Quick facts: Montgomery, PA

Quick Facts

101.5
Cost of Living
above US average
1,553
Population
131.36
Crime Rate per 1000
above US average
$54,250
Median Income
below US average
$189,900
Median House Price
above US average
$1110.0
Average Rent
below US average
12%
Poverty Rate
above US average
4.5%
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 $54,250.

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Income Needed to Buy

βœ— Stretch
$60k/year
Based on $189,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $60k vs median $54,250
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Income Needed to Rent

βœ“ Affordable
$48k/year
Based on $1110.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($54,250) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Montgomery, PA

Montgomery, Pennsylvania, is a charming borough located in Lycoming County, nestled in the picturesque landscape of north-central Pennsylvania. Established in the early 19th century, it offers a rich historical ambiance with a small-town feel. The borough is situated near the confluence of the Susquehanna River and offers beautiful views, particularly in the fall when the foliage transforms. The community is known for its friendly residents and tight-knit atmosphere, making it a great place for families. Local amenities include parks, schools, and small businesses that cater to the community's needs. Outdoor enthusiasts can explore nearby areas for hiking, fishing, and other recreational activities, thanks to the surrounding natural beauty. Montgomery is home to several historical sites and events that celebrate its heritage, including the annual Montgomery Fireman's Carnival, which brings together locals and visitors alike. The borough’s location also provides easy access to larger urban centers, making it a convenient spot for those who appreciate a quieter lifestyle while staying connected to more bustling areas. Overall, Montgomery embodies the charm of small-town America, offering a serene and welcoming environment.

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