Montgomery County, Maryland: commercial real estate data.
Montgomery County, Maryland had an estimated 1,082,273 residents on July 1, 2024, up 1.9 percent since the 2020 census base of 1,062,077, across 491 square miles. 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 since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Montgomery County
How many people live in Montgomery County
- Population, American Community Survey 2020-20241,065,949
- 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-equivalents, Puerto Rico included44th of 3,222
Montgomery County is the 1st largest of 24 Maryland counties by population. A median home costs 4.8 times median household income, which is seriously unaffordable 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's population growing?
- Population, July 1, 20241,082,273
- Census 2020 base population1,062,077
- Population change since the 2020 census base1.90 percent
- Population change, 2023 to 202412,876
- 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 of 3,144
The county has grown 1.90 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Montgomery County
Where are people moving to Montgomery County from?
- Tax returns filed by households arriving26,626
- People arriving, from those returns43,262
- Tax returns filed by households leaving32,918
- Net household movement-6,292
- Adjusted gross income arriving$2.84 bn
- Net adjusted gross income movement$-1.19 bn
- Average income of an arriving household$106,809
- Average income of a leaving household$122,605
- Largest single originPrince George's County (3,967 households)
- Largest single destinationPrince George's County (3,685 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Prince George's County | 3,967 | 6,766 | $212.4 m |
| District of Columbia | 3,375 | 5,632 | $559.1 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 |
| Anne Arundel County | 675 | 1,054 | $55.9 m |
| Arlington County | 608 | 869 | $120.2 m |
| Baltimore city | 573 | 774 | $45.4 m |
Households arriving report $15,796 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Prince George's County, 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 is the Montgomery County economy?
- 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 the Maryland areas BEA publishes1st of 24
- Rank by GDP among the US county areas BEA publishes49th of 3,127
- 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
Employment by industry in Montgomery County
- Covered employment, annual average462,298
- Establishments reporting35,443
- Average annual pay$94,473
- Average weekly wage$1,817
- Health care and social assistance, employment71,328
- Health care and social assistance, average annual pay$70,471
- Professional, scientific and technical services, employment66,506
- Professional, scientific and technical services, average annual pay$133,145
- Retail trade, employment41,094
- Retail trade, average annual pay$48,192
- Accommodation and food services, employment33,038
- Accommodation and food services, average annual pay$35,779
- Administrative and support and waste management services, employment27,016
- Construction, employment21,635
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 71,328 | 4,265 | $70,471 |
| Professional, scientific and technical services | 66,506 | 7,778 | $133,145 |
| Retail trade | 41,094 | 2,372 | $48,192 |
| Accommodation and food services | 33,038 | 2,011 | $35,779 |
| Administrative and support and waste management services | 27,016 | 2,016 | $62,258 |
| Construction | 21,635 | 2,483 | $86,445 |
| Other services, except public administration | 19,491 | 6,274 | $66,849 |
| Manufacturing | 14,692 | 539 | $168,388 |
Health care and social assistance is the largest private sector at 71,328 jobs, 15.4 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Montgomery County
How many businesses are 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. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Montgomery County
Building permits in Montgomery County
- Housing units authorized by permit, 20243,656
- Declared construction value permitted$900.7 m
- Single family units authorized1,491
- Multifamily units authorized2,165
- Multifamily share of units59.2 percent
- Average declared value per unit$246,349
- Units authorized per 1,000 households9.4
Multifamily is 59.2 percent of units authorized, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Montgomery County
SBA loans in Montgomery County (7(a) and 504)
- 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$928,540
- 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$552,500
- Distinct CDCs active5
- 504 jobs per approval15.0
- 504 jobs per million dollars approved17.4
- Most active CDCBusiness Finance Group, Inc. (106)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$528.6 m
The average approval of $395,128 sits well above the median of $150,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here 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
SBA loan default and charge-off rates in 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
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.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Montgomery County
SBA lending by place in Montgomery County
- Borrower cities with recorded lending37
- Rockville, approvals228
- Silver Spring, approvals212
- Gaithersburg, approvals183
- Bethesda, approvals102
- Germantown, approvals56
- Chevy Chase, approvals31
| Borrower city | 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 |
| Olney | 28 | $11,873,100 |
| Potomac | 28 | $9,659,200 |
| 29 other borrower cities | 176 | $66,557,800 |
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 large 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 boundary6
- 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.
Montgomery County
Flood risk in Montgomery County
- Participation of the county's own NFIP community Montgomery County, unincorporated areasParticipating, community 240049
- Communities in the county in the NFIP Community Status Book19
- Of those, participating in the NFIP19
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Montgomery County, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The county's own community in the status book, unincorporated Montgomery County (community 240049), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Montgomery County in radon zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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.
- Population, American Community Survey 2020-20241,065,949
- 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?
The Census Bureau estimates 1,082,273 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 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's population growing?
The population has grown 1.90 percent since the 2020 census base of 1,062,077, to 1,082,273 on July 1, 2024. 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 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 employment by industry in Montgomery County?
Health care and social assistance is the largest private sector at 71,328 jobs, 15.4 percent of covered employment. Covered employment averages 462,298 jobs at an average annual pay of $94,473, or $1,817 a week. 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 totaling $412.5 m since FY2020, across 92 lenders, with a median approval of $150,000, plus 134 504 approvals worth $116.1 m since FY2010. 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.
