Total monthly cost of ownership
Cost to Own a Home in Mount Vernon, Texas
A $177,000 home here costs
$1,700per 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 $73,000 a year.
A standard mortgage calculator would have told you $965. The real number is $735 higher every month, 76% more than the payment most buyers budget for.
Compare Franklin 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 2,523 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 Franklin 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 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 $174 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.
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 $177,000 home in Mount Vernon, Texas costs approximately $1,700 per month with 20% down at 7.24%. That is $965 principal and interest, $228 property tax, $117 homeowners insurance, $242 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 $1,700 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, Texas at today's rate takes a household income of roughly $73,000 a year. That covers the full $1,700 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 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.