSA)2$68,650
4 more rows

How much is $50,000 a year after taxes in Vermont? ›

If you make $50,000 a year living in the region of Vermont, USA, you will be taxed $9,781. That means that your net pay will be $40,219 per year, or $3,352 per month.

How much does the average person in Vermont make? ›

The average salary in Vermont is $52,400 per year or $25.19 per hour. Entry level positions start at $34,261 per year while most experienced workers make up to $171,105 per year.

What is the average household income in VT? ›

Income & Poverty
Median household income (in 2021 dollars), 2017-2021$67,674
Per capita income in past 12 months (in 2021 dollars), 2017-2021$37,903
Persons in poverty, percent 10.3%
54 more rows

What is the cheapest state to live in in New England? ›

What is the most affordable city in New England? Based strictly on price-to-income ratio, Torrington, Connecticut is the cheapest place to buy a home in New England.

Which is better Vermont or New Hampshire? ›

In terms of more rural towns that feel quite like a piece of countryside heaven, Vermont is likely to appease. On the other hand, those who wish for steeper mountains and more cities might find that their heart takes them to New Hampshire.

Which state is better to retire to Vermont or New Hampshire? ›

New Hampshire is the most tax friendly of the three, mainly because it only taxes interest and dividends, and has no state sales tax. On the other hand, property taxes are higher there. New Hampshire does not tax wages, although it does tax interest and dividend income.

Is New Hampshire a cheap state to live in? ›

Average Cost of Living in New Hampshire: $56,727 per year

According to MERIC data gathered in 2022, New Hampshire has the 43rd lowest cost of living in the country. If New Hampshire exceeds your budget, don't bank on finding an affordable nearby state to move to.

What is the least expensive state to live in right now? ›


Coming in as the cheapest state to live in in the United States is Mississippi with a cost of living index score of 83.3. It also has the lowest average housing costs in the nation at 33.7% below the national average. The median single family home costs around $140,818.

What is the friendliest state in New England? ›

Friendliest State: New Hampshire

The Granite State is beautiful, with fiercely proud locals who love where they're from.

Is Vermont a good place to retire financially? ›

Vermont is not tax-friendly toward retirees. Social Security income is partially taxed. Withdrawals from retirement accounts are fully taxed. Wages are taxed at normal rates, and your marginal state tax rate is 3.35%.

What is the average electric bill in NH? ›

Monthly electric bills are a product of how much electricity you use per month and your electric rate. In New Hampshire, the average monthly electric bill for residential customers is $308/month, which is calculated by multiplying the average monthly consumption by the average electric rate: 1,011 kWh * 30 ¢/kWh.

Where is the lowest cost of living in USA? ›

Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi's housing costs are the lowest in the nation.

What salary do you need to live in New Hampshire? ›

Living Wage Calculation for New Hampshire
0 Children2 Children
Living Wage$17.23$25.38
Poverty Wage$6.53$6.67
Minimum Wage$7.25$7.25


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