Mortgage Calculator in Vermont

Calculate your monthly mortgage payment in Vermont using the 2026 median home price of $388K and current local rates. Adjust the inputs below. Formula shown, sources cited — no account required.

Vermont's housing market is smaller in scale than most states, but a surge in remote-work migration has pushed the median home price to $388,000 in a state with limited inventory and a slow-moving construction sector. The cost-of-living index of 113.5 places Vermont well above the national baseline, meaning buyers face above-average prices across all categories, not just housing. Property taxes sit at 1.90% — one of the highest rates in New England — which adds roughly $614 per month on a median home before mortgage principal and interest even enter the picture. Closing costs average 1.8%, or about $6,984 on a median purchase. The state funds education largely through property taxes, which explains the elevated rate. First-time buyers can access the VHFA Advantage Loan and VHFA Move Program through the Vermont Housing Finance Agency. Average mortgage rates near 6.51% make this market particularly expensive when combined with the high property tax. Use a mortgage calculator with Vermont's actual property tax rate to see the full monthly cost and make sure your income can support it.

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Vermont's average mortgage rate of 6.51% and median home price of $388K produce a monthly P&I of approximately $2,209 before taxes and insurance.

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Vermont Housing Market at a Glance (2026)

$388K

Median Home Price

6.51%

Avg Mortgage Rate

1.9%

Property Tax Rate

10%

Typical Down Payment

Buying a Home in Vermont: Costs to Know

Average closing costs1.8% of purchase price

On a $388K home, closing costs â‰ˆ$6,984

Median household income$82,730/yr

State income tax (top rate)8.75%

First-Time Buyer Programs in Vermont

Vermont offers state-sponsored programs that can reduce your down payment or closing costs:

✓VHFA Advantage Loan
✓VHFA Move Program

Mortgage Costs in Vermont: High Property Taxes Explained

A standard mortgage payment in Vermont is calculated using the amortization formula:M = P[r(1+r)^n] / [(1+r)^n - 1]

Where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments. On a $388K home in Vermont with a 10% down payment at 6.51% over 30 years, your principal and interest payment comes to approximately $2,209/month— not including property taxes or homeowner's insurance.

Vermont's property tax rate of 1.9% adds roughly $614/month to your total housing cost on a $388K home. This rate is above the national average of ~1.1%, so factor it carefully into your budget.

Vermont vs. National Average

Metric	Vermont	National Avg
Median Home Price	$388,000	$420,000
Property Tax Rate	1.9%	1.07%
Avg Mortgage Rate	6.51%	6.85%
Cost of Living Index	113.5	100

Questions You Might Ask — Mortgage Calculator in Vermont

What is the average mortgage payment in Vermont?

Based on the median home price of $388K in Vermont with a 10% down payment and 6.51% rate (30-year fixed), the estimated monthly principal and interest payment is approximately $2,209. Adding property taxes (~$614/mo) and homeowner's insurance, total PITI is typically $2,973–$3,073/month.

What is the property tax rate in Vermont?

Vermont has an average effective property tax rate of 1.9%. On the median home price of $388K, that equals roughly $7,372 per year — or $614 added to your monthly mortgage payment. This is above the national average of ~1.1%, so budget carefully.

How much down payment do I need to buy a home in Vermont?

The typical down payment in Vermont is 10% — about $38,800 on the median $388K home. Conventional loans require as little as 3% down; FHA loans allow 3.5%. First-time buyers may also qualify for assistance through programs like VHFA Advantage Loan.

What are closing costs in Vermont?

Average closing costs in Vermont are approximately 1.8% of the purchase price — about $6,984 on the median $388K home. Closing costs include lender origination fees, title insurance, escrow, prepaid interest, and government recording fees.

What income do I need to afford the median home in Vermont?

To afford the $388K median home in Vermont under the 28% housing-cost rule, you need a gross monthly income of at least $10,618 — roughly $127K/year. The median household income in Vermont is $82,730.

Data Sources & Methodology

State data sourced from the National Association of Realtors (median home prices), Tax Foundation (property tax rates, income tax), Freddie Mac PMMS (mortgage rates), ATTOM Data Solutions (closing costs), and U.S. Census Bureau ACS (household income). Last updated 2026.