Mount Vernon, IL Housing Market
AI-powered market intelligence for the Mount Vernon, IL metro area.
PropertyIQ Scores
Mount Vernon, IL Market Analysis
Market Overview
Mount Vernon, IL presents as a strong housing market, anchored by a PropertyIQ Score of 97 out of 100. The score is driven primarily by home value momentum of 13.62% over 12 months and 4.32% over 3 months, a median days on market of 68 days, and a relatively modest share of listings with a price cut at 15.4%. These indicators point to steady buyer demand and favorable conditions for sellers, even though the local price point is far below the Illinois state average.
The median home value in Mount Vernon is $148,119, compared with a state average of $299,900. The rent index is $918, versus $1,227 statewide. Median household income is $61,102, below the state average of $81,702, while the unemployment rate is 5.1%, matching the state average. This creates a market that is more affordable in absolute terms and relative to local incomes: the median home value is roughly 2.4 times median household income, compared with about 3.7 times at the state level. The data does not include a population growth figure, so demographic expansion cannot be assessed.
Key Trends
First, home values are rising at a meaningful pace. The 12-month home value momentum of 13.62% is the top score driver, and the 3-month momentum of 4.32% indicates that recent price movement remains strong. The dataset also reports a year-over-year home value change of $31, but the percentage momentum metrics suggest broader price appreciation than that dollar figure alone would imply.
Second, market conditions appear competitive but not overheated. There are 82 homes for sale, and the median days on market is 68 days. A 15.4% share of listings with a price cut indicates that most sellers are not reducing asking prices, which supports the strong momentum score. At 68 days, homes are selling faster than in many slower markets, though this is not an ultra-tight timeframe.
Third, Mount Vernon offers a clear affordability advantage over the state. The median home value of $148,119 is about 49% below the state average of $299,900. The rent index of $918 is also well below the state average of $1,227. While the median household income of $61,102 is lower than the state’s $81,702, the home price-to-income ratio remains more favorable locally. This means housing costs take up less of local paychecks than the statewide relationship would suggest.
Fourth, the rental market is lower-cost but may still be relevant for investors. The rent index of $918 is about 75% of the state average, and the median home value is less than half the state average. The resulting price-to-rent relationship is more favorable at the local level than statewide, although rental income will be lower in absolute dollars. Unemployment at 5.1% matches the state average, suggesting labor market stability.
Who Is This Market For
Mount Vernon is well suited to first-time buyers because the median home value of $148,119 and median household income of $61,102 make purchase costs more manageable than in many parts of Illinois. Down payments and monthly mortgage costs should be more attainable relative to local incomes, especially when compared with the state’s median home value of $299,900. The stable unemployment rate of 5.1% also supports workforce housing demand.
For investors, the local rent index of $918 is lower than the state average, but the relationship between purchase price and rental income is more favorable. The price-to-rent ratio is roughly 13.4 locally, compared with about 20.4 statewide, meaning the cost to acquire a rental property relative to its income potential is lower. The 15.4% share of listings with a price cut and 68-day median time on market suggest sellers are not under heavy pressure, but the 82 homes for sale still provide some selection for buyers and investors. Move-up buyers and sellers may also benefit from the strong PropertyIQ Score and home value momentum, although the lower median household income may eventually limit how far prices can stretch.
Outlook
The near-term outlook for Mount Vernon remains positive based on the provided data. The 12-month home value momentum of 13.62% and 3-month growth of 4.32% indicate continued appreciation pressure. A median days on market of 68 days and a price cut share of 15.4% suggest demand is absorbing listings without widespread discounting. With 82 homes for sale, inventory is limited enough to support seller positioning, but the market’s lower median household income of $61,102 and rent index of $918 may temper how much further affordability can erode before demand cools. The unemployment rate of 5.1% matching the state average provides stability, but the lack of population growth data means there is no confirmed demographic tailwind. Overall, the data supports a strong but affordability-sensitive market.
AI-generated analysis based on current market data. Last updated September 6, 2026.
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Mount Vernon, IL market data
Mount Vernon, IL Housing Market Overview
Mount Vernon, IL's median home value is $148K, up 13.6% over the past year. Homes here sell in a median 68 days. Its PropertyIQ Score of 97 sits well above the state average of 50, marking a market positioned to outperform its state over the next three years.
Whether you're considering buying a home, investing in rental property, or weighing entry timing in the Mount Vernon, IL area, the PropertyIQ Score gives you a single, data-first read on relative market strength. It is validated against actual market outcomes from 2001 to 2023, with a positive score-to-return relationship in every validated year across IL and every other US state.
Midwestern housing markets are characterized by affordability and economic diversification. From manufacturing hubs undergoing tech-sector transitions to university towns with stable demand, the region offers value-oriented opportunities with lower entry costs than coastal markets. Within the Midwest, Mount Vernon, IL's PropertyIQ Score of 97 ranks among the Midwest's stronger demand signals.
Each month, PropertyIQ updates its score for Mount Vernon, IL using four inputs: Zillow ZHVI twelve-month and three-month momentum, Realtor.com median days on market, and the Realtor.com share of listings with price cuts. These four signals are combined into a single 1 to 99 score computed across all metro markets and calibrated so 50 represents the state average, making it a direct read of how this market is positioned to perform relative to its state. Momentum here has been positive, with home values up 13.6% over the past year.
View Mount Vernon, IL's complete market profile including historical price trends, score history, and AI-generated analysis. Compare this market against any other US metro to find the best opportunities for your investment strategy.
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Market data through July 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Mount Vernon, IL a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Mount Vernon, IL currently scores 97, a very strong-momentum reading that leaves it positioned to outperform its state over the next three years. For buyers, strengthening demand usually means rising competition and firmer prices, so waiting can cost you negotiating room. Backing that up, the median home value here is $148K, up 13.6% over the past year. So whether Mount Vernon, IL is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Mount Vernon, IL?
Mount Vernon, IL's PropertyIQ Score is 97, indicating very strong momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 97 places Mount Vernon, IL above its state benchmark.
Are home prices in Mount Vernon, IL rising or falling?
Home prices in Mount Vernon, IL are rising. Over the past year, the median home value increased 13.6%, reaching $148K. Over the latest three months, values moved up 4.3%, a sign near-term demand remains firm. PropertyIQ derives these figures from Zillow's home-value index, which tracks the typical value across the market rather than only the homes that happened to sell, giving a steadier read than a raw median sale price. Both the 12-month and 3-month momentum readings feed directly into the PropertyIQ Score, so this price trend is one of the core signals behind Mount Vernon, IL's current score. Keep in mind that appreciation can vary widely by neighborhood and price tier across the metro area, so treat these figures as the market-wide baseline rather than a guarantee for any single property.
How quickly do homes sell in Mount Vernon, IL?
In Mount Vernon, IL, homes sell in a median of 68 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 15% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Mount Vernon, IL market data is refreshed on a monthly cycle, with the latest figures current through July 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.