Montgomery, AL
Montgomery County · Pop. 200,603
Ranked #8 of 243 cities
60Moderate
Median Home Price
🏠$180K
2.5% YoY
Median Rent
🔑$950
1.5% YoY
Median Income
💰$42K
Rent Burden
📊30.5%
% of income to rent
Income to Buy
🏦$52K
annual income needed
Income to Rent
📝$38K
annual income needed
Price-to-Income
⚖️4.3x
Homeownership
🏡52.0%
Rent vs. Buy
Buy
$958/mo
Est. mortgage (7%, 20% down)
Need $52K/yr income
Rent
$950/mo
Median rent
Need $38K/yr income
How Montgomery Compares
| Metric | Montgomery | Alabama | National |
|---|---|---|---|
| Home Price | $180K | $217K | $410K |
| Rent | $950 | $982 | $1,500 |
| Income | $42K | $62K | $75K |
| Rent Burden | 30.5% | 28.5% | 30.0% |
Key Takeaways
- • Home prices in Montgomery are 56% lower than the national average.
- • Rent is 37% lower than the national average.
- • You need an income of $52K to comfortably buy a home here.
- • The homeownership rate is 52.0%, compared to 65.0% nationally.