Counties / Ohio / Montgomery County

Montgomery County, OH

FIPS 39113 · population 536,096 · outside every metro area

$207k
Zillow home value · 2026-06
The numbers

What this county costs and earns

Everything here joins on the county FIPS code, so each figure comes from the agency that publishes it with no name matching in between.

Zillow home value
$207k
▲ 3.8% year over year
Zillow ZHVI · direct
Median asking rent
$1,300
▲ 2.6% year over year
Zillow ZORI · direct
Gross yield
7.5%
annual rent ÷ price, before costs
derived: rent × 12 ÷ price ✓
HUD 2-bed standard
$1,273
market rent is 1.02x the standard
HUD Fair Market Rent · direct
Independent price check

Do two methods point the same way?

Zillow estimates a current home value. FHFA tracks repeat mortgage transactions. Their growth rates should be read side by side, not averaged.

Both annual signals move in the same direction
FHFA five-year cumulative+55.7%not annualized · through 2025
0%ZILLOW ZHVI2026-06+3.8%FHFA HPI2025+5.7%
Annual changes use different methods and may use different periods. The comparison checks direction and magnitude; it does not create a blended estimate. Zillow county ZHVI pulled 2026-07-26; FHFA annual county HPI pulled 2026-07-28.
Owner-reported value$181k
Surveyed gross rent$1,026
Rent burden 30%+46.9%
Median year built1966
Housing composition

Who occupies the stock—and what it is

ACS 2024 5-year
8.5%vacant
252,843estimated housing units
Occupied tenure37.5% renter
owner 62.5%renter 37.5%
Structure mix74.5% single-family
Single-family 74.5%20+ units 5.5%Mobile home 1.3%Other 18.7%
ACS estimates describe the standing housing stock and occupied tenure. They do not measure current listings, transaction prices or asking rents.

Survey source: Census ACS 5-year — county housing value, tenure and stock · ACS 2024 5-year · pulled 2026-07-30. These values describe different housing universes and are not combined into gross yield.

Annual average covered jobs251,948▲ 0.7% from the prior annual release
Covered establishments13,276annual average reporting locations
Average weekly wage$1,226▲ 3.7% from the prior annual release
Largest private supersectorEducation and health services26.9% of disclosed private covered jobs
Local labor base

Jobs, pay and private-sector concentration

2025
0%COVERED JOBS+0.7%WEEKLY WAGE+3.7%Education and health services26.9%
Annual QCEW counts cover jobs located at reporting establishments. The industry share uses disclosed private covered employment; it is not a resident-employment measure or a forecast.

Workplace source: BLS QCEW — county employment and wages · annual county employment and wages 2025 vs 2024 · pulled 2026-07-31. QCEW counts covered jobs located in the county, not employed residents or the metro score’s CES/LAUS series.

County brief

What the local evidence says

01Decision frame

Montgomery County’s decision tension is a supplied 7.53% gross-yield screen versus carrying-cost, demand-depth and flood questions that county aggregates cannot resolve. Zillow’s 2026-06 county median home value of $207,254 and median asking rent of $1,300 per month underpin that pre-cost measure. Income-focused owners should investigate parcel taxes, insurance and rent durability; buyers relying on appreciation or easy resale should be cautious until listing-market evidence is available.

02Housing economics

Those Zillow observations show median value up 3.77% year over year and asking rent up 2.58%. Separately, FHFA’s 2025 annual repeat-transaction HPI rose 5.66% year over year and 55.75% over five years. It points in the same positive direction but is not a dollar home value, and its different vintage and method cannot be blended with Zillow’s change. HUD’s two-bedroom FMR is a payment standard, not an asking-rent estimate. The reported 1.73% effective property-tax rate and $3,127 median annual tax frame carrying costs, but unreported insurance and operating costs prevent a net-return calculation.

03Demand & competition

QCEW’s 2025 annual average covered employment at county workplaces grew 0.74%; it is neither resident employment nor a forecast. Education and health services is the largest disclosed private supersector, not the whole county economy. Tax-return migration is less supportive: net migration was -393, while inbound movers’ average AGI was $8,942 below outbound movers’; neither statistic identifies renters or neighborhood demand. Investors accounted for 10.95% of 6,593 purchases, a defined non-owner buyer presence rather than proof of price support.

