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 11,835 people, 4,743 houses or apartments, and a median cost of homes of $101,029, house prices in Morgan City are solidly below the national average.
Single-family detached homes are the single most common housing type in Morgan City, accounting for 72.60% of the city's housing units. Other types of housing that are prevalent in Morgan City include large apartment complexes or high rise apartments ( 11.52%), duplexes, homes converted to apartments or other small apartment buildings ( 9.17%), and a few mobile homes or trailers ( 5.18%).
The most prevalent building size and type in Morgan City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.72% owning and 43.28% 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. Morgan City's housing was primarily built during this period, from the '40s through the '60s. A full 52.30% of the city's housing hails from this era. Other housing ages represented in Morgan City include homes built between 1970-1999 ( 38.41%) and housing constructed before 1939 ( 6.09%). There's also some housing in Morgan City built between 2000 and later ( 3.20%).
Vacant housing appears to be an issue in Morgan City. Fully 14.34% of the housing stock is classified as vacant. Left unchecked, vacant Morgan City homes and apartments can be a drag on the real estate market, holding Morgan City 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.
In the last 10 years, Morgan City has experienced some of the highest home appreciation rates of any community in the nation. Morgan City real estate appreciated 27.46% over the last ten years, which is an average annual home appreciation rate of 2.46%, putting Morgan City in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Morgan City definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Morgan City appreciation rates have trailed the rest of the nation. In the last twelve months, Morgan City's appreciation rate has been -2.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Morgan City were at -0.90%, which equates to an annual appreciation rate of -3.57%.
Notably, Morgan City's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Louisiana, our data show that Morgan City's latest annual appreciation rate is lower than 90% of the other cities and towns in Louisiana.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Morgan City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Morgan City - 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 Morgan City real estate investment or home purchase decisions.
|$788,001 - $1,051,000||0.0|
|$525,001 - $788,000||0.9|
|$420,001 - $525,000||0.5|
|$315,001 - $420,000||4.2|
|$210,001 - $315,000||9.9|
|$105,001 - $210,000||42.5|
|$52,001 - $105,000||26.6|
|$0 - $52,000||15.4|
|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 Morgan City HOMES|
|2000 or Newer||3.2|
|1970 - 1999||38.4|
|1940 - 1969||52.3|
|1939 or Older||6.1|
|TYPE OF Morgan City HOMES|
|Small Apt. Buildings||9.2|
|SIZE OF Morgan City HOMES|
|5 or more bedrooms||2.94|