Morgan, UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Morgan, UT 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

Morgan Housing Market Information

With a population of 4,049, 1,245 total housing units (homes and apartments), and a median house value of $358,408, Morgan house prices are not only among the most expensive in Utah, Morgan real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Morgan, accounting for 88.56% of the city's housing units. Other types of housing that are prevalent in Morgan include row houses and other attached homes ( 5.68%), duplexes, homes converted to apartments or other small apartment buildings ( 4.22%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Morgan. Owner-occupied housing accounts for 82.57% of Morgan's homes, and 63.01% have either three or four bedrooms, which is average sized relative to America.

Morgan homes and real estate are some of the newest in America. 33.31% of Morgan's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Morgan real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 31.47%), and between 1940-1969 ( 22.33%). There's also some housing in Morgan built before 1939 ( 12.89%).

Morgan Home Appreciation Rates

Appreciation rates for homes in Morgan have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.54%, which ranks in the top 30% nationwide. This equates to an annual average Morgan house appreciation rate of 1.19%.

Appreciation rates are so strong in Morgan that despite a nationwide downturn in the housing market, Morgan real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Morgan appreciation rates continue to be some of the highest in America, at 7.92%, which is higher than appreciation rates in 86.34% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Morgan. Morgan appreciation rates in the latest quarter were at 1.99%, which equates to an annual appreciation rate of 8.18%.

Importantly, this makes Morgan one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Utah, our data show that Morgan's latest annual appreciation rate is lower than 50% of the other cities and towns in Utah.

Average Home Values

 

Median Home Value:
$358,408

Morgan, UT HOME PRICES

Value Range
> $1,252,000 2.7
$939,001 - $1,252,000 0.6
$626,001 - $939,000 8.9
$501,001 - $626,000 12.9
$376,001 - $501,000 11.2
$250,001 - $376,000 40.3
$125,001 - $250,000 21.1
$63,001 - $125,000 1.3
$0 - $63,000 1.2

Very High for UT
Very High for Nation

Value Relative to Nation Value Relative to State
11.5902964959569 13.4228187919463

Number Of Homes And Apartments:
1,245

Morgan Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
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
55.15% 2.58% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,206 / per month

Homeownership Rate

Homeownership
Owners 82.57
Renters 17.43
Vacant 4.45

Housing Market Details

 

Age of Homes

AGE OF Morgan HOMES
2000 or Newer 33.3
1970 - 1999 31.5
1940 - 1969 22.3
1939 or Older 12.9

Types of Homes

TYPE OF Morgan HOMES
Single-Family 88.6
Townhomes 5.7
Small Apt. Buildings 4.2
Apt. Complexes 0.9
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Morgan HOMES
No Bedroom 0.31
1 Bedroom 1.07
2 Bedrooms 15.27
3 Bedrooms 35.53
4 Bedrooms 27.48
5 or more bedrooms 20.34

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Zip Codes in Morgan, UT