Montgomery County, Maryland: commercial real estate data.
Montgomery County, Maryland has a population of 1,065,949 across 491 square miles, up 1.9 percent since the 2020 census base. County output reached $117.39 bn in 2024, 27,677 establishments operate here, and the SBA record carries 1,044 7(a) approvals worth $412.5 m.
123 sourced county values · tier FULL · 11 sections
Montgomery County
How many people live in Montgomery County
- Population1,065,949
- Households389,210
- Average household size2.74
- Median household income$132,450
- Median age40.2
- Median gross rent$2,068 per month
- Median owner-occupied home value$640,300
- Home value to household income4.8 times
- Annual rent as a share of median income18.7 percent
- Adults 25 and over with a bachelor degree or higher60.6 percent
- Adults 25 and over with a graduate degree33.4 percent
- Adults 25 and over740,021
- Population under 18243,139
- Share under 1822.8 percent
- Population 65 and over181,139
- Share 65 and over17.0 percent
- Working age population, 18 to 64641,671
- Civilian labor force590,776
- Unemployment rate4.9 percent
- Labor force participation, adults 18 and over71.8 percent
- Rank by population among Maryland counties1st of 24
- Rank by population among US county-equivalents44th
Montgomery County is the 1st largest of 24 Maryland counties by population. A median home costs 4.8 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 22.8 percent against 17.0 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Montgomery County
Is Montgomery County growing
- Population change since the 2020 census base1.90 percent
- Census 2020 base population1,062,077
- Births, 202411,212
- Deaths, 20246,765
- Natural change, 20244,447
- Net domestic migration, 2024-9,380
- Net international migration, 202417,781
- Total net migration, 20248,401
- Cumulative net domestic migration, 2021 to 2024-49,383
- Rank by growth among US county-equivalents1197th
The county has grown 1.90 percent since the 2020 census base. Migration contributed more to 2024 change than births over deaths, so demand here follows people arriving rather than families forming.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Montgomery County
Where people moving to Montgomery County come from
- Tax returns filed by households arriving26,626
- People arriving, from those returns43,262
- Adjusted gross income arriving$2.84 bn
- Net adjusted gross income movement$0
- Average income of an arriving household$106,809
- Largest single originMontgomery County Non-migrants (415,632 households)
- Largest single destination (415,632 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Montgomery County Non-migrants | 415,632 | 837,089 | $67.03 bn |
| Prince George's County | 3,967 | 6,766 | $212.4 m |
| Other flows - Different State | 3,432 | 5,499 | $299.4 m |
| District of Columbia | 3,375 | 5,632 | $559.1 m |
| Other flows - South | 1,597 | 2,562 | $134.4 m |
| Fairfax County | 1,174 | 1,898 | $122.7 m |
| Frederick County | 941 | 1,571 | $80.3 m |
| Howard County | 892 | 1,389 | $77.9 m |
The largest single source of arrivals is Montgomery County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Montgomery County
What the Montgomery County economy runs on
- County GDP, 2024$117.39 bn
- County GDP, 2023$112.55 bn
- GDP change, 2023 to 20244.3 percent
- GDP change over five years25.0 percent
- Rank by GDP among Maryland counties1st
- Rank by GDP among US county-equivalents49th
- GDP per resident$110,127
Output grew 4.3 percent in the latest year and 25.0 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Montgomery County
Who employs people in Montgomery County
- Covered employment, annual average462,298
- Establishments reporting35,443
- Average annual pay$94,473
- Average weekly wage$1,817
- Sector 62, employment71,328
- Sector 62, average annual pay$70,471
- Sector 54, employment66,506
- Sector 54, average annual pay$133,145
- Sector 44-45, employment41,094
- Sector 44-45, average annual pay$48,192
- Sector 72, employment33,038
- Sector 72, average annual pay$35,779
- Sector 56, employment27,016
- Sector 23, employment21,635
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 71,328 | 4,265 | $70,471 |
| Sector 54 | 66,506 | 7,778 | $133,145 |
| Sector 44-45 | 41,094 | 2,372 | $48,192 |
| Sector 72 | 33,038 | 2,011 | $35,779 |
| Sector 56 | 27,016 | 2,016 | $62,258 |
| Sector 23 | 21,635 | 2,483 | $86,445 |
| Sector 81 | 19,491 | 6,274 | $66,849 |
| Sector 31-33 | 14,692 | 539 | $168,388 |
The largest sector is the biggest private employer group at 71,328 jobs, 15.4 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Montgomery County
What businesses operate in Montgomery County
- Establishments, all industries27,677
- Employment at those establishments439,792
- Annual payroll$35.64 bn
- Establishments per 1,000 residents26.0
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Montgomery County
What is being built in Montgomery County
- Housing units authorised by permit, 20243,656
- Declared construction value permitted$900.7 m
- Single family units authorised1,491
- Multifamily units authorised2,165
- Multifamily share of units59.2 percent
- Average declared value per unit$246,349
- Units authorised per 1,000 households9.4
Multifamily is 59.2 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Montgomery County
How much SBA lending happens in Montgomery County
