Cost of Living in Montgomery County, Illinois
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Montgomery County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Montgomery County ranks #2,004 of 3,144 counties for affordability (bottom 36%)
Data Story
About Cost of Living in Montgomery County, Illinois
Montgomery stretches tight household budgets
Montgomery County's median household income of $61,863 falls 17.3% below the national median, and while its 13.9% rent-to-income ratio edges below the national norm of roughly 15%, residents have little margin for error. Housing affordability here depends critically on keeping costs low.
Montgomery faces statewide affordability pressure
Montgomery County's 13.9% rent-to-income ratio nearly matches Illinois's 14.7% state average, though rents of $715/month undercut the state's $837 median. Limited incomes make even below-average rents a meaningful household burden.
Montgomery offers lowest regional costs
Montgomery's $715 median rent ranks lowest in its comparison group, and the median home value of $102,200 is the region's cheapest. For households with modest incomes, Montgomery's low absolute costs provide essential relief.
Housing dominates Montgomery budgets
At 13.9% for rent and 15.1% for owner costs, Montgomery households dedicate roughly one-third of income to housing—a higher proportion than wealthier neighbors. A $780/month mortgage on a $102,200 home represents significant expense for the county's below-average earners.
Montgomery for cost-conscious movers
If your household income is below state average, Montgomery County offers Illinois's lowest absolute housing costs without excessive rent burdens. Weigh Montgomery's economic constraints against its affordability advantage before relocating.
Cost of Living Advisory: Montgomery County
Affordability Verdict
Housing in Montgomery County is affordable. The median rent is $715/month against a median household income of $61,863, putting rent at 13.9% of income.
Rent vs. Own
Renters in Montgomery County pay $715/month on average, compared to $780/month for homeowners. This market favors renters by about 8%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $28,600/year. For owner costs at the 28% rule, the required income is roughly $33,429/year. With a median household income of $61,863, most households can comfortably afford rent here. Notably, 28.0% of renter households in Montgomery County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Illinois, Montgomery County is less affordable than Jasper County by roughly 7% ($715/mo vs $766/mo).
Affordability Calculator
See how your income compares to housing costs in Montgomery County
Rent Burden
13.9%
of gross income
Max Housing (28% Rule)
$1,443
per month
Owner Cost Burden
15.1%
of gross income
You can likely afford the median home in Montgomery County
Median home value is $102,200. Estimated monthly cost: $816 vs. your max of $1,443.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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