Department of Numbers

Mount Vernon Washington Residential Rent and Rental Statistics

The median monthly gross residential rent in Mount Vernon, WA (the Mount Vernon-Anacortes metro area) was $952 in 2015 according to the Census ACS survey.1 Average gross rent in Mount Vernon was $1,011 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Mount Vernon median and average rent data will be released in September of 2017.

Data is also available below for Mount Vernon rental vacancy rates, Mount Vernon rent as a percent of median income and the fraction of renters in Mount Vernon.

Show dollars as: Nominal Real

Real Gross Rent in Mount Vernon Washington (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Washington Median Gross Rent $1,080 +5.16% +12.85%
Mount Vernon, WA Median Gross Rent $952 +4.27% -0.21%

Mount Vernon, WA Real Gross Rent Trends

Median gross rent for Mount Vernon peaked in real terms in 2013 at $977 and is now $25 (2.56%) lower. From a recent low of 913.0 in 2014, real median gross rent has now increased by $39 (4.27%). Average gross rent for Mount Vernon peaked in real terms in 2008 at $1,061 and is now $50 (4.71%) lower. From a recent low of 880.0 in 2014, real average gross rent has now increased by $131 (14.89%).

Real Gross Rent in Mount Vernon: Mount Vernon WA Median, Mount Vernon WA Average, Washington Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Mount Vernon

Date US
Median
Washington
Median
Mount Vernon, WA
Median
Mount Vernon, WA
Average
2015 $959 $1,080 $952 $1,011
2014 $930 $1,027 $913 $880
2013 $898 $982 $977 $1,009
2012 $886 $957 $954 $964
2011 $887 $947 $949 $936
2010 $901 $956 $945 $991
2009 $905 $979 $937 $997
2008 $920 $976 $946 $1,061
2007 $874 $904 $946 $958
2006 $883 $902 $958 $918
2005 $858 $873 $953 $955

Mount Vernon Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Mount Vernon Washington was 1.93% according to Census ACS data.

Rental Vacancy Rate in Mount Vernon Washington

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Washington 3.27% -0.96% -2.03%
Mount Vernon, WA 1.93% +0.60% -7.39%

Trends in Mount Vernon, WA Rental Vacancy Rate

The rental vacancy rate in Mount Vernon peaked in 2012 at 9.32%. Since then it has fallen by 7.39% to 1.93%. Data records for this series originated in 2005. From a 2014 post peak low of 1.33%, the rental vacancy rate has increased by 0.60%.

Rental Vacancy Rate: Mount Vernon WA, Washington, US

Rental vacancy rate in Washington

Historical Rental Vacancy Rate data for Mount Vernon

Date US Washington Mount Vernon, WA
2015 5.85% 3.27% 1.93%
2014 6.32% 4.23% 1.33%
2013 6.49% 4.65% 2.63%
2012 6.77% 5.30% 9.32%
2011 7.40% 5.59% 8.49%
2010 8.17% 5.80% 5.52%
2009 8.43% 5.98% 5.12%
2008 7.86% 5.09% 2.60%
2007 7.87% 4.83% 4.57%
2006 7.70% 6.14% 4.73%
2005 7.74% 5.74% 5.77%

Rent as a Fraction of Income

Using median household income data for Mount Vernon, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Mount Vernon, median monthly gross rent as a fraction of median household income was 20.00% in 2015 according to the ACS.

Mount Vernon Washington Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Washington 20.21% +0.03% +0.32%
Mount Vernon, WA 20.00% -1.77% -1.37%

Trends in Mount Vernon, WA Rent as a Fraction of Income

The fraction of median Mount Vernon household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 22.51%. Since then it has fallen by 2.51% to 20.00%.

Fraction of Income towards Rent: Mount Vernon WA, Washington, US

Percent of median household income going towards median monthly gross rent in Mount Vernon Washington

Historical Data for Annual Rent as a Fraction of Income in Mount Vernon Washington

Date US Washington Mount Vernon, WA
2015 20.63% 20.21% 20.00%
2014 20.89% 20.18% 21.77%
2013 20.78% 20.32% 22.51%
2012 20.65% 19.88% 21.37%
2011 20.70% 19.64% 21.30%
2010 20.50% 19.59% 19.41%
2009 20.12% 19.33% 19.08%
2008 19.00% 18.06% 19.05%
2007 18.66% 17.61% 19.88%
2006 18.90% 17.78% 20.60%
2005 18.89% 18.05% 19.90%

Renter Fraction in Mount Vernon Washington

You can calculate the renter fraction in Mount Vernon in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Mount Vernon as a fraction of total Mount Vernon households. In 2015 33.58% of households were renters according to Census ACS data.

Mount Vernon Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Washington 37.58% -0.67% -0.09%
Mount Vernon, WA 33.58% -0.15% +1.58%

Trends in the Mount Vernon, WA Renter Fraction

The Mount Vernon household renter fraction peaked in in 2011 at 35.49% and is now 1.91% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Mount Vernon WA, Washington, US

Fraction of renters in Mount Vernon

History of Mount Vernon Renter Fraction

Date US Washington Mount Vernon, WA
2015 36.97% 37.58% 33.58%
2014 36.90% 38.25% 33.73%
2013 36.50% 38.06% 32.05%
2012 36.09% 37.67% 32.00%
2011 35.42% 37.18% 35.49%
2010 34.65% 36.90% 31.28%
2009 34.13% 35.70% 29.93%
2008 33.36% 34.72% 29.11%
2007 32.80% 33.93% 28.29%
2006 32.73% 34.46% 30.94%
2005 33.10% 35.34% 33.68%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.