Cost of Living in Montgomery, IL
Population 21,205 · Illinois · Data vintage 2023
(100 = US avg)
Montgomery is effectively a commuter community: the average resident spends 36 minutes each way getting to work, well above the 27-minute US median. Housing costs ($271,000 for a typical home) tend to reflect the tradeoff between price and access.
Montgomery sits roughly 5 miles southwest of Aurora — close enough that regional housing and labor patterns are shaped largely by the larger market. Housing prices track closely with Aurora's $260,000 median.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Montgomery
The median home value in Montgomery is $270,700 — 11% below the national median of $305,000. Median rent runs $1,897/month, 44% higher than the national median of $1,314/month. The median household income of $96,985/year is 30% higher than the US median of $74,580. The local unemployment rate is 3.6%, below the national average of 4.8%. Illinois's top state income tax rate is 5.0% and the combined sales tax is 8.7%. Overall, Montgomery has a cost of living index of 111 versus the US average of 100, meaning it is 11% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
Frequently Asked Questions
What is the cost of living in Montgomery, IL?
Montgomery has a cost index of 111 (100 = national average). It is 11% above the national average.
What is average rent in Montgomery, IL?
The median gross rent in Montgomery is $1,897 per month based on 2023 Census data.
What is the average home price in Montgomery?
The median home value in Montgomery is $270,700 according to Zillow and Census data.
What is the median income in Montgomery?
The median household income in Montgomery is $96,985 per year (2023 ACS 5-year estimates).
What is the sales tax in Montgomery, IL?
The combined state and local sales tax rate in Montgomery is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Montgomery, IL affordable?
Montgomery is above average in cost of living, with an index of 111 — about 11% higher than the national average.
Montgomery at a Glance
- Population
- 21,205
- Median Income
- $96,985
- Home Value
- $270,700
- Median Rent
- $1,897/mo
- Unemployment
- 3.6%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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