The typical owner-occupied home in Montgomery County is worth about $171,800, 21% below the Indiana median of $218,200 and 48% below the national median of $332,700. Owners pay a median $1,116 a year in property taxes, about 0.65% of their home's value, lower than the Indiana rate of 0.74%. The median household earns $71,479 a year, so the median home costs 2.4 times the median income (3.0 times for Indiana). 80% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Montgomery County at a glance
| Montgomery County | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $171,800 | $218,200 | $332,700 |
| Median property tax paid per year | $1,116 | $1,614 | $3,119 |
| Property tax as a share of value | 0.65% | 0.74% | 0.94% |
| Median household income | $71,479 | $71,957 | $80,734 |
| Homes lived in by their owners | 80% | 71% | 65% |
| Owner homes with a mortgage | 64% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,224 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 17.9% | 18.1% | 21.0% |
| Median rent | $858 | $1,062 | $1,413 |
| Rent as a share of renters' income | 28.0% | 29.1% | 30.6% |
| Median year homes were built | 1967 | 1976 | 1980 |
| Vacant homes | 5.9% | 8.8% | 10.1% |
| Population | 38,312 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Montgomery County
At this week's average 30-year rate of 7.11%, buying the median Montgomery County home of $171,800 with 20% down costs about $1,089 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,375, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $46,680 for the 20%-down payment. That payment is 18% of the median Montgomery County household income of $71,479; at that income and 20% down, the 28% guideline points to a home of about $263,000.
The median rent here is $858 a month, so owning the median home costs about $231 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $34,360 |
|---|---|
| Loan amount | $137,440 |
| Principal and interest | $925 |
| Property taxes (0.65% a year) | $93 |
| Homeowners insurance (our estimate, 0.5% a year) | $72 |
| PMI | $0 |
| Total per month | $1,089 |
Change the numbers in the calculator
| Down payment | $6,013 |
|---|---|
| Loan amount | $168,688 |
| Principal and interest | $1,135 |
| Property taxes (0.65% a year) | $93 |
| Homeowners insurance (our estimate, 0.5% a year) | $72 |
| FHA mortgage insurance | $76 |
| Total per month | $1,375 |
Change the numbers in the calculator
Questions about home buying in Montgomery County
What is the median home value in Montgomery County?
About $171,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Montgomery County?
Homeowners pay a median $1,116 a year, which is about 0.65% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Montgomery County?
For the median home with 20% down at 7.11%, the payment is about $1,089 a month. Keeping that under 28% of gross income takes about $46,680 a year.
More about Montgomery County
- Mortgage Refinance in Montgomery County
- Debt Relief in Montgomery County
- Home Equity Loans in Montgomery County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data