Montgomery, IN
Population 1,184 · Indiana
About Montgomery, IN
Montgomery is a small town located in Indiana with a population of 1,184 residents according to the latest US Census Bureau American Community Survey data. The median household income is $93,750 per year, which is 25% above the national median of $75,149. The median age of 46.1 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Montgomery features a median home value of $226,000, which is 8% below the national median of $244,900. This positions Montgomery in a moderately priced market relative to the rest of the country. Median monthly rent is $827, 29% below the national average of $1,163/month. Of the 402 total housing units, 85% are owner-occupied (335 units) and 15% are renter-occupied (57 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Montgomery shows an unemployment rate of 0.2%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Montgomery have an average one-way commute time of 21.9 minutes.
Education & Demographics
16.5% of Montgomery residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.3% White, 0.3% Hispanic or Latino, 1.7% Black or African American, and 0.0% Asian residents, with 0.3% of the population being foreign-born.
How Montgomery Ranks in Indiana
Cost of Living in Montgomery, IN
Compared to national averages, Montgomery has a median household income of $93,750 (25% above the national median of $75,149). Home values average $226,000, which is 8% below the national median. Monthly rent at $827 is 29% below the US average of $1,163. Within Indiana, Montgomery's income is 35% above the state average of $69,330, and home values are 38% above the state median of $163,409.
Why Live in Montgomery, IN?
Montgomery offers a strong local economy with a median household income of $93,750, well above the national average, and affordable housing with a median home value of $226,000, below the US average of $244,900, and rent that’s lower than the national average at $827/month. Additionally, the city features a strong job market with an unemployment rate of just 0.2%, and a low poverty rate of 2.6%, better than the national average, and short commute times averaging just 21.9 minutes.
Montgomery has a population of 1,184 with a median age of 46.1 years. Compare Montgomery with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Montgomery
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Clay City | 1,186 | $68,036 | $86,700 | Compare |
| Ashley | 1,174 | $56,667 | $117,600 | Compare |
| Morocco | 1,169 | $60,000 | $113,500 | Compare |
| Cordry Sweetwater Lakes | 1,200 | $100,167 | $284,200 | Compare |
| Long Beach | 1,201 | $128,750 | $660,300 | Compare |
| Warren | 1,205 | $64,773 | $107,100 | Compare |
| Ladoga | 1,155 | $72,188 | $123,700 | Compare |
| Ogden Dunes | 1,213 | $116,042 | $455,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Montgomery With Other Cities
Frequently Asked Questions about Montgomery
What is the population of Montgomery, IN?
The population of Montgomery, IN is 1,184 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Indiana.
What is the median household income in Montgomery?
The median household income in Montgomery, IN is $93,750 per year, which is 25% above the national median of $75,149.
What is the median home value in Montgomery?
The median home value in Montgomery, IN is $226,000, which is 8% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Montgomery?
The median monthly rent in Montgomery, IN is $827, which is 29% below the national average of $1,163/month.
What is the unemployment rate in Montgomery?
The unemployment rate in Montgomery, IN is 0.2%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Montgomery, IN a good place to live?
Montgomery offers above-average incomes, affordable housing, and a strong job market. With a population of 1,184 and a median age of 46.1, the city appeals to established professionals and retirees.
How educated is Montgomery, IN?
16.5% of residents in Montgomery aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Montgomery?
Key cost-of-living indicators for Montgomery, IN: median home value is $226,000 (8% below national), median rent is $827/month, and median household income is $93,750. The home-value-to-income ratio is 2.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Montgomery?
The poverty rate in Montgomery, IN is 2.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Montgomery, IN?
Montgomery's population is 0.3% White, 0.3% Hispanic or Latino, 1.7% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.3% of residents are foreign-born.