Montgomery County, Virginia Housing Market
In Montgomery County, Virginia, the median home value is $304,600, with a median monthly rent of $1,240. This places Montgomery County at #605 nationally out of 3134 counties by median home value, and #54 within Virginia.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,041
- Establishments: 2,455
- BLS QCEW, 2025
Housing Supply
- Single-family: 256
- Multi-family: 72
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 31,200 (avg $93,589)
- Outflow: 28,731 (avg $95,697)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 3 active ZIP codes in Montgomery County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 24087 | 214.0 | -13.32% | 2025 |
| 2 | 24073 | 255.6 | +4.53% | 2025 |
| 3 | 24060 | 253.3 | +4.34% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Montgomery County Compares
| Metric | Montgomery County | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $304,600 | $295,807 | $227,706 |
| Median Gross Rent | $1,240 | $1,169 | $968 |
| Owner Occupancy Rate | 55.3% | 70.8% | 73.3% |
| Price/Rent Ratio | 20.5 | 20.3 | 18.7 |
Market Analysis
The median home value in Montgomery County is 3.0% above the Virginia state average and 33.8% above the U.S. national average. The median rent of $1,240/month is 6.1% above the state average.
With a price-to-rent ratio of 20.5, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Montgomery County has an owner-occupancy rate of 55.3%, compared to 70.8% in Virginia and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Lamoille County | Vermont | $304,700 | $1,160 |
| Shelby County | Kentucky | $304,800 | $1,033 |
| Guadalupe County | Texas | $304,400 | $1,517 |
| Wise County | Texas | $304,900 | $1,299 |
| Camas County | Idaho | $304,000 | $1,000 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Augusta County | $306,100 | $1,136 | 80.2% |
| Caroline County | $307,700 | $1,293 | 82.3% |
| Harrisonburg city | $299,100 | $1,184 | 39.5% |
| Bedford County | $297,400 | $952 | 84.7% |
| Rockingham County | $313,000 | $1,160 | 75.3% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).