Commercial Real Estate Market in Underhill, VT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
7 active listings and 47 off-market properties in Underhill, VT.
Market Trends
Underhill, VT spans 58.9 square miles in Chittenden County, Vermont. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Underhill, VT runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Underhill, VT runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Underhill, VT runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Underhill, VT asks $290/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Open space 59.6%
- Commercial 33.5%
Largest Zones share of zoned land by district
Soil And Water Conservation
Rural Residential
Water Conservation
Mount Mansfield Scenic Preservation
Underhill Flats VIllage Center
Underhill, VT zones 32,827 acres across 6 districts. Commercial zoning covers 33.5% of zoned land, open space 59.6%. The largest single district is Soil And Water Conservation at 52.1%. For commercial buyers the practical constraint is that only 33.5% of land carries a commercial or industrial designation.
Soil And Water Conservation (SWC)
The purpose of SWC zone is to includes significant headwater and aquifer recharge areas, unique and fragile natural areas, critical wildlife habitat, and mountainsides and ridges characterized by steep slopes and shallow soils
Market overview
Demographics & Economy
Underhill, VT has 3,355 residents in 1,381 households. Density runs 57 people per square mile. Median household income here is $88,015 and median gross rent $954 a month.
3,355
Population
1,381
Households
2.4
Avg Household Size
46
Median Age
45%
College-Educated
98%
High-School Grad
58.9 sq mi
ZIP Area
57
Density / Sq Mi
$88,015
Median Household Income
$47,500
Median Earnings
$954
Median Rent
$406,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Underhill Flats | — | — |
| Underhill Center | — | — |
| Jericho | — | — |
| Westford | — | — |
Commercial property in Underhill, VT asks $677/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Underhill?
Commercial property in Underhill, VT asks an average of $677 per square foot. Multifamily carries the highest asking price at $290/SF.
What zoning applies to commercial property in Underhill?
Underhill, VT zones 32,827 acres across 6 districts, of which 33.5% is commercial and 0% industrial. The largest single district is Soil And Water Conservation at 52.1% of zoned land. The purpose of SWC zone is to includes significant headwater and aquifer recharge areas, unique and fragile natural areas, critical wildlife habitat, and mountainsides and ridges characterized by steep slopes and shallow soils Residential zoning covers 0% and open space 59.6%.
Where does Realmo's Underhill market data come from?
Realmo compiles Underhill, VT figures from 4 recent recorded sales, 7 active sale listings, 47 tracked off-market properties, the current Underhill zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 7 active for-sale and 0 active for-lease listings in Underhill, VT. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 32,827 zoned acres across 6 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
