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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 36,006 people, 12,396 houses or apartments, and a median cost of homes of $373,028, 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 65.09% of the city's housing units. Other types of housing that are prevalent in Mount Vernon include large apartment complexes or high rise apartments ( 18.17%), duplexes, homes converted to apartments or other small apartment buildings ( 9.07%), and a few mobile homes or trailers ( 4.97%).

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 61.42% owning and 38.58% 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 ( 24.20%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.00%). There's also some housing in Mount Vernon built before 1939 ( 8.80%).

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 63.82% over the last ten years, which is an average annual home appreciation rate of 5.06%, 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.

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 6.43%, which is higher than appreciation rates in 72.71% 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 1.52%, which equates to an annual appreciation rate of 6.22%.

Notably, Mount Vernon's appreciation rate in the latest quarter is one of the lowest in America.

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:
$373,028

Mount Vernon, WA HOME PRICES

> $1,305,000
0.1%
0.1%
$978,001 - $1,305,000
0.3%
0.3%
$652,001 - $978,000
3.9%
3.9%
$522,001 - $652,000
10.6%
10.6%
$391,001 - $522,000
22.5%
22.5%
$261,001 - $391,000
33.6%
33.6%
$131,001 - $261,000
18.0%
18.0%
$65,001 - $131,000
3.9%
3.9%
$0 - $65,000
7.1%
7.1%
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:
12,396

Mount Vernon Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
120.93% 3.85%
4
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,562 / per month

Homeownership Rate

Owners
61.4%
61.4%
Renters
38.6%
38.6%
Vacant
4.6%
4.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
24.2%
24.2%
1970 - 1999
51.0%
51.0%
1940 - 1969
16.0%
16.0%
1939 or Older
8.8%
8.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
65.1%
65.1%
Townhomes
2.6%
2.6%
Small Apt. Buildings
9.1%
9.1%
Apt. Complexes
18.2%
18.2%
Mobile Homes
5.0%
5.0%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.2%
3.2%
1 Bedroom
10.1%
10.1%
2 Bedrooms
24.6%
24.6%
3 Bedrooms
46.3%
46.3%
4 Bedrooms
14.0%
14.0%
5 or more bedrooms
1.7%
1.7%
0.0% 100.0%
% OF HOMES