Cost of Living in Morgan County, Colorado
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Morgan County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Morgan County ranks #2,697 of 3,144 counties for affordability (bottom 14%)
Data Story
About Cost of Living in Morgan County, Colorado
Morgan County matches national income strength
Morgan County renters spend 17.4% of income on housing—well below national norms and significantly below the 30% affordability threshold. At $75,407, median household income actually exceeds the U.S. average of $74,755, giving residents above-average purchasing power for housing costs.
Top-tier affordability in Colorado
Morgan County's rent-to-income ratio of 17.4% ranks among Colorado's best, sitting 2.8 percentage points below the state average of 20.2%. Its median rent of $1,092 is 13% cheaper than the state median, combined with above-average income creating exceptional affordability.
Outperforms peers on income and balance
Morgan County's $1,092 rent sits between Montezuma's $974 and Montrose's $1,120, but its $75,407 income—the highest among nearby counties—creates the strongest financial cushion. The 17.4% rent-to-income ratio beats all four-corner counties and rivals Moffat County's efficiency.
Renters strain, owners thrive
Monthly rent costs $1,092 while homeowners spend $1,264—a notable reversal where renting appears cheaper despite higher actual costs. However, the $75,407 median income means housing consumes just 17-20% of monthly earnings, leaving comfortable flexibility regardless of tenure choice.
Best income, competitive housing costs
Morgan County combines Colorado's top-tier renter affordability (17.4% ratio) with above-average wages, making it ideal for workers prioritizing financial stability. Stack this against Moffat County for comparable affordability, or Ouray County if you want higher incomes offset by premium mountain prices.
Cost of Living Advisory: Morgan County
Affordability Verdict
For renters in Morgan County, the market is affordable. Expect to pay around $1,092/month in gross rent, with 27.0% of renter households considered cost-burdened.
Rent vs. Own
At $1,092/month rent versus $1,264/month in owner costs, renting is roughly $172/month cheaper — a 14% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $43,680/year. For owner costs at the 28% rule, the required income is roughly $54,171/year. With a median household income of $75,407, most households can comfortably afford rent here. Notably, 27.0% of renter households in Morgan County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Colorado, Morgan County is more affordable than Fremont County by roughly 5% ($1,092/mo vs $1,036/mo).
Affordability Calculator
See how your income compares to housing costs in Morgan County
Rent Burden
17.4%
of gross income
Max Housing (28% Rule)
$1,759
per month
Owner Cost Burden
20.1%
of gross income
The median home in Morgan County may be a stretch
Median home value is $299,300. Estimated monthly cost: $2,389 vs. your max of $1,759.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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