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)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Morgan County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Morgan County ranks #288 of 3,142 counties for affordability (top 9%)
Sourced county brief
Median Home Value in Morgan County Reaches $118,200
In Morgan County, Kentucky, the median home value was $118,200, which is $42,635 below the state unweighted county mean of $160,835. Data from the ACS 2020-2024 5-Year Estimates indicates that the median gross rent was $663 per month, compared to the Kentucky unweighted county mean of $793. The official median gross rent as a percentage of household income (GRAPI) was 25.8%. This official rentToIncomePct is 1.4 percentage points below the state unweighted county mean of 27.2%. For owner-occupied households, the median selected monthly owner costs were $630, while the state unweighted county mean was $753. The median income for renter-households was $36,367. This statistical overview covers the five-year measurement period ending in 2024 and provides a specific snapshot of historical housing data. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Morgan County
Affordability Verdict
ACS B25071 estimates median gross rent at 25.8% of renter household income in Morgan County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $663 per month; median selected monthly owner costs are $630. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $26,520 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Kentucky unweighted mean of county median rents is $793 per month. Morgan County's $663 median is 16.4% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Morgan County
Rent Burden
16.6%
of gross income
Max Housing (28% Rule)
$1,118
per month
Owner Cost Burden
15.8%
of gross income
You can likely afford the median home in Morgan County
Median home value is $118,200. Estimated monthly cost: $944 vs. your max of $1,118.
Rent Affordability Guide
Income Needed Calculator
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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 (2020-2024). Data is informational only and is not personalized financial advice.
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