Mount Vernon, IN vs Waterloo, IN

Mount Vernon, IN and Waterloo, IN have a very similar cost of living, with only a 0.5% difference in their overall index. Mount Vernon scores 67 while Waterloo scores 67 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 $829/month in Waterloo — a 12% difference. Interestingly, home values tell a different story: while Mount Vernon has cheaper rent, Waterloo actually has lower median home values ($108,600 vs $164,200).

Median household income in Mount Vernon is $61,527 compared to $61,375 in Waterloo (+0.2%). Mount Vernon does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Mount Vernon spend roughly 14.2% of their income on rent, less than the 16.2% in Waterloo.