1st Advantage MortgageThe median Morgan County household earns $79,429, and 9% of residents live below the poverty line. A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's Indiana license first.
On this page
- Who lives in Morgan County
- What Morgan County households earn
- Renting and owning in Morgan County
- Employment and commuting in Morgan County
- Places inside Morgan County
- Regional comparison for Morgan County
- Debt-to-income at Morgan County's medians
- Morgan County residents: age, schooling, coverage
- Before borrowing in Morgan County
- Indiana rules that apply in Morgan County
- Four steps for Morgan County borrowers
- Nearby and statewide guides
- Frequently asked questions
Who lives in Morgan County
With an estimated 72,659 residents (ACS 2020 to 2024), Morgan County ranks 24th of 92 in Indiana for population. It covers 404 square miles of land, or about 180 people per square mile. The federal metro definitions (OMB, July 2023) place it in the Indianapolis-Carmel-Greenwood, IN metropolitan area. Martinsville is the biggest of its 8 Census places, at roughly 11,933 people (16% of the county total).
What Morgan County households earn
At $79,429, the typical Morgan County household income is 21% above the median U.S. county ($65,681). Only 12 Indiana counties post a higher median.
| Income band | Share in Morgan County | Difference from Indiana |
|---|---|---|
| Under $35,000 | 19.1% | -3.5 pts |
| $35,000 to $99,999 | 41.0% | -2.4 pts |
| $100,000 to $199,999 | 30.9% | +5.1 pts |
| $200,000 or more | 9.0% | +0.8 pts |
Some 19% of households here live on less than $35,000 a year; 40% have six-figure incomes. 9.3% of residents fall below the federal poverty line (statewide: 12.3%). For a borrower in Morgan County, the county median is only context: a lender looks at the income you can document, so pay stubs, benefit letters or tax returns matter more than any average.
Renting and owning in Morgan County
Median gross rent, utilities included, comes to $1,042 in Morgan County versus $1,062 statewide. Rent takes 30% or more of income for 48% of renter households here. With a median value of $237,600, a typical Morgan County house costs 3.0 times what the median household earns in a year. Owners occupy 82% of homes. Half the housing stock was built before 1981.
| Morgan County | Indiana | U.S. county median | |
|---|---|---|---|
| Median gross rent | $1,042/mo | $1,062/mo | $877/mo |
| Median home value | $237,600 | $218,200 | $185,300 |
| Owners | 82% | 71% | 75% |
| Rent-burdened renters | 48% | 48% | 45% |
| Burdened owners | 18% | 20% | n/a |
In an owner-heavy county like Morgan County, many borrowers can also choose a home equity loan or line of credit. Those can price lower but put the house on the line, so compare the two in writing; our personal loan vs. HELOC guide walks through it.
Employment and commuting in Morgan County
By the Census industry count, 20% of employed Morgan County residents work in education and health care and 14% in manufacturing. Transportation, warehousing and utilities stands out: 11% of workers here, versus 6% statewide. Averaged over the five survey years, 4.2% of the labor force was out of work and looking. About 79% drive to work alone and 23% have trips of 45 minutes or more. Only 3.6% of homes here go without a vehicle.
| Where residents work | Morgan County | Difference from Indiana |
|---|---|---|
| Education and health care | 20.4% | -3.1 pts |
| Manufacturing | 13.9% | -4.1 pts |
| Transportation, warehousing and utilities | 11.2% | +5.0 pts |
| Construction | 10.4% | +3.8 pts |
| Professional and administrative services | 9.4% | +0.1 pts |
| Retail trade | 8.8% | -1.9 pts |
Industry shapes paperwork. Salaried and public jobs are easy to verify, while hourly, tipped, commission or contract earners in Morgan County should have bank statements and tax returns ready.
Places inside Morgan County
Here are the 8 most populous of the county's 8 Census places, with income and rent from the same 2020 to 2024 survey. About 40% of Morgan County residents live in one of the 8. Among places of 500 or more people, median income runs from $54,007 in Morgantown to $93,838 in Painted Hills. Rent is cheapest in Morgantown ($908) and steepest in Monrovia ($1,385). No Morgan County place has a separate guide yet; this county page serves all 8.
| Name | Kind | Pop. | Income | Rent | Miles |
|---|---|---|---|---|---|
| Martinsville | city | 11,933 | $60,177 | $983 | 5 mi |
| Mooresville | town | 9,751 | $68,983 | $1,089 | 9 mi |
| Brooklyn | town | 2,570 | $58,176 | $1,011 | 6 mi |
| Monrovia | town | 2,055 | $92,344 | $1,385 | 7 mi |
| Morgantown | town | 1,308 | $54,007 | $908 | 13 mi |
| Painted Hills | CDP | 948 | $93,838 | n/a | 8 mi |
| Paragon | town | 537 | $73,750 | $1,019 | 9 mi |
| Bethany | town | 67 | n/a | n/a | 5 mi |
A CDP is a named community without its own municipal government.
