Cost of Living in Montgomery, Illinois
Montgomery has a population of about 21,515. The median household income is $103,734, median gross rent is $1,984/month, and the median home value is $299,500. These figures come from 2020-2024 ACS 5-Year estimates, the latest full-coverage Census baseline for U.S. cities.
How current is this? Census city data is released with a lag because it is survey-based and designed for consistent coverage across small and large places. Use it as an official affordability baseline; current apartment listings and mortgage rates may differ.
Is Montgomery expensive to live in?
Compared with the national median in this dataset, rent in Montgomery is 20% above the national median and home values are 20% below the national median. Household income here is 24% above the national median. Monthly rent represents roughly 23% of the median annual household income, a rough affordability signal for renters.
Frequently asked questions
What is the average rent in Montgomery?
The median gross rent in Montgomery, Illinois is $1,984 per month in the 2020-2024 ACS 5-Year estimates.
What is the median home price in Montgomery?
The median owner-occupied home value in Montgomery is $299,500 in the 2020-2024 ACS 5-Year estimates.
How much do people earn in Montgomery?
The median household income in Montgomery is $103,734 per year in the 2020-2024 ACS 5-Year estimates.
Data source: U.S. Census Bureau, 2020-2024 ACS 5-Year Estimates. Local database last refreshed 2026-07-11.