Quick facts: Montgomery, NY

Quick Facts

113.7
Cost of Living
above US average
49,623
Population
2.48
Crime Rate per 1000
below US average
$58,033
Median Income
below US average
$479,900
Median House Price
above US average
$2800.0
Average Rent
above US average
10%
Poverty Rate
below US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $58,033.

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Income Needed to Buy

βœ— Stretch
$151k/year
Based on $479,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $151k vs median $58,033
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Income Needed to Rent

⚠ Stretch
$120k/year
Based on $2800.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $120k vs median $58,033
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Montgomery, NY

Montgomery, NY, is a charming village located in Orange County, situated within the picturesque Hudson Valley region. Known for its tranquil atmosphere, Montgomery features a blend of rural charm and suburban development. The village is rich in history, with several buildings dating back to the 18th and 19th centuries, contributing to its quaint, small-town character. Outdoor enthusiasts can enjoy the surrounding natural beauty, including parks and recreational areas. The Wallkill River runs nearby, offering opportunities for fishing, kayaking, and scenic walks. Montgomery is also close to the Shawangunk Mountains and the Hudson River, perfect for hiking and enjoying nature. The community is characterized by its friendly atmosphere, with local shops, restaurants, and events fostering a sense of camaraderie among residents. Montgomery's location provides convenient access to larger cities, including Newburgh and Poughkeepsie, making it an appealing option for commuters while retaining its idyllic lifestyle. Overall, Montgomery, NY, is a delightful place that illustrates the beauty of small-town living combined with easy accessibility to urban amenities.

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