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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Montgomery, IL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Montgomery, IL Housing Market Trends

With a population of 21,799, 6,619 total housing units (homes and apartments), and a median house value of $360,510, Montgomery real estate is some of the most expensive in Illinois, although Montgomery home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Montgomery, accounting for 74.33% of the village's housing units. Other types of housing that are prevalent in Montgomery include row houses and other attached homes ( 17.76%), large apartment complexes or high rise apartments ( 5.60%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.81%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Montgomery. Owner-occupied housing accounts for 76.32% of Montgomery's homes, and 67.40% have either three or four bedrooms, which is average sized relative to America.

Montgomery homes and real estate are some of the newest in America. 67.10% of Montgomery's housing was built since 2000, making the village have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Montgomery real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 17.61%), and between 1940-1969 ( 13.17%). There's also some housing in Montgomery built before 1939 ( 2.12%).

Montgomery Home Appreciation Rates

Appreciation rates for homes in Montgomery have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.13%, which ranks in the top 40% nationwide. This equates to an annual average Montgomery house appreciation rate of 6.75%.

Over the last year, Montgomery appreciation rates have trailed the rest of the nation. In the last twelve months, Montgomery's appreciation rate has been 4.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Montgomery were at 0.21%, which equates to an annual appreciation rate of 0.86%.

Relative to Illinois, our data show that Montgomery's latest annual appreciation rate is higher than 50% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Montgomery differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Montgomery - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Montgomery real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$360,510

Montgomery, IL Home Prices
> $1,291,000
$968,001 - $1,291,000
$645,001 - $968,000
$516,001 - $645,000
$387,001 - $516,000
$258,001 - $387,000
$129,001 - $258,000
$64,001 - $129,000
$0 - $64,000
0.0%
0.0%
0.1%
0.1%
0.2%
0.2%
2.4%
2.4%
24.3%
24.3%
45.6%
45.6%
23.7%
23.7%
2.2%
2.2%
1.6%
1.6%
0% 100.0%
% of Homes
Very High

for Illinois

High

for nation

Number of Homes And Apartments:

6,619

Montgomery Appreciation Rates

Rent & Ownership

Average Market Rent:

$4,141 / per month

Homeownership Rate

Owners
Renters
76.3%
76.3%
23.7%
23.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.2%
3.2%
96.8%
96.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
67.1%
67.1%
17.6%
17.6%
13.2%
13.2%
2.1%
2.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
74.3%
74.3%
17.8%
17.8%
1.8%
1.8%
5.6%
5.6%
0.5%
0.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.3%
0.3%
4.2%
4.2%
23.7%
23.7%
31.3%
31.3%
36.1%
36.1%
4.3%
4.3%
0% 100.0%
% of Homes