How many renters live in Morgan County, Colorado?
The County of Morgan County has people living in households.
There are renters living in renter households in this County. Renters make up 33.69 percent of the population living in Morgan County.
What is the rental market like in Morgan County, Colorado?
There are an estimated housing units in the Morgan County area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Morgan County, Colorado, there are 1.03 rental units.
What is the vacancy rate for rentals in Morgan County?
The rental vacancy rate in Morgan County is 2 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Morgan County for each bedroom size?
Occupied Rental Units by Size in Morgan County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 112 | 712 | 1,491 | 1,118 | 289 |
Occupied Rental Units by Size in Morgan County
A large number of apartments in Morgan County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Morgan County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $845 to $2,013. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $845 |
| One BR | $948 |
| Two BR | $1,246 |
| Three BR | $1,639 |
| Four BR | $2,013 |
2024 Fair Market Rents in Morgan County, Colorado
How many units are rented at Fair Market Rent (FMR) in Morgan County?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 51 | 46 percent |
| One BR | 636 | 89 percent |
| Two BR | 877 | 59 percent |
Rental Units Below FMR in Morgan County, Colorado
How many affordable rental units are in Morgan County?
There are a variety of federal affordable housing programs serving households in Morgan County, Colorado including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Public Housing | |
| Section 8 Project-Based Rental Assistance | |
| Section 202 Supportive Housing for the Elderly | |
| USDA Section 515 Rural Rental Housing | |
| USDA Section 514 Farm Labor Housing |
Tracked Units by Federal Program in Morgan County, Colorado
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Morgan County, Colorado
Morgan County features 314 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Morgan County, Colorado
There are 84 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Morgan County.
Housing Choice Vouchers in Morgan County, Colorado
On average, Section 8 Housing Choice vouchers pay Morgan County landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Morgan County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Morgan County, Colorado for a two-bedroom apartment is between $1,121 and $1,371.
Sourced from federal housing data and AffordableHousingOnline.com research.