Overall, Burlington's cost-of-living is about 12% above the national average, and real estate is considered to be 25% above the national average.  About a half mile from downtown is the University of Vermont (8,000 students), and as one heads in this direction, one passes through the Hill Section, a desirable area full of charming, 2-4 bedroom Italianate, Queen Anne and Colonial Revival-style residences of the late 19th and early 20th centuries.  Prices here start in the high $300,000s - low $400,000s and climb considerably higher.  

Burlington also has a good selection of condominiums and town homes.  Some are in new developments; others are conversions in turn-of-the-last-century, Victorian homes.   The least expensive condo we found was a 880 square foot unit (built in 1994) with 2 bedrooms, 1 bath for $159,000.  The most expensive town home was a luxury unit with 3 bedrooms, 3 baths, an open floor plan and gorgeous Lake views for $995,000; units can be found for nearly any price in between.

This being a college town, apartments are plentiful, but most are rented to students.  On average, one bedroom units begin at $650 per month; 2 bedroom units start at $850 per month.   Burlington also has one manufactured home park (Farrington's Mobile Home Park ~ 802-864-5238); homes start at about $22,000.  We also found for sale many mobile homes on private land on the outskirts of town.

Vermont's property taxes are high and have always been higher than most other states in the nation, although some homeowners receive significant breaks.   Property taxes are calculated by dividing the listed value by 100 and multiplying that by the combined school and municipal tax rate (for Burlington, this is 1.72).  Thus, the owner of a home with a listed value of $100,000 would pay $1,720 a year in property taxes.  Owners of primary residences whose household income is under $85,000 (or, starting in 2007, under $90,000) may qualify for greatly reduced school taxes on their home and up to 2 acres.  Primary home owners with incomes under $47,000 may qualify instead for a reduction in their assessment, and/or a significant rebate on their total property taxes, including municipal taxes.  

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