Montgomery County, Virginia 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 40% above the Virginia median More expensive than 74% of counties in Virginia$358,482
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Median rent 22% below the Virginia median$1,239
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Montgomery County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $358,482 | $256,082 | $248,835 |
| Price Trend (Annual %) | 10.6% | 3.5% | 7.5% |
| Median Gross Rent | $1,239 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 4.3% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Montgomery County is about 40% higher than in Virginia. Rent is about 22% lower than the Virginia 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 10.6% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Montgomery County rose about 44.0% between 2015 and 2024, from $860 to $1,239. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 5.0 yearly household incomes in Montgomery County.
Buying the median-priced home in Montgomery County costs roughly 24.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Montgomery County. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Montgomery County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $358,482 | $256,082 | $248,835 |
| Median Household Income | $71,288 | $93,527 | $80,455 |
| Price-to-Income Ratio | 5.0 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Montgomery County rose about 97.0%, while median household income rose about 58.9% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Montgomery County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.8% | 61.5% | 58.5% |
| Rental Rate | 38.6% | 29.8% | 31.2% |
| Vacancy Rate | 13.6% | 8.7% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Montgomery County has a homeownership rate of 47.8%, lower than the Virginia average of 61.5%. Its housing vacancy rate is 13.6%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Montgomery County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1986 | 1982 | 1978 |
| Median Number of Rooms | 5.3 | 6.0 | 5.5 |
The typical housing unit in Montgomery County was built around 1986. On average, 2.4 people live in a home with about 5.3 rooms, staying for about 14.0 years on average.
Montgomery County, VA Housing Compared With Nearby Counties
How Montgomery County, VA compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Montgomery County, VA | 99,089 | $358,482 #1/3 | $1,239 #1/3 | 55.3% #3/3 |
| Roanoke County, VA | 97,092 | $322,244 | $1,223 | 75.7% |
| Pulaski County, VA | 33,685 | $122,130 | $813 | 73.4% |
Frequently Asked Questions
Common questions about the housing market in Montgomery County, Virginia.
What is the median home price in Montgomery County, Virginia?
The median home price in Montgomery County, Virginia is $358,482, higher than the Virginia average of $256,082.
What is the average home price in Montgomery County, Virginia?
The typical home price in Montgomery County, Virginia, reported as the median sale price, is $358,482. 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, Virginia?
The median gross rent in Montgomery County, Virginia is $1,239 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Montgomery County in 2020?
In 2020, the median gross rent in Montgomery County, Virginia was $1,017 per month.
What is the price-to-rent ratio in Montgomery County, Virginia?
The price-to-rent ratio in Montgomery County, Virginia is about 24.1, meaning it would take roughly 24.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Montgomery County.
Are home prices or rent rising faster in Montgomery County, Virginia?
Both home prices and rent are rising in Montgomery County, up about 10.6% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Montgomery County, Virginia?
47.8% of households in Montgomery County, Virginia own their home, lower than the Virginia average of 61.5%.
What is the vacancy rate in Montgomery County, Virginia?
The housing vacancy rate in Montgomery County, Virginia is 13.6%, higher than the Virginia average of 8.7%.
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