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Cost of Living in Montgomery

Is it better to rent or buy in Montgomery? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$89,456
$2,143/mo

Median in area: $2,143

$287,238

Median in area: $287,238

$57,448

If you Rent

🔑
$2,385 /mo
Base Rent$2,143
Est. Utilities$242
% of Income32.0%
Pre-tax Residual$5,070

If you Buy

🏠
$2,403 /mo
P&I (6.974%)$1,525
Taxes & Ins$636
Est. Utilities$242
% of Income32.2%
Pre-tax Residual$5,052

Cost of Living FAQs

Is it cheaper to rent or buy in Montgomery?›

Based on median housing data, renting is currently more affordable on a monthly basis in Montgomery. The estimated all-in monthly cost for renting is $2,385, while owning a median-priced home with a 20% down payment is roughly $2,403 per month (a difference of $18).

How much do utilities cost in Montgomery?›

The average monthly utility cost (electricity and natural gas) for a typical home in Montgomery is approximately $242. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Montgomery?›

To comfortably afford the median rent and utilities in Montgomery without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $95,400 per year.