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 a population of 6,499, 2,742 total housing units (homes and apartments), and a median house value of $117,229, 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 77.89% of the city's housing units. Other types of housing that are prevalent in Mount Vernon include large apartment complexes or high rise apartments ( 12.39%), mobile homes or trailers ( 5.50%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.68%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mount Vernon. Owner-occupied housing accounts for 66.41% of Mount Vernon's homes, and 56.42% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Mount Vernon built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Mount Vernon built between 1940-1969 ( 34.56%). A lesser amount of the housing stock also hails from before 1939 ( 19.81%). There's also some housing in Mount Vernon built between 2000 and later ( 3.99%).
Vacant housing appears to be an issue in Mount Vernon. Fully 13.77% 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 21.89%, which ranks in the top 40% nationwide. This equates to an annual average Mount Vernon house appreciation rate of 2.00%.
Appreciation rates are so strong in Mount Vernon that despite a nationwide downturn in the housing market, Mount Vernon real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mount Vernon appreciation rates continue to be some of the highest in America, at 11.16%, which is higher than appreciation rates in 94.17% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mount Vernon. Mount Vernon appreciation rates in the latest quarter were at 3.48%, which equates to an annual appreciation rate of 14.65%.
Importantly, this makes Mount Vernon one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Indiana, our data show that Mount Vernon's latest annual appreciation rate is higher than 90% of the other cities and towns in Indiana.
|$879,001 - $1,172,000||0.0|
|$586,001 - $879,000||0.0|
|$469,001 - $586,000||0.0|
|$352,001 - $469,000||0.9|
|$235,001 - $352,000||7.2|
|$117,001 - $235,000||39.1|
|$59,001 - $117,000||42.9|
|$0 - $59,000||9.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
2000 Q1 - 2019 Q1
|* 10 is highest|
|AGE OF Mount Vernon HOMES|
|2000 or Newer||4.0|
|1970 - 1999||41.6|
|1940 - 1969||34.6|
|1939 or Older||19.8|
|TYPE OF Mount Vernon HOMES|
|Small Apt. Buildings||3.7|
|SIZE OF Mount Vernon HOMES|
|5 or more bedrooms||3.36|