| Index | Vernon | Texas | National |
| Cost of living | 83 | 94 | 100 |
| Groceries | 99 | 98 | 100 |
| Health care | 98 | 98 | 100 |
| Housing | 50 | 83 | 100 |
| Transportation | 94 | 98 | 100 |
| Utilities | 107 | 103 | 100 |
| Lifestyle & Entertainment | 95 | 98 | 100 |
| Household Items | 100 | 98 | 100 |
| Education & Childcare | 93 | 98 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Vernon? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Vernon stands at 83, making it 17% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
Housing costs often consume a significant share of your take-home income, often surpassing 30%. Fortunately, Vernon distinguishes itself by reporting housing expenses that are 50.4% below the national average. This indicates that both owning a home and renting in this area are notably more budget-friendly compared to the rest of the nation. With such favorable housing affordability, residents of Vernon can allocate more of their income to housing, enhancing their financial flexibility.
Is Vernon an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Vernon is 60.8% lower than the national average, while the average monthly rent prices are 26.2% lower than average. The affordability of any location can also be influenced by median income levels. Vernon has a median household income of $64,857, which is 20.3% lower than the national average.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Vernon, the transportation index is 5.7% lower than the national average.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Vernon, the groceries index is 1.3% lower than the national average.
The Vernon cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $71,189 | $5,932 | $1,661 | $2,136 |
| Renters | $54,406 | $4,534 | $1,269 | $1,632 |
| State | General Sales Tax | With Max Surtax |
| Texas | 6.25% | 8.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Texas | 0% | 0% |
| City | Population | Cost of Living Index | National Avg. |
| Davidson, OK | 295 | 77 | 22.8% |
| Chillicothe, TX | 790 | 81 | 19.1% |
| Vernon, TX | 10,347 | 83 | 16.6% |
| City | Population | Cost of Living Index | National Avg. |
| The Pinery, CO | 10,348 | 161 | 60.7% |
| Española, NM | 10,349 | 93 | 7.2% |
| Lancaster, NY | 10,349 | 100 | 0.2% |
| Harrisonville, MO | 10,343 | 90 | 9.6% |
| Elkhorn, WI | 10,351 | 98 | 1.7% |
| Vernon, TX | 10,347 | 83 | 16.6% |
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