Montgomery County, MD
FIPS: 24031
Median HAM
12.4x
High
Jul 2023
Minimum HAM
23.2x
Very High
Jan 2026
HAM Burden
108%
Very High
Dec 2025
Local minimum wage note: Montgomery County has a local minimum wage of $17.15/hr (state rate used in calculation: $15.00/hr)
Not enough historical data to show a trend chart for this county.
Economic Profile
BEA GDP data (2024)
GDP Per Capita
$110,530
National avg: ~$82,000
Total GDP
$117.4B
Thousands of current $
Population
1,062,061
2020 Census
Top Industries by GDP
Government and government enterprises20.1%
Real estate and rental and leasing16.1%
Professional, scientific, and technical services14.5%
Health care and social assistance7.3%
Manufacturing6.5%
Data Breakdown
Median HAM
Data as of Jul 2023
Median Home Price
$615,200
Census ACS
Gross Median Income
$63,375
Census ACS
Net Median Income
$49,575
Calculated
Median HAM
12.41x
Minimum HAM
Data as of Jan 2026
Median Home Price
$591,750
Redfin
Min Wage (Hourly)
$15.00/hr
State labor data
Net Min Wage Income
$25,493
Calculated
Minimum HAM
23.21x
HAM Burden
Data as of Dec 2025
Monthly Rent
$2,296
Zillow ZORI
Min Wage (Hourly)
$15.00/hr
State labor data
Monthly Net Min Wage
$2,124
Calculated
HAM Burden
108.1%
Methodology: HAM = Home Price / Net Annual Income. Net income assumes single filer, standard deduction, 2,080 hrs/yr for minimum wage. Federal + state tax + FICA deducted. Home price source priority: Zillow ZHVI > Redfin > Census ACS.