Montgomery County, North Carolina Housing Market Prices
Montgomery County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 38% below the North Carolina median$172,580
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Median rent 38% below the North Carolina median Cheaper than 83% of counties in North Carolina$766
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Montgomery County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $172,580 | $278,288 | $248,835 |
| Price Trend (Annual %) | 4.8% | 9.3% | 7.5% |
| Median Gross Rent | $766 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 4.1% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Montgomery County is about 38% lower than in North Carolina. Rent is about 38% lower than the North Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Montgomery County, up about 4.8% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Montgomery County rose about 39.6% between 2015 and 2024, from $549 to $766. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Montgomery County.
Buying the median-priced home in Montgomery County costs roughly 18.8 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Montgomery County. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Montgomery County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $172,580 | $278,288 | $248,835 |
| Median Household Income | $56,435 | $72,438 | $80,455 |
| Price-to-Income Ratio | 3.1 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Montgomery County fell about 5.8%, while median household income rose about 60.9% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Montgomery County | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.2% | 58.3% | 58.5% |
| Rental Rate | 17.7% | 29.2% | 31.2% |
| Vacancy Rate | 29.0% | 12.5% | 10.2% |
| Median Tenure (years) | 20.0 | 15.0 | 15.0 |
| Median Year Moved In | 2006 | 2011 | 2011 |
Montgomery County has a homeownership rate of 53.2%, lower than the North Carolina average of 58.3%. Its housing vacancy rate is 29.0%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Montgomery County | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1979 | 1989 | 1978 |
| Median Number of Rooms | 5.2 | 5.6 | 5.5 |
The typical housing unit in Montgomery County was built around 1979. On average, 2.4 people live in a home with about 5.2 rooms, staying for about 20.0 years on average.
Montgomery County, NC Housing Compared With Nearby Counties
Montgomery County, NC is the 5th largest of the 6 counties compared here, 26,004 residents against a local median of 64,639. Montgomery County, NC's median home price, at $172,580, runs 19% below the $212,004 typical of the counties around it.
The counties themselves spread $173,760 on median home price, so Montgomery County, NC sits at one end of an already wide local range rather than apart from it. Montgomery County, NC has the 4th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Montgomery County, NC | 26,004 | $172,580 #4/6 | $766 #5/6 | 75.0% #2/6 |
| Stanly County, NC | 64,639 | $296,127 | $861 | 74.5% |
| Richmond County, NC | 42,335 | $157,265 | $723 | 65.9% |
| Randolph County, NC | 146,354 | $212,004 | $886 | 72.5% |
| Anson County, NC | 22,289 | $122,368 | $814 | 68.5% |
| Moore County, NC | 104,876 | $265,450 | $1,254 | 76.4% |
Frequently Asked Questions
Common questions about the housing market in Montgomery County, North Carolina.
What is the median home price in Montgomery County, North Carolina?
The median home price in Montgomery County, North Carolina is $172,580, lower than the North Carolina average of $278,288.
What is the average home price in Montgomery County, North Carolina?
The typical home price in Montgomery County, North Carolina, reported as the median sale price, is $172,580. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Montgomery County, North Carolina?
The median gross rent in Montgomery County, North Carolina is $766 per month, lower than the North Carolina average of $1,227.
What was the median gross rent in Montgomery County in 2020?
In 2020, the median gross rent in Montgomery County, North Carolina was $584 per month.
What is the price-to-rent ratio in Montgomery County, North Carolina?
The price-to-rent ratio in Montgomery County, North Carolina is about 18.8, meaning it would take roughly 18.8 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Montgomery County.
Are home prices or rent rising faster in Montgomery County, North Carolina?
Both home prices and rent are rising in Montgomery County, up about 4.8% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Montgomery County, North Carolina?
53.2% of households in Montgomery County, North Carolina own their home, lower than the North Carolina average of 58.3%.
What is the vacancy rate in Montgomery County, North Carolina?
The housing vacancy rate in Montgomery County, North Carolina is 29.0%, higher than the North Carolina average of 12.5%.
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