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 VernonOhioNational
Cost of living index8391100
IndexMount VernonOhioNational
Goods & Services index8796100
Groceries index9799100
Health care index9196100
Housing index6375100
Transportation index9895100
Utilities index98101100
An overview of the general cost of living index for Mount Vernon, OH is displayed above for your reference. Residents in Mount Vernon, OH enjoy a cost of living index of 83. This index is 8% lower than the Ohio average, and 17% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Mount Vernon, OH, the average cost of goods and services is 10% lower than it is in Ohio, and it is 13% lower than the national average.

Did you know?

  • The cost of living in Mount Vernon is 8% lower than the Ohio average.
  • The cost of living in Mount Vernon is 17% lower than the national average.
  • The cost of housing in Mount Vernon is 37% lower than the national average.
  • Ohio general sales tax is 13% higher than the national average.
  • Ohio state income tax is 76% lower than the national average.

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Compare Mount Vernon, OH Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Mount Vernon, OH 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, OH, you have to earn a higher income in order to still have the same standard of living. To operate the Mount Vernon, OH 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$50,196$4,183$1,171$1,506
Renters$23,984$1,999$560$720
If you want to find a good determining factor for the cost of living and the general affordability of housing in Mount Vernon, OH, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Mount Vernon, OH, the median monthly income is $50,196 for those who own their own homes. Under the standard rule, that income level would allow for $1,171 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $23,984, per the median income in the area. That would allow for renters to spend up to $560 on monthly rental expenses.

Ohio Sales Tax

StateGeneral Sales TaxWith Max Surtax
Ohio5.75%8%

Ohio Income Tax

StateIncome Tax (Low)Income Tax (High)
Ohio0.528%5.333%
The Ohio sales tax and Ohio income tax rates should definitely be considered when determining the overall cost of living in Mount Vernon, OH. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Ohio sales tax is 5.75% and the maximum surtax is 8%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Ohio income tax rates range from 0.528% to 5.333%.

Goods & Services

ItemMount VernonNational avg.Difference
Haircut $11.80$14.5919.1%
Beauty Salon $31.75$34.688.4%
Toothpaste $2.47$2.470.1%
Shampoo $1.20$1.0217.4%
Movie $8.38$9.8715.1%
Bowling $3.00$4.3931.7%

Groceries

ItemMount VernonNational avg.Difference
Ground Beef $3.83$4.4814.4%
Fried Chicken $1.39$1.465.1%
Milk $2.21$2.366.2%
Potatoes $2.23$3.0627.2%
Pizza $9.00$9.242.6%
Beer $7.99$8.637.4%

Health Care

ItemMount VernonNational avg.Difference
Optometrist $92.00$99.787.8%
Doctor $87.67$105.0316.5%
Dentist $74.75$88.7015.7%
Ibuprofen $8.31$9.4111.7%
Lipitor $324.05$298.508.6%

Housing

ItemMount VernonNational avg.Difference
Home Price $103,200.00$175,700.0041.3%
Avg. Mortgage Payment $627.79$1,081.0341.9%
Apartment Rent $679.00$920.0026.2%

Transportation

ItemMount VernonNational avg.Difference
Gasoline $1.98$2.095.5%
Tire Balancing $48.33$45.296.7%

Utilities

ItemMount VernonNational avg.Difference
All Electricity$136.21$170.8020.3%
Phone $34.95$28.2623.7%
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.
Martinsburg, OH22981-19%
Danville, OH1,09080-20%
Utica, OH2,38881-19%
St. Louisville, OH36482-18%
Chesterville, OH21682-18%
Mount Vernon, OH16,91983-17%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Marco Island, FL16,92114747%
North Aurora, IL16,9271077%
Norwalk, OH16,92784-16%
Hinsdale, IL16,89818585%
Kapolei, HI16,89017373%
Mount Vernon, OH16,91983-17%
Source: The Mount Vernon, OH cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.