Economics of home sharing
- Home Providers are able to maintain their property tax credits with proof of a Home Share Now agreement thanks to law H.480 passed by the Vermont Legislature. This law only affects Act 60 income adjustment which in turn affects your property taxes.
- Share the LIHEAP love! If either party in a home share match are eligible for Vermont’s fuel benefits from LIHEAP (Low Income Home Energy Assistance Program) both the home seeker and the home provider can benefit.
- Reduce the financial cost of caring for a child, a parent, or other family member.
- Share the cost of fuel, utilities, food, transportation, etc.
- Give, receive, or exchange services.
- The average home share stipend, $340/month versus $850/month for a one bedroom apartment rental in our service area. This added up to $81,780 in rental savings in FY2014.
What is a home share worth?
Lots of folks have questions about what services are worth. While it’s hard to put a price tag on many aspects of home sharing, you might find these 2012 rates helpful for comparison:
- A house cleaner working 4 hours/week makes $184/month
- A food preparer working 15 hours/week makes $653/month
- An animal caretaker working 1 hour/week makes $48/month
- A home maintenance and repair service provider working 2 hours/week makes $140/month
- A hired driver working 2 hours/week makes $96/month
Sources:
U.S. Bureau of Labor Statistics’ for the State of Vermont
U.S. Department of Housing and Urban Development (HUD)