Housing
Housing in Montgomery County
Housing is the cornerstone of a thriving community, providing stability for families, attracting workforce talent, and fostering economic growth. For communities like Montgomery County, ensuring access to quality, affordable housing is critical to sustaining our vitality and enhancing our residents' quality of life. Recognizing the importance of this issue, the Carolina Core Region has been proactive in addressing housing challenges by conducting the 2024 Carolina Core Housing Needs Assessment—a comprehensive study of housing needs across 21 counties, including Montgomery.
The assessment highlights the significant demand for diverse housing options in our region and underscores the importance of collaboration to address these challenges. We welcome developers, investors, and stakeholders to join us in meeting the housing needs of our community and shaping a vibrant future for Montgomery County.
Key Findings for Montgomery County:
- Housing Availability: Montgomery County has the highest housing availability rate in the region at 1.8%, but this remains below the healthy market threshold of 2-3%.
- Affordability Challenges: The county's median home value is $164,286, among the lowest in the region, yet affordability remains a concern for lower-income households.
- Housing Stock: Over 28% of renter-occupied and 35% of owner-occupied homes were built before 1970, signaling potential for revitalization and modern development.
Regional Context:
The Carolina Core Region faces a mix of housing opportunities and challenges, including:
- A limited inventory of affordable housing, with significant waitlists for subsidized and tax-credit units.
- Increasing demand for both market-rate and luxury rentals, especially among households earning over $100,000 annually.
- An overall housing supply gap that underscores the need for new residential developments to support economic growth and accommodate changing demographics.
Our Commitment
Montgomery County is dedicated to fostering housing solutions that address local needs while leveraging regional strategies. The insights from this assessment guide our efforts to:
- Collaborate with developers and stakeholders to expand housing options.
- Support policies that improve affordability and access to quality housing.
- Attract residential investment to enhance community vibrancy and economic growth.
To learn more about housing needs in Montgomery County and the Carolina Core Region, download the full 2024 Carolina Core Housing Needs Assessment Report.