The typical owner-occupied home in Chester is worth about $261,900, 17% below the Vermont median of $316,600 and 21% below the national median of $332,700. Owners pay a median $4,535 a year in property taxes, about 1.73% of their home's value, higher than the Vermont rate of 1.59%. The median household earns $64,265 a year, so the median home costs 4.1 times the median income (3.9 times for Vermont). 71% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Chester at a glance
| Chester | Vermont | U.S. | |
|---|---|---|---|
| Median home value | $261,900 | $316,600 | $332,700 |
| Median property tax paid per year | $4,535 | $5,039 | $3,119 |
| Property tax as a share of value | 1.73% | 1.59% | 0.94% |
| Median household income | $64,265 | $81,203 | $80,734 |
| Homes lived in by their owners | 71% | 73% | 65% |
| Owner homes with a mortgage | 70% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,594 | $1,907 | $1,963 |
| Those costs as a share of the owners' income | 24.1% | 21.7% | 21.0% |
| Median rent | $959 | $1,234 | $1,413 |
| Rent as a share of renters' income | 20.5% | 29.4% | 30.6% |
| Median year homes were built | 1938 | 1976 | 1980 |
| Vacant homes | 31.0% | 19.4% | 10.1% |
| Population | 1,298 | 647,106 | 334,922,499 |
What a typical home costs per month in Chester
At this week's average 30-year rate of 7.11%, buying the median Chester home of $261,900 with 20% down costs about $1,896 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,332, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $81,264 for the 20%-down payment. That payment is 35% of the median Chester household income of $64,265; at that income and 20% down, the 28% guideline points to a home of about $207,000.
The median rent here is $959 a month, so owning the median home costs about $937 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $52,380 |
|---|---|
| Loan amount | $209,520 |
| Principal and interest | $1,409 |
| Property taxes (1.73% a year) | $378 |
| Homeowners insurance (our estimate, 0.5% a year) | $109 |
| PMI | $0 |
| Total per month | $1,896 |
Change the numbers in the calculator
| Down payment | $9,166 |
|---|---|
| Loan amount | $257,156 |
| Principal and interest | $1,730 |
| Property taxes (1.73% a year) | $378 |
| Homeowners insurance (our estimate, 0.5% a year) | $109 |
| FHA mortgage insurance | $116 |
| Total per month | $2,332 |
Change the numbers in the calculator
Questions about home buying in Chester
What is the median home value in Chester?
About $261,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Chester?
Homeowners pay a median $4,535 a year, which is about 1.73% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Chester?
For the median home with 20% down at 7.11%, the payment is about $1,896 a month. Keeping that under 28% of gross income takes about $81,264 a year.
More about Chester
- Mortgage Refinance in Chester
- Debt Relief in Chester
- Home Equity Loans in Chester
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data