Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 11,453 people, 4,322 houses or apartments, and a median cost of homes of $341,841, Fort Morgan real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Fort Morgan, accounting for 60.57% of the city's housing units. Other types of housing that are prevalent in Fort Morgan include large apartment complexes or high rise apartments ( 15.08%), mobile homes or trailers ( 10.05%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.63%).
The most prevalent building size and type in Fort Morgan are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.80% owning and 46.20% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Fort Morgan's housing was primarily built during this period, from the '40s through the '60s. A full 34.38% of the city's housing hails from this era. Other housing ages represented in Fort Morgan include homes built between 1970-1999 ( 33.58%) and housing constructed before 1939 ( 19.05%). There's also some housing in Fort Morgan built between 2000 and later ( 13.00%).
In the last 10 years, Fort Morgan has experienced some of the highest home appreciation rates of any community in the nation. Fort Morgan real estate appreciated 135.77% over the last ten years, which is an average annual home appreciation rate of 8.96%, putting Fort Morgan in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Fort Morgan definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Fort Morgan appreciation rates have trailed the rest of the nation. In the last twelve months, Fort Morgan's appreciation rate has been 4.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fort Morgan were at -0.63%, which equates to an annual appreciation rate of -2.49%.
Notably, Fort Morgan's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Colorado, our data show that Fort Morgan's latest annual appreciation rate is higher than 70% of the other cities and towns in Colorado.
$341,841
for Colorado
for nation
4,322
$1,916 / per month