Cost of Living in Montgomery County, Indiana
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 #1,377 of 3,144 counties for affordability (top 44%)
Data Story
About Cost of Living in Montgomery County, Indiana
Montgomery County beats national affordability
Montgomery County renters spend 14.9% of income on housing, below both the national threshold and Indiana's 15.6% state average. With a median household income of $66,571—just shy of the national median—the county delivers strong affordability relative to earnings.
Better than Indiana average
At 14.9%, Montgomery County's rent-to-income ratio outperforms the state average of 15.6%, marking it as one of Indiana's more affordable counties. The $827 median rent runs $56 below state average, contributing to this advantage.
Solid affordability in a regional range
Montgomery County's $827 rent sits between Martin County's unbeatable $643 and Monroe County's steep $1,151, occupying the lower-middle range. The county offers better affordability than Marion, Monroe, and Newton Counties while remaining slightly more expensive than Martin County.
Montgomery's efficient housing spending
Renters earning Montgomery County's $66,571 median income pay $827 monthly, dedicating just 14.9% to housing. Homeowners with a median home value of $166,300 face $951 in monthly costs—a manageable burden in context of county incomes.
Smart affordability in central Indiana
Montgomery County offers genuine affordability advantages for families earning middle-range Indiana incomes without requiring relocation to rural areas. It balances housing costs with community access, making it an attractive option for those seeking Indiana value.
Cost of Living Advisory: Montgomery County
Affordability Verdict
Montgomery County is affordable for renters, with a median gross rent of $827/month representing approximately 14.9% of median household income. The rent burden (GRAPI) stands at 28.0%.
Rent vs. Own
The median rent in Montgomery County is $827/month, while owner costs run $951/month. Renting saves approximately $124/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $33,080/year. For owner costs at the 28% rule, the required income is roughly $40,757/year. With a median household income of $66,571, 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
Compared to Noble County where rent averages $776/month, Montgomery County is approximately 7% more expensive.
Affordability Calculator
See how your income compares to housing costs in Montgomery County
Rent Burden
14.9%
of gross income
Max Housing (28% Rule)
$1,553
per month
Owner Cost Burden
17.1%
of gross income
You can likely afford the median home in Montgomery County
Median home value is $166,300. Estimated monthly cost: $1,328 vs. your max of $1,553.
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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