Cost Of Living in Mount Vernon, MO

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19%

Overall NAT. AVG.

11%

Goods & Services NAT. AVG.

40%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Mount Vernon	Missouri	National
Cost of living	81	88	100
Goods & Services	89	92	100
Groceries	94	95	100
Health care	95	90	100
Housing	60	78	100
Transportation	90	91	100
Utilities	80	99	100

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Cost Of Living Quick Facts

The cost of living in Mount Vernon is 9% lower than the Missouri average
The cost of living in Mount Vernon is 19% lower than the national average
Mount Vernon housing is 40% lower than the national average
Missouri general sales tax is 17% lower than the national average
Missouri state income tax is 23% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$46,558	$3,880	$1,086	$1,397
Renters	$35,289	$2,941	$823	$1,059

A good way to judge both the affordability of the housing and the cost of living in Mount Vernon is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Mount Vernon has a median income of about $46,558 for people who own homes. Based on that number, a maximum of $1,086 should be spent on expenses related to housing. Renters have a slightly different median income, which is $35,289. Based on this average, renters should spend no more than $823 on all rental costs if they want to maintain a non-impoverished standard of living.

Missouri Sales Tax

State	General Sales Tax	With Max Surtax
Missouri	4.225%	10.85%

Missouri Income Tax

State	Income Tax (Low)	Income Tax (High)
Missouri	2%	4.95%

Goods & Services

Item	Mount Vernon	National avg.	Difference
Haircut	$20.90	$24.26	13.9%
Beauty Salon	$43.40	$45.56	4.7%
Toothpaste	$3.69	$3.70	0.2%
Shampoo	$1.43	$1.28	11.9%
Movie	$11.45	$12.13	5.7%
Bowling	$20.06	$18.00	11.5%

Groceries

Item	Mount Vernon	National avg.	Difference
Ground Beef	$5.93	$5.84	1.5%
Fried Chicken	$1.37	$1.57	12.7%
Milk	$4.65	$4.67	0.5%
Potatoes	$4.78	$4.93	3.1%
Pizza	$10.93	$12.09	9.6%
Beer	$9.53	$10.41	8.5%

Health Care

Item	Mount Vernon	National avg.	Difference
Optometrist	$87.72	$125.68	30.2%
Doctor	$89.65	$135.78	34.0%
Dentist	$114.22	$113.29	0.8%
Ibuprofen	$10.47	$10.65	1.7%
Lipitor	$495.14	$468.60	5.7%

Housing

Item	Mount Vernon	National avg.	Difference
Home Price	$110,200.00	$184,700.00	40.3%
Avg. Mortgage Payment	$1,859.59	$2,346.69	20.8%
Apartment Rent	$577.00	$949.00	39.2%

Transportation

Item	Mount Vernon	National avg.	Difference
Gasoline	$3.49	$3.46	0.8%
Tire Balancing	$45.32	$59.92	24.4%

Utilities

Item	Mount Vernon	National avg.	Difference
All Electricity	$193.72	$193.99	0.1%
Phone	$200.43	$192.25	4.3%

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	Population	Cost of Living Index	National Avg.
Chesapeake, MO	0	89	10.7%
La Russell, MO	146	74	26.2%
Hoberg, MO	49	72	28.0%
Stotts City, MO	138	76	23.6%
Verona, MO	691	74	25.9%
Mount Vernon, MO	4,490	81	19.5%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Ligonier, IN	4,489	84	16.2%
Scottsville, KY	4,489	83	16.6%
Denton, MD	4,488	103	3.0%
Mount Vernon, IA	4,487	98	2.4%
La Vale, MD	4,486	92	7.8%
Mount Vernon, MO	4,490	81	19.5%