Mount Vernon, NY Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Mount Vernon, NY Housing Market Trends

With 67,345 people, 25,763 houses or apartments, and a median cost of homes of $456,856, real estate costs in Mount Vernon are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New York communities.

Large apartment complexes or high rise apartments are the single most common housing type in Mount Vernon, accounting for 45.69% of the city's housing units. Other types of housing that are prevalent in Mount Vernon include duplexes, homes converted to apartments or other small apartment buildings ( 29.57%), single-family detached homes ( 20.83%), and a few row houses and other attached homes ( 3.50%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

People in Mount Vernon primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Mount Vernon has a mixture of owner-occupied and renter-occupied housing.

The housing in Mount Vernon was primarily built before 1939 ( 46.31%), making the housing stock in Mount Vernon some of the oldest overall in America, although there is a range of ages of homes in Mount Vernon. The next most important housing age is between 1940-1969 ( 37.69%), followed by between 1970-1999 ( 11.54%). There's also some housing in Mount Vernon built between 2000 and later ( 4.46%).

Mount Vernon Home Appreciation Rates

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 42.88%, which ranks in the top 50% nationwide. This equates to an annual average Mount Vernon house appreciation rate of 3.63%.

Over the last year, Mount Vernon appreciation rates have trailed the rest of the nation. In the last twelve months, Mount Vernon's appreciation rate has been 7.86%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mount Vernon were at 3.17%, which equates to an annual appreciation rate of 13.31%.

Relative to New York, our data show that Mount Vernon's latest annual appreciation rate is lower than 80% of the other cities and towns in New York.

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.

Average Home Values

 

Median Home Value:
$456,856

Mount Vernon, NY HOME PRICES

> $1,280,000
0.8%
0.8%
$960,001 - $1,280,000
3.2%
3.2%
$640,001 - $960,000
18.5%
18.5%
$512,001 - $640,000
17.5%
17.5%
$384,001 - $512,000
27.8%
27.8%
$256,001 - $384,000
14.8%
14.8%
$128,001 - $256,000
9.9%
9.9%
$64,001 - $128,000
5.1%
5.1%
$0 - $64,000
2.4%
2.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for NY

Value Relative To Nation

Number Of Homes And Apartments:
25,763

Mount Vernon Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
107.99% 3.46%
6
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,376 / per month

Homeownership Rate

Owners
37.2%
37.2%
Renters
62.8%
62.8%
Vacant
7.1%
7.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.5%
4.5%
1970 - 1999
11.5%
11.5%
1940 - 1969
37.7%
37.7%
1939 or Older
46.3%
46.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
20.8%
20.8%
Townhomes
3.5%
3.5%
Small Apt. Buildings
29.6%
29.6%
Apt. Complexes
45.7%
45.7%
Mobile Homes
0.4%
0.4%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
6.6%
6.6%
1 Bedroom
31.0%
31.0%
2 Bedrooms
27.5%
27.5%
3 Bedrooms
21.4%
21.4%
4 Bedrooms
8.3%
8.3%
5 or more bedrooms
5.1%
5.1%
0.0% 100.0%
% OF HOMES