Housing affordability · NY · 2024
Montgomery Housing Affordability
21st cheapest of 62 NY counties by price-to-income ratio · 793rd of 3,216 nationally · tier rated on the national scale
Montgomery at a glance
Montgomery is among the more accessible housing markets in New York on both ownership and rental measures — home prices relative to income sit below the state median at 2.4×, and renters face a lower-than-average cost burden.
At Montgomery's median household income of $64,943, a renter paying the median monthly rent of $940 would commit 17% of gross annual income to housing — below the 30% threshold widely used to define cost burden.
41% of Montgomery renters spend more than 30% of their income on housing — the share of the renter population classified as cost-burdened.
For owner-occupied households, 12% spend more than 30% of their income on housing costs — below the NY rate of 19%.
Montgomery FAQ
What is the median home price in Montgomery?
The median home value in Montgomery, NY is $157,500 (2024 ACS 5-year estimate). This is 63% below the New York state median of $423,800.
Is Montgomery an affordable place to buy a home?
Montgomery is rated Affordable on the USInsights affordability scale. The price-to-income ratio is 2.4×, meaning the median home costs roughly 2.4 years of median household income ($64,943). Under 3.5× is generally considered affordable.
What is the average rent in Montgomery?
The median gross rent in Montgomery is $940 per month (2024 ACS 5-year estimate). 41% of renters spend more than 30% of their income on housing. The New York state median is $1,621.
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