Morgan County, Missouri Housing Market
In Morgan County, Missouri, the median home value is $194,400, with a median monthly rent of $721. This places Morgan County at #1461 nationally out of 3134 counties by median home value, and #33 within Missouri.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $783
- Establishments: 608
- BLS QCEW, 2025
Housing Supply
- Single-family: 15
- Multi-family: 8
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 8,114 (avg $61,088)
- Outflow: 7,484 (avg $59,354)
- IRS Statistics of Income
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| Metric | Morgan County | Missouri Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $194,400 | $175,712 | $227,706 |
| Median Gross Rent | $721 | $782 | $968 |
| Owner Occupancy Rate | 79.7% | 73.7% | 73.3% |
| Price/Rent Ratio | 22.5 | 18.8 | 18.7 |
Market Analysis
The median home value in Morgan County is 10.6% above the Missouri state average and 14.6% below the U.S. national average. The median rent of $721/month is 7.8% below the state average.
With a price-to-rent ratio of 22.5, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Morgan County has an owner-occupancy rate of 79.7%, compared to 73.7% in Missouri 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 |
|---|---|---|---|
| Ouachita Parish | Louisiana | $194,400 | $959 |
| Lawrence County | Tennessee | $194,400 | $763 |
| Garland County | Arkansas | $194,300 | $966 |
| Jones County | Georgia | $194,500 | $964 |
| Lafayette County | Wisconsin | $194,500 | $830 |
Other Counties in Missouri
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Miller County | $192,600 | $763 | 73.9% |
| St. Louis city | $197,500 | $997 | 45.3% |
| Newton County | $190,700 | $817 | 76.6% |
| Dallas County | $190,300 | $642 | 75.9% |
| Ray County | $198,800 | $782 | 77.3% |
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).