Montgomery County MD Data & Demographics (As of July 1, 2023)
POPULATION
Total Population
1,075,762 (100%)
Population in Households
1,066,844 (99.2%)
Population in Families
870,323 (80.9%)
Population in Group Quarters1
8,918 ( 0.8%)
Population Density
2,190
Diversity Index2
83
INCOME
Median Household Income
$118,285
Average Household Income
$176,367
% of Income for Mortgage4
32%
Per Capita Income
$64,475
Wealth Index5
201
Socioeconomic Status Index6
Moderate (53.7)
HOUSING
Total HU (Housing Units)
411,461 (100%)
Owner Occupied HU
258,246 (62.8%)
Renter Occupied HU
134,727 (32.7%)
Vacant Housing Units
18,488 ( 4.5%)
Median Home Value
$626,062
Average Home Value
$726,732
Housing Affordability Index3
76
HOUSEHOLDS
Total Households
392,973
Average Household Size
2.71
Family Households
261,317
Average Family Size
3.00
NOTES
Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.
GROWTH RATE / YEAR
2020-2023
2023-2028
Population
0.40%
0.26%
Households
0.48%
0.33%
Families
0.30%
Median Household Income
2.48%
Per Capita Income
2.37%
Owner Occupied HU
0.32%
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Montgomery County MD - Peer Comparisons by Rank and Percentile
The table below compares Montgomery County to the other 24 counties / independent cities and county equivalents in Maryland by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.
