Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 15,087 people, 6,713 houses or apartments, and a median cost of homes of $95,682, house prices in Mount Vernon are solidly below the national average.
Single-family detached homes are the single most common housing type in Mount Vernon, accounting for 69.08% of the city's housing units. Other types of housing that are prevalent in Mount Vernon include large apartment complexes or high rise apartments ( 18.10%), mobile homes or trailers ( 6.16%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.81%).
People in Mount Vernon primarily live in small (one, two or no bedroom) single-family detached homes. Mount Vernon has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Mount Vernon's housing was primarily built during this period, from the '40s through the '60s. A full 39.13% of the city's housing hails from this era. Other housing ages represented in Mount Vernon include homes built between 1970-1999 ( 35.50%) and housing constructed before 1939 ( 19.70%). There's also some housing in Mount Vernon built between 2000 and later ( 5.68%).
Vacant housing appears to be an issue in Mount Vernon. Fully 10.35% of the housing stock is classified as vacant. Left unchecked, vacant Mount Vernon homes and apartments can be a drag on the real estate market, holding Mount Vernon real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Mount Vernon have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.39%, which ranks in the top 40% nationwide. This equates to an annual average Mount Vernon house appreciation rate of 0.72%.
NeighborhoodScout's data show that during the latest twelve months, Mount Vernon's appreciation rate, at 4.55%, has been at or slightly above the national average. In the latest quarter, Mount Vernon's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.
Relative to Illinois, our data show that Mount Vernon's latest annual appreciation rate is higher than 80% of the other cities and towns in Illinois.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Mount Vernon differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mount Vernon - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Mount Vernon real estate investment or home purchase decisions.
|$817,001 - $1,090,000||0.0|
|$545,001 - $817,000||0.3|
|$436,001 - $545,000||0.5|
|$327,001 - $436,000||1.4|
|$218,001 - $327,000||7.2|
|$109,001 - $218,000||27.0|
|$55,001 - $109,000||28.0|
|$0 - $55,000||35.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Mount Vernon HOMES|
|2000 or Newer||5.7|
|1970 - 1999||35.5|
|1940 - 1969||39.1|
|1939 or Older||19.7|
|TYPE OF Mount Vernon HOMES|
|Small Apt. Buildings||5.8|
|SIZE OF Mount Vernon HOMES|
|5 or more bedrooms||2.44|