Average Rent in Montgomery, MD

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Current Versus Historical Montgomery, MD Rents

Montgomery rentals average $1,840 for a studio rental to $4,000 for a 4-bedroom rental. The median price of all currently available listings is $2,950, or roughly $2 per square feet.
For the apartment units and housing in November 2024, median rents have risen over the last year. Studio rentals prices have increased by $507 (30.24%) year-over-year from $1,675 to $2,182. 1-bedroom rentals prices have increased by $136 (5.63%) year-over-year from $2,424 to $2,560. 2-bedroom rentals prices have increased by $82 (2.59%) year-over-year from $3,162 to $3,244. 3-bedroom rentals prices have increased by $152 (5.14%) year-over-year from $2,948 to $3,100. 4-bedroom rentals prices have increased by $262 (7.20%) year-over-year from $3,633 to $3,895. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 9.16% this month. 1-bedroom rents have gone down by 5.84% this month. 2-bedroom rents have gone down by 5.73% this month. 3-bedroom rents have gone down by 1.06% this month. 4-bedroom rents have gone up by 6.28% this month.
Beds
Price / Sqft
Nov 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $3.52 $2,182 $1,675 (30.24%) $1,773 (23.04%)
1 BR $2.71 $2,560 $2,424 (5.63%) $2,528 (1.25%)
2 BR $2.26 $3,244 $3,162 (2.59%) $3,441 (-5.73%)
3 BR $2.03 $3,100 $2,948 (5.14%) $2,983 (3.91%)
4+ BR $2.15 $3,895 $3,633 (7.20%) $3,349 (16.30%)

Historical Rents in Montgomery, MD

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Montgomery

There are a total of 7 cities nearby Montgomery. The average rent in Montgomery is currently $2,506 per month. A total of 6 cities nearby have an average rent lower than that. Our records show that Baltimore, MD, with an average rent of $1,800, is the most affordable city nearby. In contrast, the most expensive city near Montgomery, MD is Bethesda, MD. Monthly rents here are on average $3,686 per month.

Let's compare Montgomery, MD's rent against other top cities nearby by bedroom size. Typically, rent for studios in Montgomery, MD is 0.54% more affordable than other cities nearby. One bedrooms are about 2.55% more expensive. Two bedrooms in Montgomery, MD are about 8.40% more affordable. Finally, rent for three bedrooms are about 15.32% more affordable. Want more information? Check out the top 7 cities near Montgomery, MD in the following chart.
City Studio 1 Bed 2 Bed All
Baltimore, MD $1,700 $1,300 $1,700 $1,800
Frederick, MD $1,522 $1,400 $1,750 $2,495
Fair Oaks, VA N/A $1,950 $2,430 $2,500
Alexandria, VA $1,850 $2,099 $2,710 $2,506
Arlington, VA $2,088 $2,375 $3,374 $2,753
Washington, DC $1,950 $2,400 $3,119 $2,850
Bethesda, MD $2,216 $2,586 $3,730 $3,686

Top Neighborhoods Near Montgomery

There are a total of 3 neighborhoods in or near Montgomery. Some of these neighborhoods include Van Ness - Forest Hills, Columbia Heights, and Cathedral - Wesley Heights - McLean Gardens. We've included all of these top 3 neighborhoods in or near Montgomery, MD in the following chart.

The average rent for these 3 neighborhoods in or near Montgomery, MD is currently around $3,250 per month. A total of one neighborhood has a lower average rent. Meaning, only two neighborhoods have a higher average rent than $3,250. Interestingly, the neighborhoods' average rent is higher than Montgomery's average rent, which is only $2,950. Out of all the neighborhoods in or near Montgomery, Van Ness - Forest Hills has the most affordable average rent at $2,304 per month. Whereas, at $3,500 average rent per month, Cathedral - Wesley Heights - McLean Gardens is the most expensive neighborhood in or near Montgomery. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
Van Ness - Forest Hills, Washington, DC $1,669 $2,300 $3,263 $2,304
Columbia Heights, Washington, DC N/A $2,200 $3,048 $3,250
Cathedral - Wesley Heights - McLean Gardens, Washington, DC $2,050 $2,901 $4,366 $3,500

