Vermont Vacancy Report: State Ranks Last in U.S. With 2,498 Empty Properties
Vermont’s real estate market presents a unique landscape for investors, characterized by a scarcity of vacant properties that sets it apart from every other state. As of September 2026, Vermont has just 2,498 vacant properties across 2,770 parcels, the lowest count in the nation. This figure places the state at rank #50 out of 50, representing a mere 0.1% of the total 2,190,678 vacant properties identified across the United States.
The state’s inventory is a fraction of the national per-state average of 43,814, signaling a market defined not by high volume but by the need for precision and targeted acquisition strategies. According to BatchData's Vacancy Rates & Investment Opportunities Report, the vast majority of these opportunities are off-market, requiring investors to look beyond traditional channels to find potential deals. For those engaged in real estate investing, understanding the specific composition and geographic distribution of Vermont’s limited vacant housing stock is essential for navigating this distinctive environment.
Vermont's Vacancy Landscape: An Overview
The defining characteristic of Vermont's vacant property market is its scale. With 2,498 properties flagged as vacant, the state offers a stark contrast to high-volume markets in states like Florida or Texas. This low inventory level suggests a stable housing environment but also means that competition for distressed or value-add opportunities can be concentrated and require deep local knowledge. Investors must operate with the understanding that deals are fewer and farther between, placing a premium on efficient and accurate property identification.
The data reveals a market that operates almost entirely outside the public eye. An overwhelming 97.1% of Vermont's vacant properties, or 2,425 homes and buildings, are off-market. Only 73 properties, representing just 2.9% of the total, are listed for sale on the Multiple Listing Service (MLS). This dynamic renders traditional property search methods largely ineffective for investors seeking vacant inventory. Success in Vermont hinges on the ability to identify and engage with owners of properties that are not being publicly advertised, a task that often requires sophisticated data tools and direct outreach strategies like skip tracing.
Diving deeper into the MLS data underscores the hidden nature of these assets. Among all vacant properties, only 46 are tagged with an "Active" status, making up a scant 1.8% of the total. A much larger share, 478 properties (19.1%), are already marked as "Sold," indicating that many vacant properties transact without ever hitting the active market or are quickly acquired. Furthermore, the largest single category for MLS status is "Unknown," accounting for 1,053 properties or 42.2% of the total. This, combined with the 836 properties (33.5%) explicitly labeled "Off Market," confirms that more than three-quarters of Vermont's vacant inventory exists in a state of ambiguity or privacy, accessible only to those with the right data. The remaining properties are split between "Pending" (27 properties, 1.1%), "Canceled" (50 properties, 2.0%), and "Expired" (8 properties, 0.3%).
What's Driving Vermont's Market
The composition of Vermont's vacant properties provides clear direction for investors, pointing overwhelmingly toward the residential sector. This segment comprises 1,752 properties, or 70.1% of the state's total vacant inventory. These are primarily single-family homes or small multi-family units that represent the core of the opportunity for flippers, landlords, and developers. The prevalence of residential vacancies suggests that most distressed or transitional properties in the state are tied to individual homeowners or mom-and-pop landlords rather than large commercial portfolios.
While the residential sector dominates, other property types offer niche opportunities for specialized investors. Commercial properties are the second-largest category, with 348 vacant units representing 13.9% of the total. These could include empty storefronts, small warehouses, or other business-related structures that may be ripe for repositioning or redevelopment. Following commercial are Exempt properties, such as those owned by non-profits or government entities, with 166 vacant units (6.6%).
The remaining categories are smaller but still notable. Miscellaneous properties account for 84 vacancies (3.4%), while Industrial properties make up 37 units (1.5%). The office sector shows minimal vacancy with 25 properties (1.0%), as does the Recreational category with 20 properties (0.8%). An additional 35 properties (1.4%) have an unknown classification. This detailed breakdown allows investors using a property data API to filter for specific asset classes that align with their business models, whether they are focused on housing, retail, or industrial opportunities.
Geographic Hotspots: Where to Find Vacant Properties
In a low-volume state like Vermont, investment opportunities are not evenly distributed. A handful of counties contain the majority of the state's vacant properties, making them the primary focus for any statewide acquisition strategy. Understanding this geographic concentration is critical for deploying resources effectively.
Windsor County leads the state with 513 vacant properties, making it the top location for investors seeking inventory. It is the only county in Vermont with more than 500 identified vacancies, establishing it as the most significant hub of opportunity. Following closely is Rutland County, which ranks second with 460 vacant properties. Together, these two southern Vermont counties represent a substantial portion of the state's available deals.
The third-largest concentration is found in Chittenden County, home to Burlington and the state's main population center, with 333 vacant properties. Washington County, which includes the state capital Montpelier, ranks fourth with 227 vacancies. Rounding out the top five is Windham County in the southeastern corner of the state, with 202 vacant properties. Investors looking for scale, even on Vermont's modest terms, will find the most options within these five counties. Other notable areas include Bennington County with 173 vacancies and Caledonia County with 113.
Conversely, several counties offer extremely limited inventory, highlighting the need for hyper-local targeting. At the bottom of the list, Grand Isle County has only 11 vacant properties, making it the most challenging market for sourcing deals. Essex County, in the rural Northeast Kingdom, contains just 29 vacant properties. Lamoille County, home to popular ski areas, has 47 vacancies. For investors in these regions, each opportunity is exceptionally rare, and success requires a granular approach and the ability to act quickly when a property becomes available. The remaining counties, including Franklin (106), Orleans (96), Addison (94), and Orange (94), constitute a middle tier of opportunity.
Investor Takeaways
For real estate professionals, Vermont is a market of precision, not volume. The state's position as #50 in the nation for vacant properties, with only 2,498 in total, means that the brute-force tactics effective in larger markets will not work here. Instead, investors must adopt a surgical approach focused on data-driven identification and outreach.
The most critical takeaway is the market's off-market nature. With 97.1% of vacant properties not listed for sale, the MLS is an unreliable source of leads. The key to unlocking inventory lies in identifying these 2,425 hidden opportunities and contacting the property owners directly. This makes tools that provide accurate ownership and contact information, such as those available through a comprehensive property search platform, indispensable.
The market is heavily skewed toward residential assets, which account for 70.1% of all vacancies. This focus is ideal for investors specializing in single-family homes, whether for flipping, rental, or other value-add strategies. Geographically, efforts should be concentrated in the counties with the highest inventory, led by Windsor (513 properties) and Rutland (460 properties). These areas offer the best chance of finding consistent deal flow. In contrast, markets like Grand Isle County, with only 11 vacant properties, require a completely different, more patient strategy.
Ultimately, Vermont's real estate landscape offers a unique challenge. The scarcity of vacant properties creates a competitive environment where information is the primary advantage. Investors who can leverage detailed property data to find the hidden, off-market deals that dominate the state are the ones best positioned for success.