Mount Vernon, IL—62864
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mount Vernon, IL
As of Oct '25, the median home price in Mount Vernon, IL is $120,000, with a year-over-year change of 3.9%. This indicates that home prices in Mount Vernon, IL are increasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $120,000 | 3.9% |
| Single Family | $120,000 | 5.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Mount Vernon, IL
As of July '25, Rentcast reports the average rent in Mount Vernon, IL is $1,300, with a year-over-year rent change of 140.7%. Per bedroom, the median rent as of July '25 in Mount Vernon, IL is 1-bedrooms: $945, 2-bedrooms: $943. The most common rental property sizes in Mount Vernon, IL are 2-bedroom and 3-bedroom, accounting for 48.0% and 24.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $971 | $1,300 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $919 | $945 |
| 2 Bed Rent | $736 | $943 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Mount Vernon, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Mount Vernon, IL is 76. This is a increase of 12.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $227,000 | 22.0% |
Listing Count | 79 | 19.0% |
| Listings as % of Homes | 0.5% | 19.0% |
Days on Market | 76 | 12.0% |
Demographics — Mount Vernon, IL
As of the latest ACS Survey released in 2023, Mount Vernon, IL has a population of 23,100, which has decreased by -2.2% over the past 5 years. Mount Vernon, IL is a moderately popular place for families, as children make up 22.5% of the population. The area has a poorly educated workforce, with 21.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,100 | -2.2% |
% Under 18 | 22.5% | 0.4% |
% Seniors | 20.9% | 4.0% |
% WFH | 4.0% | 21.2% |
% w/ College Degree | 21.1% | 2.9% |
As of the latest ACS Survey released in 2023, Mount Vernon, IL is a predominantly white area, with 82.5% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in Mount Vernon, IL is black, making up 8.2% of the population. Foreign-born residents account for 2.4% of the population in Mount Vernon, IL, and this percentage has increased by 20.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 82.5% | -1.3% |
% Black | 8.2% | -16.3% |
% Hispanic | 3.1% | 29.2% |
% Asian | 1.4% | -17.6% |
% Foreign Born | 2.4% | 20.0% |
Mortgage and Risk — Mount Vernon, IL
According to HUD data as of 2023, there were 277 mortgage originations in Mount Vernon, IL, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Mount Vernon, IL. Investor activity is low, as 2.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 277 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Mount Vernon, IL
Mount Vernon, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 639 |
Total Units Section 8 | 390 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 81.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$149 | $919 | $770 |
| 2 Bedroom | $274 | $736 | $1,010 |
| 3 Bedroom | N/A | N/A | $1,230 |
| 4 Bedroom | N/A | N/A | $1,390 |
Affordability — Mount Vernon, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.9 |
| Median Home Price | $120,000 |
| Median Household Income | $58,100 |