Fair market rents · FY 2027 · effective October 1, 2026
Vermont fair market rents, FY 2027
The 2-bedroom Fair Market Rent in the median Vermont town is $1,558 a month for FY 2027, from $1,167 to $2,165 across the state. The typical town moved +14.5% from FY 2026 and +49.2% over five years; weighted by population, the state average moved +8.8%. The most populous HUD area, Burlington-South Burlington, VT, is at $2,165 for a 2-bedroom.
FMRs are HUD's estimate of the 40th percentile gross rent (rent plus utilities) paid by recent movers into standard-quality units. Housing agencies set voucher payment standards from them. Source: HUD FY 2027 FMR file, 91 FR 56156 (published September 1, 2026). This site is not HUD.
| FY | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2BR | $1,125 | $1,146 | $1,156 | $1,185 | $1,195 | $1,191 | $1,290 | $1,482 | $1,505 | $1,629 | $1,773 |
Every HUD rent area in Vermont, FY 2027
12 HUD FMR areas cover 256 towns; 1 is a metro area. Monthly gross rent by bedroom count. New England is published by town, so metro rows list how many towns they cover. The trend line is the 2-bedroom FMR from FY 2017 to FY 2027 for the most populous member.
Biggest one-year move up: Washington County, VT, +20.3%. Biggest move down: Burlington-South Burlington, VT, +1.2%. HUD caps a one-year drop at 10%.
| HUD area | Studio | 1BR | 2BR | 3BR | 4BR | 1 yr | 5 yr | FY17 to FY27 |
|---|---|---|---|---|---|---|---|---|
| Addison County23 towns | 1,139 | 1,293 | 1,636 | 1,954 | 2,734 | +13.8% | +46.5% | |
| Bennington County17 towns | 1,188 | 1,343 | 1,503 | 2,081 | 2,512 | +15.9% | +47.6% | |
| Burlington-South Burlington39 towns | 1,550 | 1,719 | 2,165 | 2,733 | 2,845 | +1.2% | +44.3% | |
| Caledonia County17 towns | 1,154 | 1,161 | 1,327 | 1,837 | 2,218 | +14.5% | +51.3% | |
| Essex County19 towns | 914 | 1,072 | 1,167 | 1,616 | 1,834 | +15.9% | +49.4% | |
| Lamoille County10 towns | 1,229 | 1,237 | 1,535 | 2,126 | 2,127 | +14.1% | +44.7% | |
| Orange County17 towns | 1,101 | 1,378 | 1,581 | 2,018 | 2,140 | +16.1% | +51.6% | |
| Orleans County19 towns | 1,067 | 1,111 | 1,363 | 1,754 | 1,909 | +15.1% | +60.2% | |
| Rutland County28 towns | 1,170 | 1,178 | 1,541 | 1,836 | 2,149 | +14.6% | +57.1% | |
| Washington County20 towns | 1,242 | 1,363 | 1,783 | 2,230 | 2,343 | +20.3% | +55.9% | |
| Windham County23 towns | 1,196 | 1,304 | 1,605 | 1,912 | 2,425 | +12.8% | +47.4% | |
| Windsor County24 towns | 1,322 | 1,329 | 1,558 | 2,038 | 2,128 | +14.4% | +49.2% |
Dollars per month, FY 2027 file as published September 1, 2026; rows marked R show FY 2026. "1 yr" compares the FY 2027 2BR with FY 2026, "5 yr" with FY 2022. HUD's methods changed over these years, so part of any move is method, not market. Area names are HUD's.
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We'll write once when HUD publishes FY 2028 Fair Market Rents, or revised FY 2027 figures, for your ZIP's HUD area in Vermont. HUD's FY 2028 starts October 1, 2027.
Using these numbers on a rental
The FMR sets the range for voucher payments; it is not a rent estimate for your unit. A housing agency picks a payment standard between 90% and 110% of it, then checks your asking rent against similar unassisted units nearby. Both figures cover rent plus utilities, so the agency's allowance for any utilities the tenant pays comes off the top.
Take a 2-bedroom at $1,558, a payment standard at 100% of FMR, and a $150 utility allowance (an example; each agency publishes its own schedule). Then the voucher can cover a contract rent of up to $1,408 ($1,558 minus $150), with the tenant paying the usual 30% of income. How to underwrite with FMR works through the rest.