Payday Loans in Montgomery
Montgomery has the special local restrictions for deffered transaction lenders.
Since 2013, The Montgomery City Council has taken a series of actions to restrict business in the city. In September 2013, a 3-month moratorium was imposed on new payday loan store openings and in December 2013 the moratorium was extended for another 6 months. After that the City passed the ordinance:
Ord. No. 32-2014, 5/20/2014 (distance requirements)
- 2,500 feet between payday loan storefronts;
- 250 feet of residences and public places.
Montgomery Residents Debt-to-Income Ratios
Montgomery residents have 617 median credit score and
the average number of late payments is about 7.08.
Below represented DTI (Debt-to-Income) ratios shows how Montgomery residents debts stacks up against their income.
As of 2020.
Credit Card DTI
Car Loan DTI
Student Loan DTI
Montgomery Residents Financial Statistics
Below represented statistics is for Montgomery,
Montgomery County, Alabama.
As of 2019.
Median age of Montgomery's residents, years
Labour force participation rate, %
Unemployment rate, %
% of residents with no health insurance
Median individual income, USD
Median household income, USD
% of households with income under $35,000
% of households with income $35,000 - $75,000
% of households with income $75,000 - $100,000
% of households with income over $100,000
% of households that own their residence
Median home value owned by residents, USD
Median rent cost, USD
Some official sources of data we used to build this page: