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 a population of 1,000, 487 total housing units (homes and apartments), and a median house value of $287,774, Morgantown real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Morgantown, accounting for 85.85% of the town's housing units. Other types of housing that are prevalent in Morgantown include duplexes, homes converted to apartments or other small apartment buildings ( 5.50%), mobile homes or trailers ( 4.91%), and a few large apartment complexes or high rise apartments ( 3.34%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Morgantown. Owner-occupied housing accounts for 71.66% of Morgantown's homes, and 51.87% have either three or four bedrooms, which is average sized relative to America.
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. Morgantown's housing was primarily built during this period, from the '40s through the '60s. A full 43.61% of the town's housing hails from this era. Other housing ages represented in Morgantown include homes built before 1939 ( 31.63%) and housing constructed between 1970-1999 ( 23.97%).
Appreciation rates for homes in Morgantown have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 97.99%, which ranks in the top 40% nationwide. This equates to an annual average Morgantown house appreciation rate of 7.07%.
Over the last year, Morgantown appreciation rates have trailed the rest of the nation. In the last twelve months, Morgantown's appreciation rate has been 5.17%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Morgantown were at -0.17%, which equates to an annual appreciation rate of -0.68%.
Notably, Morgantown's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Indiana, our data show that Morgantown's latest annual appreciation rate is lower than 60% of the other cities and towns in Indiana.
$287,774
for Indiana
for nation
487
$1,421 / per month