![\"Chittenden](\"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-content\/uploads\/2016\/04\/Chittenden-County-Rentals.jpg\")
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The vacancy rate stood at 3% in December, almost double the 15-year average of 1.6%, according to real estate consulting firm Allen & Brooks. With 3,500 new apartments being constructed across Chittenden County<\/a>, that\u2019s providing more options for renters<\/a>, such as Finney Crossing in Williston<\/a> and Riverrun in Winooski<\/a>. Almost 600 new apartments will open in 2016 alone, Allen & Brooks forecasts.<\/p>\n With developers opening new apartment buildings, renters have more options, such as whether to look for a recently constructed building or housing in the older homes found in the Old North End of Burlington<\/a>, for instance. Our Agents<\/a> find that the rents are often comparable, although the newer buildings often include amenities \u2013 such as covered parking \u2013 that aren\u2019t available with older apartments.<\/p>\n Because of the higher vacancy rate and new apartments coming to the market, renters are finding some financial breathing room after 15 years of annual average increases of 3.1%. Monthly rents are stabilizing, and our Agents believe that rents may see some softness in coming months.<\/p>\n Our Agents advise renters to start searching for a new apartment 45 days to 60 days before they need to move. Landlords typically market their apartments within that time frame, and hunting for a new home can still be competitive.<\/p>\n Large local employers such as the UVM Medical Center continue to hire, while industries such as the technology sector are growing and adding workers. Relocating<\/a> families and professionals often want to rent before committing to buying, which is adding to demand for rental properties<\/a>.<\/p>\n Professionals are increasingly drawn to the Old North End of Burlington because it\u2019s within walking distance to downtown and offers more affordable rents than other neighborhoods, Allen & Brooks notes. Likewise, Winooski has earned a reputation as \u201cThe Brooklyn of Vermont\u201d because of its excellent new restaurants and cheaper rents, which is drawing more professionals to the city. Developers are responding by constructing higher-end buildings in these areas, such as the Packard Lofts in the Old North End and Riverrun in Winooski.<\/p>\n Because our rental expert has extensive contacts with landlords, Realtors and associations, Coldwell Banker Hickok & Boardman Realty<\/a> is well positioned to help clients find the most recent properties on the market.<\/p>\n","protected":false},"excerpt":{"rendered":" While apartment hunting in Northwest Vermont remains competitive, renters are in a better position than a year ago, thanks to a higher vacancy rate and stabilizing rents. The following are some trends that are impacting the rental market: The Vacancy Rate Is Easing The vacancy rate stood at 3% in December, almost double the 15-year … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"_links":{"self":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/735"}],"collection":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/comments?post=735"}],"version-history":[{"count":12,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/735\/revisions"}],"predecessor-version":[{"id":3841,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/735\/revisions\/3841"}],"wp:attachment":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/media?parent=735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/categories?post=735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/tags?post=735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nWhile apartment hunting in Northwest Vermont remains competitive, renters are in a better position than a year ago, thanks to a higher vacancy rate and stabilizing rents. The following are some trends that are impacting the rental market:
\n<\/strong><\/p>\n![\"Vermont](\"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-content\/uploads\/2016\/04\/Vermont_Rental_market.png\")
The Vacancy Rate Is Easing<\/h3>\nRenters Have More Choices<\/h3>\n
More Wiggle Room with Rents<\/h3>\n
Prepare to Search Two Months Before a Move<\/h3>\n
A Vibrant Local Economy<\/h3>\n
\nChittenden County\u2019s Rental Market Insights<\/span><\/h2>\n
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New Interest in Old Neighborhoods<\/h3>\n