Mount Vernon, IL 62864 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Mount Vernon, IL—62864

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$120,000

4.6% YoY Growth

Household Income

$58,100

31.6% YoY Growth

Days on Market

43.0% Longer YoY

Home Price Forecast

1.0%

Median Rent

$971

140.7% YoY Growth

1-Bed Rent

$919

N/A

2-Bed Rent

$736

59.8% YoY Growth

3-Bed Rent

N/A

Home Price Trends — Mount Vernon, IL

As of Dec '25, the median home price in Mount Vernon, IL is $120,000, with a year-over-year change of 4.6%. This indicates that home prices in Mount Vernon, IL are increasing. According to Zillow, the 1-year price projection is 1.0%, 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	4.6%
Single Family	$120,000	4.3%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

4.5%

1 Bedroom

16.9%

2 Bedrooms

48.0%

3 Bedrooms

24.1%

4 Bedrooms

6.3%

5+ Bedrooms

0.2%

Property Listings — Mount Vernon, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Mount Vernon, IL is 87. This is a increase of 22.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$229,000	23.0%
Listing Count	89	43.0%
Listings as % of Homes	0.5%	43.0%
Days on Market	77	43.0%

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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%

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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%

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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%

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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

Mount Vernon, IL—62864

Key Metrics at a Glance

Home Price Trends — Mount Vernon, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Mount Vernon, IL

% of Rental Stock

Property Listings — Mount Vernon, IL

Demographics — Mount Vernon, IL

Race and Ethnicity

Mortgage and Risk — Mount Vernon, IL

Mortgages

Rentals and Section 8 — Mount Vernon, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Mount Vernon, IL

Home Price to Income Ratio

Mount Vernon, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Opdyke, IL

Dix, IL

Divide, IL

Bonnie, IL

Roaches, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	1.9
Median Home Price	$120,000
Median Household Income	$58,100

Mount Vernon, IL—62864

Key Metrics at a Glance

Home Price Trends — Mount Vernon, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Mount Vernon, IL

% of Rental Stock

Property Listings — Mount Vernon, IL

Demographics — Mount Vernon, IL

Race and Ethnicity

Mortgage and Risk — Mount Vernon, IL

Mortgages

Rentals and Section 8 — Mount Vernon, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Mount Vernon, IL

Home Price to Income Ratio

Mount Vernon, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Opdyke, IL

Dix, IL

Divide, IL

Bonnie, IL

Roaches, IL

Frequently Asked Questions

What is the average home price in Mount Vernon, IL 62864?

How have home prices in Mount Vernon, IL 62864 changed over the past year?

What is the home price projection for Mount Vernon, IL 62864?

What are the demographics of Mount Vernon, IL 62864?

How long does it take homes to sell in Mount Vernon, IL 62864?

What is the average rent price in Mount Vernon, IL 62864?