Morganfield, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Morganfield, KY Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Morganfield Housing Market Information

With a population of 3,578, 1,590 total housing units (homes and apartments), and a median house value of $101,197, house prices in Morganfield are solidly below the national average.

Single-family detached homes are the single most common housing type in Morganfield, accounting for 74.69% of the city's housing units. Other types of housing that are prevalent in Morganfield include large apartment complexes or high rise apartments ( 11.43%), duplexes, homes converted to apartments or other small apartment buildings ( 7.22%), and a few mobile homes or trailers ( 5.46%).

The most prevalent building size and type in Morganfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.76% owning and 35.24% 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. Morganfield's housing was primarily built during this period, from the '40s through the '60s. A full 36.01% of the city's housing hails from this era. Other housing ages represented in Morganfield include homes built between 1970-1999 ( 33.56%) and housing constructed before 1939 ( 20.99%). There's also some housing in Morganfield built between 2000 and later ( 9.44%).

Morganfield Home Appreciation Rates

Appreciation rates for homes in Morganfield have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.65%, which ranks in the top 30% nationwide. This equates to an annual average Morganfield house appreciation rate of 1.38%.

Over the last year, Morganfield appreciation rates have trailed the rest of the nation. In the last twelve months, Morganfield's appreciation rate has been -0.09%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Morganfield were at 0.56%, which equates to an annual appreciation rate of 2.24%.

Relative to Kentucky, our data show that Morganfield's latest annual appreciation rate is lower than 90% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$101,197

Morganfield, KY HOME PRICES

Value Range
> $1,027,000 1.3
$770,001 - $1,027,000 0.8
$514,001 - $770,000 0.1
$411,001 - $514,000 0.7
$308,001 - $411,000 2.9
$206,001 - $308,000 11.4
$103,001 - $206,000 30.0
$51,001 - $103,000 34.3
$0 - $51,000 18.4

Average for KY
Low for Nation

Value Relative to Nation Value Relative to State
76.8457752255948 56.6416040100251

Number Of Homes And Apartments:
1,590

Morganfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
41.52% 2.03% 7 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$775 / per month

Homeownership Rate

Homeownership
Owners 64.76
Renters 35.24
Vacant 9.56

Housing Market Details

 

Age of Homes

AGE OF Morganfield HOMES
2000 or Newer 9.4
1970 - 1999 33.6
1940 - 1969 36.0
1939 or Older 21.0

Types of Homes

TYPE OF Morganfield HOMES
Single-Family 74.7
Townhomes 1.2
Small Apt. Buildings 7.2
Apt. Complexes 11.4
Mobile Homes 5.5
Other 0.0

Home Size

SIZE OF Morganfield HOMES
No Bedroom 0.85
1 Bedroom 10.81
2 Bedrooms 31.68
3 Bedrooms 42.43
4 Bedrooms 12.51
5 or more bedrooms 1.71

Popular Neighborhoods in Morganfield

Zip Codes in Morganfield, KY