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 VernonMissouriNational
Cost of living index8491100
IndexMount VernonMissouriNational
Goods & Services index9999100
Groceries index10095100
Health care index9497100
Housing index5479100
Transportation index8387100
Utilities index103104100
A general summary of the cost of living index in Mount Vernon, MO is shown above. Compared to the state average of Missouri the cost of living index in Mount Vernon, MO is 84, which is 8% lower than the average in Missouri and compared to the national average it is 16% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Mount Vernon, MO goods and services come in at equal to the average in Missouri and are 1% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Mount Vernon is 8% lower than the Missouri average.
  • The cost of living in Mount Vernon is 16% lower than the national average.
  • The cost of housing in Mount Vernon is 46% lower than the national average.
  • Missouri general sales tax is 17% lower than the national average.
  • Missouri state income tax is 33% lower than the national average.

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Compare Mount Vernon, MO Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Mount Vernon, MO to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Mount Vernon, MO, then you would need to earn more income in order to maintain the same standard of living. To use the Mount Vernon, MO salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$41,895$3,491$977$1,257
Renters$26,497$2,208$618$795
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Mount Vernon, MO, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Mount Vernon, MO has a median income of about $41,895 for people who own homes. Based on that number, a person should spend a maximum of $977 on expenses related to housing. Renters have a slightly different median income, which is $26,497. Based on this average, renters should spend no more than $618 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Missouri Sales Tax

StateGeneral Sales TaxWith Max Surtax
Missouri4.225%9.35%

Missouri Income Tax

StateIncome Tax (Low)Income Tax (High)
Missouri1.5%6%
When you are determining the total cost of living in Mount Vernon, MO you will want to make sure you consider both the Missouri sales tax and the Missouri 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 Missouri is 4.225%, with the highest surtax being 9.35%. 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 Missouri have a range from 1.5% to 6%.

Goods & Services

ItemMount VernonNational avg.Difference
Haircut $12.25$14.5916.1%
Beauty Salon $33.67$34.682.9%
Toothpaste $1.69$2.4731.7%
Shampoo $0.84$1.0217.8%
Movie $9.58$9.872.9%
Bowling $3.63$4.3917.3%

Groceries

ItemMount VernonNational avg.Difference
Ground Beef $4.17$4.486.9%
Fried Chicken $1.71$1.4616.8%
Milk $2.46$2.364.4%
Potatoes $2.76$3.069.8%
Pizza $8.49$9.248.1%
Beer $8.81$8.632.1%

Health Care

ItemMount VernonNational avg.Difference
Optometrist $93.00$99.786.8%
Doctor $104.00$105.031.0%
Dentist $75.25$88.7015.2%
Ibuprofen $8.42$9.4110.5%
Lipitor $313.13$298.504.9%

Housing

ItemMount VernonNational avg.Difference
Home Price $78,900.00$175,700.0055.1%
Avg. Mortgage Payment $778.68$1,081.0328.0%
Apartment Rent $704.00$920.0023.5%

Transportation

ItemMount VernonNational avg.Difference
Gasoline $1.68$2.0919.7%
Tire Balancing $40.99$45.299.5%

Utilities

ItemMount VernonNational avg.Difference
All Electricity$150.33$170.8012.0%
Phone $35.01$28.2623.9%
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.
Chesapeake, MO4997-3%
Stotts City, MO14474-26%
Hoberg, MO4677-23%
Freistatt, MO19178-22%
Miller, MO66481-19%
Mount Vernon, MO4,53984-16%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Forestbrook, SC4,53997-3%
Goulding, FL4,53983-17%
New Castle, CO4,53812424%
Ellisville, MS4,54079-21%
North Westport, MA4,54012727%
Mount Vernon, MO4,53984-16%
Source: The Mount Vernon, MO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.