Housing costs in Mount Vernon?
A typical home costs
$364,400, which is 7.8% more expensive than the national average of
$338,100 and 17.7% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Mount Vernon costs
$900 per month, which is 37.1% more than the national average of
$1,430 and 37.8% more than the state average of
$1,240.
Can I afford Mount Vernon?
To live comfortably in Mount Vernon, Minnesota, a minimum annual income of
$69,840 for a family, and
$29,200 for a single person is recommended.
What does A.I. say about Mount Vernon?
The cost of living in Mount Vernon, MN is relatively low compared to other cities. Basic necessities such as housing, groceries, and transportation are all quite affordable. The median home value in Mount Vernon is around $170,000 and the median rent is about $700 per month. Groceries in Mount Vernon are also fairly inexpensive. According to the Cost of Living Index (COLI) from Best Places, the cost of living in Mount Vernon is 7% lower than the U.S. average. Transportation costs are also very reasonable as a gallon of gas typically averages around $2.50 or less per gallon while public transportation fares are below the national average as well. All these factors combined make living in Mount Vernon quite attractive for those looking for an affordable place to call home.