In Montrose, a typical home is worth $194,100 and typical rent is $1,297 a month. Compared with all of Henrico County, the typical home value is 46% lower, typical household income is 44% lower, and the share of households that own their home is 27 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $176,820 to $255,713.
Typical rent
$1,629a month
Typical rent from Zillow, December 2025 to September 2026: from $1,551 to $1,629.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Montrose is in Henrico County. The FHA loan limit ($707,250 for a one-unit home), the fair market rents and the help on this page are those of all of Henrico County. See the county
What this place has that others do not, from public data, most unusual first.
1
38% of households in Montrose own their home, against 64% in Henrico County.
2
The typical home in Montrose is worth $194,100,46% less than in Henrico County as a whole ($359,200).
3
The typical household income in Montrose is $49,550,44% less than in Henrico County as a whole ($88,783).
4
The typical rent in Montrose is $1,297 a month, 16% less than in Henrico County as a whole ($1,541).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Montrose
What homes there are in Montrose, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Montrose
Henrico County
Virginia
United States
Kind of home: Montrose and its comparisons
Measure
Montrose
Henrico County
Virginia
United States
Detached house
55%
63%
61%
61%
Attached house
Unreliable estimate
11%
11%
6%
Building of 2 to 4
Unreliable estimate
6%
5%
8%
Apartments (5 or more)
Unreliable estimate
20%
19%
19%
Mobile home
Unreliable estimate
0%
4%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
Detached houses are the majority in Montrose (55%), but less so than in Henrico County (63%).
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Montrose
Henrico County
Virginia
United States
Year built: Montrose and its comparisons
Measure
Montrose
Henrico County
Virginia
United States
Before 1960
23%
18%
19%
26%
1960–1979
29%
23%
24%
24%
1980–1999
35%
33%
30%
25%
2000–2009
Unreliable estimate
15%
15%
14%
2010 or later
Unreliable estimate
11%
12%
11%
Homes in Montrose are older: the typical year built is 1979; in Henrico County, 1985.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200K49%
$200K–$300K34%
$300K–$500KUnreliable
$500K–$750KUnreliable
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Montrose and its comparisons
Measure
Montrose
Under $100K
Unreliable estimate
$100K–$200K
49%
$200K–$300K
34%
$300K–$500K
Unreliable estimate
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable
$1M or more
Unreliable
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99915%
$1,000–$1,49958%
$1,500–$1,99920%
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Montrose and its comparisons
Measure
Montrose
Under $500
Unreliable estimate
$500–$999
15%
$1,000–$1,499
58%
$1,500–$1,999
20%
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable estimate
With a mortgage
$1,138 a month
Henrico County: $1,862 a month
Without a mortgage
$448 a month
Henrico County: $590 a month
Owners with a mortgage
82%
Henrico County: 71%
The typical cost for an owner with a mortgage in Montrose is $1,138 a month, less than in Henrico County ($1,862); without one, $448.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Montrose+67%
Henrico County+48%
Virginia+41%
United States+53%
Typical rent
Montrose+27%
Henrico County+32%
Virginia+28%
United States+33%
Typical household income
MontroseNo clear change
Henrico County+26%
Virginia+26%
United States+29%
Change since 2015–2019: Montrose and its comparisons
Measure
Montrose
Henrico County
Virginia
United States
Typical home value
+67%
+48%
+41%
+53%
Typical rent
+27%
+32%
+28%
+33%
Typical household income
No clear change
+26%
+26%
+29%
From 2015–2019 to 2020–2024, the typical home value in Montrose rose 67%; in Henrico County, it rose 48%.
