The typical owner-occupied home in Mount Vernon is worth about $836,200, 2.2 times the Virginia median of $383,700 and 2.5 times the national median of $332,700. Owners pay a median $8,292 a year in property taxes, about 0.99% of their home's value, higher than the Virginia rate of 0.73%. The median household earns $163,750 a year, so the median home costs 5.1 times the median income (4.1 times for Virginia). 73% of occupied homes here are lived in by their owners, and 72% of those owners still have a mortgage.
Mount Vernon at a glance
| Mount Vernon | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $836,200 | $383,700 | $332,700 |
| Median property tax paid per year | $8,292 | $2,790 | $3,119 |
| Property tax as a share of value | 0.99% | 0.73% | 0.94% |
| Median household income | $163,750 | $93,170 | $80,734 |
| Homes lived in by their owners | 73% | 67% | 65% |
| Owner homes with a mortgage | 72% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $3,661 | $2,127 | $1,963 |
| Those costs as a share of the owners' income | 21.3% | 20.1% | 21.0% |
| Median rent | $1,620 | $1,579 | $1,413 |
| Rent as a share of renters' income | 38.8% | 29.4% | 30.6% |
| Median year homes were built | 1968 | 1984 | 1980 |
| Vacant homes | 2.5% | 8.7% | 10.1% |
| Population | 13,122 | 8,705,170 | 334,922,499 |
What a typical home costs per month in Mount Vernon
At this week's average 30-year rate of 7.11%, buying the median Mount Vernon home of $836,200 with 20% down costs about $5,538 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,066, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $237,361 for the 20%-down payment. That payment is 41% of the median Mount Vernon household income of $163,750; at that income and 20% down, the 28% guideline points to a home of about $577,000.
The median rent here is $1,620 a month, so owning the median home costs about $3,918 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $167,240 |
|---|---|
| Loan amount | $668,960 |
| Principal and interest | $4,500 |
| Property taxes (0.99% a year) | $690 |
| Homeowners insurance (our estimate, 0.5% a year) | $348 |
| PMI | $0 |
| Total per month | $5,538 |
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| Down payment | $29,267 |
|---|---|
| Loan amount | $821,054 |
| Principal and interest | $5,523 |
| Property taxes (0.99% a year) | $690 |
| Homeowners insurance (our estimate, 0.5% a year) | $348 |
| FHA mortgage insurance | $504 |
| Total per month | $7,066 |
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Questions about home buying in Mount Vernon
What is the median home value in Mount Vernon?
About $836,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mount Vernon?
Homeowners pay a median $8,292 a year, which is about 0.99% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Mount Vernon?
For the median home with 20% down at 7.11%, the payment is about $5,538 a month. Keeping that under 28% of gross income takes about $237,361 a year.
More about Mount Vernon
- Mortgage Refinance in Mount Vernon
- Debt Relief in Mount Vernon
- Home Equity Loans in Mount Vernon
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data