Total monthly cost of ownership
Cost to Own a Home in Mount Vernon, Texas
A $177,000 home here costs
$1,618per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $910. The real number is $708 higher every month — 78% 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 Franklin County and Texas
| Measure | Mount Vernon | Franklin County |
|---|---|---|
| Median home value | $176,900 | $213,200 |
| Median property tax | $2,733 | $1,944 |
| Effective tax rate | 1.545% | 0.912% |
| Median gross rent | $954 | $948 |
| Population | 2,523 | 10,522 |
The weather behind that power bill
Mount Vernon sits in Franklin County, which averages a high of 94.6°F in its hottest month and a low of 34.2°F in its coldest, with 48.19" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 2,413 cooling and 2,511 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Franklin County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Franklin County
No other places of this size are published in Franklin County.
Common questions
How much does it cost to own a home in Mount Vernon?
A $177,000 home in Mount Vernon, Texas costs approximately $1,618 per month with 20% down at 6.66%. That is $910 principal and interest, $228 property tax, $117 homeowners insurance, $216 utilities and $148 set aside for maintenance.
What is the property tax rate in Mount Vernon?
Mount Vernon has an effective property tax rate of 1.545%, based on a median home value of $176,900 and median real estate taxes of $2,733. That is higher than the Franklin County average of 0.912%.
What is the average home price in Mount Vernon?
The median owner-occupied home value in Mount Vernon, Texas is $176,900, against $213,200 across Franklin County.
Is it cheaper to rent or buy in Mount Vernon?
Median gross rent in Mount Vernon is $954 a month, against $1,618 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 Texas.
- 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.