04Risk & next checks

Inland flood is the dominant hazard; modeled expected loss equals 0.09% of building value per year, a modeling input rather than a parcel loss estimate. No Realtor.com MLS figures for median listing price (an asking price), active listings (visible supply), days on market (marketing time), or price reductions (seller concessions) are published. That blocks a read on resale liquidity, supply and concession pressure. Next checks are flood-zone and claims records, insurance quotes, lease-level rents, and property-specific taxes; absent financing terms, debt coverage cannot be assessed.

Cities & communities

Where people live within Montgomery County

Census-recognized incorporated places and CDPs that intersect this county. The list does not pretend to include every neighborhood or informal community.

Population scale

Largest Census places

ACS 2024 5-year
Dayton city*136.6KKettering city*57.2KHuber Heights city*43.5KCenterville city*25.2KRiverside city24.4KTrotwood city23KSpringboro city*20KMiamisburg city19.9K
Bars use total place population, not a county-share estimate. An asterisk marks a place that crosses a county line.
Official directory

25 Census places

Population
  1. 01
    Dayton cityIncorporated place · spans 2 counties
    136,579
  2. 02
    Kettering cityIncorporated place · spans 2 counties
    57,206
  3. 03
    Huber Heights cityIncorporated place · spans 2 counties
    43,455
  4. 04
    Centerville cityIncorporated place · spans 2 counties
    25,205
  5. 05
    Riverside cityIncorporated place
    24,435
  6. 06
    Trotwood cityIncorporated place
    23,041
  7. 07
    Springboro cityIncorporated place · spans 2 counties
    19,980
  8. 08
    Miamisburg cityIncorporated place
    19,948
  9. 09
    Vandalia cityIncorporated place
    15,053
  10. 10
    Englewood cityIncorporated place
    13,356
  11. 11
    Clayton cityIncorporated place
    13,277
  12. 12
    West Carrollton cityIncorporated place
    12,976
Show 13 more places
  1. 13
    Shiloh CDPCensus-designated place
    10,526
  2. 14
    Oakwood cityIncorporated place
    9,458
  3. 15
    Union cityIncorporated place · spans 2 counties
    7,037
  4. 16
    Moraine cityIncorporated place
    6,536
  5. 17
    Germantown cityIncorporated place
    5,825
  6. 18
    Brookville cityIncorporated place
    5,779
  7. 19
    Carlisle cityIncorporated place · spans 2 counties
    5,543
  8. 20
    New Lebanon villageIncorporated place
    4,169
  9. 21
    Fort McKinley CDPCensus-designated place
    3,508
  10. 22
    Drexel CDPCensus-designated place
    1,751
  11. 23
    Farmersville villageIncorporated place
    1,079
  12. 24
    Verona villageIncorporated place · spans 2 counties
    653
  13. 25
    Phillipsburg villageIncorporated place
    406

Population is the total place-wide ACS estimate, not an allocated county share. A place crossing a county line is labelled explicitly. Source: Census ACS 5-year — cities and communities · ACS 2024 5-year · pulled 2026-07-30.

Risk, demand and competition

The three things a price does not tell you

01
Risk & carrying costFEMA NRI + Census ACS
Dominant hazardinland flooding

0.095% of building value expected lost per year

Effective property tax1.73%

$3,127 median annual bill

02
DemandIRS SOI household flows
Net migration-393

12,654 in · 13,047 out

Arriving vs leaving income−$8,942

$55,372 arriving · $64,314 leaving

03
CompetitionHMDA financed purchases
Purchases by investors10.9%

722 of 6,593 mortgages

investorother financed
Bear case

What can break the county thesis

  1. Property-specific flood exposure and insurance could materially weaken income after costs.
  2. Unavailable MLS supply, marketing-time and price-reduction data could mask slower resale conditions.
  3. County migration and mover-income patterns may not translate to a specific rental submarket.
Underwriting questions

Before pricing a property

Can the supplied gross yield be treated as net income?

No. It is gross before property taxes, insurance, other operating costs and financing; operating-cost and financing data are not published.

What does HUD Fair Market Rent establish here?

It is a two-bedroom payment standard, not an estimate of county market asking rent.

Why cannot resale liquidity be concluded from this record?

Realtor.com active-listing, days-on-market and price-reduction figures are not published.