salaryRent is higher than in 73% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are long, about 33.4 minutes each way. Most homes (79.3%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $84,040 a year. That is $40 an hour at a full-time job.
Is rent cheaper than other Illinois cities?
No. Rent here is more expensive than in most of Illinois. It is number 285 of 334 cities from cheapest to most expensive.
How much do households earn in Montgomery?
Share of households by yearly income. 32.9% of households earn $100,000 or more.
Rent by apartment size in Montgomery
| Size | Montgomery | U.S. average |
|---|---|---|
| Studio | $1,775 | $1,338 |
| 1 bedroom | $1,500 | $1,324 |
| 2 bedrooms | $1,762 | $1,509 |
| 3 bedrooms | $3,012 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Montgomery overall?
Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Montgomery, so the Illinois figure is shown.
Taxes and bills in Montgomery
Life in Montgomery
Is it cheaper to rent or buy in Montgomery?
About the same. Renting and owning cost within $23 of each other each month.
Owning assumes a typical $299,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $29,950 for the down payment.
Frequently asked questions
What is the average rent in Montgomery, IL?
Renting in Montgomery costs a median of about $2,101 a month in 2026, including utilities. The Illinois median is $1,517.
How much do I need to make to live in Montgomery?
To keep rent under 30% of income, you need about $84,040 a year, or $40 an hour at a full-time job.
Is Montgomery cheap or expensive?
Montgomery is rated OK: rent takes 22.5% of the typical household income of $111,877. It ranks 285th cheapest of 334 Illinois cities we track.
How much are property taxes in Montgomery?
The median homeowner in Montgomery pays $7,183 a year in property taxes, about 2.40% of the median home value.
Is Montgomery more expensive than the national average?
Overall prices in Illinois are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Montgomery?
The median home value in Montgomery is $299,500, about 2.7 times the typical yearly household income.
21,515 people live in Montgomery. Numbers are typical (middle) values.