The electrical and mechanical behaviors of carbon black-filled, poly(vinyl acetate) latex-based polymer composites were examined. These composites were found to exhibit percolation thresholds in electrical conductivity near 2 vol% carbon black due to their segregated microstructures. Storage modulus and ultimate tensile strength (UTS) both exhibited discontinuities at 10 vol% carbon black, corresponding to a critical pigment volume concentration. Drying composites at 60°C rather than room temperature produced a higher percolation threshold and better mechanical properties at carbon black loadings above 10 vol% carbon black. A figure of merit was proposed to assess the balance of electrical conductivity, storage modulus and UTS. The figure of merit exhibited a peak value at 10 vol% for composites dried at room temperature and was shifted to higher carbon black concentrations when composites were dried at 60°C.