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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (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 a population of 4,455, 1,133 total housing units (homes and apartments), and a median house value of $583,573, real estate costs in Morgan are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Utah communities.

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.

The large homes that make up Morgan are primarily owner-occupied ( 78.82%).

Morgan homes and real estate are some of the newest in America. 41.88% 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 ( 24.20%), and between 1940-1969 ( 21.74%). There's also some housing in Morgan built before 1939 ( 12.18%).

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 112.93% over the last ten years, which is an average annual home appreciation rate of 7.85%, 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.

Over the last year, Morgan appreciation rates have trailed the rest of the nation. In the last twelve months, Morgan's appreciation rate has been -0.96%, 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 were at -0.57%, which equates to an annual appreciation rate of -2.25%.

Relative to Utah, our data show that Morgan's latest annual appreciation rate is lower than 60% of the other cities and towns in Utah.

Average Home Values

Median Home Value

$583,573

Morgan, UT Home Prices
> $1,274,000
$955,001 - $1,274,000
$637,001 - $955,000
$510,001 - $637,000
$382,001 - $510,000
$255,001 - $382,000
$127,001 - $255,000
$64,001 - $127,000
$0 - $64,000
3.3%
3.3%
14.1%
14.1%
29.0%
29.0%
18.4%
18.4%
21.6%
21.6%
12.1%
12.1%
0.5%
0.5%
0.7%
0.7%
0.3%
0.3%
0% 100.0%
% of Homes
High

for Utah

Very High

for nation

Number of Homes And Apartments:

1,133

Morgan Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,709 / per month

Homeownership Rate

Owners
Renters
78.8%
78.8%
21.2%
21.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.1%
4.1%
95.9%
95.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
41.9%
41.9%
24.2%
24.2%
21.7%
21.7%
12.2%
12.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
86.2%
86.2%
3.9%
3.9%
9.9%
9.9%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
0.0%
0.0%
15.0%
15.0%
30.7%
30.7%
22.7%
22.7%
31.6%
31.6%
0% 100.0%
% of Homes

Popular Communities Near Morgan, UT

Zip Codes in Morgan, UT