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Affordable
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These days, finding an affordable place to live in the Morgan area can be challenging. Home prices in Morgan are now at a median cost of $135,118, lower than the Minnesota average of $345,793.
The average cost of rent is $1,037/mo in Morgan, primarily driven by the current value of real estate in the Morgan area. In Morgan, 17.76% of households rent, and 51.18% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Morgan is $5,353 per month. Households that rent pay about 19.37% of their income on rent here. Morgan’s most expensive areas are in the southwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Evan, MN: higher priced homes
- Clements, MN: higher priced homes
- Franklin, MN: equally priced homes
- Morton, MN: equally priced homes
- Cobden, MN: higher priced homes
- North Redwood, MN: higher priced homes
- Gilfillan, MN: higher priced homes
- Redwood Falls, MN: higher priced homes
- Springfield, MN: equally priced homes
- Fairfax, MN: higher priced homes
Cities with Similar Populations
- Navassa, NC: higher priced homes
- San Felipe Pueblo, NM: higher priced homes
- Rose, OK: equally priced homes
- Roberts, ID: higher priced homes
- Roann, IN: higher priced homes
- Ripley, MD: higher priced homes
- Redwood, NY: higher priced homes
- Point Lookout, NY: higher priced homes
- Pewamo, MI: higher priced homes
- Oak Grove, TX: higher priced homes
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