Cost of Living in Morgan County, Kentucky
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 #413 of 3,144 counties for affordability (top 13%)
Data Story
About Cost of Living in Morgan County, Kentucky
Morgan County: tight affordability margins
Morgan County's rent-to-income ratio of 16.9% sits just below Kentucky's state average of 17.0%, reflecting affordability pressures that match most of the state. Renters pay $670 monthly on a median household income of $47,493, the region's lowest income level.
Below-average Kentucky incomes
Morgan County's 16.9% rent-to-income ratio nearly matches the state average, but the county's median household income of $47,493 is among Kentucky's lowest. This means housing costs consume typical shares of income, but on smaller paychecks.
Morgan rents moderate, incomes low
Morgan's $670 rent is reasonable compared to regional options, but the $47,493 median income is the lowest among nearby counties, matching Metcalfe's struggles. This creates an affordability ratio of 16.9%—typical statewide, but on the tightest budget.
Housing costs: rent vs. ownership
Renters in Morgan pay $670 monthly (16.9% of income), while homeowners spend $596 monthly with a median home value of $106,000. Ownership is noticeably cheaper than renting here, reflecting Morgan's rural character and lower demand.
Morgan County: budget-conscious relocation
Morgan offers low housing costs and affordable ownership options, but factor in that median incomes here are among Kentucky's lowest. It works for relocators with secure, portable income; otherwise, explore neighboring counties with stronger employment bases.
Cost of Living Advisory: Morgan County
Affordability Verdict
Morgan County is affordable for renters, with a median gross rent of $670/month representing approximately 16.9% of median household income. The rent burden (GRAPI) stands at 26.0%.
Rent vs. Own
The median rent in Morgan County is $670/month, while owner costs run $596/month. Owning saves approximately $74/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $26,800/year. For owner costs at the 28% rule, the required income is roughly $25,543/year. With a median household income of $47,493, most households can comfortably afford rent here. Notably, 26.0% of renter households in Morgan County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Morgan County sits 8% more expensive than Crittenden County ($618/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Morgan County
Rent Burden
16.9%
of gross income
Max Housing (28% Rule)
$1,108
per month
Owner Cost Burden
15.1%
of gross income
You can likely afford the median home in Morgan County
Median home value is $106,000. Estimated monthly cost: $846 vs. your max of $1,108.
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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