Morgan County, Colorado 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 40% below the Colorado median$289,669
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Median rent 42% below the Colorado median$1,024
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Morgan County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $289,669 | $484,034 | $248,835 |
| Price Trend (Annual %) | 100.6% | 10.4% | 7.5% |
| Median Gross Rent | $1,024 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 4.6% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Morgan County is about 40% lower than in Colorado. Rent is about 42% lower than the Colorado 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 100.6% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Morgan County rose about 41.2% between 2015 and 2024, from $725 to $1,024. Over the same span, rent in Colorado rose about 75.6%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Morgan County.
Buying the median-priced home in Morgan County costs roughly 23.6 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 Colorado is about 22.9.
| Metric | Morgan County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $289,669 | $484,034 | $248,835 |
| Median Household Income | $72,623 | $95,803 | $80,455 |
| Price-to-Income Ratio | 4.0 | 5.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Morgan County rose about 194.9%, while median household income rose about 55.5% 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 | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.1% | 60.7% | 58.5% |
| Rental Rate | 30.6% | 31.0% | 31.2% |
| Vacancy Rate | 6.2% | 8.3% | 10.2% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Morgan County has a homeownership rate of 63.1%, higher than the Colorado average of 60.7%. Its housing vacancy rate is 6.2%, compared with 8.3% in Colorado.
Housing Stock
| Metric | Morgan County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.61 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1975 | 1985 | 1978 |
| Median Number of Rooms | 5.7 | 5.7 | 5.5 |
The typical housing unit in Morgan County was built around 1975. On average, 2.6 people live in a home with about 5.7 rooms, staying for about 14.0 years on average.
Morgan County, CO Housing Compared With Nearby Counties
Morgan County, CO is the 4th largest of the 5 counties compared here, 29,520 residents against a local median of 437,943. The measure that sets Morgan County, CO apart most is median rent: $1,024, 38% below the local median of $1,660.
Median home price tells the same story from another angle: $289,669 against a local median of $444,915, 35% below it. The counties themselves spread $877 on median rent, so Morgan County, CO sits at one end of an already wide local range rather than apart from it. Morgan County, CO has the 4th highest median rent of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Morgan County, CO | 29,520 | $289,669 #4/5 | $1,024 #4/5 | 67.3% #3/5 |
| Weld County, CO | 350,361 | $413,521 | $1,539 | 76.0% |
| Adams County, CO | 525,525 | $476,309 | $1,780 | 68.5% |
| Arapahoe County, CO | 647,849 | $489,057 | $1,890 | 65.0% |
| Logan County, CO | 20,892 | $182,353 | $1,013 | 66.3% |
Frequently Asked Questions
Common questions about the housing market in Morgan County, Colorado.
What is the median home price in Morgan County, Colorado?
The median home price in Morgan County, Colorado is $289,669, lower than the Colorado average of $484,034.
What is the average home price in Morgan County, Colorado?
The typical home price in Morgan County, Colorado, reported as the median sale price, is $289,669. 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, Colorado?
The median gross rent in Morgan County, Colorado is $1,024 per month, lower than the Colorado average of $1,761.
What was the median gross rent in Morgan County in 2020?
In 2020, the median gross rent in Morgan County, Colorado was $902 per month.
What is the price-to-rent ratio in Morgan County, Colorado?
The price-to-rent ratio in Morgan County, Colorado is about 23.6, meaning it would take roughly 23.6 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, Colorado?
Both home prices and rent are rising in Morgan County, up about 100.6% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Morgan County, Colorado?
63.1% of households in Morgan County, Colorado own their home, higher than the Colorado average of 60.7%.
What is the vacancy rate in Morgan County, Colorado?
The housing vacancy rate in Morgan County, Colorado is 6.2%, lower than the Colorado average of 8.3%.
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