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Montgomery

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General Demographics

Total Population, 2023
26,0851
Population Change, July 2022 - July 2023
2441
Projected 2050 Population
25,5242
Under 18 Years Old
5,3801
Age 18-64 Years
14,7711
Age 65+ Years
5,9341
Median Age
43.63

Race / Ethnicity 4

White
62.8%3
Black/African American
16.4%3
Native American
0.4%3
Asian/Pacific Islander
1.6%3
Hispanic/Latino
15.5%3
Multi-Racial
3.0%3
Other Single Race
0.4%3
Sources

Financial Stability

Residents Below Federal Poverty Level, 2023
15.6%5
Median Household Income, 2023
$55,0055
Sources

Housing

Cost-Burdened Households (Spend 30% of Household Income on Housing)
21.5%6
Typical Home Value (July, 2024)
$221,2007
Median Gross Rent, 2 Bedroom Unit
$6856
Sources

Education

4-Year High School Graduation Rate
94.5%8
Postsecondary Enrollment
44%8
Postsecondary Attainment (25-44 Year Olds With a Postsecondary Degree/Credential)
37.7%8
Sources

Employment

2024 County Economic Distress Tier
19
Total Workforce Employed, 2023 Average
10,82210
Total Workforce Unemployed, 2023 Average
40710
Average Weekly Wage, 2023
$91611
Residents Working in Home County
56.7%12
Labor Force Participation Rate
53.0%12
Unemployment Rate (Annual Average), 2023
3.6%10
Annual Pre-Tax Living Wage - 2 Adults (1 working), 1 Child Household (Feb, 2024)
$65,10813
Average Employment Change, 2013-23
26 (0% Growth)11
Gross Domestic Product, 2023 (Thousands of Dollars)
$1,425,97214
Top Industry By Employment, 2023
Manufacturing (2,892 employees)11
Top Employer in County, 2023
Montgomery County Board Of Education (500-999 employees)11
Sources

Health

Residents Uninsured
13.1%15
County Health Outcomes Rank
8316
Food Insecurity Rate, 2022
16.0%17
Primary Care Physicians Per 10K Residents, 2023
2.718
Overdose Deaths Per 100 Thousand Residents, 2022
65.819
Life Expectancy (Years)
73.120
Sources

Broadband

Households Without Computing Device (Laptop, Smartphone, etc.)
8.2%21
Broadband Availability Index Score, 2021
19.622
Households without an Internet Subscription
21.0%21
Sources

Infrastructure

Designation of Water/Wastewater System as Distressed (Aug, 2024)
Yes (Star)23

**Distressed is defined as a “public water system or wastewater system operated by a local government unit exhibiting signs of failure to identify or address those financial or operating needs necessary to enable that system to become or to remain a local government unit generating sufficient revenues to adequately fund management and operations, personnel, appropriate levels of maintenance, and reinvestment that facilitate the provision of reliable water or wastewater services” per Session Law 2020-79.**

Sources

Small Business: Statewide Data

Small businesses make up 99.6% (1.1 million small businesses) of all NC Businesses.24

44.2% (1.7 million small business employees) of all North Carolinians are small business employees.24

Business Ownership

Business Ownership - Women
46.0%24
Business Ownership - Veterans
7.1%24
Business Ownership - People of Color
22.8%24

Business Creation

2021
178,30025
2022
171,40025
2023
171,70025

Business Revenue

2019
$125,700,00026
2020
$141,400,00026
2021
$159,200,00026

Employment Data

Small Business Employment Change, March 2022 - March 2023
Net increase of 100,187 jobs24
Small Business Establishment Change, March 2022 - March 2023
Net increase of 7,773 businesses24

Agriculture

Farms
42,81727
Acres of Farmland
8,128,13627
Average Acreage of NC Farms
19027

Major Sectors

Major Business Sectors
Aerospace and Defense; Automotive, Truck & Heavy Machinery; Biotechnology and Pharmaceuticals; Business and Financial Services; Corporate Headquarters; Energy; Food Processing and Manufacturing; Furniture; Information Technology; Plastics and Chemicals; Textiles; Tourism28
Sources