Montgomery, IN vs Newburgh, IN

Montgomery, IN and Newburgh, IN have a very similar cost of living, with only a 0.2% difference in their overall index. Montgomery scores 76 while Newburgh scores 76 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Montgomery is $827/month compared to $885/month in Newburgh — a 7% difference. Interestingly, home values tell a different story: while Montgomery has cheaper rent, Newburgh actually has lower median home values ($216,300 vs $226,000).

Median household income in Montgomery is $93,750 compared to $72,431 in Newburgh (+29.4%). While Montgomery is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Montgomery spend roughly 10.6% of their income on rent, less than the 14.7% in Newburgh.