Cost of Living in Montgomery County, Iowa
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
Data Story
About Cost of Living in Montgomery County, Iowa
Montgomery County edges toward affordability stress
Montgomery County renters spend 14.8% of income on housing, approaching the national affordability caution zone of 15-20% for housing burden. With median household income of $63,190—significantly below the national average of $74,755—residents here have less financial cushion to absorb future rent increases.
Slightly above Iowa's comfort zone
Montgomery County's rent-to-income ratio of 14.8% nudges above Iowa's state average of 14.1%, placing it in the upper tier of affordability concerns statewide. Renters pay $782 monthly—just $30 below the state median—but lower incomes create proportionally heavier housing burdens.
Among the region's more stressed counties
Montgomery County renters spend 14.8% of income on $782 rent, trailing only Monona County (15.2%) and Muscatine County (16.7%) in housing burden across the eight-county region. Mitchell County and Mills County offer substantially better affordability, making them attractive alternatives for budget-conscious renters.
Homeownership offers modest relief
Montgomery County renters dedicate 14.8% of their $63,190 income to $782 monthly rent, while homebuyers pay $737 for properties worth $109,900. Homeownership is notably cheaper than renting here, suggesting that owner-occupancy provides more sustainable housing paths for working families.
Pursue ownership to ease housing costs
Montgomery County presents clear incentives for homeownership over renting: monthly owner costs run $45 cheaper than rent while building equity. If relocating to Iowa, weigh whether mortgage qualification is possible here, as ownership dramatically improves your housing affordability picture.
Affordability Calculator
See how your income compares to housing costs in Montgomery County
Rent Burden
14.9%
of gross income
Max Housing (28% Rule)
$1,474
per month
Owner Cost Burden
14.0%
of gross income
You can likely afford the median home in Montgomery County
Median home value is $109,900. Estimated monthly cost: $877 vs. your max of $1,474.
Rent Affordability Guide
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.