Morgan County, IN

Home values #

Typical home $302,716 (Aug 2026), +1.6% over one year, +26.1% over five

• 70th pct · 914th of 3,063 US counties · median $234,566
• 86th pct · 13th of 92 Indiana counties · median $234,055
• 40th pct · 7th of 11 counties in the Indianapolis-Carmel-Greenwood metro · median $314,850

Zillow Home Value Index (ZHVI), typical value of homes in the 35th to 65th percentile, smoothed and seasonally adjusted; a model estimate of value, not a sale price. Data through Zillow Research.

Rents #

Typical rent $1,552/mo (Aug 2026), +7.2% over one year; price-to-rent 16.3

• 54th pct · 631st of 1,399 US counties · median $1,496
• 83rd pct · 7th of 37 Indiana counties · median $1,174
• 44th pct · 6th of 10 counties in the Indianapolis-Carmel-Greenwood metro · median $1,590

Zillow Observed Rent Index (ZORI), smoothed, all homes and multifamily; price-to-rent = typical home / (typical rent × 12).

What the typical home costs to carry #

Principal and interest of $1,657 a month on $302,716 at 7.28%, against an average weekly wage worth $4,550 a month: 36.4% of one job’s pay.

• payment = P·r / (1 − (1+r)^−n), P = $302,716 × 80% = $242,172, r = 7.28%/12 (Freddie Mac PMMS via FRED, 2026-10-01), n = 360 → $1,657/mo principal and interest
• wage share = payment / (avg weekly wage $1,050 × 52 / 12 = $4,550) = 36% of one average job's pay (BLS QCEW 2026 Q1, all covered jobs)
• years of wages = $302,716 / ($1,050 × 52) = 5.5
• price-to-rent = $302,716 / ($1,552 × 12) = 16.3

The wage is one covered job’s average, not a household’s income, so this is the share of a single paycheque and not a mortgage underwriting ratio.

Estimate. Principal and interest on the typical home with 20% down over 30 years at this week's Freddie Mac average rate; compared with the average weekly wage of all jobs covered by unemployment insurance in the area (BLS QCEW), which is pay per job, not household income.

Jobs & wages #

15,697 jobs at 1,449 employers (2026 Q1); +0.3% jobs and +6.8% average weekly wage over the year

• 65th pct · 1,104th of 3,221 US counties · median 8,232
• 60th pct · 37th of 92 Indiana counties · median 12,958
• 20th pct · 9th of 11 counties in the Indianapolis-Carmel-Greenwood metro · median 39,851

BLS Quarterly Census of Employment and Wages, all ownerships, total covered employment in the quarter's third month; over-the-year changes as published. Suppressed cells stay blank.

Drought #

No drought class at this point (USDM covers the United States only)

Sites found: 5, searched within 0 km of this place’s internal point. That is a disc around a point, not the area itself: sites outside the boundary are included, and sites inside it further than 0 km away are not.

US Drought Monitor current week; the highest class of any polygon containing the point.

Reservoirs #

Surface water layer not loaded

Sites found: 0, searched within 150 km of this place’s internal point. That is a disc around a point, not the area itself: sites outside the boundary are included, and sites inside it further than 150 km away are not.

Σ(capacity × percent full) / Σ capacity over TWDB reservoirs within 150 km. Texas only; elsewhere USGS reservoir elevation/storage is listed without a capacity to normalise by.

Stream gauges #

Surface water layer not loaded

Sites found: 0, searched within 75 km of this place’s internal point. That is a disc around a point, not the area itself: sites outside the boundary are included, and sites inside it further than 75 km away are not.

USGS latest readings screened against EPA freshwater criteria (DO ≥ 5 mg/L, pH 6.5–9, conductance, turbidity, temperature); NWS flood categories where a NWPS gauge is co-located.

Groundwater #

No USGS monitoring wells within 75 km (or above 1,500 km)

Sites found: 0, searched within 75 km of this place’s internal point. That is a disc around a point, not the area itself: sites outside the boundary are included, and sites inside it further than 75 km away are not.

USGS latest daily water levels. A single latest reading says where the table is, not which way it is moving; select a well for its 365-day trace.

