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Fair Market Rents revised upward by 24% for Burlington-S. Burlington metro area

By Leslie Black-Plumeau. Reposted from Housing Matters, April 30, 2013.

“HUD announced…that a recent in-depth survey revealed that rents for modest units in the greater Burlington area are 24% higher than originally estimated.  In October 2013, HUD set the monthly fair market rent for a one bedroom apartment in the greater Burlington area at $788, a surprising drop of more than $100 from the prior year’s level. Since this decline was inconsistent with local data indicating rising–not declining–rents, VHFA and partner housing agencies encouraged HUD to conduct an intensive rent survey of the area. This revision affects Chittenden, Franklin, and Grand Isle counties…”

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