Total monthly cost of ownership
Cost to Own a Home in Mount Vernon, Kentucky
A $101,000 home here costs
$947per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $40,500 a year.
A standard mortgage calculator would have told you $551. The real number is $397 higher every month, 72% more than the payment most buyers budget for.
Compare Rockcastle County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Mount Vernon from a five-year rolling sample, and with about 2,259 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Rockcastle County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Mount Vernon against Rockcastle County and Kentucky
| Measure | Mount Vernon | Rockcastle County |
|---|---|---|
| Median home value | $100,500 | $119,300 |
| Median property tax | $559 | $574 |
| Effective tax rate | 0.556% | 0.481% |
| Median gross rent | $660 | $678 |
| Population | 2,259 | 16,144 |
The weather behind that power bill
Mount Vernon sits in Rockcastle County, which averages a high of 84.4°F in its hottest month and a low of 24.5°F in its coldest, with 51.35" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,100 cooling and 4,600 heating degree days, which is what sets the $144 electricity line above.
See the full climate breakdown for Rockcastle County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Rockcastle County
Full Rockcastle County cost breakdown · Every county in Kentucky
Talk to someone who works this market
These are Mount Vernon averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Mount Vernon every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Mount Vernon I already own here and may sell
Common questions
How much does it cost to own a home in Mount Vernon?
A $101,000 home in Mount Vernon, Kentucky costs approximately $947 per month with 20% down at 7.24%. That is $551 principal and interest, $47 property tax, $53 homeowners insurance, $212 utilities and $84 set aside for maintenance.
What is the property tax rate in Mount Vernon?
Mount Vernon has an effective property tax rate of 0.556%, based on a median home value of $100,500 and median real estate taxes of $559. That is higher than the Rockcastle County average of 0.481%.
What is the average home price in Mount Vernon?
The median owner-occupied home value in Mount Vernon, Kentucky is $100,500, against $119,300 across Rockcastle County.
Is it cheaper to rent or buy in Mount Vernon?
Median gross rent in Mount Vernon is $660 a month, against $947 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Mount Vernon?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Mount Vernon, Kentucky at today's rate takes a household income of roughly $40,500 a year. That covers the full $947 monthly cost, not just the mortgage payment.
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 Kentucky.
- 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.