Morgan County, Kentucky Housing Market
In Morgan County, Kentucky, the median home value is $118,200, with a median monthly rent of $663. This places Morgan County at #2669 nationally out of 3134 counties by median home value, and #94 within Kentucky.
📈 Price Trend (2017 → 2024)
ℹ️ FHFA HPI data is not available for this county due to limited mortgage transaction volume.
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $900
- Establishments: 246
- BLS QCEW, 2025
Housing Supply
- Single-family: 2
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 3,900 (avg $50,039)
- Outflow: 3,641 (avg $51,128)
- IRS Statistics of Income
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| Metric | Morgan County | Kentucky Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $118,200 | $160,835 | $227,706 |
| Median Gross Rent | $663 | $793 | $968 |
| Owner Occupancy Rate | 78.9% | 73.4% | 73.3% |
| Price/Rent Ratio | 14.9 | 16.6 | 18.7 |
Market Analysis
The median home value in Morgan County is 26.5% below the Kentucky state average and 48.1% below the U.S. national average. The median rent of $663/month is 16.4% below the state average.
With a price-to-rent ratio of 14.9, buying a home in Morgan County is generally more favorable than renting for those planning to stay long-term. A ratio below 15 typically signals that purchasing is financially advantageous over a multi-year horizon.
Morgan County has an owner-occupancy rate of 78.9%, compared to 73.4% in Kentucky and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Jeff Davis County | Georgia | $118,300 | $650 |
| Dodge County | Georgia | $118,100 | $723 |
| Brown County | Kansas | $118,100 | $646 |
| Clarke County | Mississippi | $118,100 | $801 |
| Tazewell County | Virginia | $118,300 | $795 |
Other Counties in Kentucky
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Caldwell County | $118,500 | $767 | 70.2% |
| Knox County | $118,700 | $681 | 65.3% |
| Estill County | $119,500 | $711 | 70.4% |
| Johnson County | $120,200 | $708 | 68.3% |
| Carlisle County | $120,400 | $792 | 80.4% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).