Rents in Montrose rose more slowly than in Henrico County: 27% since 2015–2019, against 32%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Montrose and its comparisons
Measure
Montrose
Henrico County
Virginia
United States
Rental vacancy
Unreliable estimate
5.6%
4.8%
5.5%
Homeowner vacancy
Unreliable estimate
0.6%
0.8%
0.9%
More than one person per room
Unreliable estimate
1.7%
2.1%
3.4%
People per household
2.25
2.42
2.52
2.53
Drive alone
84%
67%
68%
69%
Carpool
Unreliable estimate
7%
8%
9%
Public transit
Unreliable estimate
1%
2%
3%
Walk or bike
Unreliable estimate
1%
2%
3%
Work from home
6%
22%
18%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
On average, a household in Montrose has 2.25 people, fewer than in Henrico County (2.42).
To get to work, 84% of workers in Montrose drive alone; in Henrico County, 67%.
Do the math
What would you pay each month for a home in Montrose?
A typical home costs more than the typical income allows
We start with a typical home in Montrose, worth $194,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 38% of the typical household income in Montrose, which is $49,550 a year. For that payment to be 28% of income, a household would need to earn about $67,330 a year.
The calculator's FHA and conventional loan limits are those of all of Henrico County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Montrose. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $6,794 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$1,571
at 7.18% · 30 years
Loan amount
$190,584
Total interest
$274,205
Paid off in
November 2056
Includes $3,278 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,156 a month
Tight
$1,156 to $1,487 a month
Hard
more than $1,487 a month
Your payment · 38%
Compared with the typical household income in Montrose ($49,550 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,291
Property tax
$113
Home insurance
$81
FHA mortgage insurance (MIP)
$86
You need at least $6,794 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $1,571; principal and interest $1,291.
The city and its county
Montrose and Henrico County
Montrose is in Henrico County, Virginia. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Montrose
Map of Henrico County, Virginia, with Montrose marked. Around it, the neighboring counties.
Montrose
Henrico County
Other cities with a page
Montrose's own numbers
Typical home value
$194,100
Typical monthly rent
$1,297
Typical yearly household income
$49,550
Households that own their home
38%
Effective property tax rate
0.7%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Henrico County
FHA limit, one-unit home
$707,250
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,651
Price change over 5 years (FHFA)
+57%
Homes in a high flood-risk zone
0.4%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Henrico County.
A typical home in Montrose is worth $194,100: 46% below the county and 49% below Virginia. With the typical household income in Montrose ($49,550 a year), a typical home costs 3.9 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Montrose3.9 years
Henrico4.0 years
Virginia4.1 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Henrico County
According to FHFA’s house price index, home prices in Henrico County rose 96% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Henrico County.
Yearly change in FHFA’s price index in Henrico County, 2016 to 2025
2016: +3.4% +3.4% 2016
2017: +6.0% +6.0% 2017
2018: +5.3% +5.3% 2018
2019: +4.8% +4.8% 2019
2020: +3.4% +3.4% 2020
2021: +11.3% +11.3% 2021
2022: +15.5% +15.5% 2022
2023: +9.5% +9.5% 2023
2024: +6.1% +6.1% 2024
2025: +4.9% +4.9% 2025
Change in FHFA’s price index in Henrico County, Virginia and the United States
Period
County
Virginia
U.S.
Last year (2025)
+4.9%
+3.7%
+2.9%
5 years (2020–2025)
+57%
+49%
+47%
10 years (2015–2025)
+96%
+75%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Montrose next to Henrico County, Virginia and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Montrose$194,100
Henrico$359,200
Virginia$383,700
United States$332,700
Typical monthly rent
Montrose$1,297
Henrico$1,541
Virginia$1,579
United States$1,413
Typical yearly household income
Montrose$49,550
Henrico$88,783
Virginia$93,170
United States$80,734
See the full table
Montrose next to Henrico County and Virginia
Measure
Montrose
Henrico County
Virginia
U.S.
