Montgomery, MN
Population 3,366 · Minnesota
About Montgomery, MN
Montgomery is a small town located in Minnesota with a population of 3,366 residents according to the latest US Census Bureau American Community Survey data. The median household income is $74,018 per year, which is 2% below the national median of $75,149. The median age of 39.1 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Montgomery features a median home value of $218,900, which is 11% 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 $896, 23% below the national average of $1,163/month. Of the 1,467 total housing units, 81% are owner-occupied (1,132 units) and 19% are renter-occupied (267 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Montgomery shows an unemployment rate of 3.5%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 5.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Montgomery have an average one-way commute time of 23.4 minutes.
Education & Demographics
20.3% 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 2.7% White, 2.6% Hispanic or Latino, 0.0% Black or African American, and 0.9% Asian residents, with 2.1% of the population being foreign-born.
Cost of Living in Montgomery, MN
Compared to national averages, Montgomery has a median household income of $74,018 (2% below the national median of $75,149). Home values average $218,900, which is 11% below the national median. Monthly rent at $896 is 23% below the US average of $1,163. Within Minnesota, Montgomery's income is 0% below the state average of $74,221, and home values are 7% above the state median of $204,472.
Why Live in Montgomery, MN?
Montgomery offers affordable housing with a median home value of $218,900, below the US average of $244,900, and rent that’s lower than the national average at $896/month, and a strong job market with an unemployment rate of just 3.5%. Additionally, the city features a low poverty rate of 5.8%, better than the national average, and short commute times averaging just 23.4 minutes.
Potential considerations include median household income ($74,018) that falls below the national average. However, Montgomery’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Montgomery has a population of 3,366 with a median age of 39.1 years. Compare Montgomery with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Montgomery
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Annandale | 3,365 | $50,536 | $195,100 | Compare |
| Breckenridge | 3,369 | $57,344 | $142,000 | Compare |
| Pine City | 3,339 | $51,654 | $181,800 | Compare |
| Jackson | 3,298 | $57,328 | $118,900 | Compare |
| Moose Lake | 3,297 | $61,576 | $205,000 | Compare |
| Sleepy Eye | 3,438 | $64,811 | $138,500 | Compare |
| Benson | 3,449 | $51,124 | $146,100 | Compare |
| Eagle Lake | 3,268 | $97,161 | $249,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
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, MN?
The population of Montgomery, MN is 3,366 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Minnesota.
What is the median household income in Montgomery?
The median household income in Montgomery, MN is $74,018 per year, which is 2% below the national median of $75,149.
What is the median home value in Montgomery?
The median home value in Montgomery, MN is $218,900, which is 11% 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, MN is $896, which is 23% below the national average of $1,163/month.
What is the unemployment rate in Montgomery?
The unemployment rate in Montgomery, MN is 3.5%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Montgomery, MN a good place to live?
Montgomery offers a moderate cost of living, affordable housing, and a strong job market. With a population of 3,366 and a median age of 39.1, the city appeals to a broad range of residents.
How educated is Montgomery, MN?
20.3% 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, MN: median home value is $218,900 (11% below national), median rent is $896/month, and median household income is $74,018. The home-value-to-income ratio is 3.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Montgomery?
The poverty rate in Montgomery, MN is 5.8%, 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, MN?
Montgomery's population is 2.7% White, 2.6% Hispanic or Latino, 0.0% Black or African American, 0.9% Asian, and 1.0% two or more races. 2.1% of residents are foreign-born.