Mount Vernon WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Mount Vernon, WA 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (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 Housing Market Information

With 36,006 people, 12,115 houses or apartments, and a median cost of homes of $349,260, Mount Vernon real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Mount Vernon, accounting for 63.94% of the city's housing units. Other types of housing that are prevalent in Mount Vernon include large apartment complexes or high rise apartments ( 19.56%), duplexes, homes converted to apartments or other small apartment buildings ( 8.39%), and a few mobile homes or trailers ( 5.03%).

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 59.10% owning and 40.90% 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 2000 and later ( 23.67%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.22%). There's also some housing in Mount Vernon built before 1939 ( 9.87%).

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 54.31% over the last ten years, which is an average annual home appreciation rate of 4.43%, putting Mount Vernon in the top 20% 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.

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 3.72%, 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 2.08%, which equates to an annual appreciation rate of 8.59%.

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 Washington, our data show that Mount Vernon's latest annual appreciation rate is lower than 90% of the other cities and towns in Washington.

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:
$349,260

Mount Vernon, WA HOME PRICES

Value Range
> $1,414,000 0.0
$1,061,001 - $1,414,000 0.7
$707,001 - $1,061,000 3.1
$566,001 - $707,000 7.6
$424,001 - $566,000 17.9
$283,001 - $424,000 35.8
$141,001 - $283,000 22.5
$71,001 - $141,000 3.5
$0 - $71,000 8.8

Average for WA
Very High for Nation

Value Relative to Nation Value Relative to State
16.578102189781 45.583038869258

Number Of Homes And Apartments:
12,115

Mount Vernon Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
112.52% 3.70%
3
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,494 / per month

Homeownership Rate

Homeownership
Owners 59.10
Renters 40.90
Vacant 5.14

Housing Market Details

 

Age of Homes

AGE OF Mount Vernon HOMES
2000 or Newer 23.7
1970 - 1999 50.2
1940 - 1969 16.2
1939 or Older 9.9

Types of Homes

TYPE OF Mount Vernon HOMES
Single-Family 63.9
Townhomes 3.0
Small Apt. Buildings 8.4
Apt. Complexes 19.6
Mobile Homes 5.0
Other 0.1

Home Size

SIZE OF Mount Vernon HOMES
No Bedroom 4.12
1 Bedroom 9.34
2 Bedrooms 26.01
3 Bedrooms 44.50
4 Bedrooms 13.59
5 or more bedrooms 2.44