Cost of Living in Morgan County, Indiana
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 #380 of 3,144 counties for affordability (top 12%)
Data Story
About Cost of Living in Morgan County, Indiana
Morgan County offers premium with income
Morgan County renters spend 15.0% of income on housing, comfortably under national and state benchmarks, supported by the region's highest median household income of $79,088. This above-average earning power makes Morgan County's housing costs quite manageable relative to paychecks.
Higher income compensates higher rents
Morgan County's 15.0% rent-to-income ratio beats Indiana's state average despite charging $988 in median rent—$105 above state average. The county achieves this advantage through above-average incomes rather than below-average rents.
Premium rents, premium incomes
Morgan County's $988 rent exceeds Marshall ($936), Newton ($927), and Miami ($794) Counties but runs below Marion ($1,107) and Monroe ($1,151). Critically, Morgan's median household income of $79,088 is the highest in this group—the highest wage base makes housing proportionally cheaper.
Morgan's income advantage drives affordability
With the region's highest median income of $79,088, Morgan County renters dedicate just 15.0% to $988 monthly rent. Homeowners with a $220,100 median home value face $1,097 in costs, manageable given the county's robust income profile.
Premium housing for premium incomes
Morgan County suits families earning above-average Indiana incomes who value relative affordability through strong paychecks rather than rock-bottom rents. If your household income exceeds the state median, Morgan's vibrant communities and balanced housing ratios make relocation worth consideration.
Cost of Living Advisory: Morgan County
Affordability Verdict
Housing in Morgan County is affordable. The median rent is $988/month against a median household income of $79,088, putting rent at 15.0% of income.
Rent vs. Own
Renters in Morgan County pay $988/month on average, compared to $1,097/month for homeowners. This market favors renters by about 10%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $39,520/year. For owner costs at the 28% rule, the required income is roughly $47,014/year. With a median household income of $79,088, most households can comfortably afford rent here. Notably, 29.0% of renter households in Morgan County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Indiana, Morgan County is more affordable than Marshall County by roughly 6% ($988/mo vs $936/mo).
Affordability Calculator
See how your income compares to housing costs in Morgan County
Rent Burden
15.0%
of gross income
Max Housing (28% Rule)
$1,845
per month
Owner Cost Burden
16.6%
of gross income
You can likely afford the median home in Morgan County
Median home value is $220,100. Estimated monthly cost: $1,757 vs. your max of $1,845.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
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
What is the cost of living in Morgan County, Indiana?
What is the median rent in Morgan County?
Is Morgan County affordable?
How does Morgan County's rent compare to the state average?
What is the median home value in Morgan County?
Counties with Similar Housing Costs
Planning a Move?
Researching the cost of living in Morgan County, Indiana? Compare moving quotes from top providers and save on your relocation.
Compare Moving QuotesCompare Mortgage Rates in Morgan County
Whether you're buying your first home or refinancing, compare rates from top lenders to find the best deal.
See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
CostByCounty participates in affiliate programs. We may earn a commission when you use our links, at no extra cost to you.