Affordable & Budget Friendly Cities in Montgomery County MD.

Affordable & Budget Friendly Cities in Montgomery County MD.

The video presents an analysis of the seven most affordable cities in Montgomery County, MD, focusing on average sales prices, days on the market, mortgage payments, and income requirements for single-family homes based on 2023 data.
Gathersburg features homes with an average price of $625,000, requiring an annual income of approximately $167,000 to qualify for a mortgage, with homes staying on the market for an average of 30 days.
Rockville homes have an average price of $622,000, with a needed annual income of about $166,000 to afford the mortgage payments, and homes typically sell within 35 days.
Silver Spring offers more affordable housing with an average price of $496,000 and a required income of $132,000, boasting a proximity to Washington DC and older but well-built homes.
Germantown and Montgomery Village are highlighted for their affordability, with average home prices of $448,000 and $417,000 respectively, requiring lower annual incomes of $119,000 and $111,000.
Damascus and Poolesville round out the list, offering unique living experiences with average home prices of $558,000 and $710,000, and required incomes of $149,000 and $189,000 respectively, emphasizing their distinct characteristics such as proximity to natural landscapes and a more rural living style.

0:00 Introduction to Affordable Living Solutions in Montgomery County
0:36 Gaithersburg, Maryland Overview
2:10 Rockville, Maryland Details
3:45 Silver Spring, Maryland Insights
5:20 Germantown, Maryland Affordability
6:55 Montgomery Village, Maryland Cost Analysis

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