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
With 985 people, 326 houses or apartments, and a median cost of homes of $187,277, Morgantown real estate is some of the most expensive in Indiana, although Morgantown home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Morgantown, accounting for 81.36% 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 ( 8.40%), mobile homes or trailers ( 4.72%), and a few large apartment complexes or high rise apartments ( 3.41%).
The most prevalent building size and type in Morgantown are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 53.32% owning and 46.68% 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. Morgantown's housing was primarily built during this period, from the '40s through the '60s. A full 39.37% of the town's housing hails from this era. Other housing ages represented in Morgantown include homes built before 1939 ( 32.02%) and housing constructed between 1970-1999 ( 23.36%). There's also some housing in Morgantown built between 2000 and later ( 5.25%).
Vacant housing appears to be an issue in Morgantown. Fully 14.44% of the housing stock is classified as vacant. Left unchecked, vacant Morgantown homes and apartments can be a drag on the real estate market, holding Morgantown real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
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 9.46%, which ranks in the top 30% nationwide. This equates to an annual average Morgantown house appreciation rate of 0.91%.
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 1.98%, 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 -0.60%, which equates to an annual appreciation rate of -2.40%.
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 70% of the other cities and towns in Indiana.
|$816,001 - $1,089,000||0.4|
|$544,001 - $816,000||0.6|
|$435,001 - $544,000||4.8|
|$327,001 - $435,000||13.1|
|$218,001 - $327,000||19.1|
|$109,001 - $218,000||39.1|
|$55,001 - $109,000||17.2|
|$0 - $55,000||5.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Morgantown HOMES|
|2000 or Newer||5.2|
|1970 - 1999||23.4|
|1940 - 1969||39.4|
|1939 or Older||32.0|
|TYPE OF Morgantown HOMES|
|Small Apt. Buildings||8.4|
|SIZE OF Morgantown HOMES|
|5 or more bedrooms||3.15|