Mount Vernon, VA

Very High · 177

Virginia · Population 13,120 · Updated March 2026

$1,643
Median Rent / Month
$156,875
Median Income
$779,800
Median Home Value
$2,547
Owner Costs / Month

Affordability

How far your income goes in Mount Vernon

12.6%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Virginia

State-level tax rates that affect your costs

5.75%
Income Tax (Top Rate)
5.3%
Sales Tax
0.8%
Property Tax Rate

Estimated Annual Costs

$19,716
Annual Rent
$9,020
State Income Tax
$6,238
Property Tax (est.)

Cost of Living Overview

Mount Vernon has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 177 (where 100 equals the national median), Mount Vernon residents can expect to pay median rent of $1,643/month while earning a median household income of $156,875/year.

The median home value in Mount Vernon, VA is $779,800, with typical monthly owner costs around $2,547 including mortgage, insurance, and taxes. The median rent-to-income ratio of 12.6% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Virginia has a moderate income tax rate of 5.75%. Combined with a 5.3% sales tax rate and 0.8% effective property tax rate, the overall tax environment is a factor in the total cost of living in Mount Vernon.

Frequently Asked Questions

Common questions about living costs in Mount Vernon

What is the cost of living in Mount Vernon, VA?
The cost of living index in Mount Vernon, VA is 177 (US average = 100). Median monthly rent is $1,643, median household income is $156,875/year, and the median home value is $779,800.
Is Mount Vernon, VA affordable?
No, Mount Vernon is more expensive than the national average with a cost index of 177. The rent-to-income ratio is 12.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Mount Vernon, VA?
The median gross rent in Mount Vernon, VA is $1,643 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $19,716.
What is the median household income in Mount Vernon?
The median household income in Mount Vernon, VA is $156,875 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Virginia?
Virginia has a top income tax rate of 5.75%, a sales tax of 5.3%, and an effective property tax rate of 0.8%.