Top Counties Near Montgomery

There are a total of 3 counties located by Montgomery, MD. Some of these counties include Alexandria, VA, Frederick, MD, and Prince George's, MD. The average rent for rentals in these counties is $2,698. That's roughly around $2 per sqft. A total of 12 counties have a lower average rent. The county that is the most affordable is Washington, MD. It's average rent per month is $1,695. Vice versa, with an average rent of $3,200, Loudoun, VA is the most expensive county by Montgomery, MD.

Typically, rent for studios in Montgomery, MD is 23.32% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Montgomery, MD is 25.02% more expensive than other counties nearby. Finally, rent for two bedrooms in Montgomery, MD is 12.00% more expensive than other counties nearby. We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All
Alexandria, VA $1,850 $2,099 $2,710 $2,506
Frederick, MD $1,522 $1,400 $1,768 $2,600
Prince George's, MD $1,300 $1,525 $2,025 $2,695
Prince William, VA N/A $1,725 $2,200 $2,700
Arlington, VA $2,088 $2,375 $3,374 $2,753
Anne Arundel, MD N/A $1,925 $2,250 $2,800
Howard, MD N/A $1,593 $2,200 $2,850
District of Columbia, DC $1,950 $2,400 $3,119 $2,850
Fairfax, VA $1,538 $1,950 $2,400 $3,025
Loudoun, VA N/A $1,638 $2,300 $3,200

Top Zipcodes Near Montgomery

There are a total of 5 zipcodes in or near Montgomery, MD. The average rent for all of these zipcodes is $2,498. A total of 5 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 21230, Baltimore, MD at $2,275 per month. In comparison, the zipcode with the most expensive average rent of $2,779 per month is 22314, Alexandria, VA.

Studios in these zipcodes have an average rent of $1,676. That's at least $4 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Montgomery, MD is $2,206 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $3,223 per month. Which comes out to $3 per sqft. The following chart includes the top 5 zipcodes in Montgomery, MD. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
22201, Arlington, VA $2,035 $2,291 $3,417 $2,498
22314, Alexandria, VA N/A $2,206 $3,223 $2,779
20008, Washington, DC $1,676 $2,402 $3,412 $2,474
21230, Baltimore, MD N/A $1,800 $2,100 $2,275
22030, Fairfax County, VA $2,676 $1,950 $2,430 $2,734

Frequently Asked Questions - Montgomery Average Rents

What is the average rent price in Montgomery, MD?
The average monthly rental price for Montgomery, MD apartments for rent is approximately $2,950. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do Montgomery, MD rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Montgomery, MD.
How much is a studio apartment in Montgomery, MD?
The average monthly rental price for studio apartments is $1,840 and an average price per square feet of $3.52. There are a total of 13 studio apartment listings currently available for rent in Montgomery.
How much is a one bedroom apartment in Montgomery, MD?
The average monthly rental price for one bedroom apartments is $2,154 and an average price per square feet of $2.71. There are a total of 107 one bedroom apartment listings currently available for rent in Montgomery.
How much is a two bedroom apartment in Montgomery, MD?
The average monthly rental price for two bedroom apartments is $2,500 and an average price per square feet of $2.26. There are a total of 129 two bedroom apartment listings currently available for rent in Montgomery.
How have rent prices in Montgomery, MD changed this year?
Rent prices for rentals in Montgomery, MD can fluctuate yearly. Specifically, studio rental prices have changed by 0.30%, one bedroom rental prices have changed by 0.06%, two bedroom rental prices have changed by 0.03%, and three bedroom rental prices have changed by 0.05% year-over-year.
What is a reasonable rent price in Montgomery, MD?
A reasonable rent price in Montgomery, MD is around $2,360/month. You can search for these reasonably priced rental listings on RentHop.
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