Cost of Living in Morgan County, Illinois
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 #2,275 of 3,144 counties for affordability (bottom 28%)
Data Story
About Cost of Living in Morgan County, Illinois
Morgan rents run lean on lower incomes
Morgan County's median household income of $65,175 sits 12.9% below the national median, while its 13.1% rent-to-income ratio runs just below the national benchmark of roughly 15%. Residents here manage tight housing-to-income balances.
Morgan tracks close to Illinois average
Morgan County's 13.1% rent-to-income ratio edges below Illinois's 14.7% state average, with median rents of $710/month significantly undercutting the state's $837. This modest advantage helps offset the county's below-average household incomes.
Morgan keeps costs lean like peers
Morgan's $710 median rent ranks among the region's cheapest, comparable to Montgomery County ($715) and Mercer County ($757). The median home value of $128,700 similarly positions Morgan as an affordable option for buyers on limited budgets.
Housing claims one-third of income
Morgan residents allocate 13.1% to rent and 16.5% to owner costs, totaling nearly one-third of household income for housing. An $897/month mortgage on a $128,700 home stretches county earners, requiring disciplined household budgeting.
Morgan suits value-first relocators
Morgan County attracts households prioritizing lowest possible housing costs over income growth prospects. Compare Morgan's tight affordability margin to wealthier counties to assess whether the savings justify lifestyle trade-offs.
Cost of Living Advisory: Morgan County
Affordability Verdict
Housing in Morgan County is affordable. The median rent is $710/month against a median household income of $65,175, putting rent at 13.1% of income.
Rent vs. Own
Renters in Morgan County pay $710/month on average, compared to $897/month for homeowners. This market favors renters by about 21%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $28,400/year. For owner costs at the 28% rule, the required income is roughly $38,443/year. With a median household income of $65,175, most households can comfortably afford rent here. Notably, 23.0% of renter households in Morgan County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Crawford County where rent averages $761/month, Morgan County is approximately 7% less expensive.
Affordability Calculator
See how your income compares to housing costs in Morgan County
Rent Burden
13.1%
of gross income
Max Housing (28% Rule)
$1,521
per month
Owner Cost Burden
16.5%
of gross income
You can likely afford the median home in Morgan County
Median home value is $128,700. Estimated monthly cost: $1,027 vs. your max of $1,521.
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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