Montgomery Village, Maryland Income Statistics
Montgomery Village Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Montgomery Village Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Montgomery Village | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $94,841 | $103,916 | $80,455 |
| Median Personal Income | $62,919 | $75,715 | $60,758 |
| Average Yearly Income Growth | 3.0% | 4.0% | 4.8% |
| Six-Figure Earners | 17.3% | 20.7% | 13.9% |
| $200k+ Households | 17.5% | 20.3% | 13.2% |
The median household income in Montgomery Village is about 9% lower than in Maryland. Income has been growing slower in Montgomery Village (3.0%/yr) than in Maryland (4.0%/yr).
About 17% of adults in Montgomery Village earn six figures ($100,000 or more) a year, lower than the Maryland average of 21%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Montgomery Village, Maryland grew by 17.7% from 2009 to 2024, reaching $94,841 in 2024. That's an average of about 3.0% per year.
Income Inequality and the Gender Pay Gap in Montgomery Village
| Metric | Montgomery Village | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.545 | 0.534 | 0.552 |
| Male Median Income | $63,589 | $84,327 | $69,667 |
| Female Median Income | $69,510 | $72,201 | $56,850 |
| Gender Pay Gap | -9.3% | 14.4% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Montgomery Village, it is 0.545, higher than Maryland's 0.534, so income is less evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Women's income is about 9% more than men's income in Montgomery Village, Maryland. Over a 35-year career, a 9% wage gap accumulates to roughly $207,235 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Montgomery Village, Maryland has narrowed from about 16% to -9% in 2024. In dollar terms, the gap has narrowed by $15,396 since 2009.
Employment
| Metric | Montgomery Village | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.6% | 4.8% | 5.2% |
| Working from Home | 19.0% | 19.3% | 15.0% |
| Commute time (minutes) | 30 | 28 | 22 |
Approximately 942 people are unemployed in Montgomery Village, Maryland.
The average commute time in Montgomery Village is 30 minutes, longer than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Montgomery Village, Maryland has risen from 5.3% to 6.6% in 2024. Over that period the rate peaked at 7.6% in 2021 and fell as low as 5.1% in 2019.
Montgomery Village, MD Wealth Compared With Nearby Cities
How Montgomery Village, MD compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Montgomery Village, MD | 25,048 | $94,841 #2/2 | 3.0%/yr #2/2 | 6.6% #2/2 | 0.545 #2/2 |
| Gaithersburg, MD | 71,117 | $106,919 | 3.6%/yr | 5.2% | 0.540 |
Conclusion
Considering all these factors, Montgomery Village, Maryland has an overall wealth index grade of B, making it about on par with Maryland, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Montgomery Village, Maryland.
How Rich Is Montgomery Village, Maryland?
Montgomery Village has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $94,841, about 9% lower than the Maryland average of $103,916.
How has median household income changed in Montgomery Village, Maryland?
Between 2009 and 2024, the median household income in Montgomery Village, Maryland rose 18%, from $80,591 to $94,841. Over the same years, income here lagged behind Maryland as a whole: +18% against +49%.
What was the median household income in Montgomery Village in 2023?
In 2023, the median household income in Montgomery Village, Maryland was $94,872, up 7% from $88,626 in 2022. The Maryland median that year was $101,974.
What was the median household income in Montgomery Village in 2020?
In 2020, the median household income in Montgomery Village, Maryland was $79,674. By 2024 it had risen 19% to $94,841.
How strong is the job market in Montgomery Village, Maryland?
Unemployment in Montgomery Village, Maryland is 6.6%, well above the Maryland rate of 4.8%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Montgomery Village, Maryland?
The Gini coefficient in Montgomery Village is 0.545. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Montgomery Village, Maryland?
Since 2009, the income gap between men and women in Montgomery Village, Maryland has narrowed from about 16% to -9% in 2024. In dollar terms, the gap has narrowed by $15,396 since 2009.
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