Mount Vernon, IN—47620
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mount Vernon, IN
As of Oct '25, the median home price in Mount Vernon, IN is $219,000, with a year-over-year change of 6.9%. This indicates that home prices in Mount Vernon, IN are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $219,000 | 6.9% |
| Single Family | $219,000 | 6.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $77,000 | 5.5% |
2 Bed | $138,000 | 7.8% |
3 Bed | $227,000 | 6.1% |
4 Bed | $295,000 | 6.1% |
| 5 Bed | $333,000 | 5.0% |
% of Housing Stock
Rental Trends — Mount Vernon, IN
As of July '25, Rentcast reports the average rent in Mount Vernon, IN is $769, with a year-over-year rent change of 12.9%. Per bedroom, the median rent as of July '25 in Mount Vernon, IN is 1-bedrooms: $541, 2-bedrooms: $1,150, 4-bedrooms: $1,300. The most common rental property sizes in Mount Vernon, IN are 1-bedroom and 3-bedroom, accounting for 35.2% and 34.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $565 | $769 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $565 | $541 |
| 2 Bed Rent | $1,150 | $1,150 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $1,300 | $1,300 |
% of Rental Stock
Property Listings — Mount Vernon, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Mount Vernon, IN is 34. This is a increase of 18.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $250,000 | 6.0% |
Listing Count | 54 | 88.0% |
| Listings as % of Homes | 0.2% | 88.0% |
Days on Market | 34 | 18.0% |
Demographics — Mount Vernon, IN
As of the latest ACS Survey released in 2023, Mount Vernon, IN has a population of 12,500, which has decreased by -4.5% over the past 5 years. Mount Vernon, IN is a moderately popular place for families, as children make up 21.6% of the population. The area has a poorly educated workforce, with 22.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,500 | -4.5% |
% Under 18 | 21.6% | 0.9% |
% Seniors | 21.6% | 31.7% |
% WFH | 4.3% | 95.5% |
% w/ College Degree | 22.3% | 5.7% |
As of the latest ACS Survey released in 2023, Mount Vernon, IN is a predominantly white area, with 93.7% of the population identifying as white. The white population has shrunk by 1.0% in the last 5 years. The second most common race or ethnicity in Mount Vernon, IN is hispanic, making up 2.4% of the population. Foreign-born residents account for 1.2% of the population in Mount Vernon, IN, and this percentage has decreased by 7.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 93.7% | -1.0% |
% Black | 0.8% | -75.0% |
% Hispanic | 2.4% | 50.0% |
% Asian | 0.3% | -25.0% |
% Foreign Born | 1.2% | -7.7% |
Mortgage and Risk — Mount Vernon, IN
According to HUD data as of 2023, there were 340 mortgage originations in Mount Vernon, IN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Mount Vernon, IN. Investor activity is low, as 3.0% of loans were by investors. 24.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 340 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 24.0% |
Loan Activity
Rentals and Section 8 — Mount Vernon, IN
Mount Vernon, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 384 |
Total Units Section 8 | 301 |
% Rentals under Section 8 | 23.9% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $205 | $565 | $770 |
| 2 Bedroom | -$180 | $1,150 | $970 |
| 3 Bedroom | N/A | N/A | $1,230 |
| 4 Bedroom | $110 | $1,300 | $1,410 |
Affordability — Mount Vernon, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $219,000 |
| Median Household Income | $74,900 |