Cost of Living in Mount Vernon, IL

With a cost of living index of 68, Mount Vernon, IL is one of the most affordable cities in the country. Living here is 32% cheaper than the national average and 12% below the Illinois state average of 80. Mount Vernon is a smaller community of 14,492 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Mount Vernon's cost of living. The median monthly rent is $893 (32% below the US median of $1,319), and the median home value sits at $89,700 (71% below the national median of $304,900). At current prices, the median home costs roughly 1.7x the median household income — well within traditional affordability guidelines.

The median household income in Mount Vernon is $52,751, which is 30% lower than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Mount Vernon. The area sees an average annual temperature of 56.4°F, with summers averaging 76°F and winters around 36°F. Annual rainfall totals 44 inches spread over roughly 130 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.