Mount Vernon, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Mount Vernon Neighborhoods Since 2000




Mount Vernon, OH 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 16,742, 6,941 total housing units (homes and apartments), and a median house value of $119,542, 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 62.81% 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 ( 19.07%), large apartment complexes or high rise apartments ( 12.24%), and a few mobile homes or trailers ( 3.27%).

The most prevalent building size and type in Mount Vernon are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.17% owning and 52.83% renting.

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 31.30% of the city's housing hails from this era. Other housing ages represented in Mount Vernon include homes built before 1939 ( 28.23%) and housing constructed between 1970-1999 ( 27.86%). There's also some housing in Mount Vernon built between 2000 and later ( 12.61%).

Mount Vernon Home Appreciation Rates

Real estate appreciation rates in Mount Vernon's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.65% during the period.

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 0.52%, 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 -0.60%, which equates to an annual appreciation rate of -2.39%.

Notably, Mount Vernon's appreciation rate in the latest quarter is one of the lowest in America.

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

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:
$119,542

Mount Vernon, OH HOME PRICES

Value Range
> $1,057,000 0.3
$793,001 - $1,057,000 0.0
$528,001 - $793,000 0.3
$423,001 - $528,000 0.2
$317,001 - $423,000 4.3
$211,001 - $317,000 10.5
$106,001 - $211,000 41.7
$53,001 - $106,000 34.8
$0 - $53,000 7.9

Low for OH
Low for Nation

Value Relative to Nation Value Relative to State
65.6158443689207 63.254593175853

Number Of Homes And Apartments:
6,941

Mount Vernon Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
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
11.11% 0.61% 6 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$880 / per month

Homeownership Rate

Homeownership
Owners 47.17
Renters 52.83
Vacant 7.83

Housing Market Details

 

Age of Homes

AGE OF Mount Vernon HOMES
2000 or Newer 12.6
1970 - 1999 27.9
1940 - 1969 31.3
1939 or Older 28.2

Types of Homes

TYPE OF Mount Vernon HOMES
Single-Family 62.8
Townhomes 2.6
Small Apt. Buildings 19.1
Apt. Complexes 12.2
Mobile Homes 3.3
Other 0.0

Home Size

SIZE OF Mount Vernon HOMES
No Bedroom 2.62
1 Bedroom 13.44
2 Bedrooms 29.11
3 Bedrooms 40.91
4 Bedrooms 12.06
5 or more bedrooms 1.87