Mount Vernon, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Mount Vernon Neighborhoods Since 2000




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 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 34,053 people, 11,525 houses or apartments, and a median cost of homes of $273,527, 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 58.02% of the city's housing units. Other types of housing that are prevalent in Mount Vernon include large apartment complexes or high rise apartments ( 22.89%), duplexes, homes converted to apartments or other small apartment buildings ( 9.62%), and a few mobile homes or trailers ( 5.98%).

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 56.54% owning and 43.46% 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 ( 22.21%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.46%). There's also some housing in Mount Vernon built before 1939 ( 11.34%).

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 -0.84%, which is lower than 70% of US communities.

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 2.63%, 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 2.67%, which equates to an annual appreciation rate of 11.11%.

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:
$273,527

Mount Vernon, WA HOME PRICES

Value Range
> $1,237,000 0.1
$928,001 - $1,237,000 0.4
$619,001 - $928,000 2.0
$495,001 - $619,000 3.8
$371,001 - $495,000 9.9
$248,001 - $371,000 36.6
$124,001 - $248,000 33.0
$62,001 - $124,000 2.5
$0 - $62,000 11.7

Average for WA
Very High for Nation

Value Relative to Nation Value Relative to State
19.2780968006563 47.8723404255319

Number Of Homes And Apartments:
11,525

Mount Vernon Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
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
51.86% 2.45% 2 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,005 / per month

Homeownership Rate

Homeownership
Owners 56.54
Renters 43.46
Vacant 7.81

Housing Market Details

 

Age of Homes

AGE OF Mount Vernon HOMES
2000 or Newer 22.2
1970 - 1999 50.0
1940 - 1969 16.5
1939 or Older 11.3

Types of Homes

TYPE OF Mount Vernon HOMES
Single-Family 58.0
Townhomes 3.3
Small Apt. Buildings 9.6
Apt. Complexes 22.9
Mobile Homes 6.0
Other 0.2

Home Size

SIZE OF Mount Vernon HOMES
No Bedroom 3.35
1 Bedroom 11.34
2 Bedrooms 29.02
3 Bedrooms 42.62
4 Bedrooms 10.27
5 or more bedrooms 3.39