Total monthly cost of ownership
Cost to Own a Home in Mount Vernon, Missouri
A $175,000 home here costs
$1,400per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $900. The real number is $500 higher every month — 56% 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 Lawrence County and Missouri
| Measure | Mount Vernon | Lawrence County |
|---|---|---|
| Median home value | $175,000 | $159,800 |
| Median property tax | $869 | $969 |
| Effective tax rate | 0.497% | 0.606% |
| Median gross rent | $691 | $785 |
| Population | 4,532 | 38,392 |
The weather behind that power bill
Mount Vernon sits in Lawrence County, which averages a high of 89.4°F in its hottest month and a low of 22.2°F in its coldest, with 45.45" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,411 cooling and 4,493 heating degree days, which is what sets the $123 electricity line above.
See the full climate breakdown for Lawrence County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lawrence County
Full Lawrence County cost breakdown · Every county in Missouri
Common questions
How much does it cost to own a home in Mount Vernon?
A $175,000 home in Mount Vernon, Missouri costs approximately $1,400 per month with 20% down at 6.66%. That is $900 principal and interest, $72 property tax, $91 homeowners insurance, $191 utilities and $146 set aside for maintenance.
What is the property tax rate in Mount Vernon?
Mount Vernon has an effective property tax rate of 0.497%, based on a median home value of $175,000 and median real estate taxes of $869. That is lower than the Lawrence County average of 0.606%.
What is the average home price in Mount Vernon?
The median owner-occupied home value in Mount Vernon, Missouri is $175,000, against $159,800 across Lawrence County.
Is it cheaper to rent or buy in Mount Vernon?
Median gross rent in Mount Vernon is $691 a month, against $1,400 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 Missouri.
- 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.