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Montgomery County, MD

District 13

RANK #923 / 996 NAT  ·  #17 / 18 MD  ·  POP 1,056,910

1YR FORECAST: -0.3%

5YR OUTLOOK: +10%

Our model projects Montgomery County's housing market at -0.3% over the next year, underperforming most U.S. counties.

[01] Why Montgomery County?

Bethesda, a notable town in Montgomery County, Maryland, is recognized for its dining, shopping, and medical centers. The county itself is located directly north of Washington, D.C., and offers a mix of urban and suburban environments. Commuting to D.C. is possible via the Metro Red Line, Metrobus, and Ride On bus services, with many residents utilizing public transit. The county provides extensive green spaces, including over 400 parks and trails like those found at Rock Creek Regional Park and Sugarloaf Mountain, offering opportunities for hiking, biking, and water activities.

Life in Montgomery County appeals to families, professionals, and retirees due to its quality of life. The Montgomery County Public Schools district is Maryland's largest and is recognized for its educational offerings. The local economy is driven by sectors such as biotechnology, technology, and advanced communications, with significant investment flowing into these areas. The county also has a strong focus on workforce development and sustainable transportation initiatives.

[02] Market Snapshot

Housing Ratio
6.6x

Above national median (4.7x)

GDP Growth
+1.2%

Well below national median

Home Prices
-1.2%

Prices declining

Climate & Terrain
-0.6

Below-average climate & terrain

Price/Rent
22x

Prices detached from rents

Housing is fairly valued at 6.6x relative to local economic output. The typical U.S. county is 4–6x.

[03] Top Employers

  1. 1
    Montgomery County Public Schools (MCPS) Education
    10,000+
  2. 2
    National Institutes of Health (NIH) Government
  3. 3
    Lockheed Martin Technology
  4. 4
    Adventist HealthCare Healthcare
    5,000+
  5. 5
    Marriott International Hospitality
    2,500+
  6. 6
    Holy Cross Hospital Healthcare
  7. 7
    Giant Food Retail
  8. 8
    Kaiser Foundation Health Plan Healthcare
  9. 9
    MedImmune Healthcare
    1,000+
  10. 10
    GEICO Finance

Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.

[04] Home Value Growth vs National

Montgomery County U.S. National

The Numbers

DEMOGRAPHICS
Population
1,056,910
-0.03% YoY
Median Household Income
$125,583
Median Home Value
$588,900
-1.24% 12mo
Median Rent
$1,957
Average Annual Pay
$94,473
+2.6% YoY
Employment
462,298
+0.7% YoY
Income-to-Home-Value
0.2133
Near national average
Migration Inflow
1.66%
of pop. from another state
Bachelor's Degree+
60.0%
of residents (national avg: 33%)

Market Activity

REAL ESTATE
Median Sale Price
$595,000
Days on Market
49
Moderate pace
Months of Supply
2.7
Seller's market
Sale-to-List Ratio
99.7%
Near asking price
Sold Above List
34.5%
Listings w/ Price Drops
17.7%
Building Permits (2024)
3,656
Single-Family Permits
1,491

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Crime & Safety

B+
SAFETY
GRADE
Homicide Rate
2.6
per 100K · nat avg 6.3
Firearm Fatalities
4.8
per 100K · nat avg 14.8
Injury Deaths
47.1
per 100K · nat avg 76.3
vs National Average
Well below national avg
based on homicide rate

Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →

[06] Air Quality

B
AIR QUALITY
GRADE
Median AQI (3yr)
42.3
Good
Good Air Days
73%
783 of 1,073 days
Unhealthy+ Days (3yr)
9
Sensitive groups affected
Primary Pollutant
Ozone
Ground-level ozone
Yearly Trend
2021
42
2022
43
2023
42
Median AQI · lower is better

Source: EPA Air Quality System (2021–2023). Grade based on 3-year average median AQI. Learn about AQI →

[07] Capital Investment

$7,923M
TOTAL
PROJECT AMOUNT STATUS
County-Wide Capital Improvements Program (CIP)
Montgomery County Government
$6,600M Planned
Dickerson Data Center
Undisclosed (Terra Energy owns the former plant site)
$1,000M Proposed
X-Energy Headquarters and Advanced Reactor Development
X-Energy
$223M Under Construction
Brookville Smart Energy Bus Depot Microgrid
AlphaStruxure (Schneider Electric & Carlyle JV)
$50M Operating
Watkins Mill Station (Residential/Mixed-Use)
Pulte Homes
$50M Planned

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[08] Score Breakdown

GDP Growth +1.2% 21 percentile
Population Growth -0.0% 28 percentile
Income Growth +7.0% 18 percentile
Vacancy Rate 1.0% 57 percentile
Home Price Change -1.2% 20 percentile
Rent Growth +0.4% 14 percentile
Price/Rent 22x 4 percentile

Bars show percentile rank among all 996 counties.

[09] Frequently Asked Questions

Is Montgomery County, MD a good place to move to?

The data is not encouraging — Montgomery County scores just 6/100 on the Boom Town Index, ranking #923 of 996 counties. Job growth at +0.7% and median household income of $125,583 reflect an economy that has been contracting or stagnating relative to the rest of the country.

Is Montgomery County affordable?

Montgomery County leans toward the expensive side. A median home value of $588,900 against an income-to-home-value ratio of 0.21 means housing eats a bigger share of local earnings than the national norm. Renters face $1,957/month on average.

Is Montgomery County growing or shrinking?

Population and employment in Montgomery County are both close to flat — population -0.0% YoY and jobs +0.7%. Home values shifted -1.2% over the past 12 months. A steady-state county, neither expanding quickly nor shrinking.

Are many people relocating to Montgomery County?

Not particularly — 1.66% of Montgomery County's population moved in from another state, which is below the national average. Most residents are long-term locals rather than recent transplants.

[10] Similar Counties by Size & Score

Frederick County, MD 5 Charles County, MD 8 Howard County, MD 9 Anne Arundel County, MD 12 Worcester County, MD 12 Prince George's County, MD 12 Gwinnett County, GA 6 El Paso County, CO 6