10550, Mount Vernon, NY

Mount Vernon, New York is a small town located in the Southern Tier region of upstate New York. The 10550 zip code covers the entirety of Mount Vernon and has a population of just over 10,000 people. Home prices in this zip code have been on the rise for the past few years, with median home prices reaching $194,500 as of September 2017. This is an increase from $173,500 in 2016 and $161,000 in 2015.

The main drivers of home price appreciation in Mount Vernon are likely attributable to several factors: 1) low supply relative to demand; 2) strong job market; 3) low interest rates; and 4) moderate inflation. Together these factors have helped to drive up prices across all zip codes within the Southern Tier region (including Mount Vernon), which has made it one of the most desirable areas to live in upstate New York.

Despite these positive trends, there are some potential risks that could impact home values in Mount Vernon down the road. These include: 1) increasing interest rates; 2) slower economic growth; and 3) increased competition from other nearby areas due to limited housing stock availability. While any one or more of these risks could ultimately lead to lower home values within Mount Vernon, it is difficult to predict which would occur first or how severe they would be.