NeighborWorks HomeOwnership Centers of Vermont
Vermont CentersBurlington (ChamplainValley)Lyndonville (Northeast Kingdom)St. Albans (Northwest VT)Barre/Montpelier (Central VT)West Rutland (Southwest VT)Springfield (Southeast VT)
 
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Homeownership is good for Vermonters
The median wealth of a low-income homeowner under the age of 65 is 12 times greater than that of a similar income renter.
Over 66% of the total worth of a low-income homeowner is stored as home equity.
Homeowners are less likely to move, more likely to establish friendships and neighborhood commitments, and more likely to become involved in schools and local politics.
Children of homeowners are 116% more likely to go to college than the children of renters, even after considering age, income, and length of stay in a community.
Children of homeowners are 59% more likely to become homeowners themselves.
Homeowners utilize their accrued home equity to start a business, save for college, prepare for retirement, and create greater economic independence and stability.

Homeownership provides economic benefits to Vermont
Each time a home is purchased , many industries benefit. When the last 361 homes were purchased, the combined value of the realtors' fees, insurance policies, and state and local taxes was $2.1 million. 1,000 new homeowners are projected to bring close to $6 million in similar benefits.
When people buy a home, they spend on improvements. The 1,000 new homeowners created through VHI are projected to spend as much as $2.7 million on their home improvements.
The NeighborWorks Alliance of Vermont advanced $2 million in construction and $2.9 million in related spin-off economic activity including 31 local jobs and $62,000 in taxes from the first 361 homebuyers.
In the initial phase, 71 potential foreclosures were avoided through counseling that would have cost homeowners and their lenders $1.6 million.

 
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