The typical owner-occupied home in Vernon is worth about $115,800, 68% below the Florida median of $359,000 and 65% below the national median of $332,700. Owners pay a median $659 a year in property taxes, about 0.57% of their home's value, lower than the Florida rate of 0.76%. The median household earns $43,194 a year, so the median home costs 2.7 times the median income (4.8 times for Florida). 70% of occupied homes here are lived in by their owners, and 32% of those owners still have a mortgage.
Vernon at a glance
| Vernon | Florida | U.S. | |
|---|---|---|---|
| Median home value | $115,800 | $359,000 | $332,700 |
| Median property tax paid per year | $659 | $2,730 | $3,119 |
| Property tax as a share of value | 0.57% | 0.76% | 0.94% |
| Median household income | $43,194 | $74,568 | $80,734 |
| Homes lived in by their owners | 70% | 68% | 65% |
| Owner homes with a mortgage | 32% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,287 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 18.0% | 23.6% | 21.0% |
| Median rent | $807 | $1,669 | $1,413 |
| Rent as a share of renters' income | 32.3% | 35.2% | 30.6% |
| Median year homes were built | 1981 | 1988 | 1980 |
| Vacant homes | 11.3% | 14.7% | 10.1% |
| Population | 815 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Vernon
At this week's average 30-year rate of 7.11%, buying the median Vernon home of $115,800 with 20% down costs about $726 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $919, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $31,134 for the 20%-down payment. That payment is 20% of the median Vernon household income of $43,194; at that income and 20% down, the 28% guideline points to a home of about $161,000.
The median rent here is $807 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $23,160 |
|---|---|
| Loan amount | $92,640 |
| Principal and interest | $623 |
| Property taxes (0.57% a year) | $55 |
| Homeowners insurance (our estimate, 0.5% a year) | $48 |
| PMI | $0 |
| Total per month | $726 |
Change the numbers in the calculator
| Down payment | $4,053 |
|---|---|
| Loan amount | $113,703 |
| Principal and interest | $765 |
| Property taxes (0.57% a year) | $55 |
| Homeowners insurance (our estimate, 0.5% a year) | $48 |
| FHA mortgage insurance | $51 |
| Total per month | $919 |
Change the numbers in the calculator
Questions about home buying in Vernon
What is the median home value in Vernon?
About $115,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Vernon?
Homeowners pay a median $659 a year, which is about 0.57% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Vernon?
For the median home with 20% down at 7.11%, the payment is about $726 a month. Keeping that under 28% of gross income takes about $31,134 a year.
More about Vernon
- Mortgage Refinance in Vernon
- Debt Relief in Vernon
- Home Equity Loans in Vernon
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data