Burlington Does Not Have a Housing Crisis. It Has a Homeownership Crisis.
The supply of land available for new single-family homes has effectively been exhausted. At the same time, in much of Burlington—particularly among homes built before 1970—the value of the existing house is increasingly comparable to, or even less than, the value of the land on which it sits.
The result is a trend we can already see throughout town: smaller, older homes are being purchased, demolished, and replaced with larger and more expensive homes. As property values continue to rise, this trend is likely to accelerate.
What does that mean for Burlington's future?
It means that the children and young families who grew up here are increasingly being priced out of the community they call home. A generation of Burlington residents may find that they can afford to live here only as renters—or not at all.
There is, however, one significant opportunity remaining: converting underperforming commercial properties into housing.
But we need to be careful about what kind of housing we create.
When these properties are converted into extremely high-density, rental-only developments, we may increase the number of housing units without creating meaningful opportunities for homeownership. And when those properties are owned by large investment firms or private-equity interests, much of the financial benefit of Burlington's rising property values leaves the community.
That is not the outcome Burlington should be pursuing.
If we are serious about keeping young families and first-time buyers in Burlington, we need a housing policy that creates opportunities for residents to become homeowners—not simply more opportunities for investors to collect rent.
The question we should be asking is:
How do we make sure that the economic value created by new housing benefits Burlington residents rather than primarily benefiting outside investors?
How can this trend be reversed?
A simple measure by Town Meeting could send a clear message to developers and the Planning Board that Burlington's housing policy should prioritize homeownership rather than enormous rental properties.
Be it resolved that Town Meeting will not approve a residential rezoning unless the proposed development is a condominium project with no more than 20 units per acre and includes at least 50% studio and one-bedroom units.
Such a policy would not eliminate housing development. Instead, it would establish a clear preference for smaller-scale condominium development that creates opportunities for ownership while still adding housing to the community.
Burlington needs to stop measuring housing success simply by counting units.
We should measure success by whether a young family that grew up in Burlington can actually afford to buy a home here.
It is time to make homeownership—not rental investment—the priority.