Rutland, VT Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Rutland, VT Housing Market Trends

With 15,074 people, 7,074 houses or apartments, and a median cost of homes of $173,167, Rutland real estate values are some of the lowest in Vermont, although compared to real estate around the nation, Rutland homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Rutland, accounting for 50.66% of the city's housing units. Other types of housing that are prevalent in Rutland include duplexes, homes converted to apartments or other small apartment buildings ( 33.11%), large apartment complexes or high rise apartments ( 13.01%), and a few mobile homes or trailers ( 1.62%).

People in Rutland primarily live in small (one, two or no bedroom) single-family detached homes. Rutland has a mixture of owner-occupied and renter-occupied housing.

The housing in Rutland was primarily built before 1939 ( 46.33%), making the housing stock in Rutland some of the oldest overall in America, although there is a range of ages of homes in Rutland. The next most important housing age is between 1970-1999 ( 24.25%), followed by between 1940-1969 ( 23.51%). There's also some housing in Rutland built between 2000 and later ( 5.91%).

Vacant housing appears to be an issue in Rutland. Fully 11.35% of the housing stock is classified as vacant. Left unchecked, vacant Rutland homes and apartments can be a drag on the real estate market, holding Rutland real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Rutland Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Rutland, where house values have increased just 3.13%, which is annualized rate of 0.31%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Rutland's appreciation rate, at 5.92%, has been at or slightly above the national average. In the latest quarter, Rutland's appreciation rate has been 3.60%, which annualizes to a rate of 15.22%.

Importantly, this makes Rutland one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Vermont, our data show that Rutland's latest annual appreciation rate is higher than 50% of the other cities and towns in Vermont.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Rutland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rutland - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Rutland real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$173,167

Rutland, VT HOME PRICES

> $1,139,000
0.2%
0.2%
$854,001 - $1,139,000
0.2%
0.2%
$570,001 - $854,000
0.4%
0.4%
$456,001 - $570,000
0.7%
0.7%
$342,001 - $456,000
5.0%
5.0%
$228,001 - $342,000
15.2%
15.2%
$114,001 - $228,000
64.6%
64.6%
$57,001 - $114,000
10.6%
10.6%
$0 - $57,000
3.1%
3.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very Low for VT

Value Relative To Nation

Number Of Homes And Apartments:
7,074

Rutland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VT*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
49.22% 1.92%
1
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$971 / per month

Homeownership Rate

Owners
52.4%
52.4%
Renters
47.6%
47.6%
Vacant
11.4%
11.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
5.9%
5.9%
1970 - 1999
24.2%
24.2%
1940 - 1969
23.5%
23.5%
1939 or Older
46.3%
46.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
50.7%
50.7%
Townhomes
1.6%
1.6%
Small Apt. Buildings
33.1%
33.1%
Apt. Complexes
13.0%
13.0%
Mobile Homes
1.6%
1.6%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
25.7%
25.7%
1 Bedroom
8.4%
8.4%
2 Bedrooms
15.5%
15.5%
3 Bedrooms
33.4%
33.4%
4 Bedrooms
12.3%
12.3%
5 or more bedrooms
4.6%
4.6%
0.0% 100.0%
% OF HOMES