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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 2,445 people, 637 houses or apartments, and a median cost of homes of $465,247, Montgomery real estate is some of the most expensive in Texas, 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 62.66% of the city's housing units. Other types of housing that are prevalent in Montgomery include large apartment complexes or high rise apartments ( 26.36%), mobile homes or trailers ( 6.07%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.52%).
The most prevalent building size and type in Montgomery are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.60% owning and 39.40% renting.
Montgomery homes and real estate are some of the newest in America. 71.96% of Montgomery's housing was built since 2000, making the city 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 ( 19.38%), and before 1939 ( 6.46%). There's also some housing in Montgomery built between 1940-1969 ( 2.20%).
Vacant housing appears to be an issue in Montgomery. Fully 17.70% of the housing stock is classified as vacant. Left unchecked, vacant Montgomery homes and apartments can be a drag on the real estate market, holding Montgomery real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, Montgomery has experienced some of the highest home appreciation rates of any community in the nation. Montgomery real estate appreciated 137.72% over the last ten years, which is an average annual home appreciation rate of 9.05%, putting Montgomery in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Montgomery definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Montgomery's appreciation rate, at 5.59%, has been at or slightly above the national average. In the latest quarter, Montgomery's appreciation rate has been 1.69%, which annualizes to a rate of 6.92%.
Relative to Texas, our data show that Montgomery's latest annual appreciation rate is higher than 80% of the other cities and towns in Texas.
One very important thing to keep in mind is that these are average appreciation rates for the city. 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.
$465,247
for Texas
for nation
637
$1,680 / per month