Real Estate Investing in Mount Vernon, Washington (98273)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98273 (Mount Vernon, WA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Mount Vernon, WA (98273)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98273 Mount Vernon
Put differently, ZIP 98273 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $572K median. It rewards specialists, not generalists.
The 98273 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Within WA, ZIP 98273 trails on several market indicators that neighboring Skagit County submarkets outperform. The gap is real and robust enough to shape underwriting.
Who lives in 98273 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategically, 98273 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Mount Vernon:
Property Strategy for 98273
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $369,221 | $1,170 | 2.3% | +5.4% | $369,221 |
| 2BR | $435,093 | $1,540 | 2.5% | +5.6% | $217,547 |
| 3BR | $558,157 | $2,150 | 2.8% | +7.0% | $186,052 |
| 4BR | $626,953 | $2,340 | 2.7% | +6.8% | $156,738 |
| 5BR | $709,452 | — | — | +6.7% | $141,890 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98273 Compare?
| Metric | 98273 | Mount Vernon | Mount Vernon-Anacortes, WA | Washington |
|---|---|---|---|---|
| Home Value | $571,798 | $600,358 | N/A | $591,536 |
| 5-Year CAGR | 3.9% | 3.8% | N/A | 5.9% |
| Avg Rent | $2,035 | $2,350 | N/A | - |
| Cap Rate | 2.8% | 3.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98273 (Mount Vernon, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $571,798 |
| Monthly Rent | $2,035 |
| Price-to-Rent | 23.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 6.6% |
📈 Home Appreciation
| 1-Year | +3.4% ▲ |
| 3-Year CAGR | +3.4% ▲ |
| 5-Year CAGR | +3.9% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 Rent Trends
| 1-Year | +6.3% ▲ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 98273
Population: 30,078
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 98273
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,983 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Which investment style suits Mount Vernon, WA?
Most investors in Mount Vernon, WA run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Is the tenant base reliable in Mount Vernon, WA?
Mount Vernon, WA offers a consistent renter base at the $2,035/mo rent level. Tenant turnover is reasonable for well-managed properties.
How quickly do rentals get leased in Mount Vernon, WA?
Vacancy in Mount Vernon, WA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $2,035/mo.
Is house hacking profitable in Mount Vernon, WA?
For house hackers, Mount Vernon, WA is a challenging. The $2,035/mo rent on a unit helps defray the mortgage on a $572K property.
What is the average monthly rent in Mount Vernon, WA?
The typical rental in Mount Vernon, WA commands about $2,035/mo monthly. That rent profile stable cash flow against the $572K purchase basis.
You know 98273 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98273 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 98273 ranks in Mount Vernon-Anacortes, WA
Every ZIP in this metro, ranked. Free.
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