Mount Vernon cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexMount VernonIndianaNational
Cost of living index8287100
IndexMount VernonIndianaNational
Goods & Services index9694100
Groceries index8994100
Health care index9495100
Housing index5773100
Transportation index8992100
Utilities index9190100
The above illustration supplies generalized information for the Mount Vernon, IN cost of living index. Compared to other cities in Indiana and cities across the country, the cost of living index in Mount Vernon, IN is 82, which is 6% lower than the Indiana average and 18% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Mount Vernon, IN are 2% higher than the average for Indiana and 4% lower than the rest of the country.

Did you know?

  • The cost of living in Mount Vernon is 6% lower than the Indiana average.
  • The cost of living in Mount Vernon is 18% lower than the national average.
  • The cost of housing in Mount Vernon is 43% lower than the national average.
  • Indiana general sales tax is 37% higher than the national average.
  • Indiana state income tax is 48% higher than the national average.

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Salary Calculator

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Groceries index
Health care index
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Using the salary calculator lets you compare the salary you earn in Mount Vernon, IN to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Mount Vernon, IN, you have to earn a higher income in order to still have the same standard of living. To operate the Mount Vernon, IN salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$65,801$5,483$1,535$1,974
Renters$24,009$2,001$560$720
One can approximate the cost of living and the housing affordability in Mount Vernon, IN by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Mount Vernon, IN have a median income of $65,801. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,535 per month to avoid calamity and poverty. The renters in the city have an income of about $24,009, which would make their monthly maximum allowable rental costs $560.

Indiana Sales Tax

StateGeneral Sales TaxWith Max Surtax
Indiana7%7%

Indiana Income Tax

StateIncome Tax (Low)Income Tax (High)
Indiana3.3%3.3%
When you are determining the total cost of living in Mount Vernon, IN you will want to make sure you consider both the Indiana sales tax and the Indiana income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Indiana is 7%, with the highest surtax being 7%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Indiana have a range from 3.3% to 3.3%.

Goods & Services

ItemMount VernonNational avg.Difference
Haircut $16.85$15.568.2%
Beauty Salon $32.83$36.119.1%
Toothpaste $1.64$2.4733.8%
Shampoo $0.90$0.967.1%
Movie $9.13$10.139.8%
Bowling $3.43$4.7427.6%

Groceries

ItemMount VernonNational avg.Difference
Ground Beef $3.87$3.982.8%
Fried Chicken $1.11$1.4121.4%
Milk $1.52$2.0626.5%
Potatoes $2.61$2.9812.6%
Pizza $9.99$9.475.5%
Beer $7.84$8.7910.8%

Health Care

ItemMount VernonNational avg.Difference
Optometrist $117.91$101.0416.7%
Doctor $90.53$107.4415.7%
Dentist $81.87$90.429.5%
Ibuprofen $8.25$9.2811.1%
Lipitor $445.26$426.504.4%

Housing

ItemMount VernonNational avg.Difference
Home Price $93,900.00$175,700.0046.6%
Avg. Mortgage Payment $915.34$1,133.2319.2%
Apartment Rent $611.00$920.0033.6%

Transportation

ItemMount VernonNational avg.Difference
Gasoline $1.86$1.996.6%
Tire Balancing $36.00$45.7621.3%

Utilities

ItemMount VernonNational avg.Difference
All Electricity$168.12$163.812.6%
Phone $21.67$28.3923.7%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Maunie, IL10268-32%
New Haven, IL40674-26%
Uniontown, KY85176-24%
Corydon, KY74881-19%
New Harmony, IN71184-16%
Mount Vernon, IN6,60782-18%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
South Run, VA6,60718383%
Pike Road, AL6,6051088%
Hapeville, GA6,61195-5%
Noble, OK6,60283-17%
Northborough, MA6,61313636%
Mount Vernon, IN6,60782-18%
Source: The Mount Vernon, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.