The Current Housing Crisis
The Problem
We often take for granted what it means to have a roof over our head. However, Vermonters face a real crisis in finding safe, affordable housing. The COVID-19 Pandemic caused unprecedented changes to Vermont's housing market. Apartments became harder to find, resulting in a dramatic increase in homelessness and significant rent increases to tenants and a growing affordability gap. Unfortunately, affordable housing scarcity remains an issue with many are wondering how long they can stay in their housing as costs continue to rise.
(Courtesy: National Low-Income Housing Coalition)
The Affordability Gap
The increase in demand for apartments is driven, in part, by the skyrocketing price of real estate. Potential homebuyers face few houses to choose from at much higher prices. Recent increases to interest rates have widened the affordability gap homebuyers, particularity first-time homebuyers, face in trying to find their dream home. Many are wondering if that dream will ever become a reality.
(Courtesy: Vermont Association of Realtors)
Low Supply, High Demand
The lack of housing stock, both homeownership and rental, has led to a dramatic increase in homelessness in our area. We have seen well over 100 households experiencing homelessness in the Northeast Kingdom at any given point and, until recently, there were no emergency shelters in the area. In the fall of 2023, RuralEdge was able to purchase a property at 72 Moose River Drive and convert it into a 20-unit shelter which is now being operated by Northeast Kingdom Community Action. However, while the shelter is a valuable resource to those who reside there, it falls far short of addressing the wider concern faced by those experiencing homelessness and many are asking themselves a question none of us want to face: "where am I going to sleep tonight?"
(Image Data Courtesy: US Dept. of Housing and Urban Development)
How RuralEdge Makes a Difference
RuralEdge envisions Northeast Kingdom communities where every individual can live in stable, affordable housing with access to the services they need to live a healthy and prosperous life.
Since 1986, RuralEdge has worked hard to provide safe, quality, affordable housing for all income levels, stabilize households to keep their housing, all while providing supportive services to empower renters and homeowners to stay in their housing safely as long as possible. Even in the face of a dramatic housing crisis, our staff work hard every day to make a difference. Whether it is helping a household sign a lease to come out of homelessness, working with someone to stabilize their budget for long-term success, or providing SASH participants with food from Veggie Van Go, all of our services are geared towards our mission of strengthening Northeast Kingdom communities, one home at a time!
Developing New Housing
Perhaps the most commonly considered solution to a housing shortage is to build more housing. One of the greatest undertakings of RuralEdge is the implementation of new construction and rehabilitation projects across the Northeast Kingdom to improve and expand our rental portfolio. The goal of our real estate development team is to provide safe, affordable, and quality housing to households of varying incomes and backgrounds. Along with the physical quality of buildings, these developments bring economic benefits to the broader community in the form of employment, expanded tax base, and strengthening further development in the towns we serve.
Operating a Portfolio of Affordable Housing
RuralEdge prides itself on providing nearly 700 residential and some commercial rental units across the Northeast Kingdom, including: developments for senior populations, as well as developments with both market-rate units and units based on income. No matter the unit, the goal of our property management team is to provide quality, safe, and healthy living conditions in all of our properties.
Assisting Potential & Current Homeowners
As a NeighborWorks Organization, RuralEdge has a HomeOwnership Center that provides empowerment through education to prospective and current homeowners. Pre-purchase and post-purchase counseling is provided through workshops for prospective homebuyers, and our home repair program assists current homeowners to stay in their homes safely. The goal of our HOC team is to provide the education and support individuals need to realize their dream of owning a safe and reliable home.
View our HomeOwnership Center Programs
Supporting Our Residents & Communities
At RuralEdge, we pride ourselves on being more than a landlord. The business of affordable housing is about more than just buildings. At RuralEdge, we know that we are housing people! We house people that come from a diversity of backgrounds, with different skills and something to offer the communities they live in. We seek to provide the structures and opportunities for each of our residents to realize their full potential, no matter their state or conditions in life. We do this primarily through our Support and Services at Home (SASH), Community Building and Engagement efforts, and Eviction Prevention work.
You Can Make a Difference!
We know that a crisis as significant as housing cannot be solved by one organization alone. It truly takes a village, and we value the many partnerships we have established, both with organizations and community members, that make our work possible. Can you envision Northeast Kingdom communities where every individual can live in stable, affordable housing with access to the services they need to live a healthy and prosperous life? Can you help us strengthen Northeast Kingdom Communities, one home at a time? Your contribution of time, talent, or financial support will go a long way to continuing this life-changing work in Northeast Kingdom communities!
Questions?
For questions or more information about the important work we do, send us an email or call our main office at (802) 535-3555.