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 2,467 people, 982 houses or apartments, and a median cost of homes of $128,215, house prices in Morgantown are solidly below the national average.
Single-family detached homes are the single most common housing type in Morgantown, accounting for 45.41% of the city's housing units. Other types of housing that are prevalent in Morgantown include large apartment complexes or high rise apartments ( 22.89%), mobile homes or trailers ( 16.03%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 13.99%).
Renters dominate Morgantown's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.
There is a lot of housing in Morgantown built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Morgantown built between 1940-1969 ( 36.24%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.66%). There's also some housing in Morgantown built before 1939 ( 1.95%).
Real estate appreciation rates in Morgantown's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.08% during the period.
NeighborhoodScout's data show that during the latest twelve months, Morgantown's appreciation rate, at 6.39%, has been at or slightly above the national average. In the latest quarter, Morgantown's appreciation rate has been -2.32%, which annualizes to a rate of -8.95%.
Notably, Morgantown's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Kentucky, our data show that Morgantown's latest annual appreciation rate is higher than 80% of the other cities and towns in Kentucky.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Morgantown differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Morgantown - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Morgantown real estate investment or home purchase decisions.
$128,215
for Kentucky
for nation
982
$890 / per month