Cost of Living in Montgomery, IN

With a cost of living index of 76, Montgomery, IN is a very affordable place to live. Living here is 24% cheaper than the national average and in line with the Indiana state average. Montgomery is a small community of 1,184 residents.

Housing costs are the biggest factor in Montgomery's cost of living. The median monthly rent is $827 (37% below the US median of $1,319), and the median home value sits at $226,000 (26% below the national median of $304,900). At current prices, the median home costs roughly 2.4x the median household income — well within traditional affordability guidelines.

The median household income in Montgomery is $93,750, which is 25% higher than the national median of $75,149. Residents spend roughly 11% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.