Morgan County, Alabama Housing Market Prices
Morgan County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 47% above the Alabama median More expensive than 88% of counties in Alabama$236,233
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Median rent 14% below the Alabama median More expensive than 70% of counties in Alabama$863
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Morgan County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $236,233 | $160,474 | $248,835 |
| Price Trend (Annual %) | 15.4% | 6.3% | 7.5% |
| Median Gross Rent | $863 | $1,007 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Morgan County is about 47% higher than in Alabama. Rent is about 14% lower than the Alabama average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Morgan County, up about 15.4% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Morgan County rose about 44.2% between 2015 and 2024, from $598 to $863. Over the same span, rent in Alabama rose about 40.5%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Morgan County.
Buying the median-priced home in Morgan County costs roughly 22.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Morgan County. The price-to-rent ratio in Alabama is about 13.3.
| Metric | Morgan County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $236,233 | $160,474 | $248,835 |
| Median Household Income | $68,699 | $64,544 | $80,455 |
| Price-to-Income Ratio | 3.4 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Morgan County rose about 169.2%, while median household income rose about 50.7% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Morgan County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.1% | 60.0% | 58.5% |
| Rental Rate | 24.9% | 25.5% | 31.2% |
| Vacancy Rate | 9.0% | 14.5% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Morgan County has a homeownership rate of 66.1%, higher than the Alabama average of 60.0%. Its housing vacancy rate is 9.0%, compared with 14.5% in Alabama.
Housing Stock
| Metric | Morgan County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.48 people | 2.53 people |
| Median Structure Built Year | 1984 | 1985 | 1978 |
| Median Number of Rooms | 6.0 | 5.9 | 5.5 |
The typical housing unit in Morgan County was built around 1984. On average, 2.5 people live in a home with about 6.0 rooms, staying for about 16.0 years on average.
Morgan County, AL Housing Compared With Nearby Counties
Morgan County, AL is the 2nd largest of the 5 counties compared here, 124,471 residents against a local median of 100,899. Where Morgan County, AL breaks from the counties next to it is median home price, sitting 37% above the local median of $172,789 at $236,233.
The counties themselves spread $262,576 on median home price, so Morgan County, AL sits at one end of an already wide local range rather than apart from it. Morgan County, AL has the 2nd highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Morgan County, AL | 124,471 | $236,233 #2/5 | $863 #4/5 | 72.7% #4/5 |
| Cullman County, AL | 90,566 | $147,187 | $908 | 76.6% |
| Limestone County, AL | 111,233 | $339,394 | $970 | 77.6% |
| Madison County, AL | 405,488 | $198,391 | $1,208 | 68.3% |
| Blount County, AL | 59,518 | $76,817 | $775 | 81.0% |
Frequently Asked Questions
Common questions about the housing market in Morgan County, Alabama.
What is the median home price in Morgan County, Alabama?
The median home price in Morgan County, Alabama is $236,233, higher than the Alabama average of $160,474.
What is the average home price in Morgan County, Alabama?
The typical home price in Morgan County, Alabama, reported as the median sale price, is $236,233. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Morgan County, Alabama?
The median gross rent in Morgan County, Alabama is $863 per month, lower than the Alabama average of $1,007.
What was the median gross rent in Morgan County in 2020?
In 2020, the median gross rent in Morgan County, Alabama was $683 per month.
What is the price-to-rent ratio in Morgan County, Alabama?
The price-to-rent ratio in Morgan County, Alabama is about 22.8, meaning it would take roughly 22.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Morgan County.
Are home prices or rent rising faster in Morgan County, Alabama?
Both home prices and rent are rising in Morgan County, up about 15.4% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Morgan County, Alabama?
66.1% of households in Morgan County, Alabama own their home, higher than the Alabama average of 60.0%.
What is the vacancy rate in Morgan County, Alabama?
The housing vacancy rate in Morgan County, Alabama is 9.0%, lower than the Alabama average of 14.5%.
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