Mount Vernon, IN vs New Castle, IN

Mount Vernon, IN and New Castle, IN have a very similar cost of living, with only a 3.7% difference in their overall index. Mount Vernon scores 67 while New Castle scores 65 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Mount Vernon is $726/month compared to $797/month in New Castle — a 9% difference. Interestingly, home values tell a different story: while Mount Vernon has cheaper rent, New Castle actually has lower median home values ($95,100 vs $164,200).

Median household income in Mount Vernon is $61,527 compared to $48,977 in New Castle (+25.6%). While Mount Vernon is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Mount Vernon spend roughly 14.2% of their income on rent, less than the 19.5% in New Castle.