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These days, finding an affordable place to live in the Montgomery area can be challenging. Home prices in Montgomery are now at a median cost of $178,029, lower than the Alabama average of $228,911.
The average cost of rent is $1,195/mo in Montgomery, primarily driven by the current value of real estate in the Montgomery area. In Montgomery, 45.29% of households rent, and 45.22% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Montgomery is $5,172 per month. Households that rent pay about 23.10% of their income on rent here. Montgomery’s most expensive areas are in the eastern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Pine Level, AL: higher priced homes
- Perrys Mill, AL: higher priced homes
- Snowdoun, AL: equally priced homes
- Pike Road, AL: higher priced homes
- Merry, AL: higher priced homes
- Mount Meigs, AL: higher priced homes
- Hunter, AL: less expensive homes
- Redland, AL: higher priced homes
- Brassell, AL: higher priced homes
- Ware, AL: higher priced homes
Cities with Similar Populations
- Caguas, PR: less expensive homes
- Canton, MI: higher priced homes
- Albany, GA: less expensive homes
- Bellingham, WA: higher priced homes
- Alafaya, FL: higher priced homes
- Alameda, CA: higher priced homes
- Asheville, NC: higher priced homes
- Augusta, GA: higher priced homes
- Baton Rouge, LA: higher priced homes
- Ashburn, VA: higher priced homes
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