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Mount Vernon, WA Real Estate Market

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 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (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, WA Housing Market Trends

With 35,219 people, 12,679 houses or apartments, and a median cost of homes of $427,519, 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 65.24% of the city's housing units. Other types of housing that are prevalent in Mount Vernon include large apartment complexes or high rise apartments ( 17.36%), duplexes, homes converted to apartments or other small apartment buildings ( 8.95%), and a few mobile homes or trailers ( 5.10%).

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 60.92% owning and 39.08% 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 ( 28.60%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.84%). There's also some housing in Mount Vernon built before 1939 ( 8.22%).

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 131.89% over the last ten years, which is an average annual home appreciation rate of 8.77%, 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.

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 21.42%, which is higher than appreciation rates in 84.75% 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 3.01%, which equates to an annual appreciation rate of 12.59%.

Relative to Washington, our data show that Mount Vernon's latest annual appreciation rate is higher than 60% 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:
$427,519

Mount Vernon, WA HOME PRICES

> $1,534,000
$1,150,001 - $1,534,000
$767,001 - $1,150,000
$614,001 - $767,000
$460,001 - $614,000
$307,001 - $460,000
$153,001 - $307,000
$76,001 - $153,000
$0 - $76,000
0.2%
0.2%
0.5%
0.5%
7.0%
7.0%
12.1%
12.1%
29.2%
29.2%
32.2%
32.2%
12.4%
12.4%
3.3%
3.3%
3.1%
3.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for WA

Value Relative To Nation

Number Of Homes And Apartments:
12,679

Mount Vernon Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2021 Q4 - 2022 Q1
Last 12 Months:
2021 Q1 - 2022 Q1
Last 2 Years:
2020 Q1 - 2022 Q1
Last 5 Years:
2017 Q1 - 2022 Q1
Last 10 Years:
2012 Q1 - 2022 Q1
Since 2000:
2000 Q1 - 2022 Q1
180.29% 4.74%
4
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,996 / per month

Homeownership Rate

Owners
Renters
Vacant
60.9%
60.9%
39.1%
39.1%
3.4%
3.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
28.6%
28.6%
46.3%
46.3%
16.8%
16.8%
8.2%
8.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
65.2%
65.2%
3.3%
3.3%
8.9%
8.9%
17.4%
17.4%
5.1%
5.1%
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.8%
2.8%
9.5%
9.5%
26.3%
26.3%
44.5%
44.5%
14.0%
14.0%
2.9%
2.9%
0.0% 100.0%
% OF HOMES