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 $1,084 in 2019 according to the Census ACS survey.1 Average gross rent in Mount Vernon was $1,044 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Mount Vernon median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Mount Vernon Washington (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Washington Median Gross Rent | $1,359 | +1.42% | +14.39% |
| Mount Vernon, WA Median Gross Rent | $1,084 | -3.82% | +4.94% |
Mount Vernon, WA Real Gross Rent Trends
Median gross rent for Mount Vernon peaked in real terms in 2017 at $1,143 and is now $59 (5.16%) lower. Average gross rent for Mount Vernon peaked in real terms in 2017 at $1,142 and is now $98 (8.58%) lower.
Real Gross Rent in Mount Vernon: Mount Vernon WA Median, Mount Vernon WA Average, Washington Median, US Median
Real Gross Rent History for Mount Vernon
| Date | US Median |
Washington Median |
Mount Vernon, WA Median |
Mount Vernon, WA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,359 | $1,084 | $1,044 |
| 2018 | $1,077 | $1,340 | $1,127 | $1,130 |
| 2017 | $1,043 | $1,254 | $1,143 | $1,142 |
| 2016 | $1,027 | $1,188 | $1,033 | $1,071 |
| 2015 | $1,017 | $1,146 | $1,010 | $1,072 |
| 2014 | $986 | $1,090 | $968 | $933 |
| 2013 | $953 | $1,041 | $1,036 | $1,070 |
| 2012 | $940 | $1,015 | $1,012 | $1,022 |
| 2011 | $941 | $1,004 | $1,007 | $993 |
| 2010 | $955 | $1,015 | $1,002 | $1,052 |
| 2009 | $960 | $1,038 | $994 | $1,058 |
| 2007 | $927 | $959 | $1,003 | $1,016 |
| 2005 | $910 | $926 | $1,011 | $1,013 |
Mount Vernon Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Mount Vernon Washington was 0.87% according to Census ACS data.
Rental Vacancy Rate in Mount Vernon Washington
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Washington | 4.31% | +0.37% | +1.08% |
| Mount Vernon, WA | — | — | — |
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 8.45% to 0.87%. Data records for this series originated in 2005.
Rental Vacancy Rate: Mount Vernon WA, Washington, US
Historical Rental Vacancy Rate data for Mount Vernon
| Date | US | Washington | Mount Vernon, WA |
|---|---|---|---|
| 2019 | 5.97% | 4.31% | — |
| 2018 | 6.15% | 3.94% | 0.87% |
| 2017 | 6.18% | 3.68% | 1.72% |
| 2016 | 5.89% | 3.23% | 5.62% |
| 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% |
| 2007 | 7.87% | 4.83% | 4.57% |
| 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 19.36% in 2019 according to the ACS.
Mount Vernon Washington Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Washington | 20.73% | -0.59% | +0.43% |
| Mount Vernon, WA | 19.36% | +1.22% | -0.06% |
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 3.15% to 19.36%. From a 2018 low of 18.15%, the fraction of income going to rent has increased by 1.22%.
Fraction of Income towards Rent: Mount Vernon WA, Washington, US
Historical Data for Annual Rent as a Fraction of Income in Mount Vernon Washington
| Date | US | Washington | Mount Vernon, WA |
|---|---|---|---|
| 2019 | 20.03% | 20.73% | 19.36% |
| 2018 | 20.50% | 21.32% | 18.15% |
| 2017 | 20.13% | 20.56% | 20.14% |
| 2016 | 20.43% | 20.30% | 19.42% |
| 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% |
| 2007 | 18.66% | 17.61% | 19.88% |
| 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 2019 30.13% of households were renters according to Census ACS data.
Mount Vernon Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Washington | 36.92% | -0.26% | -0.61% |
| Mount Vernon, WA | 30.13% | -0.79% | -1.75% |
Trends in the Mount Vernon, WA Renter Fraction
The Mount Vernon household renter fraction peaked in in 2011 at 35.49% and is now 5.36% below that level. From a recent low of 28.19% in 2017, the household based renter fraction has now grown by 1.94%. The origin year for the series is 2005.
Fraction of Renting Households: Mount Vernon WA, Washington, US
History of Mount Vernon Renter Fraction
| Date | US | Washington | Mount Vernon, WA |
|---|---|---|---|
| 2019 | 35.89% | 36.92% | 30.13% |
| 2018 | 36.05% | 37.18% | 30.92% |
| 2017 | 36.13% | 37.21% | 28.19% |
| 2016 | 36.88% | 37.53% | 31.88% |
| 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% |
| 2007 | 32.80% | 33.93% | 28.29% |
| 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. ↩
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