Total monthly cost of ownership
Cost to Own a Home in Montgomery, Ohio
A $506,000 home here costs
$4,143per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,601. The real number is $1,542 higher every month — 59% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Montgomery against Hamilton County and Ohio
| Measure | Montgomery | Hamilton County |
|---|---|---|
| Median home value | $505,800 | $225,700 |
| Median property tax | $8,261 | $3,461 |
| Effective tax rate | 1.633% | 1.533% |
| Median gross rent | $1,507 | $1,005 |
| Population | 10,816 | 827,878 |
The weather behind that power bill
Montgomery sits in Hamilton County, which averages a high of 86.6°F in its hottest month and a low of 23.6°F in its coldest, with 43.4" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,126 cooling and 4,804 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Hamilton County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hamilton County
Common questions
How much does it cost to own a home in Montgomery?
A $506,000 home in Montgomery, Ohio costs approximately $4,143 per month with 20% down at 6.66%. That is $2,601 principal and interest, $689 property tax, $188 homeowners insurance, $243 utilities and $422 set aside for maintenance.
What is the property tax rate in Montgomery?
Montgomery has an effective property tax rate of 1.633%, based on a median home value of $505,800 and median real estate taxes of $8,261. That is higher than the Hamilton County average of 1.533%.
What is the average home price in Montgomery?
The median owner-occupied home value in Montgomery, Ohio is $505,800, against $225,700 across Hamilton County.
Is it cheaper to rent or buy in Montgomery?
Median gross rent in Montgomery is $1,507 a month, against $4,143 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Montgomery — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Ohio.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.