Montgomery County, Virginia Income Statistics
Montgomery County Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
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D
Montgomery County Well below averageLess wealthy than 72% of counties in Virginia
Source: Map AI Methodology
Income Statistics Overview
| Metric | Montgomery County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $71,288 | $93,527 | $80,455 |
| Median Personal Income | $59,517 | $68,139 | $60,758 |
| Average Yearly Income Growth | 4.7% | 4.3% | 4.8% |
| Six-Figure Earners | 11.2% | 18.3% | 13.9% |
| $200k+ Households | 12.0% | 17.7% | 13.2% |
The median household income in Montgomery County is about 24% lower than in Virginia. Income has been growing faster in Montgomery County (4.7%/yr) than in Virginia (4.3%/yr).
About 11% of adults in Montgomery County earn six figures ($100,000 or more) a year, lower than the Virginia average of 18%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Montgomery County, Virginia grew by 69.2% from 2009 to 2024, reaching $71,288 in 2024. That's an average of about 4.7% per year.
Income Inequality and the Gender Pay Gap in Montgomery County
| Metric | Montgomery County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.623 | 0.544 | 0.552 |
| Male Median Income | $67,263 | $78,585 | $69,667 |
| Female Median Income | $56,028 | $62,626 | $56,850 |
| Gender Pay Gap | 16.7% | 20.3% | 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 County, it is 0.623, higher than Virginia's 0.544, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 20% more than women's income in Montgomery County, Virginia. Over a 35-year career, a 20% wage gap accumulates to roughly $393,225 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Montgomery County, Virginia has narrowed from about 24% to 17% in 2024. Over that period the gap was widest at 25% in 2012, and was narrowest at 14% in 2022. In dollar terms, the gap has widened by $570 since 2009.
Employment
| Metric | Montgomery County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.9% | 4.1% | 5.2% |
| Working from Home | 14.0% | 18.3% | 15.0% |
| Commute time (minutes) | 16 | 23 | 22 |
Approximately 1,428 people are unemployed in Montgomery County, Virginia.
The average commute time in Montgomery County is 16 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Montgomery County, Virginia has fallen from 6.4% to 2.9% in 2024.
Montgomery County, VA Wealth Compared With Nearby Counties
Montgomery County, VA is the largest of the 5 counties compared here, 99,089 residents against a local median of 25,121. Montgomery County, VA's income inequality, at 0.623, runs 19% above the 0.522 typical of the counties around it. That is the weaker end of the local range on this measure.
Income growth tells the same story from another angle: 4.7%/yr against a local median of 4.1%/yr, 15% above it. The picture is mixed rather than uniform: income growth runs ahead of the neighbourhood while income inequality runs behind it, so Montgomery County, VA is trading one against the other rather than simply out-performing what surrounds it. The counties themselves sit within 0.029 of each other on income inequality, a tighter band than the gap between any of them and Montgomery County, VA, which makes it a genuine outlier here rather than one end of a wide local spread. Montgomery County, VA has the 5th lowest income inequality of the 5 areas compared here.
| 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 County, VA | 99,089 | $71,288 #2/5 | 4.7%/yr #1/5 | 2.9% #3/5 | 0.623 #5/5 |
| Floyd County, VA | 15,593 | $64,159 | 3.9%/yr | 3.6% | 0.527 |
| Roanoke County, VA | 97,092 | $83,514 | 4.2%/yr | 2.7% | 0.521 |
| Giles County, VA | 16,557 | $67,311 | 4.4%/yr | 2.1% | 0.498 |
| Pulaski County, VA | 33,685 | $63,216 | 3.1%/yr | 3.2% | 0.522 |
Conclusion
Considering all these factors, Montgomery County, Virginia has an overall wealth index grade of D, making it somewhat worse than Virginia, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Montgomery County, Virginia.
How Rich Is Montgomery County, Virginia?
Montgomery County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $71,288, about 24% lower than the Virginia average of $93,527.
How has median household income changed in Montgomery County, Virginia?
Between 2009 and 2024, the median household income in Montgomery County, Virginia rose 69%, from $42,129 to $71,288. Over the same years, income here outpaced Virginia as a whole: +69% against +55%.
What was the median household income in Montgomery County in 2023?
In 2023, the median household income in Montgomery County, Virginia was $69,145, up 8% from $64,269 in 2022. The Virginia median that year was $91,420.
What was the median household income in Montgomery County in 2020?
In 2020, the median household income in Montgomery County, Virginia was $59,118. By 2024 it had risen 21% to $71,288.
How strong is the job market in Montgomery County, Virginia?
Unemployment in Montgomery County, Virginia is only 2.9%, well below the Virginia rate of 4.1%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Montgomery County, Virginia?
The Gini coefficient in Montgomery County is 0.623. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Montgomery County, Virginia?
Since 2009, the income gap between men and women in Montgomery County, Virginia has narrowed from about 24% to 17% in 2024. Over that period the gap was widest at 25% in 2012, and was narrowest at 14% in 2022. In dollar terms, the gap has widened by $570 since 2009.
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