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Retirees Find Plentiful Cultural
and Recreational Opportunities in Picturesque Burlington, Vermont
Cost of Living: Above the National Average
| Located on a hill with views of the
Adirondack Mountains and overlooking sparkling Lake
Champlain, the sixth largest lake in the United States,
Burlington, Vermont (population 40,000) is a picturesque
New England college town with roughly 4,000 retiree
residents who enjoy beautiful scenery, a high quality of
life and socially progressive politics.
Burlington dates from the 1770s, its most famous
residents being the revolutionary Ethan Allen and Ben
and Jerry (of ice cream fame), and it has been an
important sea port and military post. In the
1980s and 1990s, the town began to focus on
revitalization; today its inviting waterfront boasts
shops, galleries and restaurants, and Church Street,
complete with a white, steeple Unitarian church at one
end, is a lively, downtown pedestrian mall that attracts
residents of all ages.
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Overall, Burlington's cost-of-living is about 12% above
the national average, and real estate is considered to be
25% above the national average. About a half mile from
downtown is the University of Vermont (8,000 students), and
as one heads in this direction, one passes through the Hill
Section, a desirable area full of charming, 2-4 bedroom
Italianate, Queen Anne and Colonial Revival-style residences
of the late 19th and early 20th centuries. Prices here
start in the high $300,000s - low $400,000s and climb
considerably higher. Older homes needing some
repair work can be found in other neighborhoods and start in
the high $100,000s, and lovely, newer, single-family homes
with 2-3 bedrooms, 2 baths and nice lots are located
throughout town starting in the low to mid
$200,000s. |
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Burlington also has a good selection of
condominiums and town homes. Some are in new developments;
others are conversions in turn-of-the-last-century, Victorian
homes. The least expensive condo we found was a 880
square foot unit (built in 1994) with 2 bedrooms, 1 bath for
$159,000. The most expensive town home was a luxury unit
with 3 bedrooms, 3 baths, an open floor plan and gorgeous Lake
views for $995,000; units can be found for nearly any price in
between. This being a college town, apartments are
plentiful, but most are rented to students. On average, one
bedroom units begin at $650 per month; 2 bedroom units start at
$850 per month. Burlington also has one manufactured
home park (Farrington's Mobile Home Park ~ 802-864-5238);
homes start at about $22,000. We also found for sale many
mobile homes on private land on the outskirts of town. Vermont's
property taxes are high and have always been higher than most
other states in the nation, although some homeowners receive
significant breaks. Property
taxes are calculated by dividing the listed value by 100 and
multiplying that by the combined school and municipal tax rate
(for Burlington, this is 1.72). Thus, the owner of a home
with a listed value of $100,000 would pay $1,720 a year in
property taxes. Owners of primary residences whose household
income is under $85,000 (or, starting in 2007, under $90,000) may
qualify for greatly reduced school taxes on their home and up to 2
acres. Primary home owners with incomes under $47,000 may
qualify instead for a reduction in their assessment, and/or a
significant rebate on their total property taxes, including
municipal taxes. Burlington,
Vermont, Continued.....
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