Living in Montgomery, Minnesota
Cost of living, income, home prices, rent and demographics of Montgomery · Census data 2020–2024
Montgomery has 3,434 residents with a median age of 34.3. The median household income is $79,432 (11% lower than the Minnesota median), the median home value is $234,700, the median rent is $974/month.
Montgomery at a glance
- Population
- 3,434
- Median age
- 34.3State: 38.8
- Median household income
- $79,432State: $89,062
- Median home value
- $234,700State: $329,300
- Median rent
- $974/moState: $1,280
- Homeowners
- 74.8%
- Bachelor's degree or higher
- 17%
- Average commute
- 23 min
Is Montgomery a good place to live?
Pros: Home values 29% lower than the state median; unemployment of 3%; a poverty rate of 5.8%.
Cons: Median household income 11% lower than the Minnesota median; an average commute of 23 minutes.
The weather is best in June to September.
Cost of living in Montgomery
Housing is the biggest part of the cost of living. In Montgomery the median home value is $234,700, 29% lower than the U.S. median. Renters pay a median of $974 per month, which is 29.6% of household income. Homeowners with a mortgage pay $1,539 a month in housing costs.
Montgomery median household income
The median household income in Montgomery is $79,432 and the income per person is $38,231. 5.8% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Montgomery: homes for sale and rent
- Housing units
- 1,426
- Owner-occupied
- 74.8%
- Renter-occupied
- 25.2%
- Vacant
- 2.9%Includes seasonal homes
- Median year built
- 1964
- Average household size
- 2.40
Montgomery demographics
- Population
- 3,434
- Median age
- 34.3
- Under 18
- 26.8%
- 65 and older
- 16.2%
- Households
- 1,384
- Foreign-born
- 2.2%
- Veterans
- 6.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Montgomery ›
Education in Montgomery
17% of adults 25 and older in Montgomery have a bachelor's degree or higher (Minnesota: 39.4%), and 3.7% have a graduate or professional degree.
Jobs and commute in Montgomery
- Unemployment rate
- 3%State: 4.1%
- Average commute
- 23 minState: 23 min
- Work from home
- 17.5%
- Drive alone
- 71.6%
- Public transit
- 0%
- Walk to work
- 6.4%
- Homes with broadband
- 90.8%
Montgomery vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Montgomery | 3,434 | $79,432 | $234,700 | $974 |
| Heidelberg | 235 | $115,417 | $316,700 | — |
| New Prague | 8,237 | $94,539 | $350,500 | $1,389 |
| Lonsdale | 4,896 | $95,176 | $357,000 | $906 |
| Le Center | 2,513 | $80,673 | $209,600 | $889 |
| Kilkenny | 125 | $48,750 | $158,600 | — |
| Elko New Market | 5,002 | $152,150 | $433,100 | $2,200 |
| Belle Plaine | 7,423 | $99,315 | $318,200 | $1,342 |
| Cleveland | 563 | $85,750 | $212,800 | $817 |
More for people moving to Montgomery
Montgomery ZIP code ›Weather and climate ›Living in Montgomery: FAQ
What is the median household income in Montgomery, MN?
The median household income in Montgomery is $79,432, 11% lower than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Montgomery?
The median home value in Montgomery is $234,700, compared with $329,300 in Minnesota.
How much is rent in Montgomery?
The median gross rent in Montgomery is $974 per month, about 29.6% of household income.
Is Montgomery, MN a good place to live?
Pluses: home values 29% lower than the state median; unemployment of 3%; a poverty rate of 5.8%. Minuses: median household income 11% lower than the Minnesota median; an average commute of 23 minutes.
What is the median age in Montgomery?
The median age in Montgomery is 34.3 years (Minnesota: 38.8).
How long is the commute in Montgomery?
The average commute to work in Montgomery is 23 minutes; 17.5% of workers work from home.
What is the unemployment rate in Montgomery?
The unemployment rate in Montgomery is 3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Montgomery?
17% of adults in Montgomery have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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