- 7(a) approvals recorded1,044
- 7(a) gross approval dollars$412.5 m
- Average 7(a) approval$395,128
- Median 7(a) approval$150,000
- 10th percentile approval$25,000
- 90th percentile approval$929,500
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)11,561
- Jobs per approval11.1
- Distinct 7(a) lenders active92
- Distinct industries receiving approvals241
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer5.5 percent
- Loans on real estate terms57
- Loans on working capital terms, 120 months or shorter913
- Franchise loans122
- Franchise share of approvals11.7 percent
- Leading industry by approval countFull-Service Restaurants (63)
- Most active lenderManufacturers and Traders Trust Company (321)
- 504 approvals recorded134
- 504 gross approval dollars$116.1 m
- Average 504 approval$866,052
- Median 504 approval$554,000
- Distinct CDCs active5
- 504 jobs per approval15.0
- 504 jobs per million dollars approved17.4
- Most active CDCBusiness Finance Group, Inc. (106)
- 7(a) share of SBA approvals88.6 percent
- Combined SBA approval dollars$528.6 m
The average approval of $395,128 sits well above the median of $150,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 5.5 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Montgomery County
Do SBA loans in Montgomery County get paid back
- Loans with a final outcome recorded158
- Paid in full130
- Charged off28
- Charge off rate on resolved loans17.7 percent
- Status: Paid in full130
- Status: Cancelled175
- Status: Charged off28
- Status: Exempt from disclosure641
- Status: Committed, not yet disbursed70
| NAICS | Industry | Resolved loans | Charged off | Charge off rate |
|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 10 | 2 | 20.0% |
Of the 158 loans that have reached a final outcome, 17.7 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong. Among industries with at least ten resolved loans, Full-Service Restaurants carries the highest charge off rate at 20.0 percent.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Montgomery County
Which parts of Montgomery County get the lending
- Places in the county with recorded lending37
- ROCKVILLE, approvals228
- Silver Spring, approvals212
- Gaithersburg, approvals183
- BETHESDA, approvals102
- Germantown, approvals56
- CHEVY CHASE, approvals31
| Place | Approvals | Gross approval dollars |
|---|---|---|
| ROCKVILLE | 228 | $119,235,700 |
| Silver Spring | 212 | $76,017,500 |
| Gaithersburg | 183 | $66,644,100 |
| BETHESDA | 102 | $37,017,000 |
| Germantown | 56 | $15,830,400 |
| CHEVY CHASE | 31 | $9,678,500 |
| Potomac | 28 | $9,659,200 |
| Olney | 28 | $11,873,100 |
ROCKVILLE accounts for 228 approvals against 212 in Silver Spring. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Montgomery County
How big is Montgomery County
- Land area491 sq mi
- Rank by land area among Maryland counties5th of 24
- Width, east to west34.3 mi
- Height, north to south28.9 mi
- Geographies sharing a boundary3
- Residents per square mile of land2,171
- Establishments per square mile56.37
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Montgomery County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Montgomery County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population1,065,949
- Households389,210
- Average household size2.74
- Median household income$132,450
- Median age40.2
Common questions
Montgomery County questions, answered from the record.
How many people live in Montgomery County, Maryland?
1,065,949, in 389,210 households, ranking 1st of 24 Maryland counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Montgomery County growing?
The population has grown 1.90 percent since the 2020 census base. In 2024 there were 11,212 births against 6,765 deaths, with net migration of 8,401. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Montgomery County?
$132,450. The median owner-occupied home is valued at $640,300, which is 4.8 times income, and median gross rent is $2,068 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Montgomery County?
27,677 establishments, employing 439,792 people with an annual payroll of $35.64 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Montgomery County?
Average annual pay is $94,473, or $1,817 a week, across 462,298 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Montgomery County?
1,044 7(a) approvals totalling $412.5 m since FY2020, across 92 lenders, with a median approval of $150,000, plus 134 504 approvals worth $116.1 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Montgomery County get paid back?
Of the 158 loans that have reached a final outcome, 130 were paid in full and 28 charged off, a charge off rate of 17.7 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in Montgomery County?
3,656 housing units were authorised by permit in 2024, with a declared construction value of $900.7 m. Multifamily was 59.2 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Montgomery County?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Montgomery County come from?
The largest single origin is Montgomery County Non-migrants, with 415,632 households. Arriving households report an average income of $106,809 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Montgomery County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Montgomery County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.