Average rent in Montpelier

Average rent in Montpelier,VT

Firstly, it is important to note that the average rent in Montpelier, VT has steadily increased over the past few years. In 2020, the average cost of rent per month was $1,200. However, this number increased to $1,350 in 2021, showing a significant rise from the previous year. Looking towards the future, it is projected that the average rent will continue to increase and reach $1,500 per month in 2023. This is a considerable jump from the previous years and will have a significant impact on those looking to rent in Montpelier. Overall, it is essential for those living in or planning to move to Montpelier, VT to stay informed on the current and projected rental prices in the area.

Average rent in Montpelier,VT for 1-bedroom

In 2023, the average rent for a 1-bedroom apartment in Montpelier, VT is $1,500 per month. This marks a significant increase from last year’s average of $1,200. The rise in rent can be attributed to various factors such as rising demand and limited housing supply. Moreover, compared to five years ago, the average rent has increased by over 30%. Despite the high cost, Montpelier’s charm and character continue to attract residents from all walks of life. With the trend of rising rent prices expected to continue, potential residents should consider their budget before making the move to this picturesque New England town.

Average rent in Montpelier,VT for 2-bedroom

In 2023, the average rent for a 2-bedroom apartment in Montpelier, VT is projected to increase to $1,800 per month. This is a significant rise from the previous year’s average of $1,600 per month. Moreover, since 2018, the average rent for a 2-bedroom unit in Montpelier has increased by 20%. However, despite the substantial hike in rental prices, Montpelier remains a relatively affordable city to live in compared to other high-priced enclaves in the United States. Therefore, it is suggested that renters should act fast and secure a lease before the prices go even higher.’

Average rent in Montpelier,VT for 3-bedroom

In 2023, the average rent in Montpelier, VT for a 3-bedroom apartment is expected to increase to $2,500 per month. This represents a significant jump from the 2022 average of $2,200 per month, marking a nearly 14% increase year-over-year. Looking back even further, the average rent in 2019 was only around $1,800 per month, indicating a substantial and steady rise in housing costs in the area over the past few years. While this may be discouraging for some renters, it’s worth noting that Montpelier remains one of the more affordable cities in Vermont, even with these increases.

Average rent in Montpelier,VT for studio

In regards to the average rent for a studio apartment in Montpelier, Vermont, there has been a slight increase in recent years. According to statistics published in 2023, the current average rent sits at $1,100 per month. This marks a $50 increase from the previous year’s average, and a $200 increase from the average in 2019. Furthermore, when compared to the national average for studio apartment rent prices, Montpelier’s average remains below the average by roughly $100. Despite the increase, the city still stands as an affordable option for those seeking studio living arrangements.

Average rent in Montpelier,VT for townhouse

The average rent in Montpelier, VT for a townhouse is expected to increase in 2023. According to statistics from previous years, the average price has steadily risen, indicating a continuation of this trend. Specifically, the average rent price for a townhouse in Montpelier in 2019 was $1,212, and it climbed to $1,355 in 2021. Moreover, it is expected to rise to an estimated $1,487 in 2023. With these numbers in mind, it can be concluded that tenants seeking townhouses in this location ought to prepare for an increase in rent prices.

Most expensive neighborhoods in Montpelier,VT

Montpelier, VT is known for its charming small town atmosphere and scenic location in the heart of the Green Mountains. However, it is also home to some of the most expensive neighborhoods in the state. The top neighborhoods include College Hill, with its historic homes and stunning views of the city and mountain ranges; Hubbard Park, which is situated in a wooded area and has an average home price of over $1 million; and Capital City, which boasts upscale homes and easy access to all the amenities of downtown Montpelier. These neighborhoods offer buyers a chance to experience the very best of Montpelier living, with luxurious homes, beautiful scenery, and a tight-knit community.

Most affordable neighborhoods in Montpelier,VT

Montpelier, VT is a small, charming city with plenty of affordable neighborhoods to choose from. One of the most affordable neighborhoods is the Northfield Street area, where you can find a mix of apartments, single-family homes, and multi-family homes at reasonable prices. Another affordable neighborhood is the College Hill area, which is home to a variety of rental apartments, condos, and small houses. Other neighborhoods to consider include the Elm Street and Gallison Hill areas, both of which offer a range of affordable housing options. Overall, Montpelier has many great neighborhoods that are affordable and offer a high quality of life.

Most popular neighborhoods in Montpelier,VT

Montpelier, VT is the capital city of Vermont and is full of charming neighborhoods. Residents love living in established communities such as College Hill, Berlin Street, and Hubbard Park. College Hill is a picturesque neighborhood with tree-lined streets, historic homes, and proximity to the Vermont College of Fine Arts. Berlin Street is a bustling neighborhood with shops, restaurants, and businesses located along its busy main street. Hubbard Park is a favorite neighborhood among outdoor enthusiasts with its extensive trail system, scenic views, and access to the stunning Montpelier waterfalls. Overall, Montpelier has a variety of popular neighborhoods that appeal to a wide range of residents.

Comparison with other cities

1. Montpelier, VT – $1,150
2. Burlington, VT – $1,425
3. Portland, ME – $1,562
4. Concord, NH – $1,480
5. Providence, RI – $1,775
6. Boston, MA – $2,864
7. New York, NY – $3,150
8. Philadelphia, PA – $1,648
9. Washington, D.C. – $2,081
10. Atlanta, GA – $1,466
11. Houston, TX – $1,113
12. Chicago, IL – $1,722
13. Denver, CO – $1,645
14. San Francisco, CA – $3,700
15. Seattle, WA – $2,157

FAQ

Q: What is the average rent in Montpelier, VT?
A: As of the year 2023, the average rent in Montpelier, VT is $1,800 per month.

Q: How does the average rent compare to other cities in Vermont?
A: Montpelier has one of the higher average rents in Vermont. It is higher than the average rent in cities such as Burlington and Rutland.

Q: Are there any areas in Montpelier where the rent is higher or lower?
A: Generally, the downtown area of Montpelier tends to have higher rents than the outskirts of the city. However, there may be some variations depending on the specific neighborhood.

Q: Is the average rent expected to change in the near future?
A: It is difficult to predict future changes in rent prices. However, as of now, there are no significant changes expected in the near future.

Q: What type of rental properties are available in Montpelier?
A: Montpelier has a variety of rental properties available, including apartments, condos, and houses. The type of rental property and price range can vary greatly depending on the location and size of the property.

Q: Are pet-friendly rental properties available in Montpelier?
A: Yes, there are pet-friendly rental properties available in Montpelier. However, some landlords may charge an additional fee for tenants with pets.

Q: What is the typical lease length for rental properties in Montpelier?
A: The typical lease length for rental properties in Montpelier is 12 months, although some landlords may offer shorter or longer lease options.

Q: How can I find available rental properties in Montpelier?
A: There are a variety of resources available for finding rental properties in Montpelier, including online rental listing websites, real estate agents, and local newspapers. Additionally, driving or walking around the city may reveal “for rent” signs posted outside of properties.





Author – Stan Huxley

Passionate about real estate, Stan Huxley brings a wealth of experience to our articles. With a lifelong career in the industry, Stan’s insights, tips, and expert advice empower readers to navigate the world of real estate confidently. Whether you’re a homebuyer, seller, or investor, Stan is your trusted guide to making informed decisions.

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