Morgan County, Tennessee 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 60% below the Tennessee median Cheaper than 85% of counties in Tennessee$102,917
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Median rent 35% below the Tennessee median$769
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Morgan County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $102,917 | $255,786 | $248,835 |
| Price Trend (Annual %) | 58.5% | 9.9% | 7.5% |
| Median Gross Rent | $769 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 2.1% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Morgan County is about 60% lower than in Tennessee. Rent is about 35% lower than the Tennessee 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 58.5% and 2.1% a year respectively. Home prices are changing faster.
Median rent in Morgan County rose about 20.4% between 2015 and 2024, from $639 to $769. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Morgan County.
Buying the median-priced home in Morgan County costs roughly 11.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Morgan County. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Morgan County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $102,917 | $255,786 | $248,835 |
| Median Household Income | $65,837 | $69,901 | $80,455 |
| Price-to-Income Ratio | 1.6 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Morgan County fell about 26.9%, while median household income rose about 67.1% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Morgan County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.2% | 60.1% | 58.5% |
| Rental Rate | 12.7% | 29.7% | 31.2% |
| Vacancy Rate | 16.1% | 10.2% | 10.2% |
| Median Tenure (years) | 19.0 | 14.0 | 15.0 |
| Median Year Moved In | 2007 | 2012 | 2011 |
Morgan County has a homeownership rate of 71.2%, higher than the Tennessee average of 60.1%. Its housing vacancy rate is 16.1%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Morgan County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.68 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1982 | 1986 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Morgan County was built around 1982. On average, 2.7 people live in a home with about 5.8 rooms, staying for about 19.0 years on average.
Morgan County, TN Housing Compared With Nearby Counties
Morgan County, TN is the smallest of the 5 counties compared here, 21,361 residents against a local median of 59,373. The measure that sets Morgan County, TN apart most is median home price: $102,917, 58% below the local median of $244,327.
The counties themselves spread $252,090 on median home price, so Morgan County, TN sits at one end of an already wide local range rather than apart from it. Morgan County, TN has the 4th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Morgan County, TN | 21,361 | $102,917 #4/5 | $769 #4/5 | 84.9% #1/5 |
| Roane County, TN | 55,193 | $66,481 | $784 | 78.1% |
| Scott County, TN | 22,110 | $318,571 | $686 | 71.6% |
| Cumberland County, TN | 63,553 | $278,289 | $838 | 80.2% |
| Anderson County, TN | 79,153 | $210,366 | $1,031 | 71.7% |
Frequently Asked Questions
Common questions about the housing market in Morgan County, Tennessee.
What is the median home price in Morgan County, Tennessee?
The median home price in Morgan County, Tennessee is $102,917, lower than the Tennessee average of $255,786.
What is the average home price in Morgan County, Tennessee?
The typical home price in Morgan County, Tennessee, reported as the median sale price, is $102,917. 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, Tennessee?
The median gross rent in Morgan County, Tennessee is $769 per month, lower than the Tennessee average of $1,188.
What was the median gross rent in Morgan County in 2020?
In 2020, the median gross rent in Morgan County, Tennessee was $689 per month.
What is the price-to-rent ratio in Morgan County, Tennessee?
The price-to-rent ratio in Morgan County, Tennessee is about 11.1, meaning it would take roughly 11.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Morgan County.
Are home prices or rent rising faster in Morgan County, Tennessee?
Both home prices and rent are rising in Morgan County, up about 58.5% and 2.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Morgan County, Tennessee?
71.2% of households in Morgan County, Tennessee own their home, higher than the Tennessee average of 60.1%.
What is the vacancy rate in Morgan County, Tennessee?
The housing vacancy rate in Morgan County, Tennessee is 16.1%, higher than the Tennessee average of 10.2%.
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