Morgan, UT Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Morgan, UT Housing Market Trends

With 4,273 people, 1,293 houses or apartments, and a median cost of homes of $464,013, 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.

Morgan is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Morgan than is found in 98% of the communities in America.

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 83.76% of Morgan's homes, and 66.00% 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. 39.78% 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 ( 32.54%), and between 1940-1969 ( 17.50%). There's also some housing in Morgan built before 1939 ( 10.18%).

Morgan Home Appreciation Rates

In the last 10 years, Morgan has experienced some of the highest home appreciation rates of any community in the nation. Morgan real estate appreciated 63.79% over the last ten years, which is an average annual home appreciation rate of 5.06%, putting Morgan in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Morgan definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

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 7.96%, which is higher than appreciation rates in 95.66% 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 2.71%, which equates to an annual appreciation rate of 11.30%.

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

Average Home Values

 
info

Median Home Value:
$464,013

Morgan, UT HOME PRICES

> $1,281,000
0.8%
0.8%
$961,001 - $1,281,000
1.6%
1.6%
$641,001 - $961,000
13.3%
13.3%
$513,001 - $641,000
26.0%
26.0%
$385,001 - $513,000
18.3%
18.3%
$256,001 - $385,000
30.7%
30.7%
$128,001 - $256,000
8.7%
8.7%
$64,001 - $128,000
0.2%
0.2%
$0 - $64,000
0.4%
0.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for UT

Value Relative To Nation

Number Of Homes And Apartments:
1,293

Morgan Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
107.85% 3.55%
6
8
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,575 / per month

Homeownership Rate

Owners
83.8%
83.8%
Renters
16.2%
16.2%
Vacant
0.3%
0.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
39.8%
39.8%
1970 - 1999
32.5%
32.5%
1940 - 1969
17.5%
17.5%
1939 or Older
10.2%
10.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
87.9%
87.9%
Townhomes
7.1%
7.1%
Small Apt. Buildings
4.3%
4.3%
Apt. Complexes
0.0%
0.0%
Mobile Homes
0.7%
0.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.3%
0.3%
1 Bedroom
0.8%
0.8%
2 Bedrooms
9.8%
9.8%
3 Bedrooms
32.8%
32.8%
4 Bedrooms
33.2%
33.2%
5 or more bedrooms
23.1%
23.1%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Morgan

Popular Communities Near Morgan, UT

Zip Codes in Morgan, UT