Quick facts: Vernon, MI

Quick Facts

94.9
Cost of Living
below US average
726
Population
1.38
Crime Rate per 1000
below US average
$75,227
Median Income
below US average
$164,900
Median House Price
above US average
$1435
Average Rent
above US average
7%
Poverty Rate
below US average
4.0%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $75,227.

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Income Needed to Buy

βœ“ Affordable
$52k/year
Based on $164,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($75,227) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$61k/year
Based on $1435/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($75,227) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Vernon, MI

Vernon, Michigan, is a quaint village located in Shiawassee County, known for its small-town charm and close-knit community. With a population of around 900 residents, Vernon embodies a peaceful lifestyle, surrounded by lush greenery and beautiful landscapes that reflect the serene rural atmosphere of Michigan. Incorporated in 1861, Vernon features historical buildings that tell the story of its past, with a blend of modern amenities and rustic character. The village offers various recreational opportunities, including parks and outdoor activities, making it ideal for families and nature enthusiasts. Vernon is conveniently located near major highways, providing easy access to larger cities like Flint and Owosso. This proximity allows residents to enjoy the tranquility of village life while being close to urban conveniences. The local economy is primarily driven by small businesses and agriculture, contributing to the regional culture. Residents frequently engage in community events, fostering a sense of belonging and unity. Overall, Vernon, MI, is a picturesque spot ideal for those seeking a quiet lifestyle enriched by a strong sense of community and a connection to nature.

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