Total monthly cost of ownership
Cost to Own a Home in Mount Vernon, Iowa
A $257,000 home here costs
$2,165per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,321. The real number is $844 higher every month — 64% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Mount Vernon against Linn County and Iowa
| Measure | Mount Vernon | Linn County |
|---|---|---|
| Median home value | $256,900 | $204,400 |
| Median property tax | $3,875 | $3,396 |
| Effective tax rate | 1.508% | 1.661% |
| Median gross rent | $802 | $915 |
| Population | 4,551 | 229,463 |
The weather behind that power bill
Mount Vernon sits in Linn County, which averages a high of 85.5°F in its hottest month and a low of 12.5°F in its coldest, with 38.75" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 918 cooling and 6,384 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Linn County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Linn County
Common questions
How much does it cost to own a home in Mount Vernon?
A $257,000 home in Mount Vernon, Iowa costs approximately $2,165 per month with 20% down at 6.66%. That is $1,321 principal and interest, $323 property tax, $112 homeowners insurance, $195 utilities and $214 set aside for maintenance.
What is the property tax rate in Mount Vernon?
Mount Vernon has an effective property tax rate of 1.508%, based on a median home value of $256,900 and median real estate taxes of $3,875. That is lower than the Linn County average of 1.661%.
What is the average home price in Mount Vernon?
The median owner-occupied home value in Mount Vernon, Iowa is $256,900, against $204,400 across Linn County.
Is it cheaper to rent or buy in Mount Vernon?
Median gross rent in Mount Vernon is $802 a month, against $2,165 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Mount Vernon — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Iowa.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.