Morgantown, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Morgantown Neighborhoods Since 2000




Morgantown, 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

Morgantown Housing Market Information

With 2,475 people, 1,098 houses or apartments, and a median cost of homes of $104,211, 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 53.85% of the city's housing units. Other types of housing that are prevalent in Morgantown include duplexes, homes converted to apartments or other small apartment buildings ( 18.27%), mobile homes or trailers ( 16.97%), and a few large apartment complexes or high rise apartments ( 9.70%).

People in Morgantown primarily live in small (one, two or no bedroom) single-family detached homes. Morgantown has a mixture of owner-occupied and renter-occupied housing.

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 ( 24.59%). A lesser amount of the housing stock also hails from before 1939 ( 8.74%). There's also some housing in Morgantown built between 2000 and later ( 6.58%).

Morgantown Home Appreciation Rates

In the last 10 years, Morgantown has experienced some of the highest home appreciation rates of any community in the nation. Morgantown real estate appreciated 16.82% over the last ten years, which is an average annual home appreciation rate of 1.57%, putting Morgantown in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Morgantown definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Morgantown's appreciation rate, at 4.02%, has been at or slightly above the national average. In the latest quarter, Morgantown's appreciation rate has been -2.64%, which annualizes to a rate of -10.16%.

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 50% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$104,211

Morgantown, KY HOME PRICES

Value Range
> $1,088,000 0.0
$816,001 - $1,088,000 0.0
$544,001 - $816,000 0.0
$435,001 - $544,000 1.0
$327,001 - $435,000 6.0
$217,001 - $327,000 4.7
$109,001 - $217,000 29.4
$54,001 - $109,000 34.9
$0 - $54,000 24.1

Average for KY
Low for Nation

Value Relative to Nation Value Relative to State
74.8212820813313 53.6340852130326

Number Of Homes And Apartments:
1,098

Morgantown 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
35.15% 1.76% 5 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$631 / per month

Homeownership Rate

Homeownership
Owners 35.17
Renters 64.83
Vacant 4.94

Housing Market Details

 

Age of Homes

AGE OF Morgantown HOMES
2000 or Newer 6.6
1970 - 1999 60.1
1940 - 1969 24.6
1939 or Older 8.7

Types of Homes

TYPE OF Morgantown HOMES
Single-Family 53.9
Townhomes 0.9
Small Apt. Buildings 18.3
Apt. Complexes 9.7
Mobile Homes 17.0
Other 0.3

Home Size

SIZE OF Morgantown HOMES
No Bedroom 3.03
1 Bedroom 10.48
2 Bedrooms 40.35
3 Bedrooms 33.59
4 Bedrooms 10.22
5 or more bedrooms 2.34

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Zip Codes in Morgantown, KY