Cost of Living in Fairfax, VT

With a cost of living index of 94, Fairfax, VT is slightly more affordable than average. Living here is 6% cheaper than the national average and 3% above the Vermont state average of 92. Fairfax is a small community of 886 residents.

Housing costs are the biggest factor in Fairfax's cost of living. The median monthly rent is $1,009 (24% below the US median of $1,319), and the median home value sits at $348,600 (14% above the national median of $304,900). At current prices, the median home costs roughly 6.2x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Fairfax is $56,667, which is 25% lower than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Everyday prices in the Burlington-South Burlington, VT (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.