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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Morgantown, IN Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Morgantown, IN Housing Market Trends

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%).

Morgantown Home Appreciation Rates

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.

Average Home Values

Median Home Value

$287,774

Morgantown, IN Home Prices
> $1,421,000
$1,066,001 - $1,421,000
$711,001 - $1,066,000
$569,001 - $711,000
$426,001 - $569,000
$284,001 - $426,000
$142,001 - $284,000
$71,001 - $142,000
$0 - $71,000
0.5%
0.5%
0.0%
0.0%
3.7%
3.7%
9.7%
9.7%
15.8%
15.8%
26.1%
26.1%
37.7%
37.7%
5.4%
5.4%
1.1%
1.1%
0% 100.0%
% of Homes
High

for Indiana

Average

for nation

Number of Homes And Apartments:

487

Morgantown Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,421 / per month

Homeownership Rate

Owners
Renters
71.7%
71.7%
28.3%
28.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.3%
4.3%
95.7%
95.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
0.8%
0.8%
24.0%
24.0%
43.6%
43.6%
31.6%
31.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
85.9%
85.9%
0.4%
0.4%
5.5%
5.5%
3.3%
3.3%
4.9%
4.9%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
14.9%
14.9%
32.6%
32.6%
42.8%
42.8%
9.0%
9.0%
0.6%
0.6%
0% 100.0%
% of Homes

Popular Neighborhoods in Morgantown

Zip Codes in Morgantown, IN