Historical data
Pick an indicator to see its long-run evolution.
Median household income
1980–2023Census / ACS, nominal dollars.
GDP
Vermont's gross domestic product totaled approximately $44 billion in 2023, the smallest state economy in the nation.
Real GDP (chained 2017 dollars)
1997–2025BEA, chained 2017 dollars (FRED VTRGSP).
| Indicator | Vermont | U.S. |
|---|---|---|
| GDP per capita ($) | 67900 | 82000 |
- •Vermont has the smallest total GDP of any U.S. state.
- •GlobalFoundries in Essex Junction is a major semiconductor employer.
- •Tourism tied to fall foliage and skiing is a key economic driver.
GDP Growth
Vermont's real GDP growth has been modest but positive, reflecting slow population growth and a mature service-based economy.
Real GDP growth
1998–2025Annual % change in BEA real GDP (VTRGSP).
| Indicator | Vermont | U.S. |
|---|---|---|
| Real GDP growth 2023 (%) | 1.8 | 2.5 |
- •Vermont's growth rate is consistently below the U.S. average.
- •Pandemic-era remote work brought new residents and spending power.
- •Semiconductor manufacturing has boosted recent growth.
Personal Income
Vermont's per capita personal income is approximately $68,000, reflecting a mix of professional, healthcare, and agricultural earnings.
Per capita personal income
1970–2025BEA, current dollars (FRED VTPCPI).
| Indicator | Vermont | U.S. |
|---|---|---|
| Per capita personal income ($) | 68000 | 65423 |
- •Personal income growth accelerated after 2020 due to remote-work migration.
- •Healthcare and education are the largest income-generating sectors.
- •Vermont has one of the lowest state populations, concentrating income data in fewer residents.
Median Household Income
Vermont's median household income was $81,211 in 2023, above the national median.
Median household income (CPS)
1984–2025Census CPS ASEC, current dollars (FRED MEHOINUSVTA646N).
| Indicator | Vermont | U.S. |
|---|---|---|
| Median household income ($) | 81211 | 75149 |
- •Vermont's median household income exceeds the U.S. median.
- •In-migration of remote workers has boosted local incomes since 2020.
- •Rural areas still lag urban centers like Burlington in income.
Poverty Rate
Vermont's poverty rate stands at 10.4%, below the national average, reflecting relatively strong social safety nets and low unemployment.
Poverty rate, all ages (SAIPE)
1989–2024Census Small Area Income and Poverty Estimates (FRED PPAAVT50000A156NCEN).
| Indicator | Vermont | U.S. |
|---|---|---|
| Poverty rate (%) | 10.4 | 11.5 |
- •Vermont's poverty rate is consistently below the U.S. average.
- •Healthcare coverage near 97% helps mitigate poverty impacts.
- •Rural areas face higher poverty than Chittenden County.
Inflation
Vermont has experienced inflation trends similar to the national average, with housing and energy costs (fuel oil, propane) driving increases.
CPI inflation, U.S.
2007–2024BLS CPI-U U.S. city average, annual average change (CPIAUCNS).
CPI inflation, Northeast region
2007–2025BLS CPI-U all items, Northeast region, annual average change (CUUR0100SA0).
- •Vermont's cost of living index of 114.9 is well above the U.S. average of 100.
- •Utility costs are elevated due to reliance on fuel oil and propane for heating.
- •Housing costs contribute significantly to the state's inflation pressures.
Economic Output
Vermont's economic output is concentrated in healthcare, education, manufacturing, and tourism, producing roughly $44 billion annually.
Nominal GDP (current dollars)
1997–2025BEA, current dollars (FRED VTNGSP).
| Indicator | Vermont | U.S. |
|---|---|---|
| Output per capita ($) | 67900 | 82000 |
- •Vermont produces about 50% of all U.S. maple syrup.
- •Ben & Jerry's and Keurig Dr Pepper are major Vermont-based food brands.
- •Exports total roughly $3.4 billion annually.
Industry Breakdown
Vermont's economy is diversified across healthcare, education, manufacturing, agriculture, and tourism, with semiconductors and maple products as notable niches.
Government jobs
1990–2025BLS Current Employment Statistics, annual average (FRED VTGOVT).
Manufacturing jobs
1990–2025BLS Current Employment Statistics, annual average (FRED VTMFG).
Construction jobs
1990–2025BLS Current Employment Statistics, annual average (FRED VTCONS).
| Indicator | Vermont | U.S. |
|---|---|---|
| Manufacturing share of GDP (%) | 9.5 | 10.2 |
- •GlobalFoundries in Essex Junction is one of the largest private employers.
- •Vermont produces about 50% of U.S. maple syrup, roughly 3.1 million gallons.
- •Ben & Jerry's ice cream originated in Vermont.