Cost of Living in Montgomery, OH

With a cost of living index of 120, Montgomery, OH is a notably expensive place to live. Living here is 20% more expensive than the national average and 43% above the Ohio state average of 78. Montgomery is a smaller community of 10,816 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Montgomery's cost of living. The median monthly rent is $1,507 (14% above the US median of $1,319), and the median home value sits at $505,800 (66% above the national median of $304,900). At current prices, the median home costs roughly 3.4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Montgomery is $148,438, which is 98% higher than the national median of $75,149. Residents spend roughly 12% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

Climate is another factor for anyone considering a move to Montgomery. The area sees an average annual temperature of 54.8°F, with summers averaging 74°F and winters around 35°F. Annual rainfall totals 43.4 inches spread over roughly 132 days.

Everyday prices in the Cincinnati, OH-KY-IN (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.