Vermont: In the Spotlight
Vermont, often known as the Green Mountain State, is home to over 626,000 people. The state of Vermont is the 49th most populous state, and is also home to cities like Burlington, which is the most populated city in the state with more than 42,000 residents. Essex is another key location in the state, with more than 21,000 people calling the region home.
- After the ratification of the U.S. constitution, Vermont became the first state admitted to the union.
- The University of Vermont is the largest employer in Vermont, with over 9,400 employees.
- Tourism, Manufacturing, and Agriculture are the largest industries in the state.
- The average household income is $61,973.
- The average age in Vermont is 42 years old.
- Vermont has over 261,000 employees across the state.
- The home ownership rate is roughly 70%, which leaves around 30% of the residents looking for apartments and rental properties.
Vermont Apartment Loan and Multifamily Property Facts
Vermont is seeing significant growth in many cities and regions when it comes to new residents seeking multifamily living. Condos and apartment buildings are growing in popularity once again, and with the development going on in some cities, opportunities will be plentiful for the foreseeable future. The 2020 market, like many, was a little slow, but it still made some big impacts.
- Vermont is home to several cities that are prime markets for investors to acquire a rental property investment in for 2021.
- Rents in Vermont are 0.71% lower than the previous year.
- The average rent in Vermont is $985.
The market for commercial real estate in Vermont is huge and growing by the day, thanks to an ever-expanding job market and a growing base of young families who prefer to rent rather than buy a home. Those who get in now will have a better chance of finding the best deals and not overpaying or missing out on the biggest profit potential. The state is expected to see above-average population growth through 2024, contributing to an ever-increasing demand for apartments, condos, and other rental units.
Vermont Apartment Loan and Lending Options
In the state of Vermont, there are several different ways that you can finance your new apartment investment, whether you’re looking for a massive multi-unit tower in Burlington or a simple eight-unit property in an up-and-coming neighborhood of Montpelier. We work with opportunities like:
- Conventional apartment loans
- Fannie Mae apartment financing
- Freddie Mac apartment financing
- FHA/HUD financing
- Mezzanine financing
- CMBS loans
- Bridge loans
- Apartment construction loans
- And more!
Finance Your Vermont Apartment Building Now
The team at Apartment.loans specializes in apartment building loan products and options available for borrowers and investors of apartment properties throughout Vermont. Whether you are looking to finance a small apartment building, a complex with hundreds of units, or a cooperative, our team endeavors to meet all of your apartment mortgage loan needs. Vermont is a state that has been a solid market for apartment property loans and we are no strangers to arranging high-quality loans in the state for investors. We have a plethora of many available loan products to help qualified borrowers purchase or refinance an apartment property.
Apartment.loans offers apartment loans with terms and amortizations of up to 30 years, with recourse and non-recourse options, and flexibility when it comes to prepayment. Vermont apartment building loans typically close within 45 days of application. With the apartment.loans streamlined application process (with no-cost and no-obligations), gain unbiased access to the best possible apartment financing in the state of Vermont!
Apartment loans from $750,000 and up.