Cost of Living in Morganfield, KY
Population 3,208 · Kentucky · Data vintage 2023
(100 = US avg)
Morganfield offers a notably favorable income-to-housing ratio for its region. The typical home — $116,000 — costs less than 1.8 times median household income of $63,546, a threshold many coastal markets passed a decade ago. An unemployment rate of 1.6% points to a labor market well on the tight side of the national distribution.
Geographically, Morganfield is about 30 miles southwest of Evansville, the nearest large metro. Median home values run roughly 10% lower than Evansville's $129,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Morganfield
The median home value in Morganfield is $116,100 — 62% below the national median of $305,000. Median rent runs $830/month, 37% lower than the national median of $1,314/month. The median household income of $63,546/year is 15% lower than the US median of $74,580. The local unemployment rate is 1.6%, below the national average of 4.8%. Kentucky's top state income tax rate is 4.0% and the combined sales tax is 6.0%. Overall, Morganfield has a cost of living index of 48 versus the US average of 100, meaning it is 52% less expensive.
Morganfield has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Morganfield, KY?
Morganfield has a cost index of 48 (100 = national average). It is 52% below the national average.
What is average rent in Morganfield, KY?
The median gross rent in Morganfield is $830 per month based on 2023 Census data.
What is the average home price in Morganfield?
The median home value in Morganfield is $116,100 according to Zillow and Census data.
What is the median income in Morganfield?
The median household income in Morganfield is $63,546 per year (2023 ACS 5-year estimates).
What is the sales tax in Morganfield, KY?
The combined state and local sales tax rate in Morganfield is 6.0%. The Kentucky state income tax top rate is 4.0%.
Is Morganfield, KY affordable?
Yes, Morganfield is generally considered affordable, with a cost of living index of 48 — about 52% below the US national average of 100.
Morganfield at a Glance
- Population
- 3,208
- Median Income
- $63,546
- Home Value
- $116,100
- Median Rent
- $830/mo
- Unemployment
- 1.6%
- Sales Tax
- 6.0%
Nearby Cities
Explore county-level cost of living data
Kentucky Rankings
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