Water stress #

low (0.00)

Σ wᵢ·termᵢ / Σ wᵢ = 0.35×0.00 / 0.35

Banks & federal dollars #

$1.5 bn in deposits at 21 offices of 9 banks (SOD June 2026); HHI 1,908, highly concentrated. $1.2 m federal obligations in FY2026 (contracts $1.1 m, loans $129,944), $78 per covered job

Deposit concentration is 1,908 across 9 banks, which the 1995 Department of Justice bank merger screen calls highly concentrated.

HHI = Σ (share %)² over 9 banks with deposits in the county = 29.7² + 21.6² + 15.6² + … (6 more) = 1,908

FDIC Summary of Deposits: deposits at every insured office as of June 30, annual; HHI is the sum of squared county deposit shares (DOJ 1995 bank merger screen: 1000 / 1800). USAspending: obligations by place of performance for the latest complete federal fiscal year (Oct 1 to Sep 30), what agencies committed, not what they paid out; recipients are legal entities. Per-job divides obligations by BLS QCEW covered employment.

Federal obligations #

USAspending place-of-performance obligations for FY2026, by awarding agency.

That is $78 per covered job, against 15,697 jobs in the 2026 Q1 QCEW quarter.

per job = FY2026 obligations $1.2 m / 15,697 covered jobs (BLS QCEW 2026 Q1, all ownerships) = $78

USAspending obligations are recorded where the work is performed, so a prime award performed here is counted here even when the recipient is headquartered elsewhere. Recipients are legal entities, never people.

National context, not this county #

These are United States, single-gauge, single-state and port series. None of them is keyed to this county.

The indicator registry has no county-keyed series and no geographic selection: every entry is national, a named gauge, a single state or a port. They are here as the backdrop the county's own numbers move against, and they are never this county's readings.

What changed #

Morgan County, IN: 7 findings, 7 noted

1. noteMorgan County, IN's average weekly wage was 6.8% higher than the same quarter a year earlier in 2026 Q1, on BLS QCEW's published over-the-year change.

   Period 2026 Q1.
   Show the arithmetic

   • +6.8 % = BLS QCEW over-the-year percent change for 2026 Q1, as published
   • the newest QCEW file carries no year-earlier level, so no move from one level to another is printed

   BLS QCEW over-the-year percent change, as published

2. noteMorgan County, IN's typical asking rent rose 0.9% from $1,538 in July 2026 to $1,552 in August 2026, on Zillow ZORI.

   Period 2026-08.
   Show the arithmetic

   • +0.9% = (1551.5277777777776 - 1538.1323924943797) / 1538.1323924943797 × 100
   • 1551.5277777777776 = Zillow ZORI, 2026-08
   • 1538.1323924943797 = Zillow ZORI, 2026-07

3. noteMorgan County, IN's typical home value rose 0.4% from $301,444 in July 2026 to $302,716 in August 2026, on Zillow ZHVI.

   Period 2026-08.
   Show the arithmetic

   • +0.4% = (302715.6042120294 - 301444.4742990767) / 301444.4742990767 × 100
   • 302715.6042120294 = Zillow ZHVI, 2026-08
   • 301444.4742990767 = Zillow ZHVI, 2026-07

4. noteMorgan County, IN's covered employment was 0.3% higher than the same quarter a year earlier in 2026 Q1, on BLS QCEW's published over-the-year change.

   Period 2026 Q1.
   Show the arithmetic

   • +0.3 % = BLS QCEW over-the-year percent change for 2026 Q1, as published
   • the newest QCEW file carries no year-earlier level, so no move from one level to another is printed

   BLS QCEW over-the-year percent change, as published

5. noteThe next Zillow ZHVI typical home value (monthly) covering Morgan County, IN is due between 2026-10-14 and 2026-10-21, estimated from the publisher's past release pattern.

   Show the arithmetic

   • window = 2026-10-14 to 2026-10-21, estimated from the publisher's past release pattern

   estimated from the publisher's past release pattern; not an announced date

Read all 7 findings in the full brief

Every finding is produced by a fixed rule table and a fixed sentence for each rule. Nothing here is generated prose.