Mount Vernon-Anacortes, WA
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
expensive
Price to income
5.69×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Washington
- 5.13×
- vs U.S.
- 3.43×
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
24.1%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Washington
- 24.7%-0.6
- vs U.S.
- 23.3%
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
tight
Cap rate proxy
2.76%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Washington
- 3.13%
- vs U.S.
- 4.35%
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.42%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Washington
- 0.25%+0.17
- vs U.S.
- 0.03%+0.39
Benchmark
IRS net migration ÷ population
normal
Permit pipeline
2.77
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Washington
- 4.97
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
softening
Unemployment
5.5%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Washington
- 5.5%=
- vs U.S.
- 3.9%
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+51.4%
homeValues.yearOverYear
+3.6%
Median home value
$486,200
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $1,311 | $15,732 | 18.4% |
| 2 BR | $1,720 | $20,640 | 24.1% |
| 3 BR | $2,392 | $28,704 | 33.6% |
Labor market direction
Unemployment
5.5%
Median household income
$85,474
What's being built
Total TTM
359
Single-family
158
2–4 unit
19
5+ unit
182
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Skagit County | 129,480 | $486,200 | $85,474 | 359 |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Mount Vernon | 129,480 | $85,474 | 5.69× | 2.76% | +51.4% | 2.77 | 5.5% |
| Bismarck, ND | 133,467 | $83,982 | — | — | +33.8% | — | 2.5% |
| Wenatchee, WA | 122,265 | $79,007 | — | — | +46.9% | — | 5.6% |
| Winchester, VA-WV | 143,385 | $82,413 | — | — | +52.9% | — | 3.0% |
| Glens Falls, NY | 126,994 | $74,953 | — | — | +53.8% | — | 3.9% |
| California-Lexington Park, MD | 113,814 | $90,438 | — | — | — | — | — |
Where people are moving in from
Net migration
+540
+0.42% of population
| Origin county | Tax returns |
|---|---|
| Snohomish County, WA | 860 |
| Whatcom County, WA | 564 |
| King County, WA | 492 |
| Island County, WA | 268 |
| Pierce County, WA | 69 |
| Maricopa County, AZ | 51 |
Who lives in Mount Vernon
- Median age
- 42
- Bachelor's+
- 29.1%
- Owner-occupancy
- 70.6%
- Vacancy rate
- 8.8%
- Rent burdened (30%+)
- 48.8%
- Median household income
- $85,474
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.