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 Q1 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (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 34,590, 11,512 total housing units (homes and apartments), and a median house value of $290,126, 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 59.04% of the city's housing units. Other types of housing that are prevalent in Mount Vernon include large apartment complexes or high rise apartments ( 22.84%), duplexes, homes converted to apartments or other small apartment buildings ( 8.98%), and a few mobile homes or trailers ( 6.03%).

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 58.01% owning and 41.99% 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 ( 21.56%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.36%). There's also some housing in Mount Vernon built before 1939 ( 9.79%).

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 0.36% during the period.

Appreciation rates are so strong in Mount Vernon that despite a nationwide downturn in the housing market, Mount Vernon real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mount Vernon appreciation rates continue to be some of the highest in America, at 13.37%, which is higher than appreciation rates in 97.71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mount Vernon. Mount Vernon appreciation rates in the latest quarter were at 3.36%, which equates to an annual appreciation rate of 14.12%.

Importantly, NeighborhoodScout’s exclusive research found that Mount Vernon's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which 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 higher than 80% 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:
$290,126

Mount Vernon, WA HOME PRICES

Value Range
> $1,382,752 0.0
$1,037,193 - $1,382,752 0.6
$691,632 - $1,037,192 2.4
$553,095 - $691,631 4.0
$414,842 - $553,094 10.1
$276,548 - $414,841 35.9
$138,460 - $276,547 32.6
$68,866 - $138,459 3.3
$0 - $68,865 11.1

Average for WA
Very High for Nation

Value Relative to Nation Value Relative to State
19.170802919708 49.1166077738516

Number Of Homes And Apartments:
11,512

Mount Vernon Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2017 Q4 - 2018 Q1
Last 12 Months:
2017 Q1 - 2018 Q1
Last 2 Years:
2016 Q1 - 2018 Q1
Last 5 Years:
2013 Q1 - 2018 Q1
Last 10 Years:
2008 Q1 - 2018 Q1
Since 2000:
2000 Q1 - 2018 Q1
74.78% 3.11%
4
8
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$1,186 / per month

Homeownership Rate

Homeownership
Owners 58.01
Renters 41.99
Vacant 7.38

Housing Market Details

 

Age of Homes

AGE OF Mount Vernon HOMES
2000 or Newer 21.6
1970 - 1999 52.3
1940 - 1969 16.4
1939 or Older 9.8

Types of Homes

TYPE OF Mount Vernon HOMES
Single-Family 59.0
Townhomes 2.9
Small Apt. Buildings 9.0
Apt. Complexes 22.8
Mobile Homes 6.0
Other 0.2

Home Size

SIZE OF Mount Vernon HOMES
No Bedroom 4.62
1 Bedroom 10.46
2 Bedrooms 27.94
3 Bedrooms 42.47
4 Bedrooms 11.46
5 or more bedrooms 3.05