Regional comparison for Morgan County
Six nearby counties, 19 to 25 miles away by the straight-line distance between their centers. Hendricks County leads the group on income ($101,144), Owen County trails ($62,464), and Morgan County out-earns 4 of the six.
| County | Miles | Median household income | Median rent | Homeownership |
|---|---|---|---|---|
| Morgan County | - | $79,429 | $1,042/mo | 82% |
| Johnson County, IN | 19 mi | $90,454 | $1,271/mo | 73% |
| Hendricks County, IN | 20 mi | $101,144 | $1,436/mo | 78% |
| Monroe County, IN | 23 mi | $65,868 | $1,193/mo | 54% |
| Brown County, IN | 23 mi | $78,528 | $895/mo | 87% |
| Owen County, IN | 24 mi | $62,464 | $911/mo | 81% |
| Putnam County, IN | 25 mi | $78,378 | $884/mo | 75% |
Debt-to-income at Morgan County's medians
How much room does a median Morgan County budget have? Take median income, subtract median rent, and check what is left under a few common debt-to-income limits.
- $6,619 a month: gross income for a household at the Morgan County median
- Less median rent of $1,042, which is 16% of it
- $1,341: what a 36% ratio leaves once rent is paid
- 43% debt-to-income limit: $1,804 left for all other debt payments
Two-income households and single earners in Morgan County land in very different places on this math, so run it for your own budget.
Morgan County residents: age, schooling, coverage
Degree holders: 21% of adults over 25. 5.1% of residents have no health coverage.
| People and households | Morgan County | Indiana | Median county |
|---|---|---|---|
| Median age | 41.7 | 38.1 | 41.5 |
| Bachelor's or higher | 21.1% | 29.5% | 22.2% |
| No high school diploma | 9.7% | 9.6% | n/a |
| No health insurance | 5.1% | 7.4% | 7.8% |
| No vehicle | 3.6% | 6.2% | 5.4% |
| Work from home | 11.6% | 10.7% | 8.7% |
| Poverty rate | 9.3% | 12.3% | 13.2% |
| Unemployment (ACS) | 4.2% | 4.3% | 4.4% |
| Travel time to work | Workers |
|---|---|
| Under 15 min | 19.8% |
| 15 to 29 min | 28.3% |
| 30 to 44 min | 28.8% |
| 45 to 59 min | 13.6% |
| 60+ min | 9.5% |
Before borrowing in Morgan County
Based on the Morgan County data above, these borrowing questions are most likely to matter locally.
- Vehicle repairs. 23% of Morgan County workers commute 45+ minutes, so a breakdown can cost a paycheck. Get two written estimates.
- Tight rental budgets. With 48% of Morgan County renters cost-burdened, test a new payment against a lean month.
- Debt consolidation. One fixed payment can save money only if the written APR and fees beat what you pay now (guide).
Indiana rules that apply in Morgan County
Morgan County borrowers fall under statewide rules, enforced by the Indiana Department of Financial Institutions. Problems with a lender can also go to the CFPB. The Indiana guide covers state rules in more detail.
Four steps for Morgan County borrowers
Steps that save money for Morgan County residents:
- Know the exact dollar figure you need before talking to a lender.
- Compare the total repaid on every offer, not just the payment.
- Look the lender up with the state regulator first.
- Ask about early-payoff penalties.
Nearby and statewide guides
For statewide rules and data, see the Indiana guide.
Frequently asked questions
What is the median household income in Morgan County?
$79,429 a year in the 2020 to 2024 Census survey, versus $71,957 for Indiana. It ranks 13th of 92 in the state.
How does Morgan County rent compare with Indiana?
$1,042 locally versus $1,062 for the state, 2% below.
Should Morgan County homeowners use home equity instead?
Maybe, but weigh the risk: 82% of Morgan County homes are owner-occupied, and a home-equity loan or line is secured by the house while a personal loan usually is not.
I live in a small Morgan County town. Is this my guide?
Yes. If your town has no city guide, this county page is the local one; it covers Martinsville, Mooresville, Brooklyn, Monrovia, Morgantown and 3 more.
Can Morgan County residents use the questionnaire?
Yes. It asks the same questions in every Indiana county, lists every requirement up front and does not affect your credit score.