With a northern border shared with Canada, Vermont is one of the northeastern states and one of the least populated territories among the 50 states. Much of the state is countryside and forestland. The major population centers include Burlington, South Burlington, Colchester, Rutland, Barre, Montpelier the capital, Winooski, and St. Albans among others. Most of the state's concentrated population lives in and around Burlington in the northwest, with the rest of the region sparsely inhabited. For many, the spread-out communities are part of the allure of the state, especially for those who want to get away from the big cities.

The Green Mountain State is home to roughly 647,000 residents as of the U.S. Census Bureau's 2024 estimate, making it the second least populous state after Wyoming. Vermont also has one of the smallest state economies by total gross domestic product, though it fares much better in per-capita measures such as median household income.

Places to Live in VT

As of 2025, the typical Vermont home is valued at roughly $400,000 according to Zillow's home value index, though prices vary widely by region and have risen sharply over the past decade. More expensive markets include Woodstock, Stowe, and the Burlington area, while towns like Barre and Rutland tend to offer more affordable options for homebuyers. Vermont is a small state, so local data can shift quickly and should be taken as a general guide rather than a precise figure.

Burlington

Burlington is Vermont's largest city, with roughly 44,000 residents as of recent Census estimates, and its metro area accounts for a large share of the state's population. The city is notable as the founding place of Ben & Jerry's ice cream. The local economy is anchored by services such as healthcare and education, along with manufacturing and transportation.

South Burlington

South Burlington is the state's second-largest city, with roughly 20,000 residents, and has been one of Vermont's fastest-growing communities. Sitting just south of Burlington along Lake Champlain, it is a commercial hub that is home to the state's largest airport and shopping district.

Rutland

With roughly 15,000 residents, Rutland is one of Vermont's largest cities yet remains small enough that parts of the surrounding area can qualify for USDA rural home loans, which are aimed at less densely populated communities. Downtown Rutland is listed on the National Register of Historic Places.

Banks, Credit Unions & More

For such a small state, Vermont has a healthy range of banking options. Consumers can choose between local banks, credit unions, and larger regional banks that maintain branches within the state. For many, convenience is a key factor; it's important to find a financial institution with locations near you. Also keep in mind that when you're shopping for a home loan, community lenders can sometimes originate mortgages that you would not be able to get from a larger bank or a traditional mortgage banker. This is because local banks and credit unions often keep loans in their portfolios and thus do not need to answer to outside investors.

Community banks:

  1. Community National Bank
  2. Mascoma Bank
  3. Northfield Savings Bank
  4. Union Bank
  5. Wells River Savings Bank

Local credit unions:

  1. EastRise Credit Union (formed by the merger of New England Federal Credit Union and VSECU)
  2. North Country Federal Credit Union
  3. Vermont Federal Credit Union
  4. Heritage Family Credit Union
  5. One Credit Union
  6. Members Advantage Community Credit Union
  7. Opportunities Credit Union

Regional banks with local branches & ATMs:

  1. Citizens Bank
  2. KeyBank
  3. NBT Bank
  4. TD Bank

You have a lot of options for finding the consumer banking products that you need. For quick and easy comparisons of CDs, auto loans, and more, try RateZip.com's financial search engine. With a database full of banks in VT and across America, you'll have a helping hand in finding a competitive interest rate.

Vermont Home Buying

If you're planning a move to Vermont, it's worth reviewing current financing options for the region before you buy via RateZip.com. For those already living in the Green Mountain State, refinancing an existing home loan may make sense depending on where rates stand and your goals. Our network of lenders includes institutions local to VT and the northeast along with others who lend across the country.

First-Time Homebuyer Assistance

Vermont first-time buyers should look into programs from the Vermont Housing Finance Agency (VHFA). VHFA offers fixed-rate mortgage options such as its MOVE program along with down payment and closing-cost assistance through its ASSIST program, and additional help may be available for first-generation homebuyers. Eligibility, loan limits, and required homebuyer education can change over time, so confirm the current details directly with VHFA before applying.

Refinancing Your Home Loan

Vermont homeowners may be able to lower their monthly payment, shorten their loan term, or tap home equity by refinancing, depending on current market rates and how much equity they have built. Whether refinancing makes sense depends on your individual situation, so it pays to compare current offers and run the numbers before deciding. You can use RateZip.com to compare options from lenders that serve Vermont.