Mount Vernon, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mount Vernon, TX 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 2,753, 1,080 total housing units (homes and apartments), and a median house value of $100,009, 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 77.08% of the town's housing units. Other types of housing that are prevalent in Mount Vernon include duplexes, homes converted to apartments or other small apartment buildings ( 11.74%), large apartment complexes or high rise apartments ( 5.91%), and a few mobile homes or trailers ( 4.95%).

The most prevalent building size and type in Mount Vernon are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 57.38% owning and 42.62% renting.

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 ( 30.19%). A lesser amount of the housing stock also hails from before 1939 ( 10.38%). There's also some housing in Mount Vernon built between 2000 and later ( 7.03%).

Vacant housing appears to be an issue in Mount Vernon. Fully 13.74% 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

In the last 10 years, Mount Vernon has experienced some of the highest home appreciation rates of any community in the nation. Mount Vernon real estate appreciated 26.64% over the last ten years, which is an average annual home appreciation rate of 2.39%, putting Mount Vernon in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Mount Vernon definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Mount Vernon's appreciation rate, at 5.00%, has been at or slightly above the national average. In the latest quarter, Mount Vernon's appreciation rate has been 0.45%, which annualizes to a rate of 1.82%.

Relative to Texas, our data show that Mount Vernon's latest annual appreciation rate is lower than 60% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$100,009

Mount Vernon, TX HOME PRICES

Value Range
> $1,134,000 0.1
$850,001 - $1,134,000 0.0
$567,001 - $850,000 0.3
$454,001 - $567,000 0.2
$340,001 - $454,000 1.9
$227,001 - $340,000 10.0
$113,001 - $227,000 32.1
$57,001 - $113,000 29.6
$0 - $57,000 25.8

Low for TX
Low for Nation

Value Relative to Nation Value Relative to State
77.5284190788703 64.9805447470817

Number Of Homes And Apartments:
1,080

Mount Vernon Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
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
82.00% 3.53% 7 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$878 / per month

Homeownership Rate

Homeownership
Owners 57.38
Renters 42.62
Vacant 13.74

Housing Market Details

 

Age of Homes

AGE OF Mount Vernon HOMES
2000 or Newer 7.0
1970 - 1999 52.4
1940 - 1969 30.2
1939 or Older 10.4

Types of Homes

TYPE OF Mount Vernon HOMES
Single-Family 77.1
Townhomes 0.3
Small Apt. Buildings 11.7
Apt. Complexes 5.9
Mobile Homes 5.0
Other 0.0

Home Size

SIZE OF Mount Vernon HOMES
No Bedroom 0.00
1 Bedroom 5.03
2 Bedrooms 32.03
3 Bedrooms 42.65
4 Bedrooms 17.97
5 or more bedrooms 2.32

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Zip Codes in Mount Vernon, TX