Mount Vernon, IL Housing Market
Cold MarketMetro-level monthly sale metrics for rental investors — prices, inventory, pace, and negotiation signals. Figures represent the Mount Vernon, IL metro area.
Data period: May 2026
Market snapshot
- Median sale price
- $165K
- Median days on market
- 57 days
- Months of supply
- 4.3
- Active inventory
- 91
- Homes sold
- 21
- Sale-to-list ratio
- 93.6%
- Listings with price drop
- 31.9%
- Data month
- May 2026
Pair this view with the rental property calculator, DSCR calculator, and cap rate calculator — or browse all calculators.
Rental Investor Snapshot
Labels below come from monthly sale-market indicators only. True cash flow requires local rent, taxes, insurance, vacancy, and expense assumptions — model those in the rental calculator, then sanity-check against sale-speed signals here.
- Market temperature
- Cooling
- Buyer leverage
- High
- Pricing signal vs. U.S. median
- Easier buy-in vs. U.S. median (price only)
- Investor fit (heuristic)
- Buy-in vs. U.S. · Negotiation
Watch-outs
- Slower sales (longer days on market) can mean more time to diligence — but also weaker demand.
- Elevated price cuts can signal negotiation room — verify condition, rents, and comps street-by-street.
Suggested next step: Run a rental property analysis with your own rent, financing, vacancy, and expense assumptions — then sanity-check against this market's sale-speed and negotiation signals.
Cold Market
Inventory is high and homes are sitting longer — a buyer's market.
Mount Vernon, IL market summary
The Mount Vernon, IL metro area housing market is cooling down. As of May 2026, the median home sale price is $165K, up 10.0% year-over-year. Homes are spending a median of 57 days on the market, 11.8% longer than a year ago.
There are 91 homes for sale — 13.8% more than last year. With 4.3 months of supply, this is a balanced market. 25 new listings were added during this period, down 3.8% year-over-year.
Homes are selling for 93.6% of their list price on average, suggesting room for negotiation. 38.1% of homes sell above their asking price. 31.9% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
86
Contributing Factors
How This Market Compares
vs. National Median
vs. Illinois Median
Investor takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. A significant share of sellers are cutting prices, which can signal motivated sellers and potential deals. Prices are 63% below the national median on this sale snapshot — that can mean lower buy-in, but cash flow still depends on local rent, financing, and expenses.
Mount Vernon, IL market trends
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Detailed market metrics
Median list price
$161K
Price per sq ft
$107
Sale-to-list ratio
93.6%
Months of supply
4.3
Sold above list
38.1%
Price drops
31.9%
New listings
25
↓ 3.8% YoY
Pending sales
34
Off market in 2 weeks
26.5%
Mount Vernon, IL housing market FAQs
What is the median home price in Mount Vernon, IL?
For the latest published month, the median sale price in Mount Vernon, IL is $165K. Median means half of homes sold above that price and half below — it is a useful benchmark, not a rule for every listing.
Is Mount Vernon, IL a buyer's or seller's market?
With about 4.3 months of supply, the market is often closer to balanced — neither extreme scarcity nor extreme surplus.
How long do homes stay on the market in Mount Vernon, IL?
For the latest published month, the median days on market in Mount Vernon, IL is 57 days — half of homes went pending faster and half slower.
Is Mount Vernon, IL good for rental property investors?
Sale-market stats show how competitive buying is (speed, negotiation, inventory). They do not prove rent performance. Mount Vernon, IL can still work for rentals if the numbers work on a deal-by-deal basis — use local rent comps, financing, vacancy, and expenses in the rental property calculator.
How should investors analyze a rental property in Mount Vernon, IL?
Start with purchase price, financing, rent, vacancy, operating expenses, and capital repairs. Stress-test rates and rent. Will It Flow’s rental property calculator is built to translate those inputs into cash flow, DSCR, cap rate, and cash-on-cash return for Mount Vernon, IL deals.
Compare more Illinois metro markets
Explore nearby sale-market pace and pricing, then run a shortlist through the rental property calculator.
Chicago, IL
$398K · 46d on market
Lake County, IL
$425K · 44d on market
Elgin, IL
$395K · 49d on market
Peoria, IL
$183K · 18d on market
Rockford, IL
$230K · 11d on market
Springfield, IL
$210K · 7d on market
Champaign, IL
$235K · 46d on market
Bloomington, IL
$279K · 43d on market
National context
Step up to the U.S. housing market hub for national trends, then browse top metro markets by sales activity.
Underwrite a Mount Vernon, IL deal with real numbers
Use Will It Flow for cash flow, DSCR, cap rate, and cash-on-cash return — free and fast.
Housing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.