Mount Vernon, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Mount Vernon Neighborhoods Since 2000




Mount Vernon, NY Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Mount Vernon Housing Market Information

With a population of 68,628, 24,989 total housing units (homes and apartments), and a median house value of $412,849, 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 43.37% 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 ( 27.86%), single-family detached homes ( 25.56%), and a few row houses and other attached homes ( 3.07%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

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 ( 45.66%), 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 ( 37.17%), followed by between 1970-1999 ( 13.07%). There's also some housing in Mount Vernon built between 2000 and later ( 4.09%).

Vacant housing appears to be an issue in Mount Vernon. Fully 10.34% 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.

Mount Vernon Home Appreciation Rates

Mount Vernon's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mount Vernon during the period has been just -2.04%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Mount Vernon's appreciation rate, at 4.17%, has been at or slightly above the national average. In the latest quarter, Mount Vernon's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New York, our data show that Mount Vernon's latest annual appreciation rate is higher than 60% 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:
$412,849

Mount Vernon, NY HOME PRICES

Value Range
> $1,143,000 0.9
$857,001 - $1,143,000 1.8
$571,001 - $857,000 17.6
$457,001 - $571,000 17.8
$343,001 - $457,000 30.2
$229,001 - $343,000 13.2
$114,001 - $229,000 9.4
$57,001 - $114,000 7.1
$0 - $57,000 1.9

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
8.84800187507325 22.6711560044893

Number Of Homes And Apartments:
24,989

Mount Vernon Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
57.70% 2.68% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,718 / per month

Homeownership Rate

Homeownership
Owners 38.66
Renters 61.34
Vacant 10.34

Housing Market Details

 

Age of Homes

AGE OF Mount Vernon HOMES
2000 or Newer 4.1
1970 - 1999 13.1
1940 - 1969 37.2
1939 or Older 45.7

Types of Homes

TYPE OF Mount Vernon HOMES
Single-Family 25.6
Townhomes 3.1
Small Apt. Buildings 27.9
Apt. Complexes 43.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Mount Vernon HOMES
No Bedroom 5.42
1 Bedroom 30.92
2 Bedrooms 28.34
3 Bedrooms 21.82
4 Bedrooms 8.20
5 or more bedrooms 5.30