How many building permits were issued in Montgomery County?
3,656 housing units were authorized 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 Prince George's County, with 3,967 households. Arriving households report an average income of $106,809 against $122,605 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?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Montgomery County
Cities and places in Montgomery.
59 Census places lie wholly or partly in Montgomery County. All 59 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Germantown | CDP | 90,719 | 56 | Wholly in this county |
| Silver Spring | CDP | 81,462 | 212 | Wholly in this county |
| Gaithersburg | city | 69,825 | 183 | Wholly in this county |
| Bethesda | CDP | 69,397 | 102 | Wholly in this county |
| Rockville | city | 67,671 | 228 | Wholly in this county |
| Aspen Hill | CDP | 53,279 | 1 | Wholly in this county |
| Wheaton | CDP | 52,926 | 2 | Wholly in this county |
| North Bethesda | CDP | 49,677 | 15 | Wholly in this county |
| Potomac | CDP | 45,902 | 28 | Wholly in this county |
| Olney | CDP | 35,797 | 28 | Wholly in this county |
| Montgomery Village | CDP | 34,110 | 10 | Wholly in this county |
| Clarksburg | CDP | 30,487 | 20 | Wholly in this county |
| Fairland | CDP | 26,231 | None recorded | Wholly in this county |
| North Potomac | CDP | 23,922 | 5 | Wholly in this county |
| Redland | CDP | 18,665 | None recorded | Wholly in this county |
| Damascus | CDP | 17,640 | 14 | Wholly in this county |
| Takoma Park | city | 17,632 | 12 | Wholly in this county |
| Calverton | CDP | 17,624 | None recorded | 69.3 percent here, 30.7 percent Prince George's County |
| White Oak | CDP | 17,329 | None recorded | Wholly in this county |
| Glenmont | CDP | 17,208 | None recorded | Wholly in this county |
| Cloverly | CDP | 16,646 | None recorded | Wholly in this county |
| Colesville | CDP | 14,519 | None recorded | Wholly in this county |
| Flower Hill | CDP | 13,794 | None recorded | Wholly in this county |
| Kemp Mill | CDP | 13,042 | None recorded | Wholly in this county |
| Travilah | CDP | 11,721 | None recorded | Wholly in this county |
| Burtonsville | CDP | 10,203 | 13 | Wholly in this county |
| Chevy Chase | CDP | 9,445 | 31 | Wholly in this county |
| North Kensington | CDP | 8,954 | None recorded | Wholly in this county |
| Leisure World | CDP | 8,882 | None recorded | Wholly in this county |
| Four Corners | CDP | 8,150 | None recorded | Wholly in this county |
| South Kensington | CDP | 8,148 | None recorded | Wholly in this county |
| Darnestown | CDP | 7,051 | 1 | Wholly in this county |
| Forest Glen | CDP | 6,840 | None recorded | Wholly in this county |
| Poolesville | town | 5,764 | 12 | Wholly in this county |
| Ashton-Sandy Spring | CDP | 5,630 | None recorded | Wholly in this county |
| Layhill | CDP | 5,497 | None recorded | Wholly in this county |
| Hillandale | CDP | 5,060 | None recorded | 63.9 percent here, 36.1 percent Prince George's County |
| Friendship Heights Village | CDP | 4,002 | None recorded | Wholly in this county |
| Burnt Mills | CDP | 3,751 | None recorded | Wholly in this county |
| Brookmont | CDP | 3,671 | None recorded | Wholly in this county |
| Chevy Chase | town | 2,906 | None recorded | Wholly in this county |
| Kensington | town | 2,369 | 23 | Wholly in this county |
| Cabin John | CDP | 2,179 | None recorded | Wholly in this county |
| Derwood | CDP | 1,984 | 14 | Wholly in this county |
| Chevy Chase Village | town | 1,903 | None recorded | Wholly in this county |
| Ten Mile Creek | CDP | 1,184 | None recorded | Wholly in this county |
| Somerset | town | 1,088 | None recorded | Wholly in this county |
| Chevy Chase View | town | 1,063 | None recorded | Wholly in this county |
| Spencerville | CDP | 1,028 | 1 | Wholly in this county |
| Martin's Additions | village | 1,012 | None recorded | Wholly in this county |
| Garrett Park | town | 932 | 3 | Wholly in this county |
| Chevy Chase Section Three | village | 887 | None recorded | Wholly in this county |
| Chevy Chase Section Five | village | 803 | None recorded | Wholly in this county |
| North Chevy Chase | village | 746 | None recorded | Wholly in this county |
| Laytonsville | town | 677 | 1 | Wholly in this county |
| Washington Grove | town | 577 | None recorded | Wholly in this county |
| Glen Echo | town | 276 | None recorded | Wholly in this county |
| Barnesville | town | 208 | None recorded | Wholly in this county |
| Brookeville | town | 161 | 1 | Wholly in this county |
A further 28 of the county's 1,044 SBA 7(a) approvals are to borrowers in cities that match no Census place in Montgomery County, the largest being Ashton (5), Laurel (5), Boyds (4). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.