Montpelier was declared a National Historic Landmark and listed on the National Register of Historic Places in 1966. It was included in the Madison-Barbour Rural Historic District in 1991. In 1983, the last private owner of Montpelier, Marion duPont Scott, bequeathed the estate to the National Trust for Historic Preservation.

The National Trust for Historic Preservation has owned and operated the estate since 1984, and from 2003-2008 carried out a major restoration, in part to return the mansion to its original size of 22 rooms during the years when it was occupied by James and Dolley Madison. Extensive interior and exterior work was done during the restoration. Visitors to the estate can follow the multifaceted restoration in the "Restoration Room." In the 21st century, archeological investigations in four quarters have revealed new information about African-American life at the plantation.