Typical home value
$194,100 ▼46% below the county
$359,200
$383,700
$332,700
Typical monthly rent
$1,297 ▼16% below the county
$1,541
$1,579
$1,413
Typical yearly household income
$49,550 ▼44% below the county
$88,783
$93,170
$80,734
Households that own their home
38% ▼27 points below the county
64%
67%
65%
Typical yearly property tax
$1,357 ▼47% below the county
$2,565
$2,790
$3,119
Effective property tax rate
0.7% ▼0.01 points below the county
0.71%
0.73%
0.94%
Renters with high rent for their income
58% ▲6 points above the county
52%
49%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Henrico County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Montrose
For a typical $194,100 home in Montrose, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Montrose's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$1,571a month
Least cash to close
Down payment
$6,794
Cash to close
$12,617
Rate
7.18%
Mortgage insurance
FHA MIP · $86
Conventional, 5% down$1,535a month
Down payment
$9,705
Cash to close
$15,528
Rate
7.18%
Mortgage insurance
PMI · $92
Conventional, 20% down, no PMI$1,246a month
Down payment
$38,820
Cash to close
$44,643
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,425a month
Down payment
$29,115
Cash to close
$34,938
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Montrose
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,571
$6,794
$190,584
7.18%
FHA MIP · $86
$12,617
580
Conventional, 5% down
$1,535
$9,705
$184,395
7.18%
PMI · $92
$15,528
620*
Conventional, 20% down, no PMI
$1,246
$38,820
$155,280
7.18%
None
$44,643
620*
ITIN, 15% down (example)
$1,425
$29,115
$164,985
8.18%
None
$34,938
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Montrose is $1,297 a month: 16% below the county. In Montrose, 58% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Henrico County, by unit size. To pay the 2-bedroom one ($1,651 a month) without spending more than 30% of your income, you would need to earn $31.75 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Henrico County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,456
$28.00
$58,240
1 bedroom
$1,517
$29.17
$60,680
2 bedrooms
$1,651
$31.75
$66,040
3 bedrooms
$2,039
$39.21
$81,560
4 bedrooms
$2,499
$48.06
$99,960
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Montrose
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Montrose is in ZIP code 23231.
For 2 bedrooms it is $1,520: $131 less than the fair market rent for Henrico County ($1,651).
Fair market rent by ZIP code and size in Montrose, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
23231
$1,340
$1,400
$1,520
$1,880
$2,300
ZIP code2 bd3 bd
23231 $1,520$1,880
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Montrose when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There are 3 HUD-approved agencies with an office in Henrico County; none says it serves in Spanish.
No down payment, repair or rent-help program on our list is for Montrose or Henrico County. The ones below are statewide in Virginia: they work in Montrose the same as in the rest of the state.
Virginia state agency down payment grant that you do not repay; for first-time buyers, or any buyer in economic opportunity zones, with a Virginia Housing mortgage.Offered by Virginia Housing (Virginia Housing Development Authority).
Virginia Housing 30-year fixed-rate second mortgage of up to 5% of the price for the down payment (and part of the closing costs with a credit score of 680 or higher); for first-time buyers and for people who have owned a home before.Offered by Virginia Housing (Virginia Housing Development Authority).
Virginia Housing grant that you do not repay, of up to 2% of the price, for the closing costs of buyers with a Virginia Housing RD (Rural Development) or VA loan.Offered by Virginia Housing (Virginia Housing Development Authority).
No legal help resource on our list is for Montrose or Henrico County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Montrose and all of Henrico County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Montrose?
The typical home value in Montrose is $194,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Henrico County it is $359,200.
How much does it cost to rent in Montrose?
Typical rent in Montrose is $1,297 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Henrico County is $1,651.
What is the FHA loan limit in Montrose?
Montrose uses the FHA limit for all of Henrico County (2026): $707,250 for a one-unit home and $1,360,100 for a four-unit home.
How much property tax do owners pay in Montrose?
The typical homeowner in Montrose pays $1,357 a year, according to the U.S. Census Bureau. That is 0.7% of the home’s value; in Henrico County, the rate is 0.71%.
Where can I find free help to buy or rent in Montrose?
There are 3 HUD-approved counseling agencies with an office in Henrico County. They can help you get ready to buy, with your credit, or with rent.
