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Montgomery, Minnesota

Last updated: 2024 BLS data · Page refreshed:

City Profile — Demographics, Income, Education & Housing
Data: U.S. Census Bureau, American Community Survey 2024 5-Year Estimates
3,434
Population
$79,432
Median Income
$234,700
Home Value
34.3
Median Age

Demographics

Montgomery has a population of 3,434 with a median age of 34.3. Here is the racial and ethnic breakdown of the population:

White
93.9%
Hispanic
7.3%
Demographic Value
Total Population3,434
Median Age34.3
White93.9%
Black or African American0.5%
Hispanic or Latino7.3%
Montgomery, Minnesota — racial composition (Census ACS 2024)Donut chart of 3 segments totaling 102.White: 92.3%Hispanic/Latino: 7.2%Other: 0.5%3,434PopulationWhiteWhite92.3%Hispanic/LatinoHispanic/Latino7.2%OtherOther0.5%

Income & Economy

The median household income in Montgomery is $79,432, which is 1.5% below the national median of $80,610. The per capita income is $38,231. The poverty rate is 5.8%.

$79,432
Median Household Income
$38,231
Per Capita Income
5.8%
Poverty Rate

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Education

In Montgomery, 94.8% of residents age 25+ have a high school diploma or higher, and 17.0% hold a bachelor's degree or higher (3.7% with a graduate or professional degree).

HS Diploma+
94.8%
Bachelor's+
17.0%
Graduate+
3.7%
Education Level % of Adults (25+)
High School Diploma or Higher94.8%
Bachelor's Degree or Higher17.0%
Graduate or Professional Degree3.7%

Housing

The median home value in Montgomery is $234,700, below the national median of $303,400. The median monthly rent is $974. The homeownership rate is 74.8%.

$234,700
Median Home Value
$974/mo
Median Rent
74.8%
Homeownership Rate
Housing Metric Value
Median Home Value$234,700
Median Monthly Rent$974
Homeownership Rate74.8%
Vacancy Rate2.9%

Salaries in Minnesota

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Frequently Asked Questions

What is the population of Montgomery, Minnesota?
The population of Montgomery, Minnesota is 3,434 according to U.S. Census Bureau ACS 2024 5-Year Estimates.
What is the median household income in Montgomery, Minnesota?
The median household income in Montgomery, Minnesota is $79,432. This is 1.5% below the national median of $80,610.
What is the median home value in Montgomery, Minnesota?
The median home value in Montgomery, Minnesota is $234,700. The median monthly rent is $974.
What percentage of people in Montgomery have a college degree?
In Montgomery, Minnesota, 17.0% of adults age 25 and older hold a bachelor's degree or higher, and 94.8% have a high school diploma or higher.
Is Montgomery, Minnesota an affordable place to live?
The home price-to-income ratio in Montgomery, Minnesota is 3.0x (median home value $234,700 vs. median income $79,432), making it relatively affordable by that measure. A ratio under 4.0 is generally considered affordable.

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