Cost of Living in Mount Vernon, KY

With a cost of living index of 60, Mount Vernon, KY is one of the most affordable cities in the country. Living here is 40% cheaper than the national average and 18% below the Kentucky state average of 78. Mount Vernon is a small community of 2,259 residents.

Housing costs are the biggest factor in Mount Vernon's cost of living. The median monthly rent is $660 (50% below the US median of $1,319), and the median home value sits at $100,500 (67% below the national median of $304,900). At current prices, the median home costs roughly 2.6x the median household income — well within traditional affordability guidelines.

The median household income in Mount Vernon is $38,639, which is 49% 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.

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.