Cost of Living in Montgomery County, Virginia
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 #1,680 of 3,144 counties for affordability (bottom 47%)
Data Story
About Cost of Living in Montgomery County, Virginia
Montgomery rents pinch compared to nation
At 20.4%, Montgomery County's rent-to-income ratio exceeds both the Virginia state average (18.6%) and signals tighter affordability than the national landscape. With a median household income of $70,769—below the national median of $74,755—housing costs take a larger slice of paychecks here.
Below-average affordability statewide
Montgomery ranks in Virginia's less affordable half, with a rent-to-income ratio 1.8 points above state average and median rent $66 higher than the state median of $1,140. The combination of lower incomes and higher rents places affordability pressure on renters throughout the county.
Higher rents than most rural peers
Montgomery's $1,206 median rent significantly exceeds nearby Nelson County ($950) and Northampton County ($780), though the county offers stronger income prospects than those neighbors. Compared to Middlesex County's $1,071 rent, Montgomery renters pay roughly $135 more monthly for comparable housing.
Housing absorbs more than one-fifth of income
Renters dedicate $1,206 monthly to housing on a median income of $70,769, consuming over 20% of household earnings. Homeowners face a somewhat lighter burden at $996 monthly, or about 17% of income, reflecting the county's mixed affordability picture.
Consider lower-cost alternatives nearby
If affordability is your priority, Montgomery County's 20.4% rent-to-income ratio suggests exploring nearby Nelson or Northampton counties first. However, if you need Montgomery's employment and service networks, factor the higher housing costs into your relocation budget—plan for roughly $1,200 monthly rent.
Cost of Living Advisory: Montgomery County
Affordability Verdict
Montgomery County offers affordable rental housing at a median of $1,206/month — about 20.4% of the typical household income here.
Rent vs. Own
The median rent in Montgomery County is $1,206/month, while owner costs run $996/month. Owning saves approximately $210/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $48,240/year. For owner costs at the 28% rule, the required income is roughly $42,686/year. With a median household income of $70,769, most households can comfortably afford rent here. Notably, 30.0% of renter households in Montgomery County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Virginia, Montgomery County is more affordable than Roanoke County by roughly 5% ($1,206/mo vs $1,148/mo).
Affordability Calculator
See how your income compares to housing costs in Montgomery County
Rent Burden
20.4%
of gross income
Max Housing (28% Rule)
$1,651
per month
Owner Cost Burden
16.9%
of gross income
The median home in Montgomery County may be a stretch
Median home value is $283,600. Estimated monthly cost: $2,264 vs. your max of $1,651.
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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