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City Report · IL

Montgomery

Pop. 21,515·42nd most expensive in Illinois·Rental market data updated monthly for Montgomery, IL
Median rent (all units)
$2,188/mo
Year-over-Year
Stable
Month-over-Month
-3.9%
vs US Median
+$226
Falling (Monthly)
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Most AffordableMost Expensive
Montgomery · $2,188
More expensive than 69% of US cities · National median $1,962/mo
Affordability
25% of income
AFFORDABLE
0%30% benchmark60%+

At $2,188/mo, rent takes about 25% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$88,000/yr
Local median income
$103,734/yr
Based on the 30%-of-income rule using Montgomery's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,605
1 BR
$1,356
2 BR
$1,593
3 BR
$2,724
Fair Market Rent (HUD)
$1,593/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,188 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$26,256/yr
At $2,188/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+0.0% YoY, -3.9% MoM), not inventory.
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Demographics

Who lives here

Montgomery, IL is majority owner-occupied, has a large share of families with children, has a median income above the national average, 28.7% of residents hold a bachelor's degree or higher.

Population
21,515
Median income
$103,734
Median age
35.3
Renters
20.7%
Age distribution
28.5%
20.9%
28.9%
Under 1828.5%
18–3420.9%
35–5428.9%
55–6411%
65+10.8%
Gender
52.9%
47.1%
Male52.9%
Female47.1%
Race & ethnicity
57.9%
32.1%
White57.9%
Black8%
Hispanic32.1%
Asian2.3%
Education (25+)
28.5%
33.9%
28.7%
No HS diploma8.9%
HS diploma28.5%
Some college33.9%
Bachelor's+28.7%
Housing tenure
79.3%
20.7%
Owner79.3%
Renter20.7%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Montgomery, IL has changed in 5 years

Income
$100,911 → $103,734
up 2.8%
Population
20,084 → 21,515
up 7.1%
Renter share
20.3% → 20.7%
+0.4 pts
Bachelor's+
32.2% → 28.7%
-3.5 pts
Median age
30.8 → 35.3
+4.5 yrs

Median household income climbed from $100,911 to $103,734 between 2021 and 2024, a 2.8% shift. Census counts show Montgomery, IL adding about 1,431 residents over the five-year window, up 7.1% on net. Bachelor's-degree-or-higher attainment moved from 32.2% to 28.7% across the same window.

Community

Discussions about Montgomery

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View Montgomery rent history (2015–2026) →
Salary vs rent

Can you afford rent in Montgomery on your salary?

At $2,188/mo, how Montgomery rent compares to typical pay (30% rule).

By apartment size

Montgomery rent by bedroom count

Median rent for each apartment size in Montgomery. Click any size for full breakdown.

Local insights

Tips for renters in Montgomery

About renting in Montgomery, IL

Last updated: August 17, 2026

The median rent in Montgomery is $2,188/mo as of August 2026. A studio apartment averages $1,605/mo while a 2-bedroom runs $1,593/mo. One-bedroom apartments average $1,356/mo and 3-bedroom units go for $2,724/mo.

At 25% of local median household income ($103,734/yr), Montgomery ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Montgomery an affordable city for renters?

Montgomery is considered affordable for renters. At $2,188/mo, rent takes approximately 25% of the local median household income ($103,734/yr). The standard benchmark is 30%. Montgomery falls comfortably within that range.

How much income do you need to rent in Montgomery?

To keep rent at or below 30% of gross income, you would need to earn at least $88,000/year (~$42/hour full-time) to afford the median rent of $2,188/mo in Montgomery. The local median household income is $103,734/yr, meaning the typical Montgomery household meets that threshold.

Is rent going up or down in Montgomery?

Rent in Montgomery has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Montgomery rent compare to other cities in Illinois?

Montgomery is one of the pricier cities in Illinois for rent, ranking #42 out of 142 tracked cities at $2,188/mo.

Which nearby cities are cheaper to rent in than Montgomery?

Several nearby cities have lower median rents than Montgomery ($2,188/mo): Bethalto ($1,097/mo), Springfield ($1,151/mo), Highland ($1,200/mo).

What percentage of Montgomery residents rent vs. own?

According to Census data, approximately 20.7% of Montgomery households are renters, while 79.3% are owner-occupied. Montgomery leans toward homeownership, which can mean a smaller rental inventory.

How does Montgomery rent compare to the national average?

Montgomery's median rent of $2,188/mo is $226 (12%) above the US national median of $1,962/mo. Within Illinois, it ranks #42 out of 142 tracked cities.
Income Affordability
25%
AFFORDABLE

At $2,188/mo, rent takes ~25% of Montgomery's median household income ($103,734/yr). The standard benchmark is 30%.

Montgomery 25%Benchmark 30%
State income tax4.95%
Run the Montgomery affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Montgomery, IL

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