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Morgan County, IN

Washington

RANK #447 / 996 NAT  ·  #21 / 28 IN  ·  POP 71,757

1YR FORECAST: +1.1%

5YR OUTLOOK: +25%

#3 Highest GDP Growth
Morgan County's housing market is projected to grow +1.1% over the next year, tracking near the national average.

[01] Why Morgan County?

Martinsville, the county seat of Morgan County, earned the nickname "City of Mineral Water" due to its historic mineral springs and sanitariums that attracted visitors for decades. Located southwest of Indianapolis, Morgan County offers a blend of flat plains and rolling hills, a unique landscape shaped by ancient glaciers. Commuting to Indianapolis or Bloomington is common, with major highways like I-69 and State Road 67 providing connections. The county also features extensive woodlands and waterways, including the White River, offering opportunities for hiking, fishing, and kayaking.

Life in Morgan County often involves a small-town, family-centered atmosphere with access to parks and outdoor activities. The public schools in Morgan County are above average, and there are several public and private school options. The local economy is rooted in agriculture, manufacturing, and healthcare. Recent economic developments include significant investment in data center projects, with hundreds of acres rezoned for these facilities. The county also focuses on infrastructure improvements and regional collaboration to enhance its communities.

[02] Market Snapshot

Housing Ratio
6.1x

Above national median (4.7x)

GDP Growth
+18.0%

Well above national median

Home Prices
+1.3%

Below national median

Climate & Terrain
-0.9

Below-average climate & terrain

Price/Rent
12x

Below national median (13x)

Housing is fairly valued at 6.1x relative to local economic output. The typical U.S. county is 4–6x.

[03] Top Employers

  1. 1
    Federal, State, & Local Govt. Government
    2,500+
  2. 2
    Health Care and Social Assistance Healthcare
    1,000+
  3. 3
    Retail Trade Retail
  4. 4
    Accommodation and Food Service Hospitality
  5. 5
    Construction Other
  6. 6
    Nice-Pak Products Inc. Manufacturing
  7. 7
    IU Health Morgan Hospital Healthcare
  8. 8
    TOA LLC Manufacturing
  9. 9
    Franciscan Health Mooresville Healthcare
  10. 10
    Walmart Supercenter (Martinsville) Retail

Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.

[04] Home Value Growth vs National

Morgan County U.S. National

The Numbers

DEMOGRAPHICS
Population
71,757
+0.51% YoY
Median Household Income
$79,134
Median Home Value
$200,600
+1.34% 12mo
Median Rent
$952
Average Annual Pay
$49,967
+4.0% YoY
Employment
15,502
+1.1% YoY
Income-to-Home-Value
0.3945
More affordable than average
Migration Inflow
4.31%
of pop. from another state
Bachelor's Degree+
20.3%
of residents (national avg: 33%)

Market Activity

REAL ESTATE
Median Sale Price
$270,000
Days on Market
81
Slower market
Months of Supply
3.4
Balanced market
Sale-to-List Ratio
96.3%
Negotiation room for buyers
Sold Above List
14.0%
Listings w/ Price Drops
25.9%
Building Permits (2024)
330
Single-Family Permits
328

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Crime & Safety

B+
SAFETY
GRADE
Homicide Rate
2.0
per 100K · nat avg 6.3
Firearm Fatalities
14.9
per 100K · nat avg 14.8
Injury Deaths
102.9
per 100K · nat avg 76.3
vs National Average
Well below national avg
based on homicide rate

Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →

[06] Capital Investment

$1,068M
TOTAL
PROJECT AMOUNT STATUS
Google Data Center Campus (Project Louie)
Google
$1,000M Planned
AES Indiana Substation for Data Center
AES Indiana
$68M Planned

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[07] Score Breakdown

GDP Growth +18.0% 100 percentile
Population Growth +0.5% 53 percentile
Income Growth +10.1% 81 percentile
Vacancy Rate 1.1% 45 percentile
Home Price Change +1.3% 50 percentile
Rent Growth +2.3% 39 percentile
Price/Rent 12x 66 percentile

Bars show percentile rank among all 996 counties.

[08] Frequently Asked Questions

Is Morgan County, IN a good place to move to?

Morgan County scores 55/100 on the Boom Town Index, landing in the middle of the pack among 996 U.S. counties (#447). Median household income is $79,134 and job growth is running at +1.1%. The data points to a county with mixed signals — some positive indicators alongside areas that lag faster-growing peers.

Is Morgan County affordable?

By national standards, Morgan County is quite affordable. Homes here have a median value of $200,600, and the income-to-home-value ratio of 0.39 is well above the U.S. average — especially with median rent at just $952/month. Residents can generally buy a home without being cost-burdened.

Is Morgan County growing or shrinking?

Morgan County is growing on multiple fronts. Population is up +0.5% year-over-year while employers added jobs at a +1.1% clip. Home values shifted +1.3% in the past year.

Are people moving to Morgan County?

There's a moderate stream of newcomers. About 4.31% of residents moved from another state, which is above average and suggests Morgan County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.

[09] Similar Counties by Size & Score

Floyd County, IN 58 Clark County, IN 60 Howard County, IN 60 Vigo County, IN 49 Lake County, IN 62 Hendricks County, IN 48 Butler County, KS 55 Jefferson County, TN 55